America’s recession “probably” will end this year if the US government succeeds in bolstering the banking system, Federal Reserve Chairman Ben Bernanke said in a rare television interview.

US President George Bush said today that despite diving stock markets and fears of global recession, now is not the time for nations to abandon open market policies or approve changes that would threaten free enterprise.

Wall Street surged on a burst of optimism today, propelling the Dow Jones industrials up more than 400 points on more signs of a reviving credit market and comments from Federal Reserve Chairman Ben Bernanke.

Stocks sank today as a modest upturn in existing home sales failed to lift investors’ downcast spirits on the last day of Wall Street’s volatile and difficult year.

Wall Street closed out a volatile week and month with a comparatively mild performance tonight, closing mostly higher on encouraging words from Federal Reserve Chairman Ben Bernanke.

Wall Street closed another difficult session lower but well above its worst losses today after a late-day rebound in financial shares lifted many other stock sectors.

Wall Street closed out another erratic week with a big gain today after investors took comments from President George W Bush and Federal Reserve Chairman Ben Bernanke as reassuring signs Wall Street won’t be left to deal with problems in the mortgage and credit markets on its own.

Wall Street closed out another erratic week with a big gain today after investors took comments from President George W Bush and Federal Reserve Chairman Ben Bernanke as reassuring signs Wall Street won’t be left to deal with problems in the mortgage and credit markets on its own.

Wall Street plunged today as investors, driving the Dow Jones industrial average down nearly 130 points, grappled with a seemingly relentless rise in bond yields.

Wall Street rebounded fitfully today from the previous session’s 416-point plunge in the Dow industrials as investors took comfort from comments by Federal Reserve Chairman Ben Bernanke but still showed signs of unease about the economy.

Stocks plummeted today, briefly hurtling the Dow Jones industrials down nearly 550 points as Wall Street succumbed to a global market plunge sparked by growing concerns that the US and Chinese economies are cooling and that equities prices have become over-inflated.

A larger-than-expected drop in house building gave Wall Street a mixed performance today, but the Dow Jones industrials had their third straight record close.

Wall Street extended its February rally today, growing confident that interest rates will hold steady even as Federal Reserve Chairman Ben Bernanke tempered his forecast of slowly cooling growth and inflation with a reminder that price pressures remain a concern.

The Dow Jones industrials set a new high today as stocks extended their gains for a second day after Federal Reserve Chairman Ben Bernanke told a Senate panel the economy should grow modestly this year despite a slowdown in housing and that he expects inflation will continue to ease.

Japanese stocks jumped by the most in more than four years after Federal Reserve Chairman Ben S Bernanke hinted the central bank has almost finished raising US interest rates.

Wall Street shot higher today after Federal Reserve Chairman Ben Bernanke said US economic growth seemed to be moderating and inflation remained contained.

Stocks dropped for the second straight session in the United States today with the Dow Jones industrial average falling to its worst close since March 9. Global markets also sold off as inflation fears worsened.

US stocks rose modestly in the United States today after investors bobbed and weaved with every word of new Federal Reserve Chairman Ben Bernanke’s testimony before Congress.

Stocks ended a lethargic session moderately lower today as a lack of economic news returned investors’ focus to interest rates and inflation ahead of comments from new Federal Reserve Chairman Ben Bernanke later this week.

HALF of the 4,500 companies in the UN oil-for-food programme, including Volvo and Daimler Chrysler, paid €1.5 billion in kickbacks and illicit surcharges to Saddam Hussein’s government, a UN report has concluded.

Most US stocks closed higher today after Federal Reserve Chairman Alan Greenspan said the economy has weathered the increase in oil prices “reasonably well”.

Creeping trade protectionism and bloated budget deficits pose a risk to the US’ long-term economic vitality, Federal Reserve Chairman Alan Greenspan warned today.

The former chief of the Iraq oil-for-food programme has resigned – just a day before investigators release a report that is expected to accuse him of taking kickbacks under the $64bn (€51.8bn) humanitarian operation.

Stocks rose today after Federal Reserve Chairman Alan Greenspan delivered an upbeat assessment of the economy and Wall Street focused on the solid earnings reported by a growing number of companies.

London shares ended Wednesday in the black after recovering from a late downturn sparked by Wall Street.

The committee probing the UN oil-for-food programme has announced it will again investigate Secretary-General Kofi Annan after two previously unknown emails suggested he may have known more than he claimed about a multi-million-dollar UN contract awarded to the company that employed his son.

Stocks slumped in the United States today as the Bush administration said the country’s economy would likely grow at a slower pace than forecast six months ago – an assessment that eclipsed positive corporate news and lower oil prices.

Finance officials from the world’s seven richest countries sought to calm jittery financial markets today by pledging “vigorous action” to deal with problems, including soaring energy prices, that could undermine global growth.

Stocks got a lift from Federal Reserve Chairman Alan Greenspan today, rising modestly after he said the recent climb in oil prices was already curbing demand for crude. Oil futures dropped sharply on the news.

THE son of the UN Secretary-General was yesterday reported to have received at least €230,000 from a Swiss company that was awarded a contract from the UN’s oil-for-food programme in Iraq — almost double the amount previously disclosed.

Secretary-General Kofi Annan urged world leaders today to implement the boldest changes to the United Nations in its 60 year history by expanding the size of the Security Council, writing a new definition of terrorism and strengthening protections for human rights.

Stocks skidded today as soaring oil prices offset bullish testimony about the state of the US economy by Federal Reserve Chairman Alan Greenspan.

A sharp rise in wholesale prices intensified fears about inflation today, sending stocks to a mixed finish and bond prices falling.

Stocks stumbled today as mixed economic news and further hints of higher interest rates from Federal Reserve Chairman Alan Greenspan kept buyers at bay.

Some the world’s major central bankers have warned the US that the international community could be running out of patience with the massive US budget and trade deficits that have pushed the dollar lower and increased the cost of their exports in America.

The UN has vowed to discipline two officials implicated in a report that detailed conflicts of interest and flawed management in the UN oil-for-food programme, while the man leading the investigation warned that more revelations were forthcoming.

UN Secretary-General Kofi Annan has ordered disciplinary action against the head of the UN oil-for-food program in Iraq, who was sharply criticised in an investigation that accused him of a “grave conflict of interest” and “undermining the integrity” of the UN.

THE latest set of economic statistics confirm an Irish economy continuing to deliver strong growth in 2004.

An afternoon rally spurred by a drop in oil prices pushed stocks higher today, bringing investors back into the market despite lingering concerns over the strength of the dollar and the nation’s trade deficit.

The world will be living with volatile oil prices for years to come, but this year’s price spike should not be serious enough to push the US into a recession, US Federal Reserve Chairman Alan Greenspan said yesterday.

US economic growth is picking up after hitting a soft patch earlier this year, and oil prices are so far not pushing inflation higher, Federal Reserve Chairman Alan Greenspan said.

US investors adopted a wait-and-see attitude on the economy, despite Federal Reserve Chairman Alan Greenspan’s improved assessment, and sent stocks modestly lower today.

Another late rally gave Wall Street a modest advance today despite a spike in oil prices and a lower-than-expected hike in the US gross domestic product that raised new questions about the economy.

Another late rally gave Wall Street a modest advance today despite a spike in oil prices and a lower-than-expected hike in the US gross domestic product that raised new questions about the economy.