Reuters - The Federal Reserve said on Sunday it approved the takeover of Wachovia Corp and its banking subsidiaries by Wells Fargo & Co of San Francisco.

Reuters - Countries from Europe to Australia rushed out plans on Sunday to shore up their banks, trying to stem a crash in markets by pledging to back lending, buy stakes in financial institutions and take other measures.

Reuters - Despite its best efforts to fortify its defenses, Morgan Stanley's fate hangs in the balance after the market's relentless assault last week.

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.

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.

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.

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.

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.

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.

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.