October 27, 2008

• Persimmon sees unit sales prices down 10 percent

  » Read the full storyBritish housebuilder Persimmon said Monday its unit sales prices are likely to fall more than previously expected in the second half of the year and its underlying full-year results should meet forecasts.

October 26, 2008

• Asia eyes key stake in new global financial system

  » Read the full storyAsian leaders will find the first global summit on the current financial turmoil a perfect venue to demand a key stake for the region in any new international financial system, experts say. (…)

October 25, 2008

• Asia and Europe close ranks to ease financial crisis

  » Read the complete articleAsian and European leaders closed ranks on Saturday to try to bolster confidence among investors who fear that a global credit crunch has ushered in a deep and damaging world recession.

October 24, 2008

• PNC to buy National City in deal creating fifth-largest US bank

  » Read the complete articleUS regional bank PNC, tapping into a Treasury emergency fund, said Friday it is buying National City in a 5.6 billion dollar deal to create the nation's fifth largest bank by deposits. (…)

• Job cuts and carmaker woes deepen fears

  » Read the complete articleBleak outlooks from world carmakers and more news of big job cuts at major companies on Thursday deepened fears in corporate boardrooms and trading floors around the world of an extended global recession.

October 23, 2008

• Govts shield businesses from 'credit tsunami'

  » Click here for the original articleGovernments around the world rolled out fresh measures Thursday to shield businesses and banks from a looming "credit tsunami" as global stock markets endured further turbulence. (…)

• Credit Suisse says cuts exposure to toxic assets

  » Read the full storySwiss bank Credit Suisse Group said on Thursday it had cut its exposure to U.S. illiquid assets at the end of the third quarter. (…)

October 22, 2008

• Financial crisis has culled worst US institutions: Bank of NY CEO

  » Read the full storyThe financial crisis has provided a needed culling of weak US financial institutions and mortgage giants Fannie Mae and Freddie Mac should bow out in turn, a top New York banker said Tuesday. (…)

• "Under water" mortgages are growing threat to U.S.

  » Click here for the original article"Under water" mortgages are growing threat to U.S. (…)

• U.S. Fed aids money markets

  » Read the full storyThe U.S. (…)

October 21, 2008

• Financial rescue plans by G7 and other countries

  » Read the complete article – Governments around the world are announcing rescue plans to support banks and unfreeze credit markets.

October 20, 2008

• Mortgage lending falls sharply in September

  » Read the complete articleGross mortgage lending fell 10 percent in September to the lowest level for any month since January 2005, hit by weak demand and the global financial crisis, the Council of Mortgage Lenders said on Monday.

• Financial whiz kid students hope for better days

  » Click here for the original articleThere was a time when the golden doors of Wall Street and the City of London would swing wide open for graduates of the finance and probability Master's programme at Paris VI university.

October 19, 2008

• Cooper promises repossession help

  » Click here for the original articleTreasury minister Yvette Cooper has demanded fewer home repossessions by banks as mortgage holders increasingly struggle to keep up with repayments. (…)

• Banks face blitz over repossessions

  » Read the complete articleTreasury minister Yvette Cooper has demanded fewer home repossessions by banks as mortgage holders increasingly struggle to keep up with repayments.

October 18, 2008

• Secretary general offers to host financial crisis talks at UN

  » Read the complete articleUN chief Ban Ki-moon on Saturday supported French President Nicolas Sarkozy's call for global financial crisis talks and offered to host them in New York "in early December."
  Sarkozy to press Bush over global finance reform French President Nicolas Sarkozy called for change in the global financial system before crisis talks with US counterpart George W. (…)

• Sarkozy to call for financial overhaul at summit with Bush

  » Read the complete articleUS President George W. (…)

October 17, 2008

• Finance fallout brings backlash against bankers

  » Click here for the original articleFallout from the financial crisis grew in the real economy Friday with job losses and a backlash against banking chiefs as shares ended a crazy week with more wild swings.

• 'Incident' Costs French Bank 470m

  » Read the complete article'Incident' Costs French Bank 470m French bank Caisse d'Epargne has announced that it lost £470m in a "trading incident" last week. (…)

• Recession looms despite interventions

  » Read the full storyGovernment steps to shore up the banking system and unfreeze credit markets showed some signs of progress on Thursday, but grim news from major economies reinforced fears of recession and hammered global markets.