Ten banks commit to establishing a borrowing facility

September 14, 2008 on 11:50 pm | In Business News | No Comments

NEW YORK (Reuters) - Ten of the world’s biggest banks on Sunday committed to establish a $70 billion (38.7 billion pound) borrowing facility to bolster worldwide liquidity and reduce volatility in what they called an “extraordinary market …

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Ten banks commit to establishing a borrowing facility

Lehman may face failure

September 14, 2008 on 11:36 pm | In Business News | No Comments

NEW YORK (Reuters) - The ruptured U.S. financial system was facing an unprecedented shakeup on Sunday that was expected to lead to the failure of Lehman Brothers, the takeover of Merrill Lynch & Co …

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Lehman may face failure

AIG, facing liquidity crisis, seeks Fed lifeline

September 14, 2008 on 11:33 pm | In Business News | No Comments

NEW YORK (Reuters) - Insurer American International Group Inc, working to stave off rating downgrades and shore up the capital of its holding company, has made an unprecedented approach to the Federal Reserve seeking $40 billion in short-term financing, the New York Times said.

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AIG, facing liquidity crisis, seeks Fed lifeline

Oil falls below $100

September 14, 2008 on 10:29 pm | In Business News | No Comments

PERTH (Reuters) - Oil tumbled below $100 a barrel to a six-month low on early signs that Hurricane Ike may have spared key Gulf Coast infrastructure, although traders were cautious on Monday as they awaited status reports on more Texas refineries.

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Oil falls below $100

Bank of America seen buying Merrill Lynch

September 14, 2008 on 10:27 pm | In Business News | No Comments

NEW YORK (Reuters) - Bank of America will acquire Merrill Lynch & Co for $29 (16 pounds) a share, a deal that will give the bank the world’s largest brokerage and a sizable investment bank, the Wall Street Journal reported on Sunday

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Bank of America seen buying Merrill Lynch

Bank of America in late talks to buy Merrill

September 14, 2008 on 8:06 pm | In Business News | No Comments

NEW YORK (Reuters) - Bank of America on Sunday is in advanced talks to acquire Merrill Lynch & Co , a deal that would give the bank the world’s largest brokerage and a sizable investment bank, according to people briefed in the matter.

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Bank of America in late talks to buy Merrill

U.S. asset prices whipsaw as Lehman talks falter

September 14, 2008 on 8:05 pm | In Business News | No Comments

NEW YORK (Reuters) - U.S. stock futures and the dollar sank late on Sunday as the first official trades of a new business week took place while talks to …

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U.S. asset prices whipsaw as Lehman talks falter

Mild recession seen in second half of 2008

September 14, 2008 on 7:33 pm | In Business News | No Comments

LONDON (Reuters) - Britain is heading for a shallow recession in the second half of this year and next year’s economic growth will be the weakest since 1992, the Confederation of British Industry said on Monday.

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Mild recession seen in second half of 2008

CBI sees mild recession in second half of 2008

September 14, 2008 on 7:26 pm | In Business News | No Comments

LONDON (Reuters) - Britain is heading for a shallow recession in the second half of this year and next year’s economic growth will be the weakest since 1992, the Confederation of British Industry said on Monday.

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CBI sees mild recession in second half of 2008

U.S. asset prices tumble as Lehman talks falter

September 14, 2008 on 7:10 pm | In Business News | No Comments

NEW YORK (Reuters) - U.S. asset prices sank late Sunday as talks to sell Lehman Brothers faltered, with the first official transactions of a new business …

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U.S. asset prices tumble as Lehman talks falter

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