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Mortgage bail-out rallies markets

BBC News | Business | World Edition — Mon, 08 Sep 2008 13:47:32 +0000

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

BBC News | Business | World Edition — Mon, 08 Sep 2008 13:47:10 +0000

Pension 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

BBC News | Business | World Edition — Mon, 08 Sep 2008 13:14:04 +0000

The London Stock Exchange has suspended trading due to a technical problem.

China and Japan hail U.S. mortgage rescue as doubts linger

Reuters: Business News — Mon, 08 Sep 2008 12:47:19 +0000

TOKYO/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

Reuters: Business News — Mon, 08 Sep 2008 12:34:52 +0000

VIENNA (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

Reuters: Business News — Mon, 08 Sep 2008 12:32:20 +0000

LONDON (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

BBC News | Business | World Edition — Mon, 08 Sep 2008 12:32:10 +0000

US 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

Reuters: Business News — Mon, 08 Sep 2008 12:27:28 +0000

PERTH/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

Reuters: Business News — Mon, 08 Sep 2008 12:10:20 +0000

ROME (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

Reuters: Business News — Mon, 08 Sep 2008 12:01:12 +0000

CHICAGO (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.