Mortgage bail-out rallies markets
Monday, September 8th, 2008Financial markets rally as the US government says it is taking over mortgage lenders Freddie Mac and Fannie Mae in the biggest bailout in US history.
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Financial markets rally as the US government says it is taking over mortgage lenders Freddie Mac and Fannie Mae in the biggest bailout in US history.
Pension fund finances get worse
Monday, September 8th, 2008Pension fund finances worsened in August, with the collective deficit of the UK's final salary pension schemes widening to £36.7bn.
Technical glitch halts LSE trades
Monday, September 8th, 2008The London Stock Exchange has suspended trading due to a technical problem.
China and Japan hail U.S. mortgage rescue as doubts linger
Monday, September 8th, 2008TOKYO/LONDON (Reuters) - China and Japan, the biggest buyers of Freddie Mac and Fannie Mae bonds, on Monday praised Washington for rescuing the ailing mortgage giants, but investors said the bailout had not ended global credit market misery.
OPEC ministers gather, set for no change
Monday, September 8th, 2008VIENNA (Reuters) - OPEC ministers on Monday gathered in Vienna ahead of a meeting to review output policy, but were widely expected to leave formal targets unchanged, especially as a powerful hurricane could lift oil prices.
Freddie, Fannie plan protects taxpayers: Paulson
Monday, September 8th, 2008LONDON (Reuters) - Treasury Secretary Henry Paulson said in an interview with U.S. radio broadast on Monday that a plan to take control of Freddie Mac and Fannie Mae had been structured in a way to protect U.S. taxpayers.
Lehman reshuffles top management
Monday, September 8th, 2008US investment bank Lehman Brothers announces a shake-up of senior management as speculation about overseas interest intensifies.
Origin eyes $8 billion joint venture with Conoco to fend off BG
Monday, September 8th, 2008PERTH/LONDON (Reuters) - Origin Energy Ltd , fending off an $11 billion hostile bid from Britain's BG Group Plc , is to spin off its coalbed methane assets into a joint venture with U.S. oil major ConocoPhillips .
Russia aims to corner energy market: U.S. official
Monday, September 8th, 2008ROME (Reuters) - Russia aims to extend its control over energy deliveries to the West and it is important that European countries push forward on efforts to diversify routes for oil and gas supplies, a senior U.S. official said on Monday.
Altria to buy UST for $10.4 billion
Monday, September 8th, 2008CHICAGO (Reuters) - Altria Group Inc has agreed to buy smokeless tobacco company UST Inc for $10.4 billion, the companies said on Monday, in a move that will combine the Marlboro cigarette brand with the Skoal and Copenhagen smokeless tobacco products.