October 17, 2008
'Incident' Costs French Bank 470m
'Incident' Costs French Bank 470m
French bank Caisse d'Epargne has announced that it lost £470m in a "trading incident" last week.
Executives saw conditions worsening before crash (Reuters via Yahoo! UK & Ireland News)
Top U.S. executives were bracing for a downturn even before the financial markets collapsed late last month, according to a survey conducted in September by the Business Council.
Recession looms despite interventions (Reuters via Yahoo! UK & Ireland News)
Government 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.
