| //09-10-2008 |
How big is the rescue package?
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| //09-10-2008 |
LONDON: Hard-hit British banking stocks recovered after the government announced a 50 billion pound ($88 billion) plan to partly nationalize major banks and promised to guarantee a further 250 billion pounds ($438 billion) of bank loans to shore up the beleaguered sector amid the world financial crisis.
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| //09-10-2008 |
Bank of America, the largest US bank, said yesterday it would raise $10bn in capital and halve its dividend in an effort to ride out the credit crisis.
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| //09-10-2008 |
Asian banks are among several central banks that cut interest rates around the world in their first broadly coordinated policy action in history.
In an attempt to stem the worst global financial crisis since the 1930s, the central banks of the United States, the Euro zone, Britain, Switzerland, Canada and Sweden all lowered official rates by a half-percentage point.
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| //09-10-2008 |
A grand Opening Ceremony of ICBC Sydney Branch took place in Sydney.
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| //09-10-2008 |
High food and fuel prices will increase the number of malnourished people around the world in 2008 by 44 million to reach a total of 967 million, said a report released by the World Bank on Wednesday.
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| //08-10-2008 |
Wall Street predicts banking giant not done with capital raises, loan charges
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| //08-10-2008 |
U.S. dollar tumbles below 99 yen
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| //08-10-2008 |
The world’s major banks may need $675 billion in fresh capital over the next several years to recover from a credit crisis that shows few signs of abating, the International Monetary Fund said.
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| //08-10-2008 |
Knowing that greater international trade would help to prevent future wars, and determined to avoid another Great Depression, the delegates signed the Bretton Woods Agreements, creating the International Monetary Fund and the World Bank. It was a big vision, driven by grand historical figures: Winston Churchill, Franklin D Roosevelt and the British economist John Maynard Keynes.
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| //07-10-2008 |
NEW YORK (MarketWatch) -- Bank of America shares fell 14% in early trading Tuesday as investors pondered life with a smaller dividend and a worsening earnings outlook after the bank reported a surprising 68% drop in third-quarter profit late Monday.
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| //07-10-2008 |
TOKYO: Hopes for a coordinated interest rate cut among the world's major economies to ease a global credit crunch have been anything but in sync the last couple days in Asia.
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| //07-10-2008 |
The head of Japan's central bank said Tuesday that while global financial turmoil is intensifying, each country should manage monetary policy independently, damping speculation of coordinated rate cuts by major economies.
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| //07-10-2008 |
WASHINGTON (AFP) — The International Monetary Fund urged central banks Tuesday to collectively throw life lines to the global banking system sinking in financial turmoil, saying 675 billion dollars was needed over the next several years.
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| //07-10-2008 |
THE International Monetary Fund has warned of "growing turmoil" in financial markets unless a coherent international effort restores confidence in the global financial system - and even with co-ordination restoring order will be "challenging".
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| //06-10-2008 |
WHILE investors question whether the US Government's $US700 billion ($905billion) bank bailout will be sufficient to halt the financial panic gripping the world, it was essential. After baulking earlier in the week, the US House of Representatives is to be commended for its 263-171 vote early on Saturday (AEST) in favour of the rescue plan. Politicians on both sides initially feared an electoral backlash from voters, who perceived the package as letting failed financial houses off the hook. But that view was always mistaken. The package is all about providing credit to enable banks to recapitalise and extend credit to businesses and home buyers in the real economy.
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| //06-10-2008 |
US taxpayers and billionaire investor Warren Buffett are once again at the centre of tumultuous banking action on Wall Street after Citigroup obtained an injunction to prevent a $US15 billion ($19.3 billion) takeover of struggling Wachovia by Wells Fargo.
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| //06-10-2008 |
PARIS (Reuters) - Pledges made by European leaders to tackle the global financial crisis at their Paris summit on Saturday are insufficient to stop the rot banks are fighting hour by hour, analysts say.
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| //06-10-2008 |
SAN FRANCISCO: Here's a safe bet for uncertain times: A lot of banks won't survive the next year of upheaval despite the US government’s $700 billio
n plan to restore order to the financial industry
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| //04-10-2008 |
NEW YORK (CNNMoney.com) -- After two weeks of contentious and often emotional debate, the federal government's far-reaching and historic plan to bail out the nation's financial system was signed into law by President Bush on Friday afternoon.
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