Money Daily Brief: World stocks rise on Bernanke recession comment
An investor yawns as he looks at a stock price monitor in Shanghai. China's benchmark Shanghai Composite Index was one of the few stock indexes to fall Wednesday, losing more than 1 percent because of concerns over financial and steel stocks.
Eugene Hoshiko/AP
鈥� Updated 9:44 a.m. (13:44 p.m. UTC)
鈥�World markets rise: Major Asian stock indexes closed higher and in midday trading, buoyed by Fed chief Ben Bernanke's comments that the US recession is "very likely over." Even London's FTSE index rose strongly despite a report showing unemployment in the United Kingdom now stands at . Separately, a private report said to emerge as the world鈥檚 wealthiest region last year. (Click on chart at right.)
鈥�US factories hum: Industrial production , the second monthly upturn after 18 months of nearly continuous decline. The , suggesting little inflation risk. The to its lowest level in nearly eight years.
鈥�Bonus restrictions: An international board of regulators and central bankers will until banks meet tougher capital requirements. World leaders at the G20 summit in Pittsburgh next week will consider the proposal. Separately, Russia's finance minister said the government had with Bank of New York Mellon over illegal wire transfers a decade ago.
鈥�Bleeding Airlines: , according to the International Air Transport Association, whose sobering recommendation for the recession-wracked industry was further consolidation through shutdowns and robust acquisition and merger actions. Last year, 29 airlines shut down.
鈥�In My Backyard: The amid a looming drought and a flailing economy has prompted ministers to for spartan guest houses. The moves are by the Indian public as some ministers and Italian porcelain in their offices.
鈥� is a Monitor correspondent in Pune, India. For a look at the White House's stepped-up push on healthcare, see Obama seeks AFL-CIO support in healthcare fight.