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Financial Markets


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Europe readies action plan to avert global crisis

PARIS/WASHINGTON, Oct. 12, 2008 (Reuters) — European leaders hoped to agree on a detailed plan in Paris on Sunday to prevent market panic and stave off what the International Monetary Fund warned could be a global financial meltdown. ...  > full story

EU leaders to study crisis plan in Paris

PARIS, Oct. 12, 2008 (Reuters) — Leaders of euro zone countries hold an emergency meeting in Paris on Sunday hoping to agree on specific, pan-European measures to prevent market panic from triggering the most severe global downturn in decades. ...  > full story

Australia guarantees bank deposits to combat crisis

CANBERRA/WELLINGTON, Oct. 12, 2008 (Reuters) — Australia and New Zealand gave a blanket guarantee to all bank deposits Sunday in a move likely to raise pressure on other economies to do the same, amid a crisis of confidence in the global financial system. ...  > full story

Chrysler, GM have merger talks: sources

DETROIT/NEW YORK, Oct. 11, 2008 (Reuters) — Chrysler LLC has had talks with General Motors Corp about a deal to combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to three people familiar with the matter. ...  > full story

Obama thanks McCain for remarks, presses attack

PHILADELPHIA/DAVENPORT, Iowa, Oct. 11, 2008 (Reuters) — Democrat Barack Obama praised his rival John McCain for toning down the vitriol of the U.S. presidential race on Saturday but pressed an effort to cast him as out of touch on the economy. ...  > full story

IMF warns of financial meltdown as crisis rages

WASHINGTON, Oct. 11, 2008 (Reuters) — The International Monetary Fund warned on Saturday that debt-ridden banks were pushing the global financial system to the brink of meltdown and rich nations had so far failed to restore confidence. ...  > full story

G7 vows to fight credit crunch but details sketchy

WASHINGTON, Oct. 11, 2008 (Reuters) — The world's rich nations vowed on Friday to take all necessary steps to unfreeze credit markets and ensure banks can raise money but they offered no collective course of action to avert a deep global recession. ...  > full story

General Motors, Chrysler in merger talks: NY Times

WASHINGTON, Oct. 10, 2008 (Reuters) — General Motors is in preliminary talks about a possible merger with fellow U.S. automaker Chrysler, The New York Times reported late on Friday. ...  > full story

Paulson says U.S. planning to buy financial equity

WASHINGTON, Oct. 10, 2008 (Reuters) — The United States is developing plans to buy equity stakes in financial institutions, providing another weapon in its war against financial market turmoil, U.S. Treasury Secretary Henry Paulson said on Friday. ...  > full story

Obama offers plan to offer credit to small firms

CHILLICOTHE, Ohio, Oct. 10, 2008 (Reuters) — Democratic presidential candidate Barack Obama on Friday proposed a new loan program for small businesses, saying it would help stem job losses amid the deepening financial crisis. ...  > full story
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