The Federal Reserve on Tuesday announced the creation of a special-purpose facility with the Treasury Department's blessing to begin buying commercial paper in yet another emergency move aimed at calming chaotic financial
Middle East stock markets slumped to multi-year lows on Tuesday as speculation intensified that a five-year Gulf property boom was over and that developers would be forced to merge as financing conditions
European Union finance ministers agreed to guarantee bank deposits up to 50,000 euros ($67,930), against 20,000 euros under current rules, a document viewed by Reuters said on Tuesday. Ministers agreed that the
Russia negotiated an emergency bailout for Iceland and unveiled an aid package for its own banks on Tuesday, while Japan called for greater coordination in tackling the global financial crisis. Australia reacted
Britain and its banks will hold more urgent talks over a possible multi-billion pound injection of public money into the sector over coming days, an industry source said as the financial crisis
What if there were a run on a bank and no one knew? In recent days some U.S. media have focused on a "silent run" on the deposits of Wachovia bank,
EBay Inc said it will cut 10 percent of its work force and spend about $1.3 billion to buy online payment and classified companies to counter a slowdown in its main web
Chip maker Advanced Micro Devices said on Tuesday it will hive off its pricey manufacturing plants, get a cash injection and shrink its debt to compete harder against bigger rival Intel for
Western governments and central banks faced demands for coordinated action on Tuesday after Australia responded to the escalating global financial crisis by cutting its interest rates sharply. Equities across much of Asia
Bank of France Governor Christian Noyer said on Tuesday no French bank was close to bankruptcy and there was no reason for stock markets to collapse since the companies listed on them
