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10/14/2008 11:20 AM |
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US unveils $250bn rescue plan |
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The US made its most aggressive move so far to tackle the financial crisis, unveiling a plan to inject $250bn of public money into the US banking system as part of its $700bn rescue package. Stock markets rose sharply as Hank Paulson and Ben Bernanke rolled out the terms at which the administration is prepared to plough money directly into the US's biggest financial institutions |
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10/14/2008 09:17 AM |
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Global markets rally as US launches bank rescue |
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Stock markets around the world rallied as the US government confirmed it would invest $250bn directly into the US's biggest financial institutions including Bank of America, Morgan Stanley and Goldman Sachs. |
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10/13/2008 05:02 PM |
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Markets surge on €1,873bn European bank bail-out |
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The world's stock markets reacted positively to the gathering campaign to bail out the world's troubled banks, with governments on both sides of the Atlantic announcing measures to restore liquidity and inject fresh capital into their ailing banking systems. It was the best day for US stock markets since the rebound following the great crash of 1929 |
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10/13/2008 07:05 AM |
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UK launches £37bn bank rescue |
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Royal Bank of Scotland, Lloyds TSB and HBOS agreed to scrap dividend payments in exchange for a government rescue package of £37bn. RBS is to get £20bn of government money and could end up with the government owning 60% of the bank. Lloyds TSB and HBOS wil raise £17bn from the government. Barclays will separately tap private investors for £6.6bn. |
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10/12/2008 10:36 AM |
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German plea for pause in costly EU laws |
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Representatives of German business have called for a moratorium on any European Union legislation that would impose higher costs on companies at a time when they are grappling with the fall-out from the financial crisis |
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10/12/2008 09:55 PM |
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UK banks set to unveil bail-out plans |
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Top executives from RBS, HBOS, Lloyds TSB and Barclays were locked in talks with the government on Sunday in a frantic attempt to hammer out details of a capital increase likely to be worth tens of billions of pounds before the markets reopen on Monday |
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10/12/2008 12:05 PM |
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Shipping sector hit by credit crisis |
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The credit crisis sweeping around the globe is drastically curtailing shipping activity as shippers cancel contracts with shipowners because of difficulty obtaining trade finance |
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10/12/2008 01:25 PM |
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Australia and NZ launch bank safeguard plan |
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Australia and New Zealand launched co-ordinated plans to safeguard their banking systems on Sunday, hoping to stem heavy losses suffered by their currencies and markets last week. |
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10/12/2008 11:26 AM |
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Advanced Power seeks sale |
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A power station developer backed by 3i, the private equity house, has put itself up for sale, hoping to cash in on the looming energy gap in Europe and the US |
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10/10/2008 05:59 PM |
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Green looks to buy into Baugur chains |
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Sir Philip Green, owner of BHS and Topshop, is in talks with Icelandic government officials about investing up to £2bn in Baugur, the retailing group which includes House of Fraser, Karen Millen and Hamleys |
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