Belgium to take steps to reassure Fortis clients
BRUSSELS AFP - Belgiums finance minister said the government would take steps to reassure clients of troubled banking group Fortis and hold talks with BNP Paribas after shareholders rejected its breakup. ...
French banks expected to merge February 26- source
PARIS AFP - Top French banks Caisse dEpargne and Banque Populaire are expected to announce a merger to form the countrys second biggest bank on February 26- a source close to the talks said Saturday. ...
G7 ministers vow to avoid protectionism
Group of Seven finance leaders have vowed to avoid protectionism as they seek to stabilise the world economy and financial markets- a draft statement says. ...
Qantas baggage handlers call off Melbourne strike
Baggage handlers for Qantas have returned to work at Melbourne Airport- after going on strike for about six hours today. ...
Baggage handlers strike delays evening Melbourne flights
Qantas flights out of Melbourne Airport will be delayed into the evening because of a strike by baggage handlers. ...
Melbourne baggage handlers strike delays flights
About 45 baggage handlers at Qantas have walked off the job at Melbourne Airport. ...
US rallies G7 finance heads on recession
The US urged -amp quotexceptional -amp quot action by global economic powers to help the world scramble out of a deepening recession- as the G7 finance leaders met for talks. ...
HBOS bank warns of $A22b loss in 2008
Lloyds Banking Group says that its recently-acquired HBOS banking division will make a pre-tax loss of about STG10 billion $A21.91 billion in 2008. ...
Stimulus funds should flow into economy quickly
Economists say the early impact of the Federal Governments $42 billion stimulus package will be noticed when the payments flow from next month. ...
Stimulus funds should flow into economy quickly
Economists say the early impact of the Federal Governments $42 billion stimulus package will be noticed when the payments flow from next month. ...
US House approves stimulus package
The US House of Representatives has approved President Barack Obamas $US787 billion $1.2 trillion economic stimulus package. ...
Two major US banks freeze home foreclosures
WASHINGTON AFP - Top US banks Citigroup and JPMorgan Chase have imposed moratoriums on home mortgage foreclosures as the government prepares a comprehensive plan to ease the burden of homeowners amid recession- officials said Friday. ...
Northern Taskforce delivers first report
The re-formed Northern Taskforce has delivered its first report to the Federal Government. ...
Airlines given emergency contracts to cover MacAir routes
The Queensland Government has found three airlines to fill some of the gaps left by the collapse of regional carrier- MacAir. ...
US House approves stimulus package
The US House of Representatives has approved President Barack Obamas $US787 billion $1.2 trillion economic stimulus package. ...
Oil breaks out of weeklong price slide
Oil broke out of a weeklong slump on Friday- soaring 13 per cent- as traders prepared for a long Presidents' Day weekend. ...
Two US banks impose moratorium on home foreclosures
WASHINGTON AFP - Top US banks Citigroup and JPMorgan Chase announced Friday moratoriums on home mortgage foreclosures as the government prepared a comprehensive plan to ease the burden of homeowners amid recession. ...
German economy shrinks 2.1
Germany's economy shrank by 2.1 per cent in the final quarter of 2008 compared with the third quarter- officials reported. ...
US House approves stimulus package
The US House of Representatives approved a $US787 billion $1.2 trillion package of spending and tax cuts aimed at rescuing the struggling economy and the Senate was expected to vote on the plan later in the day. ...
US House approves stimulus package
The US House of Representatives approved a $US787 billion $1.2 trillion package of spending and tax cuts aimed at rescuing the struggling economy and the Senate was expected to vote on the plan later in the day. ...
Lloyds shares tumble on HBOS loss
Shares in Lloyds Banking Group plunged 40 per cent overnight after it revealed that HBOS- the bank it rescued last year- had made a loss of $22 billion. ...
LSE appoints French CEO
LONDON AFP - The London Stock Exchange announced on Friday Xavier Rolet- a former senior executive at collapsed US bank Lehman Brothers- as its new chief executive. ...
US rallies G7 finance heads on recession
The US urged -amp quotexceptional -amp quot action by global economic powers to help the world scramble out of a deepening recession- as the G7 finance leaders met for talks. ...
HBOS bank warns of $A22b loss in 2008
Lloyds Banking Group says that its recently-acquired HBOS banking division will make a pre-tax loss of about STG10 billion $A21.91 billion in 2008. ...
Friday 13th brings black news for Europe
A flurry of data revealed the dismal contours of Europe's new economic landscape on Friday- with key economies in deep recession. ...
Two US banks impose moratorium on home foreclosures
WASHINGTON AFP - Top US banks Citigroup and JPMorgan Chase announced Friday moratoriums on home mortgage foreclosures as the government prepared a comprehensive plan to ease the burden of homeowners amid recession. ...
British bank Lloyds warns of ten-billion-pound HBOS loss in 2008
LONDON AFP - Britains Lloyds Banking Group warned Friday that its HBOS division would suffer a 2008 pre-tax loss of about ten billion pounds 11.2 billion euros- 14.5 billion dollars because of the credit crunch. ...
European car sales in 20-year slump- trade
BRUSSELS AFP - European new cars sales slumped in January to the lowest level for twenty years- trade data showed on Friday- boosting the argument of countries such as France which wants to help the ailing sector. ...
Oil prices climb towards $36 in New York
LONDON AFP - Oil prices bounced back toward 36 dollars a barrel in New York on Friday ahead of a long holiday weekend in the United States- traders said. ...
Fitch downgrades Ukraine ratings over crisis
KIEV AFP - Ratings agency Fitch downgraded Ukraines main debt on Friday- citing fears of a full banking and currency crisis and adding to the strains in a country at risk of losing the second slice of an IMF loan. ...
G7 host Italy dives deep into recession
ROME AFP - Italy reeled on Friday from grim news which it will bring to the table as the host of Group of Seven economic crisis talks- with data showing it is deeper in recession than expected and protesters taking to the streets. ...
EU car sales plummet to record lows
The European car manufacturers' association says European sales of new cars have plummeted to the lowest level in two decades. ...
Stock markets plunge after US bank plan announced
LONDON AFP - Stock markets in Europe and the United States fell sharply Tuesday as investors deemed a US bank stabilisation plan to be inadequate. ...
Lloyds Group warns of £10 bln HBOS loss
LONDON AFP - Britains Lloyds Banking Group warned Friday that its HBOS division would suffer a 2008 pre-tax loss of about ten billion pounds 11.2 billion euros- 14.5 billion dollars because of the credit crunch. ...
Fitch downgrades Ukraine ratings over crisis
KIEV AFP - Ratings agency Fitch downgraded Ukraines main debt on Friday- citing fears of a full banking and currency crisis and adding to the strains in a country at risk of losing the second slice of an IMF loan. ...
Shell declares force majeure on Nigeria exports
LAGOS AFP - Oil giant Royal Dutch Shell said Friday it has declared force majeure on shipments from its main Nigerian terminal because of increased attacks by insurgents on key facilities. ...
European car sales in 20-year slump
BRUSSELS AFP - European new cars sales slumped in January to the lowest level for twenty years- trade data showed on Friday. ...
Stimulus plan payouts on track for roll-out
Payments from the Federal Governments $42 billion economic stimulus package will roll out on schedule now that the plan has been approved by Parliament. ...
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