Binayak Das

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Stock market scare as Dow drops 460 points

It's another "look out below" day in the stock market.<p>The Dow plunged as much as 460 points Wednesday afternoon before pulling back a bit, although a 173 point loss isn't anything to cheer. There wasn't an obvious trigger. Ebola and Europe's sour economy are clearly worrying. Earnings have been …

BOJ senior official: QE makes it easier for banks to lend, helps economy

TOKYO (Reuters) - A senior Bank of Japan official said on Wednesday that the central bank’s quantitative easing makes it easier for banks to lend money as it pushes interest rates lower.<p>A security guard salutes at the entrance of the Bank of Japan building in Tokyo January 22, 2014. REUTERS/Yuya …

Citi pulls out of consumer banking in 11 countries, profit jumps

(Reuters) - Citigroup Inc (C.N) said it was pulling out of consumer banking in 11 markets, including Japan and Egypt, as the U.S. bank with the biggest international business looks to cut persistently high costs.<p>The third-largest U.S. bank, built with a series of acquisitions spanning back to the …

Worrying for Saudi, U.S. oil output cuts could take a while

NEW YORK (Reuters) - Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.<p>Many observers expect a downward spiral of global oil prices to rapidly dampen shale oil drilling in …

Global growth concerns bring gold new shine

SAN FRANCISCO (MarketWatch) — Gold prices rose for a second session Tuesday as investors sought safe-haven investment on worries about global …