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U.S. lawmaker says AIG had warnings on risk
October 7, 2008 on 1:52 pm | In Business News | No CommentsWASHINGTON (Reuters) - U.S. regulators sent a letter to American International Group Inc in March warning of its lack of transparency and ability to oversee its financial products, a top Democratic lawmaker said on Tuesday.
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U.S. lawmaker says AIG had warnings on risk
Rabobank reduces London operations and cuts jobs
October 7, 2008 on 1:25 pm | In Business News | No CommentsLONDON (Reuters) - Dutch lender Rabobank on Tuesday said it is reducing the number of its staff in London in response to the structural changes in the financial markets.
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Rabobank reduces London operations and cuts jobs
FTSE rebounds on commodities
October 7, 2008 on 1:17 pm | In Business News | No CommentsLONDON (Reuters) - The leading share index rebounded on Tuesday after posting its biggest-ever one-day points fall in the previous session, as gains in commodity stocks offset heavy losses in the ailing banking sector.
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FTSE rebounds on commodities
Fed creates facility to buy commercial paper
October 7, 2008 on 12:29 pm | In Business News | No CommentsWASHINGTON (Reuters) - The U.S. Federal Reserve on Tuesday said it would begin buying the short-term debt many companies use to fund their day-to-day operations, its latest emergency move to try to restore credit flows and protect the economy.
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Fed creates facility to buy commercial paper
RBS shares hit lowest level in 15 years
October 7, 2008 on 12:04 pm | In Business News | No CommentsLONDON (Reuters) - Shares in Royal Bank of Scotland slumped 41 percent in late trading on Tuesday to their lowest level since late 1993 amid concerns over funding needs for the banking sector.
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RBS shares hit lowest level in 15 years
Europe stocks fall as banks slip
October 7, 2008 on 12:02 pm | In Business News | No CommentsLONDON (Reuters) - European stocks drifted lower on Tuesday as mounting concerns about the health of the financial sector hit banks, with shares in Royal Bank of Scotland and HBOS plunging nearly 40 percent.
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Europe stocks fall as banks slip
Spain to boost deposit guarantee and create fund
October 7, 2008 on 11:56 am | In Business News | No CommentsMADRID (Reuters) - Spain will boost its guarantee for deposits in its banks to 100,000 euros and create a 30 billion euro (23.3 billion pound) fund to support the financial system and keep credit flowing to the economy, Prime Minister Jose Luis Rodriguez Zapatero said on Tuesday.
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Spain to boost deposit guarantee and create fund
Fed joins global scramble to contain crisis
October 7, 2008 on 11:51 am | In Business News | No CommentsNEW YORK (Reuters) - Countries scrambled to slow the growing global financial crisis on Tuesday and Wall Street braced for the day after a massive sell-off, nervous about corporate earnings and hoping Fed Chairman Ben Bernanke might offer a ray of hope.
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Fed joins global scramble to contain crisis
BAE unit in $30 mln settlement over body armor
October 7, 2008 on 11:32 am | In Business News | No CommentsWASHINGTON (Reuters) - The Armor Holdings unit of BAE Systems has agreed to pay $30 million (17.1 million pounds) to resolve charges that it knowingly …
Banks in government funding talks
October 7, 2008 on 11:06 am | In Business News | No CommentsLONDON (Reuters) - Britain will hold more talks with banks this week over a possible multi-billion pound injection of public funds, industry sources said as the credit crisis tightened …
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Banks in government funding talks
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