Major American banks are expected to unveil substantial losses and secure more cash from abroad in what is shaping up to be a pivotal week for the global credit crisis, with central banks also poised to weigh in again.
The dollar fell to a seven-week low against the euro as investors bet US interest rates will fall below those of the 15 nations that share the euro for the first time in three years.
Oil steadied near $93 a barrel yesterday after three sessions of losses, as violence in Nigeria and tensions involving Iran countered worries oil demand could be hit in a global economic downturn.
The world's top cellphone vendor Nokia is set to report a rise in fourth quarter earnings on Jan 24, boosted by buoyant demand for cheap phones in emerging markets and strong holiday sales in Europe.
Construction and engineering firm Balfour Beatty said its 2007 results would be at the top end of expectations, but its richly valued shares fell as Citigroup warned on public and private sector spending growth.
Asian stocks fell for the first time in three days, led by developers, on concern US credit-market losses will spread and damp demand for real estate.
The high-definition DVD format war has not been won, at least not in the minds of the retailers.
The European Central Bank left interest rates unchanged yesterday as concern that economic growth is slowing prevents it from acting against faster inflation.
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