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Markets reel after US bailout failure
Panicky investors dumped shares on Tuesday after United States lawmakers unexpectedly shot down a Wall Street bailout plan.
Subprime Crisis
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Panic grips world’s markets
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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SA markets battered by risk aversion
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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European banks get bailouts
United States regional bank Wachovia succumbed to the worldwide credit crisis as authorities rescued a slew of European banks.
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Britain nationalises Bradford & Bingley
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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‘Great progress’ on US financial plan
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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US waits on financial rescue package
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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Pressure mounts on US over rescue package
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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Financial crisis revives memories of Great Depression
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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FBI probes finance giants for fraud
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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WTO: Financial crisis no cause for protectionism
The financial crisis should not undermine efforts to open up the global economy, the head of the World Trade Organisation said on Wednesday.
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World stocks stabilise on bailout plan
World stocks steadied on Wednesday and safe-haven government bonds rose after Warren Buffett’s investment in Goldman Sachs failed to calm anxiety.
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US Congress examines $700bn market bailout plan
The Bush administration asked Congress on Saturday for -billion to bail out firms burdened with bad mortgage debt.
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What price confidence? — hundreds of billions of dollars
Confidence is an elusive thing but as the roller coaster ride in the markets makes clear, without it, the financial system risks turning to dust.
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The Great Depression of 2008? Not quite
There’s something about hundreds of billions of dollars vanishing overnight that begs a comparison to the 1929 market crash and the Great Depression.
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US launches all-out attack on credit crisis
The United States surged into action on Friday to launch an all-out attack against the worst financial crisis since the Great Depression.
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Debt rescue efforts spark rally on global markets
A US government promise to rescue Wall Street from its debt crisis and global central bank intervention spurred a mass market rally on Friday.
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US announces plan to ease financial crisis
The US said on Thursday it was putting together a rescue plan to clear away the bad debt that has caused the worst financial crisis in decades.
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SA banks weathering the global storm
South African banks have little direct exposure to the United States mortgage-backed securities market, says Reserve Bank Governor Tito Mboweni.
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Barclays mulls purchase of Lehman assets
Barclays said on Tuesday it was in discussions with Lehman Brothers about buying certain assets of the stricken United States investment bank.
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IMF: Fallout from financial crisis not over
Fallout from the global financial crisis is not over and more consolidation could occur in the financial sector, the IMF said on Monday.
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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.
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Fannie, Freddie CEOs denied exit bonuses
US regulators will not allow mortgage giants Fannie Mae and Freddie Mac to pay their chief executives multimillion-dollar severance packages.
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Lehman Brothers sees $3,9bn loss, no fresh capital
Ailing investment bank Lehman Brothers announced on Wednesday an estimated $3,9-billion loss in its fiscal third quarter.
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Lehman to announce initiatives, KDB talks uncertain
Lehman Brothers is set to announce its ”strategic initiatives” on Wednesday that could include plans to sell British real estate assets to BlackRock.
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IMF: World growth to slow before recovery
World economic growth is set to continue to slow in the second half of 2008 before a gradual recovery in 2009, the IMF said on Tuesday.
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US feels effects of property market crash
House prices in the US are plunging at their fastest rate for 12 years, leaving millions of people struggling to meet home loans.
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Bank shares tumble on Fannie, Freddie worries
Shares in Asian and European banks tumbled on Tuesday as investors dumped stocks on concerns about exposure to troubled US mortgage lenders.
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Markets plunge in fresh US housing crisis
United States worries grew on Friday night when federal officials took over California mortgage lender IndyMac after a run on the bank by depositors.
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SA banks largely unaffected by global woes
South Africa has a well-regulated and capitalised banking system which has been largely unaffected by the United States subprime market crisis.
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Reserve Bank: SA largely unaffected by subprime crisis
SA has a well-regulated and capitalised banking system that has been largely unaffected by the US subprime crisis, the Reserve Bank said on Tuesday.