Two small banks fail; brings year’s tally to 15
WASHINGTON (Reuters) - U.S. regulators took over two small banks on Friday, in Michigan and Illinois, bringing the tally of bank failures to 15 so far this year.
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Two small banks fail; brings year’s tally to 15
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G7 pledges urgent, decisive action as markets reel
WASHINGTON/NEW YORK (Reuters) - Finance chiefs of the world’s major economies pledged on Friday to take decisive action and work together to stem the escalating financial crisis after another day of gut-wrenching drops on world markets.
See original here: G7 pledges urgent, decisive action as markets reel
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GM, Ford say not considering bankruptcy
DETROIT (Reuters) - General Motors Corp and Ford Motor Co both ruled out on Friday seeking bankruptcy protection at a time when slow auto sales and the credit crunch have rattled investors and sent their shares plunging.
Read the original here: GM, Ford say not considering bankruptcy
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Mitsubishi UFJ may seek to change M.Stanley deal: report
are preparing for the possibility that Mitsubishi UFJ Financial Group Inc (MUFG) could seek to renegotiate the terms of a planned $9 billion cash injection into the investment bank, CNBC Television reported on Friday.
Read the original here: Mitsubishi UFJ may seek to change M.Stanley deal: report
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Wall St crawls back as G7 meets to tackle crisis
NEW YORK (Reuters) - Wall Street titans buckled under the weight of a global stock market panic on Friday as the finance chiefs of the world’s major economies gathered in Washington to confront the inescapable financial crisis.
Excerpted from:Wall St crawls back as G7 meets to tackle crisis
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Market ends mostly lower after wild session
NEW YORK (Reuters) - The Dow and the S&P 500 dropped for an eighth session on Friday, as a dramatic late-day comeback stalled out to cap the worst week ever for the S&P amid more anxiety about the condition of credit markets and the threat of a global recession.
Excerpt from:Market ends mostly lower […]
Morgan Stanley, MUFG not renegotiating deal: source
NEW YORK (Reuters) - Morgan Stanley and Mitsubishi UFJ Financial Group Inc are not in talks to renegotiate their deal for a $9 billion investment by Japan’s top bank in the U.S. company, a source familiar with the matter said on Friday.
View original here: Morgan Stanley, MUFG not renegotiating deal: source
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Wall St turns higher on G7 action hopes
NEW YORK (Reuters) - Stocks turned positive and the Dow industrials jumped more than 200 points in late afternoon trading on Friday, led by financials in a turbulent session with analysts citing bets that the finance chiefs of the world’s major economies will take coordinated steps this weekend to confront the financial crisis.
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G7 pledges united crisis response but rifts emerge
WASHINGTON (Reuters) - Finance leaders from the world’s rich nations pledged a coordinated response to the credit crisis on Friday but stopped short of backing a British plan to guarantee lending between banks.
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Morgan Stanley, Goldman shares drop on crisis fear
NEW YORK (Reuters) - Morgan Stanley and Goldman Sachs Group Inc shares slumped on Friday after Moody’s Investors Service said it might cut their ratings, reviving worries that they might not be strong enough to survive the credit crisis.
Originally posted here: Morgan Stanley, Goldman shares drop on crisis fear
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Signs of limited credit thaw emerge in money markets
LONDON/NEW YORK (Reuters) - Banks cut the rates they charge each other for overnight loans in U.S. dollars and euros on Friday, and the rate on one-day corporate IOUs eased from Thursday, providing tentative signs that some corners of the credit market are thawing.
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Wall St. slides on credit, recession fears
NEW YORK (Reuters) - Stocks tumbled in a turbulent session on Friday, as panicked investors dumped stocks in a global sell-off on mounting fears that frozen credit markets would push the world into recession.
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Wall St. giants buried in global stock market panic
NEW YORK (Reuters) - Wall Street titans buckled under the weight of a global stock market panic on Friday as the finance chiefs of the world’s major economies gathered in Washington to confront the inescapable financial crisis.
Here is the original: Wall St. giants buried in global stock market panic
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Policy-makers weighing more steps to bolster banks
WASHINGTON (Reuters) - The George W. Bush administration may give an unlimited guarantee to bank deposits or buy a share of major banks in an effort to stabilize the battered financial sector and reeling markets.
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G7 unlikely to adopt UK backstop plan: official
WASHINGTON (Reuters) - The Group of Seven major nations is unlikely to adopt Britain’s proposal to guarantee lending between banks when it meets today, a G-7 official said on Friday.
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