“Stocks fell in Europe and Asia, capping the worst quarter for the MSCI World Index since 2002, as concern deepened that losses in the credit markets will hurt economic and profit growth, “ reports Bloomberg.
U.S. stock futures Monday pointed to a “downbeat finish to a downbeat first quarter,” with S&P 500 futures falling 5.4 points to 1313.60 and Nasdaq 100 futures falling 6 points to 1,774.00,” reports MarketWatch. Dow industrial futures lost 46 points.
A panel of heart specialists on Sunday released results from a controversial study indicating prescription cholesterol drugs Zytorin and Zetia work no better than a cheap generic drug. They recommended the drugs be used only as a last resort, until research proves the medications are effective.
Northern Rock admitted Monday in its annual report that last year’s near collapse left the bank with a 167 million pound ($332 million) loss and said that it will not return to profit for at least the next three years.
France’s Pernod Ricard won Sweden’s Absolut Vodka in a 5.63 billion euro ($8.87 billion) deal on Monday. “The win gives the world's second-largest wine and spirits company control of one of the biggest and fastest-growing spirits brands,” according to Forbes.
Muqtata-al-Sadr on Sunday called for his Mahdi army to withdraw from the streets of Basra and other provinces. "We want the Iraqi people to stop this bloodshed and maintain Iraq's independence and stability,” he said, according to Al-Jazeera.
The first results from Zimbabwe’s presidential and legislative elections shows that the 24 parliamentary constituencies were split between President Robert Mugabe's Zanu-PF and the Movement for Democratic Change (MDC), and that Justice Minister Patrick Chinamasa has lost his seat, east of Harare. Riot police have been patrolling the capital, Harare, and other urban areas.
The Olympic torch arrived in Beijing Monday by way of a specially chartered plane. President Hu Jintao conducted an official ceremony in Tiananmen Square, marking the start of the torch’s 130-day global tour before the 2008 Olympic Games begin in August.
“During his first run for elected office, Barack Obama played a greater role than his aides now acknowledge in crafting liberal stands on gun control, the death penalty and abortion– positions that appear at odds with the more moderate image he’s projected during his presidential campaign,” reports Politico. The evidence comes from a questionnaire filed under Obama’s name during his bid for a Senate seat in 1996.
Insiders say Housing and Urban Development Secretary Alphonso Jackson will announce his resignation Monday, “a decision that will deal a blow to the Bush administration's efforts to tackle the housing crisis,” The Wall Street Journal reports. The reasons for Johnson’s decision are not yet known.
College basketball will see the first ever all-No.-1-seed event this year, with UNC Chapel Hill, The University of Kansas, UCLA and The University of Memphis in the Final Four of the NCAA Men’s Division Basketball Championship.