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- NEW YORK — Wall Street tumbled again today as investors worried that the global economy is poised to weaken even as parts of the credit market slowly show signs of recovery. The major indexes fell more than 4 percent, including the Dow Jones ...
- Oct. 22 (Bloomberg) -- Argentine lawmakers will try to block the government's use of $29 billion in nationalized pension assets to repay debt when they consider President Cristina Fernandez de Kirchner 's plan to seize the funds from private money ...
- NEW YORK - How could a $24 billion loss possibly be good news? When it comes from Wachovia as an effort to primp itself for its acquisition by Wells Fargo. Wachovia Corp.'s staggering loss for the third quarter resulted primarily because it wrote ...
- LONDON - The world's worst financial crisis in 80 years hammered emerging markets on Wednesday, prompting emergency central bank moves and calls for international help to curb investor flight. Emerging market stocks, sovereign debt and currencies all ...
- Lending rates among banks in the U.S. and Europe dropped farther Wednesday as central banks' cash loans to banks appear to be unblocking credit markets. The rate on three-month loans in dollars -- known as the London Interbank Offered Rate or Libor ...
- WASHINGTON -- With a federal budget crunch looming, Congress canceled Pentagon plans this month to buy and launch two commercial imagery satellites to complement its network of classified spy craft, military and space industry officials said. House ...
- World leaders lined up a series of summits looking at reforming global finance in the wake of the turmoil on the markets as South Korea became the latest country to shore up troubled banks on Sunday. The summits, announced following talks on Saturday ...
- SEOUL, Oct 19 (Reuters) - South Korea announced on Sunday a package worth over $130 billion to rescue its markets dragged down in the global financial crisis, offering a state guarantee on foreign debt and promising to recapitalise financial firms ...
- Argentina's government announced Thursday it had struck a deal with three foreign banks to renegotiate annual payments on part of its 150-billion-dollar sovereign debt mountain. The accord with Citibank, Deutsche Bank and Barclay's runs to 2012, the ...
- NEW YORK (CNNMoney.com) -- Wall Street rallied Thursday, finding momentum toward the end of a volatile session, as the lowest oil prices in more than a year gave investors a reason to scoop up shares battered in the recent market selloff. The Dow ...
- NEW YORK (Reuters) - American International Group (nyse: AIG - news - people ), the insurance giant that drew fire for executive "golden parachutes" and an ill-timed junket even as it receives a massive taxpayer bailout, has agreed to mend its ways ...
- MEXICO CITY (AP) - Cemex SAB, one of the world's largest cement makers, said Thursday it will cut its worldwide staff of 60,000 by 10 percent and put US$2 billion in assets up for sale as profits tanked and demand slowed amid the global financial ...
- Oct. 16 (Bloomberg) -- Chilean investment bank Celfin Capital SA is firing as much as a 10th of its workforce as an economic slowdown stemming from the global credit crunch damps its expansion plans. Celfin Capital is reducing its staff of 400 people ...
- American International Group Inc. (AIG) appointed the giant insurer's comptroller, David L. Herzog , as chief financial officer. Herzog, 48 years old, will report to Chief Executive Edward Liddy , who replaced Martin Sullivan when AIG accepted a $85 ...
- NEW YORK : Credit ratings agency Standard & Poor's on Thursday said Merrill Lynch & Co. remains on a developing watch after the bank said it lost $5.2 billion, or $5.58 per share, during the third quarter. Merrill Lynch currently carries an "A ...
- MEXICO CITY (Reuters) - Mexico's central bank has offered to pump money into the banking system as the global crisis bites and shuts off loans to Mexican companies. A sharp depreciation in the peso has caused big losses on currency derivatives from ...
- NEW 8:20 a.m. SPRINGFIELD -- Illinois state Treasurer Alexi Giannoulias plans to make a $1 billion deposit in the state’s banks, giving them needed cash for borrowers in a bid to dismantle a credit jam and brace the state during the financial ...
- LONDON, Oct 16 (Reuters) - The bank-to-bank cost of borrowing eased broadly, if slightly, on Thursday as central banks stepped up efforts to provide liquidity, shore up banks and further open up credit lines to institutions needing cash. The ranges ...
- NEW YORK - Investment bank Merrill Lynch & Co. said Thursday its third-quarter loss widened as it took more than $12 billion in charges and write-downs tied to the sale of mortgage investments and fallout from the continued credit crisis. Not only ...
- REYKJAVIK, Oct 15 (Reuters) - Iceland acted to shore up its ravaged economy by slashing borrowing costs on Wednesday and its officials pursued efforts with Russia to get a multi-billion euro loan to help it over its worst financial crisis. Talks in ...
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