Bush, allies pledge joint action on global crisis
President Bush and foreign financial officials displayed joint resolve Saturday to combat the unfolding financial crisis, hoping to calm investors whose panic has spread despite bold and accelerating government action.
Nations:Germany U.K. France India Brazil Italy People:Henry Paulson Joseph Biden Barack Obama John McCain Activities:2007 Global Credit Crunch Bush Admin.
2008-10-11
European markets recover lost ground
European markets on Thursday recovered some of Wednesday's hefty losses after a relatively steady performance in Asia overnight, with British banking stocks in particular enjoying a strong rally in the wake of the government's 500 billion pound ($865 billion) rescue plan.
Nations:U.K. Germany France South Korea Iceland Luxembourg Activities:European Markets 2007 Global Credit Crunch Source:(AP)
2008-10-09
Fed slashes interest rates, but stocks lose again
Wall Street bounced higher and lower Wednesday trying to make up its mind about an unprecedented coordinated interest rate cut by central banks around the world. In the end it settled on a familiar feeling -- fear -- and plunged again.
Nations:Switzerland Germany Sweden France Canada People:Gordon Brown Henry Paulson Ben Bernanke Barack Obama Charles Schumer John McCain Activities:U.S. Markets
2008-10-08
Fed, central banks cut rates to aid world economy
In a rare coordinated move, the Federal Reserve and other major central banks from around the world slashed interest rates Wednesday to prevent a mushrooming financial crisis from becoming a global economic meltdown.
Nations:Switzerland Germany Sweden Japan France Canada People:Ben Bernanke Barack Obama John McCain Activities:2007 Global Credit Crunch
2008-10-08
Fed orders emergency rate cut to 1.5 percent
The Federal Reserve, acting in coordination with other global central banking authorities, cut a key U.S. interest rate by half a percentage point Wednesday to steady an economy teetering on a collapse reminiscent of the 1929 stock market crash.
People:Ben Bernanke Activities:2007 Global Credit Crunch
2008-10-08
Deepening finance crisis causes global market panic
PARIS (AFP) - Desperate new measures by governments in Europe and North America to stabilise the financial system failed to stop panic selling that swept global markets Monday amid deepening gloom at the scope of the banking crisis.
Nations:France Germany Luxembourg Portugal Denmark Brazil People:Nicolas Sarkozy Gordon Brown George W. Bush Activities:2007 Global Credit Crunch U.S. Markets
2008-10-06
AIDS pioneers and cancer researcher win Nobel prize
STOCKHOLM (Reuters) - Two French scientists who discovered the AIDS virus and a German who found the virus that causes cervical cancer were awarded the 2008 Nobel prize for medicine or physiology on Monday.
Nations:France Sweden People:Ronald Reagan Jacques Chirac
2008-10-06
Europeans scramble to save failing banks
STOCKHOLM, Sweden - Germany joined Ireland and Greece on Sunday in guaranteeing all private bank accounts, putting Europe's biggest economy at odds with calls for a unified European response to the global financial meltdown.
Nations:Germany France Iceland U.K. Sweden Ireland People:Nicolas Sarkozy Angela Merkel Activities:2007 Global Credit Crunch
2008-10-05
Paul Newman, actor who personified cool, dies
WESTPORT, Conn. - Paul Newman, the Oscar-winning superstar who personified cool as the anti-hero of such films as "Hud," "Cool Hand Luke" and "The Color of Money" -- followed by a second act as an activist, race car driver and popcorn impresario -- has died. He was 83.
Nations:U.S. People:Paul Newman Jackie Gleason John Huston Lauren Bacall Sally Field Robert Altman Activities:Cannes Film Festival Sundance Film Festival
2008-09-27
Rep. Barney Frank predicts bailout deal by Sunday
WASHINGTON - The Bush administration and Congress anxiously revived negotiations Friday on a $700 billion financial bailout, one day after the largest bank collapse in U.S. history provided a brutal reminder of the risks of failure.
Nations:U.S. People:John Boehner Gordon Brown Henry Paulson Roy Blunt Nancy Pelosi Ben Bernanke Activities:2008 U.S. Financial Rescue
2008-09-26
China tainted milk crisis triggers global recalls
BEIJING - An industrial chemical that made its way into China's dairy supplies and that authorities blame in the death of four babies has turned up in numerous Chinese-made exports abroad -- from candies to yogurt to rice balls.
Nations:New Zealand Taiwan U.K. Singapore U.S. Indonesia People:Ma Ying-jeou Wen Jiabao Activities:2008 China Milk Scandal Source:(AP)
2008-09-24
Change in plans reportedly saved Pakistani leaders
ISLAMABAD, Pakistan - Pakistan's top leaders were to dine at the Marriott devastated by a truck bombing over the weekend, but changed the venue at the last minute, a senior official said Monday. A hotel official, however, denied there were any plans for a government dinner.
Nations:Pakistan Afghanistan People:Benazir Bhutto Activities:2008 Islamabad Bombing
2008-09-22
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