Bank Failures
latest news & developments
HSBC to pay nearly €300mn to end Belgian criminal probe
As well as paying €294.4-million as a criminal fine, the bank will also hand over 400,000 euros in civil damages to the Belgian state.
African Bank reports full-year loss
African Bank, South Africa’s largest provider of unsecured loans, has posted a loss for the fiscal year through September.
Europe rescues more banks as US rejects bailout
Bank rescues spread in Europe on Tuesday and some investors expressed faith that the US Congress would eventually pass a -billion bailout plan.
Obama urges bailout Bill’s passage, offers plan
US presidential candidate Barack Obama urged lawmakers on Tuesday to return to the negotiating table to work on a financial rescue deal.
No one immune to global crisis, says Microsoft CEO
Microsoft chief executive Steve Ballmer said on Tuesday no company was immune to the global financial crisis.
Banks supply cash to keep money markets alive
The central banks of Japan and Australia hosed more cash at their banks to persuade them to resume lending to each other after bank failures.