Dan Wilchins

Bank crisis returns to markets

Citigroup and Bank of America faced new doubts over their ability to fund their massive losses as their shares sank on Wednesday.

Former Nasdaq chairperson held for fraud

Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday with allegedly running a -billion Ponzi scheme.

US steps in to save Citi, Obama eyes tax relief

The US government agreed to prop up Citigroup with more than -billion, the latest bailout in a sector crippled by exposure to toxic debts.

Lehman files for bankruptcy, plans to sell units

Lehman Brothers has filed for bankruptcy protection, after trying to finance too many risky assets with too little capital.

Lehman sets asset sales plan, posts $4bn loss

Lehman Brothers, desperate for capital and fighting for its survival, unveiled a plan to shed weak assets and sell a stake in its funds business.

Citigroup CEO Prince to resign

Citigroup chief executive Charles Prince plans to resign this weekend, the Wall Street Journal said on Friday, as the widening subprime mortgage crisis brings to an end the reign of Sanford Weill's troubled successor. The largest United States bank by assets plans to hold an emergency board meeting on Sunday, at which Prince will step down.

World Trade Centre insurers in $2bn settlement

Seven insurers have agreed to pay an additional -billion to developers of the World Trade Centre, resolving all outstanding claims from the September 11 2001 attacks and speeding redevelopment of the site, New York State officials announced on Wednesday.

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