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Edinburgh Fears Economic Pain as U.K. Takes Control of Banks
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
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." 9
Scots paying off debt but not saving
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 5
Australian dollar gains US4c on Wall Street's record run
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. 19
Business conditions steady despite turmoil
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. 21
Bush to announce expanded bank bailout details
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 17
EU Nations Commit 1.3 Trillion Euros to Bank Bailouts
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. 6
Shares fuelled by Wall St rally
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. 
