Nigeria’s local naira currency weakened against the U.S dollar on the interbank market on Wednesday, but strengthened at the bi-weekly auction after the central bank cleared all demand for the greenback at its official window.  The local currency closed at 161.20 to the dollar on the interbank market compared to […]

New credit downgrades to a number of banks by S&P and still-negative chart patterns mean Bank of America (BAC) and Citigroup (C) are still very much out of favor. After the stock market close on Tuesday, S&P downgraded 15 big banks to reflect the results of their new credit criteria. […]

Major central banks around the globe took coordinated action Wednesday to ease the strains on the world’s financial system, saying they would make it easier for banks to get dollars if they need them. Stock markets and the euro rose sharply on the move. The U.S. Federal Reserve, European Central […]