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Global Investing Roundups
Credit Crisis Claims $1 Trillion; Dollar Falls Hard; Gold and Silver Rally; Honda Slashes Profit Outlook; Motorola Cuts Costs; Valeo Cuts 5,000 Jobs; Woolworths Closing Its 807 Stores in Jan.; E-Trade Growing and Shrinking
- With Morgan Stanley’s (MS) $2.2 billion loss in the third quarter, the carnage from the credit crisis passed the $1 trillion mark. About 67% of that came from U.S. financial firms, and about 30% from European firms, Bloomberg reported.
- A day after the U.S. Federal Reserve’s deepest rate cut in history, the dollar fell hit fresh lows against other currencies. It fell toward a 13-year low against the yen…
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