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Edinburgh Fears Economic Pain as U.K. Takes Control of Banks

posted by sassygirl 1215 days ago in GBP made popular 1215 days ago

Residents of Edinburgh, home to Royal Bank of Scotland Group Plc and HBOS Plc, expect a blow to the city's economy after the British government took control of the banks to avert their collapse.

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UK government takes stake in three banks

posted by sassygirl 1215 days ago in GBP made popular 1215 days ago

The British government on Monday said it would make a multi-billion investment in three of the country's major banks to help them through the "first financial crisis of the global age."

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Scots paying off debt but not saving

posted by sassygirl 1215 days ago in GBP made popular 1215 days ago

The current economic climate has brought the UK's finances into sharp focus, marking the end of the ‘buy now, pay later' culture, but despite gathering economic gloom, two in five (41%) Scots are saving less, according to a new report released to

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Australian dollar gains US4c on Wall Street's record run

posted by mags23 1215 days ago in AUD made popular 1215 days ago

THE dollar was 6 per cent firmer at noon as a record points gain on Wall Street sparked a flurry of demand for high-yielding currencies.

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Business conditions steady despite turmoil

posted by mags23 1215 days ago in AUD made popular 1215 days ago

A key measure of Australian business conditions held broadly steady in September in the face of global financial market turmoil, helped mainly by the booming mining sector, a survey showed on Tuesday.

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Bush to announce expanded bank bailout details

posted by odell 1215 days ago in USD, Fundamental, Consumer made popular 1215 days ago

The Bush administration plans to spend an initial $250 billion of the $700 billion bailout buying stock in private banks, greatly expanding protections for the U.S. financial system out of deep concern for the faltering economy, industry and gove

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EU Nations Commit 1.3 Trillion Euros to Bank Bailouts

posted by odell 1215 days ago in EUR made popular 1215 days ago

France, Germany, Spain, the Netherlands and Austria committed 1.3 trillion euros ($1.8 trillion) to guarantee bank loans and take stakes in lenders, racing to prevent the collapse of the financial system.

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Shares fuelled by Wall St rally

posted by mags23 1215 days ago in AUD made popular 1215 days ago

Australian shares rallied for a second day, surging the most in more than two decades, as governments around the world bailed out banks and Prime Minister Kevin Rudd presented an economic stimulus package to avert a recession.

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US Consumer Credit Declines For First Time In 10 Yrs In Aug

posted by piptographer 1222 days ago in USD, Fundamental, Consumer made popular 1221 days ago

The rate of borrowing by Americans declined for the first time in 10 years during August, a sign of building stress on household finances.

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Russia injects $36 billion in cash to shore up banks

posted by gonepippin 1222 days ago in Fundamental, Daily made popular 1221 days ago

Hours after Russian regulators halted trading for a second day, President Dmitry Medvedev took another step to stabilize his nation’s floundering banking system Tuesday, pumping almost a trillion rubles to help thaw frozen credit markets.

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Dollar and Yen Retreats, Fed to Buy Commercial Paper

posted by sheryl 1222 days ago in USD, JPY, Daily made popular 1221 days ago

Dollar and yen continues to retreat today following higher open in the US stock markets with Dow back above the psychologically important 10,000 level. Dollar index is back below 81 level as dollar retreats. Oil recovers mildly to above 91 level

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Crude Oil Rises Amid Speculation OPEC Will Curtail Productio

posted by dollardude 1222 days ago in Oil made popular 1221 days ago

Crude oil rose, halting a 13 percent decline in the past four days, amid speculation OPEC will curb output because of falling prices.

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