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Printing money: £150 billion leap in the dark for Bank of England The Bank of England has taken an historic 'step into the unknown' by pledging to create £150 billion of cash and pour it into Britain's stricken financial system. co.ukSenators rap Fed for handling of AIG rescue Members of the US Senate's banking committee rebuke the Federal Reserve, warning its failure to explain the $163bn injection into the group could block further financial sector bail-outs FT.comMonaco Coach Corp.: Monaco Coach Corporation to Reorganize Under Chapter 11 COBURG, OR (MARKET WIRE) Monaco Coach Corporation (PINKSHEETS: MCOA) today announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The Company plans to continue operating the business as a debtor-in-possession in preparation for one or more sale transactions involving parts or all of the business. Imperial Capital, LLC, the Company's lead investment bank, is actively assisting the Company in working toward a transaction that will allow operations to resume. Market WireStreetscapes | Fifth Avenue and 34th Street: Stanford White's Backdrop for the Panic of 1907 The Panic of 1907 and the sad case of Charles Tracy Barney helped sew the seeds for the mutilation of his superb 1903 bank at Fifth Avenue and 34th Street, designed by Stanford White. The New York TimesICICI Bank cuts home loan rates by 25-50 bps After the recent rate cuts by the RBI, ICICI Bank has cut the interest rates in new home loans by 25-50 bps. The Times Of IndiaAsia stocks slide on Wall St woes, fall limited HONG KONG (Reuters) - Asia stocks slid on Friday after a warning from General Motors' that it may need to file for bankruptcy drove Wall Street shares to 12-year lows and highlighted the severe troubles of major U.S. companies and banks. ReutersSmall-bank leaders hope for lighter burden Small-town bankers were heartened Thursday by news that the FDIC was considering cutting the size of its special emergency assessment on banks. The assessment, unless reduced, will impose a heavy financial burden on the nation's small banks who say they are being unfairly penalized for U.S. banking problems not of their doing. Biz JournalsStandard to take 33% stake in Troika Dialog The South African lender is to take 33% stake in the Russian investment bank, marking the first foray by a foreign bank into Russia's financial sector since it plunged into crisis FT.comCitigroup stock falls below US$1 a share on New York Stock Exchange CHARLOTTE, N.C. - Shares of Citigroup Inc., once the most powerful bank in the United States, fell below US$1 a share Thursday. The stock fell as low as 97 cents in late morning trading. It was down ... bignewsnetwork.comWall Street drops to new 12-year low THE ASX is expected to open lower, after Wall Street plunged more than 4 per cent on more bad news from banks and GM. The Australian1 2 3 4 5 |
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