Morgan Stanley struggling with Mitsubishi UFJ capital injection: report
NEW YORK, October 13, 2008 (AFP) – US banking giant Morgan Stanley on Sunday was trying to salvage a nine-billion-dollar deal to sell 21 percent of its …
World
Global financial crisis will hit army of overseas Filipino workers
MANILA, October 13, 2008 (AFP) – There are few countries in the world where you will not find a Filipino worker. Even in tiny Iceland, one of the …
South Korea eases rules on investment in banks amid crisis
SEOUL, October 13, 2008 (AFP) – South Korea’s government said Monday it will allow conglomerates and other non-banking firms to buy a bigger stake …
Germany to unveil 470 bln euro bank rescue package: sources
BERLIN, October 13, 2008 (AFP) – Germany was to unveil Monday a 470-billion-euro rescue package to save the country’s banks from collapse, …
US to buy stakes in ‘broad array’ of banks: Treasury
WASHINGTON, October 13, 2008 (AFP) – The United States is ready to buy equity in a “broad array” of financial institutions, the …
IMF ready to lend to countries during financial crisis; endorses G7 plan
WASHINGTON, October 11, 2008 (AFP) – The International Monetary Fund said Saturday it was ready to lend to countries in need of capital, as the 15 …
Golden Age for TV beckons
CANNES, October 12, 2008 (AFP) – A golden age for television beckons as established TV companies go head on with the Internet and other new digital media …
European finance crisis summit opens in Paris
PARIS, October 12, 2008 (AFP) – European leaders opened a summit in Paris on Sunday to try to agree on decisive measures to confront the global financial …
US plans to inject capital into banks: Paulson
WASHINGTON, October 11, 2008 (AFP) – Treasury Secretary Henry Paulson said Friday that the US government planned to invest directly in US banks to …
IMF, World Bank meet amid financial mayhem
WASHINGTON, October 11, 2008 (AFP) – The International Monetary Fund and the World Bank opened their annual meetings Saturday in the midst of global …
Fear over capital in bank street feeds recession wind in main street
PARIS, October 10, 2008 (AFP) – Businesses needing cash by the end of the month or students seeking a loan for this academic year can expect a hard time …
Singapore economy in recession
SINGAPORE, October 10, 2008 (AFP) – Singapore’s trade-sensitive economy has declined for a second straight quarter, the government said Friday, …
Asian stocks dive as panic erupts over financial crisis
TOKYO, October 10, 2008 (AFP) – Asian stock markets went into a tailspin Friday, with Tokyo down more than 10 percent as fresh panic erupted over fears …
Crisis talks due in Washington; markets in tailspin
TOKYO, October 10, 2008 (AFP) – The world’s major economies were to hold crisis talks later Friday in an attempt to end a massive sell-off on the …
Golden paydays for bankers are over, lawmakers say
PARIS, October 10, 2008 (AFP) – While governments worldwide have not yet agreed on a solution to fix the current global economic crisis, nearly all agree …
Fed announces new $37.8bn cash infusion for AIG
WASHINGTON, October 8, 2008 (AFP) – The Federal Reserve said Wednesday it had authorized a new 37.8-billion-dollar cash infusion into insurance giant …
Global economy in ‘major downturn’ from financial crisis: IMF
WASHINGTON, October 8, 2008 (AFP) – The International Monetary Fund said Wednesday that the global economy was sinking in a maelstrom of financial …
Nervous French savers start gold rush
PARIS, October 9, 2008 (AFP) – The gold merchants of Paris may trade from shops in the shadow of the historic stock exchange building, but their business …
ADB chief says Asia to fare better than rest of world in credit crisis
TOKYO, October 9, 2008 (AFP) – The global financial crisis will have “considerable” effects on Asia but the region will fare well by world …
McCain hits hard but debate lacks game-changer
NASHVILLE, October 8, 2008 (AFP) – John McCain hammered away at unruffled front-runner Barack Obama in Tuesday’s second presidential debate but …