* It is good news that financial markets are doing better but 2009 will still be a bad year for the world economy, International Monetary Fund Managing Director Dominique Strauss-Kahn said on Wednesday.
* President Barack Obama defended the steps taken by his administration to pull the nation out of the economic crisis, saying the U.S. “may be seeing the beginning of the end of the recession.”
* Shares in Honda Motor and Nissan Motor soared 8 percent after the automakers surprised markets by eking out small profits last quarter, helped by cost cuts.
*The massive sell-off in Chinese stocks, sparked by concerns over banks capping their lending targets and pricey valuations, had a ripple
effect on Indian equities, among other Asian markets on Wednesday. Though Indian indices managed to erase a portion of the day’s losses, stocks still ended lower, as fears about the health of global equities remain in the near term.
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