Who’s to blame? Indebted Americans? Alan Greenspan? Slack credit rating agencies? Greedy and overpaid chief executives?
Larry Elliott takes a look at the bail-out which is a nationalisation designed to avert the worst market collapse since the 1930s.
Record high oil prices at a barrel deepened worries about inflation on Thursday and weighed on some Asian stocks although Japanese shares ended slightly higher, as dealers…
The worst of the financial-sector crisis is over, although the impact on the broader economy will likely drag on in coming months, International Monetary Fund (IMF) managing…
The ”American dream” of unashamed wealth and the opportunity for all to acquire it has reached a crisis point before: in the Depression, the oil shock, in the ”greed is good”…
The United States mortgage crisis has spiralled into ”the largest financial shock since the Great Depression” and there is a one-in-four chance that it will cause a full-blown…
The head of the crisis-hit investment bank Bear Stearns has blamed short sellers and market manipulators for spreading negative financial rumours to induce a collapse of the…
More than 20 000 people are forecast to lose their jobs on Wall Street as the credit crunch bites into business at financial institutions over the next two years. New York’s…
Signs of life in the United States housing market combined with JPMorgan’s higher bid for Bear Stearns to push global equity markets up sharply on Tuesday, and sent corporate…
The JSE remained firm by midday on Tuesday as overnight gains in the United States triggered good buying interest among global equities. By noon, the JSE’s broader all-share…
Oil prices slipped more than a barrel on Monday as traders worried that the flagging United States economy would cause oil demand to soften. Oil’s sharp decline started last…
Central banks on both sides of the Atlantic are in talks about the feasibility of mass purchases of mortgage-backed securities in a bid to solve the global credit crisis, the…
JPMorgan Chase is offering bankers at Bear Stearns bonuses to stay and support the controversial takeover, a person familiar with the situation said on Thursday. Those employees…
The Federal Reserve slashed United States interest rates by a hefty three-quarters of a percentage point on Tuesday, giving a lift to stock markets already jubilant over…
A Paris court on Tuesday freed Jerome Kerviel, the trader accused of causing record losses at French bank Société Générale, pending investigation, his lawyers said. Société…
Gold added $24,95, or 2,49%, to trade at $1 025,05 by 1.30pm on Monday — this after rising more than 3% to a record $1 032,60 a troy ounce in overnight trade. Oil…
Global stocks fell and the dollar tumbled on Monday as a fire sale of Bear Stearns and an emergency Federal Reserve cut of a key lending rate sparked fears that a worldwide…
JP Morgan Chase set a deal to buy stricken rival Bear Stearns for a rock-bottom price, while the United States Federal Reserve expanded lending to securities firms for the first…
The global credit crunch claimed its biggest victim yet on Friday when the United States Federal Reserve orchestrated an emergency bail-out for Bear Stearns after a cash crisis…
An affiliate of United States-based buyout firm Carlyle Group has defaulted on about ,6-billion of debt and expects its lenders to seize remaining assets as the global credit…
