Crisis hammers stocks, U.S. urges unified response
Published Tuesday, Oct. 7, 2008
Governments around the world grasped at new measures to contain the fast-spreading credit crisis on Monday but stock, bond and commodity markets saw investors betting on deepening uncertainty and a sharp global downturn.
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Fed to boost auctions, pay interest on reserves
Published Tuesday, Oct. 7, 2008
The Federal Reserve on Monday announced a series of steps to funnel massive amounts of liquidity through clogged credit markets, including boosting the sizes of cash auctions and offering banks interest on reserves.
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Wachovia, Citi, Wells Fargo to halt litigation
Published Tuesday, Oct. 7, 2008
Wachovia Corp and suitors Wells Fargo & Co and Citigroup Inc agreed on Monday to halt all litigation until noon Wednesday in hopes of deciding the winner of the troubled North Carolina-based bank. Read More |
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Nokia touch-screen to miss Xmas in mature markets
Published Monday, Oct. 6, 2008
Nokia's answer to Apple's iPhone will go on sale in seven countries in Asia, the Middle East and Europe this year but will miss the Christmas shopping season in most developed markets.
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Regulator says Fannie, Freddie might sell bad assets
Published Monday, Oct. 6, 2008
Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) may sell some bad assets to the Treasury Department but a decision has not yet been made, the regulator of the two mortgage finance companies said on Sunday.
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German govt, banks agree on Hypo Real Estate rescue
Published Monday, Oct. 6, 2008
The German government and banks on Sunday agreed a new rescue package for Hypo Real Estate (HRXG.DE: Quote, Profile, Research, Stock Buzz) that addresses additional liquidity needs that surfaced at the troubled German lender in recent days, the Finance Ministry said.
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BNP Paribas to buy 75 pct of Fortis Bank Belgium: PM
Published Monday, Oct. 6, 2008
France's BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz) will buy 75 percent of the Belgian banking arm of the troubled Fortis (FOR.BR: Quote, Profile, Research, Stock Buzz) group as part of a deal in which Belgium will receive new shares in BNP Paribas, Belgian Prime Minister Yves Leterme said on Sunday.
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SocGen solid, ready to look at acquisitions: CEO
Published Sunday, Oct. 5, 2008
French bank Societe Generale, hit by a massive rogue trading scandal this year, is solid and is ready to look at acquisitions, chief executive Frederic Oudea told Le Parisien newspaper. Read More |
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Hypo Real fights for life after rescue collapses
Published Sunday, Oct. 5, 2008
Property lender Hypo Real Estate (HRE) fought for its life on Saturday after German banks and insurers pulled out of a state-led 35 billion euro ($48.5 billion) rescue program stitched together only days ago. Read More |
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Hermes CEO says family no plans to sell
Published Sunday, Oct. 5, 2008
Members of the controlling family of French luxury goods group Hermes have no plans to sell shares and the house is confident it will weather the financial crisis, Chief Executive Patrick Thomas told Reuters. Read More |
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Belgium, Luxembourg scramble to sell Fortis
Published Sunday, Oct. 5, 2008
Belgium and Luxembourg scrambled on Saturday to find a buyer for the remains of troubled financial group Fortis and mulled a further nationalization after the Netherlands took over its Dutch units. Read More |
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Honeywell sees '09 bizjet sales up, but peak looms
Published Sunday, Oct. 5, 2008
Worldwide business jet deliveries will rise 8 to 17 percent next year to what may be a peak as high fuel costs and global economic worries depress demand, according to a forecast by Honeywell International Inc released on Saturday. Read More |
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