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HBOS says takeover by Lloyds TSB still on (Reuters)

12-10-2008 15:28

A bus passes a branch of Lloyds bank in the City of London September 30, 2008. (Andrew Winning/Reuters)Reuters - Britain's biggest mortgage provider HBOS Plc said the takeover of the bank by Lloyds TSB remained on, rejecting a report on Sunday that the deal had collapsed.

European leaders hatch aid plan for banks in crisis (Reuters)

12-10-2008 15:26

General view of the leaders of the euro zone countries attending a meeting at the Elysee Palace in Paris October 12, 2008. France's President Nicolas Sarkozy and leaders of euro zone countries hold an emergency meeting in Paris to agree on specific, pan-European measures to prop up the battered financial sector and halt market panic. (Charles Platiau/Reuters)Reuters - European leaders, rushing to craft a credible response before fearful world markets reopen, pledged on Sunday to pump public money into banks battered by the worst financial crisis since the 1930s.

AIG knew of potential problems in valuing swaps: report (Reuters)

12-10-2008 14:32

File photo shows the logo of American International Group (AIG) at their offices in New York September 18, 2008. (Eric Thayer/Reuters)Reuters - Top executives at American International Group Inc knew of potential problems in valuing derivatives contracts, known as credit default swaps, long before questions about the risky transactions caused its stock to plummet, the Wall Street Journal said, citing documents released by congressional investigators.

European leaders ready bank support plan (Reuters)

12-10-2008 13:32

France's President Nicolas Sarkozy (C) gestures as he stands with euro zone leaders for a family photo at the Elysee Palace in Paris October 12, 2008. Sarkozy and leaders of euro zone countries hold an emergency meeting in Paris to agree on specific, pan-European measures to prop up the battered financial sector and halt market panic. (Philippe Wojazer/Reuters)Reuters - European governments are ready to help banks weather the financial crisis by guaranteeing some of their lending and other measures, according to a document being discussed by leaders trying to stem panic on markets.

European summit works on "ambitious" crisis plan (Reuters)

12-10-2008 11:50

President George W. Bush (L) and Treasury Secretary Henry Paulson meet with G7 finance ministers and heads of international finance institutions at the White House in Washington, October 11, 2008. (Jonathan Ernst/Reuters)Reuters - European leaders raced against the clock on Sunday to clinch a rescue strategy for banks battered by the worst financial crisis since the 1930s, under intense pressure to throw them a lifeline before world markets reopen.

Wall St Week Ahead: For stocks, high anxiety still rules (Reuters)

12-10-2008 11:41

An American flag hangs over the exterior of the New York Stock Exchange in New York, October 9, 2008. The Dow Jones Industrial Average dropped 678.91 points on the trading session Thursday to finish at 8579.19 closing below 9,000 for the first time since 2003. (Mike Segar/Reuters)Reuters - High anxiety on Wall Street won't subside this week as the deepening credit crunch pushes the global economy into recession, and corporate profits increasingly become an afterthought as investors scramble to raise enough cash to weather the credit crisis.

Financial markets near complete freeze (Reuters)

12-10-2008 11:06

Reuters - Investors will be seeing this week whether policymakers found a way to pull markets away from a deeper collapse as global capital markets faced complete freeze-up.

Bankruptcy financing gets pricier and more elusive (Reuters)

12-10-2008 10:04

Reuters - Financing is getting pricier and more elusive for companies that file for bankruptcy.

Europe readies action plan to avert global crisis (Reuters)

12-10-2008 07:30

U.S. Treasury Secretary Henry Paulson speaks at a news conference after the G7 Ministerial meeting in Washington October 10, 2008. The world's rich nations vowed on Friday to take all necessary steps to unfreeze credit markets and ensure banks can raise money but they offered no collective course of action to avert a deep global recession. (Yuri Gripas/Reuters)Reuters - European leaders hoped to agree on a detailed plan in Paris on Sunday to prevent market panic and stave off what the International Monetary Fund warned could be a global financial meltdown.

Iran to study all factors before proposing oil cut (Reuters)

12-10-2008 06:20

Reuters - Iran says the recent steep slide in oil prices and worsening global financial crisis will be studied carefully before it makes a proposal on output reductions for OPEC, the Islamic Republic's OPEC governor said on Sunday.

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