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• UK bails out banks as Europe acts
Britain bailed out three major banks with 37 billion pounds ($64 billion) on Monday, as European governments used taxpayers' cash to take control and boost confidence in the battered industry. In return for the British government's cash, which could ...
• Wall Street stages huge rally after bank aid
Investors in Asia and Europe were already buying, grabbing stocks after last week's rout and action by major governments over the weekend to bolster investor confidence. In Asia, Hong Kong's Hang Seng index surged 10.2 percent. Markets in Japan were ...
• U.S. moves to get $700 billion rescue started
The announcement came as Europe’s central banks began to take unified actions Monday aimed at easing the credit crisis. The coordinated efforts by European and U.S. authorities to prop up the banking system brought a measure of relief to markets ...
• World markets soar after last week's rout
HONG KONG - Global stock markets rebounded strongly on Monday after last week's historic sell-off as governments from Europe to Australia and the United States intensified efforts to ease a financial crisis that threatened to the throw the world into ...
• American Paul Krugman wins economics Nobel
In an Oct. 12 article on the New York Times’ Web site, Krugman wrote about the global financial meltdown and its reach into Europe, saying that British Prime Minister Gordon Brown and Chancellor Alistair Darling “defined the character of the ...