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Business 19 Sep 2008 | 12:00 AM

Morgan in talks as fear grips financial markets

Morgan Stanley topped the list of major financial services firms scrambling to sell themselves as fear gripped global credit and stock markets, with former emerging markets darling Russia paralysed.

Business 19 Sep 2008 | 12:00 AM

Gold surges, pulls back in response to credit news

NEW YORK (AP) - Gold briefly shot above $900 an ounce Thursday as panicky investors poured money into safe-haven assets, but the metal later gave back its gains on a report that the government may move more aggressively to steady the teetering financial system.

Nation 19 Sep 2008 | 12:00 AM

KLCI closes below 1,000 points for first time in two years

The KL Composite Index (KLCI) dropped below the psychologically important 1,000-point mark for the first time in almost two years as worsening financial turmoil in the United States sapped global investors' appetite.

Business 18 Sep 2008 | 12:00 AM

US stocks tumble after government bailout of AIG

Wall Street plunged again Wednesday as anxieties about the financial system ran high after the government's bailout of insurer American International Group Inc. and left investors with little confidence in many banking stocks.hr noshade size=1 width=50%>

Business 17 Sep 2008 | 12:00 AM

New York employees stunned and angry over firm’s failure

Stunned and angry, Lehman Brothers' employees packed their bags at company headquarters in New York, with some bitterness over the 158-year-old company's failure aimed at chief executive Richard Fuld.

Business 17 Sep 2008 | 12:00 AM

Investors throng Singapore office of AIG unit

Hundreds of anxious investors thronged the Singapore office of a unit of American International Group (AIG) to redeem their policies yesterday, on fears the US insurance giant could be the next financial firm to tumble.

Business 17 Sep 2008 | 12:00 AM

Foreign banks' influence seen in mortgage rescue

WASHINGTON (AP) - Foreign central banks cut back sharply on their purchases of Fannie Mae and Freddie Mac securities in July, a development that helped spur the U.S. government's bailout of the mortgage giants, data released Tuesday by the Treasury Department show.

Business 17 Sep 2008 | 12:00 AM

Barclays to buy Lehman banking divisions for US$250M

British bank Barclays PLC says it will acquire Lehman Brothers' North American investment banking and capital markets businesses for US$250 million in cash.

Business 16 Sep 2008 | 12:00 AM

Meltdown in US finance system pummels stock markets, Dow down 500 pts

The upheaval in the American financial system sent shock waves through the stock market Monday, producing the worst day on Wall Street in seven years as investors digested the failure of one of its most venerable banks and wondered which domino would be next to fall.

Business 09 Sep 2008 | 12:00 AM

Asian markets surge on US move

The KL Composite Index (KLCI) rose yesterday, but lagged behind sharper gains in other Asian markets, as nervous investors continued to stay on the sidelines amid domestic political concerns.