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Man Group loses $6 billion from asset base

Hedge fund manager Man Group said Wednesday it had lost $6.0 billion (4.4 billion euros) from its asset base since June due to financial markets chaos, sparking a 21-percent plunge in its shares. Man Group said in a trading update that its total funds under management currently stood at about $65 billion.…

Economic turmoil in Europe drives Dow down 300

NEW YORK — US stocks plunged on Friday, with the Dow Jones Industrial Average sliding more than 300 points, as global stock markets were stung by fresh anxiety in the eurozone over Greece’s bailout. The Dow fell 303.68 points (2.69 percent) to close at 10,992.13. The broader S&P 500 fell…

Industrial output stagnates in June

Industrial output stagnated in June and the trade-in-goods deficit worsened, official data showed on Tuesday, further clouding the economic outlook amid plunging stock markets. Industrial production was unchanged in June from the previous month, the Office for National Statistics (ONS) said in a statement. However it sank by 0.3 percent in June on a…

Obama says America still a ‘triple-A’ country

WASHINGTON — President Barack Obama vowed Monday that America would always be a “triple-A country,” defending US credit after a historic downgrade and insisting the reeling economy was “eminently” fixable. Speaking against a backdrop of tumbling global stock markets, Obama said he would present his own solutions for mending US…

Obama defends America’s credit

US President Barack Obama vowed Monday that America would always be a “triple A country,” fiercely defending US credit after a historic debt downgrade and saying the economy could be fixed with political will. Speaking against a backdrop of tumbling global stock markets, Obama said he would present his own…

Global policymakers discuss debt crisis, market turmoil

TOKYO/SEOUL (Reuters) – Global policymakers held an emergency conference call on Sunday to discuss the twin debt crises in Europe and the United States that are causing market turmoil and stoking fears of the rich world sliding back into recession. After a week that saw $2.5 trillion wiped off global…

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