Governments across the world moved on Monday to shore up confidence in the global banking system with a slew of bank bailouts worth hundreds of billions of dollars. Stocks markets reacted positively, with European shares opening up more than 4.5 percent following solid gains in Asia. Britain said it would spend up to 37 billion
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Britain's top share index surged 6 percent early on Monday, recouping some of last week's heavy losses as a government plan to pump billions of pounds into the troubled banking sector lifted flagging sentiment. By 0736 GMT the FTSE 100 had gained 236.3 points to trade at 4,168.3 after falling 8.9 percent on Friday and
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The main purpose of the Extraordinary meeting of the Heads of State and Government of the Euro Zone states in Paris was to give a message of support from the EU member states and the European Central Bank to the financial system of the EU countries, President of the Republic of Cyprus Demetris Christofias has
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The fourth meeting of the leaders of the two communities in Cyprus started on Monday in the UN protected area, the UN announced. “Greek Cypriot leader Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat will meet in the United Nations Protected Area of Nicosia (UNPA) on Monday, 13 October 2008, starting at 10 a.m.,
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Britain bailed out three major banks with 37 billion pounds ($64 billion) on Monday as governments around Europe used taxpayers' money to take control and boost confidence in the battered industry. "It's necessary because we are going through quite extraordinary circumstances the world over, and I'm determined to do everything we can to stabilise our
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European central banks said on Monday they would lend out as much U.S. dollar liquidity as commercial banks need in a further joint bid to tame money market tensions. In a joint announcement with the U.S. Federal Reserve, the European Central Bank, the Bank of England and the Swiss National Bank said they would meet
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Marfin Popular Bank Public Co Ltd announced that on October 10, 2008, Andreas Vgenopoulos, Executive Vice Chairman, proceeded with the purchase of 1.158.064 shares of Marfin Popular Bank of total value EUR3.300.731,57 at an average price of EUR 2.85 per share.
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Nations from Europe to Australia rushed out plans on Sunday to shore up their banks, trying to halt a markets crash with pledges to back lending, buy stakes in financial institutions and take other emergency steps. European leaders meeting in Paris said their line of attack would help halt the chaos that has frozen credit
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By Steve Gorman (Reuters) The turmoil on Wall Street is aggravating tough economic times on Main Street as small businesses, accounting for half of U.S. private-sector goods and services, begin to feel squeezed by the credit crunch. Newly tightened lending requirements imposed by some banks are putting added strains on companies already coping with a
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The world readied on Monday for a slew of bank bailouts worth hundreds of billions of dollars in an effort to staunch the credit rout that threatens to tip the global economy into recession. Britain is expected later on Monday to detail plans to inject about 45 billion pounds ($68.4 billion) into four top banks
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