Britain nationalised Bradford & Bingley on Monday, making the buy-to-let mortgage lender the second bank to be taken into public ownership this year as a deepening financial crisis claims more victims around
German lender Hypo Real Estate struck a last-minute deal with a consortium of banks for credit to resolve a refinancing squeeze it faced, the group said early on Monday. Earlier, sources with
European shares fell sharply early on Monday, led by banks, as news of Fortis's partial nationalisation left investors concerned a U.S. bailout package may not be enough to help stabilise the sector.
The U.S. dollar rose against the euro on Monday as a banking crisis worsened in Europe, while Asian stocks fell 2 percent on questions on the effectiveness of a U.S. government plan
Wachovia Corp is in talks with rivals to be taken over, sources familiar with the situation said on Sunday, after the U.S. bank's shares fell 27 percent on Friday due to concerns
Belgian-Dutch bank Fortis denied on Friday it faced a liquidity crisis and pledged to speed up asset sales as it became the latest focus of investor concern about Europe's fragile financial sector.
The London Stock Exchange said volatile markets boosted trading volumes in the first five months of its financial year, but its shares fell on continued concern over competition. In a statement on
Washington's failure to agree a bailout plan for the U.S. shattered banking system sent global stocks sharply lower on Friday and weakened the dollar, while the crisis put money markets under massive
German airline Lufthansa met Alitalia's unions on Friday to discuss a possible stake in the struggling airline as Italy pushed to wrap up labour talks to seal an investor bailout. Rivals Lufthansa
The world's top cell phone maker Nokia will unveil its long-awaited first touch screen phone at a media and analyst event in London next week, two industry sources told Reuters on Friday.
