Member 5366


Wall Street jumps on Citi bailout (Reuters)

25-11-2008 05h17
Reuters - Stocks rallied on Monday as investors applauded the decision by Washington to inject $20 billion into Citigroup in an effort to prevent a bank collapse which could have endangered the global financial system.

Citigroup gets massive government bailout (Reuters)

25-11-2008 04h59
Reuters - The government rescued Citigroup Inc, agreeing to shoulder most of the potential losses from $306 billion in its risky assets and inject $20 billion in new capital, its biggest effort yet to prevent a big bank from failing.

Existing home sales drop 3.1 percent in October (Reuters)

25-11-2008 00h07
Reuters - The pace of sales of existing homes in the United States fell 3.1 percent in October to a 4.98 million-unit annual rate, while the median home price dropped to its lowest in more than four years, a National Association of Realtors report showed on Monday.

UK sets new economic plan, Obama seeks swift action (Reuters)

25-11-2008 04h56
Reuters - President-elect Barack Obama called on his new economic team to act "swiftly and boldly," and Britain said it planned a round of tax cuts and new spending to battle its worsening financial woes.

Wachovia execs may get $98.1 million severance (Reuters)

25-11-2008 05h18
Reuters - Wachovia Corp , which lost $33 billion in the last two quarters, said 10 top executives may be entitled to $98.1 million in severance pay after the bank is acquired by Wells Fargo & Co .

European stocks soar on Citigroup rescue, govt stimulus plans (AFP)

25-11-2008 02h00
AFP - European stock markets soared Monday, posting gains of 10 percent and more as investors cheered a bailout for US banking giant Citigroup and the prospect of more government money to ease the pain of recession.

UK PM taxes rich to help fund economic recovery (AP)

25-11-2008 05h04
AP - British Prime Minister Gordon Brown set out plans Monday to raise an income tax rate for the first time in three decades, abandoning a pledge that had carried his Labour Party to power.
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