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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.

UK banks set to unveil bailout plans: source (Reuters)

12-10-2008 04:22

Pedestrians walk past a Barclays bank logo in central London, October 7, 2008. (Stephen Hird/Reuters)Reuters - Major British banks are likely to announce their plans to recapitalize early on Monday, a person familiar with the matter said, a move which could see the government take multi-billion pound stakes in several lenders.

Scramble to save banks as IMF warns of meltdown (Reuters)

12-10-2008 03:56

Egypt's Finance Minister and International Monetary and Financial Committee (IMFC) Chairman Youssef Bourtos-Ghali (2nd R), International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn (C), IMF's First Deputy Managing Director John Lipsky (2nd L) and IMF Secretary Shailendra Anjaria (R) attend the meeting of the IMFC at IMF Headquarters in Washington October 11, 2008. (Stephen Jaffe/IMF/Handout/Reuters)Reuters - Rich nations rushed to shore up the global financial system after the International Monetary Fund warned of meltdown, with Australia and New Zealand guaranteeing bank deposits and newspapers reporting plans for Britain's biggest retail bank rescue.

Britain to launch banking rescue: paper (Reuters)

12-10-2008 02:35

Pedestrians walk past a Barclays bank logo in central London, October 7, 2008. (Stephen Hird/Reuters)Reuters - Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a combined 35 billion pound ($60.5 billion) lifeline, the Sunday Times reported.

Iran to seek OPEC oil output cut: minister (Reuters)

12-10-2008 02:18

Reuters - Iran will ask for an oil output cut at an OPEC emergency meeting scheduled for mid-November in Vienna, Oil Minister Gholamhossein Nozari told an Iranian newspaper.

Britain to launch 60.5 billion dollar banking rescue: paper (Reuters)

11-10-2008 23:40

Pedestrians walk past a Barclays bank logo in central London, October 7, 2008. (Stephen Hird/Reuters)Reuters - Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a combined 35 billion pound ($60.5 billion) lifeline, the Sunday Times reported.

Britain to launch 35 billion pound banking rescue: paper (Reuters)

11-10-2008 22:31

Pedestrians walk past a Barclays bank logo in central London, October 7, 2008. (Stephen Hird/Reuters)Reuters - Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a combined 35 billion pound ($60.5 billion) lifeline, the Sunday Times reported.

IMF warns of meltdown; France says Europe to act (Reuters)

11-10-2008 21:55

International Monetary Fund Managing Director Dominique Strauss-Kahn (R) talks to U.S. Federal Reserve Chairman Ben Bernanke before the International Monetary and Financial Committee meeting during the annual IMF-World Bank meeting in Washington October 11, 2008. Japan's Finance Minister Shoichi Nakagawa is on the left. (Yuri Gripas/Reuters)Reuters - The IMF warned on Saturday the world's financial system was near meltdown and France promised that a meeting of European leaders in Paris will detail measures to keep a market panic from triggering the most severe global downturn in decades.

Britain to launch rescue of top 4 banks: paper (Reuters)

11-10-2008 21:51

Pedestrians walk past a Barclays bank logo in central London, October 7, 2008. (Stephen Hird/Reuters)Reuters - Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a 35 billion sterling ($60.5 billion) lifeline, the Sunday Times reported.

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