Vietnam has demanded consultation with the US about a number of anti-dumping measures against certain frozen shrimp products from Vietnam. Vietnam’s official request was announced on February 20. According to the World Trade Organisation (WTO) regulations, the request for consultation marks the beginning of procedures for resolving disputes. Consultation sessions open up an opportunity for concerned... 

US stocks dropped sharply on Monday, while Treasury bond prices actually rose in the wake of Standard & Poor’s unprecedented downgrade of the United States’s credit rating. The Dow Jones Industrial Average plummeted 334.68 points (2.9 per cent) to 11,109.93 at 1630 GMT. The broader S&P 500 dropped 45.64 points (3.8 per cent) to 1,153.74, while the tech-heavy Nasdaq Composite plunged... 

Asian stocks nose-dived Monday as the first-ever downgrade of the U.S. government’s credit rating jolted the global financial system, reinforcing fears that the world economy is weakening. Oil prices extended recent sharp losses, trading below $84 a barrel on expectations that weaker global growth will crimp demand for crude. The dollar was lower against the yen and the euro. Among the major... 

Financial chiefs and central bankers of the G7 nations early Monday pledged to “take all necessary measures to support financial stability and growth” as nervous global markets re-opened. “We are committed to taking coordinated action where needed, to ensuring liquidity, and to supporting financial market functioning, financial stability and economic growth,” a statement said... 

Standard & Poor’s has cut the US credit rating for the first time in history, saying the country’s politicians are increasingly unable to come to grips with its massive fiscal deficit and debt load. S&P cut the US rating from its top-flight triple-A one notch to AA+, and added a negative outlook to it, saying there was a chance it could be downgraded again within two years if progress... 

Gold jumped on Friday as investors took refuge from equity and debt markets on mounting concerns about the threat of contagion from the euro zone crisis and as worries about a slowdown in U.S. growth fuelled a pullback in risky assets. Spot gold hit a session high of US$1,669.60 a troy ounce. It was bid at $1,666.70 an ounce at 1109 GMT from $1,647.90 an ounce late in New York on Thursday, up 1.1... 

British-based banking giant HSBC has announced it will sell 195 retail branches, primarily in upstate New York, to First Niagara Bank for an estimated $1 billion. “As part of its ongoing US strategic focus on commercial and corporate banking, HSBC Bank USA remains committed to serving and further developing corporate banking relationships in Upstate New York,” the company said in a statement. “HSBC... 

Asian stocks edged lower and the dollar hit new lows on Wednesday as the deadlocked talks aimed at averting a default in the United States continued to weigh on sentiment. Despite expectations that a deficit-cutting deal will be made between the White House, Democrats and Republicans, lawmakers have yet to agree a plan with the date on which the government runs out of money fast approaching. Tokyo... 

Greek Finance Minister Evangelos Venizelos has said that US support is vital for Greece, after a day of Washington meetings as Athens pushed to finalize its second massive international bailout. “The support provided by the US government is especially important for Greece, for the eurozone, for the international economy and for the global economic governance,” he told reporters Monday following... 

Asian stocks were mixed Monday as news that fewer than expected European banks failed stress tests was tempered by fears US lawmakers will not agree a budget that will help avoid a catastrophic default. Hong Kong gained 0.66 per cent and Seoul fell 0.56 per cent while Sydney, Shanghai and Taipei were all flat. Tokyo was closed for a public holiday. The European Banking Authority said on Friday that...