Once a hot spot, Eastern Europe could face financial crisis

Date: Fri, 30 Jan 2009 17:01:50 -0500
Once a hot spot, Eastern Europe could face financial crisis

Once a booming investment destination, Eastern Europe is now in
serious trouble, and some fear it's poised to re-enact its own version
of Asia's financial crisis.

METALS STOCKS: GOLD ENDS AT SIX-MONTH HIGH ON SAFETY BUYING

Gold futures surge to their highest level in six months as investors
seek the safety of the metal following government data that show the
U.S. economy contracted the most in 27 years during the fourth
quarter.

ECONOMIC REPORT: U.S. FOURTH-QUARTER GDP CONTRACTS 3.8%, BIGGEST SINCE 1982

The U.S. economy contracts at a 3.8% annualized rate in the fourth
quarter, Commerce Department data show. The decline in gross domestic
product would have been worse except that the government counts an
unwanted buildup of goods on
store shelves as growth. The data indicate particular weakness in
consumer spending.

ROCHE GOES HOSTILE ON GENENTECH BID, LOWERING PRICE

In a display of hostility toward a firm it mostly owns, Roche Holdings
on Friday lowers its takeover bid for Genentech and takes the offer
directly to. shareholders.