Archive for April, 2009

This morning, sad news from across the Pacific Ocean. US car maker Chrysler has filed for chapter 11 bankruptcy protection. We thought a poem would be in order. Written in the style of EJ Thribb…
So. Farewell
Then
Chrysler Motors.

You made cars
For 83 years.

But they were
Rubbish
And no-one bought them.

So now
You
Don’t.
Why You Should Think Twice Before [...]

* Relief after U.S. markets receive Chrysler news calmly * Yen hits near 2-week low vs dollar, buoys exporters

* Oil slips below $51 on news of Chrysler’s bankruptcy * China’s April PMI rises, marks fifth month of improvement

(Adds comment, movers) MELBOURNE, May 1 (Reuters) – Australian shares were a touchsofter on Friday, weighed down by miners such as BHP BillitonLtd <BHP.AX> on profit taking, though the top banks recoveredafter some early slippage.

SYDNEY, May 1 (Reuters) – The Australian dollar <AUD=D4>was edging higher on Friday as tentative hopes the worldeconomy may have survived the worse patches of the financialcrisis supported investor sentiment and demand for riskiercurrencies. * Aussie inched up to $0.7291, from an early $0.7250,having climbed as high as a seven-month peak of $0.7384offshore.

* Stocks pull back after Chrysler bankruptcy * Dow Chemical’s profit beats estimates, stock soars

(As major continental European markets are closed for the Mayday holiday on Friday, Reuters will not publish a separatepan-European stock report. The British equity market report willserve as the pan-European report. Normal European reports willresume on Monday.)