US retail investors poured close to $250bn into bank accounts in the first months of this year, sharply accelerating a flight to safety as they continued to flee volatile stock markets.
Porsche SE turned to new lenders to refinance â?¬10bn of loans to buy Volkswagen AG stock, a sign the economic slump is curbing banksâ?? ability to extend credit.
The International Monetary Fund on Thursday said that the global economy could contract by up to 1 per cent this year, the biggest contraction in 60 years, urging a powerful stimulus effort while criticising the plan offered by the US.
FSA to demand more data from hedge funds (Fund News)
Britain's financial regulator (FSA) is to ask London-based hedge fund managers for more information on their holdings and risk exposure, mirroring a plan recently put forward by the industry.