Britain will inject up to £50-billion of government money into the country’s banks as part of a multibillion-pound package.
Iceland’s biggest bank received an emergency loan from Sweden on Wednesday as the country’s financial crisis showed no sign of abating.
Susan Coyne had her heart set on a pair of earrings at Saks Fifth Avenue in New York, a purchase she would not have thought twice about.
Days after it got a federal bailout, American International Group spent 000 on a posh California retreat for its executives.
SA’s business confidence index fell to a new five-year low of 89,9 in September as a global credit crisis dampened sentiment.
The financial crisis in developed economies threatens to slash investment flows that have driven Africa’s economic growth, the World Bank says.
World stock markets plunged again on Tuesday as the financial crisis deepened, with governments taking emergency measures to shore up confidence.
The JSE dropped 7% on Monday, mirroring a global plunge at the start of the week’s trading. ”This is madness,” said Sanlam’s Manny Adebowale.
Deepening fears about the financial crisis in Europe and doubts about a $700-billion United States rescue sent global stocks plummeting on Monday.
The global financial crisis may have "extremely serious" consequences in developing countries in Africa and Latin America, the IMF said on Monday.
Crude oil prices slumped to eight-month lows below $90 a barrel on Monday as worsening financial turmoil triggered fears about slowing demand.
President George Bush said on Saturday that benefits from the recently passed financial bailout would take time to show up in the US economy.
The US on Friday haggled over a revised version of a $700-billion Wall Street bailout, with leading Democrats optimistic the package would be passed.
The European Central Bank’s chief and the chairperson of euro zone finance ministers rejected any need for a European rescue fund.
The US Senate has approved a -billion bailout of the financial industry, putting pressure on the House of Representatives to approve the plan.
The US Senate prepared to vote on Wednesday on a revised -billion plan aimed at halting the worst financial crisis since the Great Depression.
Want the latest sign that the US financial crisis is crossing from Wall Street to Main Street? Let the New Yorker draw you a picture.
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/ 30 September 2008
Bank rescues spread in Europe on Tuesday and some investors expressed faith that the US Congress would eventually pass a -billion bailout plan.
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/ 30 September 2008
Panicky investors dumped shares on Tuesday after United States lawmakers unexpectedly shot down a Wall Street bailout plan.
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/ 30 September 2008
The US government’s -billion bailout of the banking industry collapsed on Monday as Congress defied the White House by voting down the plan.
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/ 29 September 2008
SA markets took a pounding on Monday, hit by a global stocks fall and a flight from risk, with investors worried about US and European banks.
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/ 29 September 2008
United States regional bank Wachovia succumbed to the worldwide credit crisis as authorities rescued a slew of European banks.
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/ 29 September 2008
UK nationalised Bradford & Bingley on Monday, making the mortgage lender the second bank to be taken into public ownership this year.
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/ 28 September 2008
UK could nationalise troubled mortgage lender Bradford & Bingley in the third rescue of a major bank this year, people familiar with the matter said.
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/ 28 September 2008
US Treasury Secretary Henry Paulson and leading lawmakers early on Sunday reported "great progress toward" reaching a Wall Street bail-out plan.
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/ 27 September 2008
The biggest bank failure in US history added pressure on the US Congress to agree this weekend to a -billion financial industry rescue.
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/ 26 September 2008
Pressure mounted on lawmakers to agree on a -billion financial rescue plan after talks at the White House broke down in acrimony.
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/ 25 September 2008
Local political risk will continue to dominate the rand, Jacques Du Preez of RMB said on Thursday.
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/ 25 September 2008
When Wall Street crashed in 1929, retiree Helen Haas remembers lining up with her mother at a Chicago bank to withdraw her in savings.
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/ 24 September 2008
The FBI has confirmed it is probing allegations of fraud by 24 Wall Street firms, without naming investment giants believed to be under investigation.
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/ 23 September 2008
Iranian President Mahmoud Ahmadinejad told a US newspaper the Wall Street crisis stemmed partly from American military interventions.
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/ 23 September 2008
Democratic White House hopeful Barack Obama said on Monday the US will overcome the financial crisis that has sent shockwaves through Wall Street.