Member 4861


Fed creates commercial paper-buying facility (Reuters)

07-10-2008 23h01
Reuters - The Federal Reserve on Tuesday announced it would create 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 markets.

Russian talks to bail out Iceland as crisis bites (Reuters)

07-10-2008 22h47
Reuters - 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.

Stocks open up on Fed commercial paper move (Reuters)

07-10-2008 22h41
Reuters - Stocks opened higher on Tuesday after the Federal Reserve moved to unclog the commercial paper market, which is widely used to fund day-to-day business by companies.

BofA drops nearly 8 percent on capital-raising (Reuters)

07-10-2008 22h11
Reuters - Bank of America Corp shares fell almost 8 percent on Tuesday, the day after the company said it would cut its dividend and raise $10 billion to offset rising loan losses.

Australia rate cut stuns, markets thirst for more (Reuters)

07-10-2008 20h39
Reuters - Australia stunned markets with its steepest interest cut in 16 years Tuesday and investors expected that other central banks would follow suit in a coordinated move to combat the global credit crisis.
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