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Business 05 Oct 2008 | 12:00 AM

Sarkozy: EU budget rules to be adapted for crisis

PARIS (AP) - The leaders of Europe's four major powers called Saturday for flexibility on applying EU economy rules as they tackle a global financial crisis, and took a solemn vow'' to support their banks, French President Nicolas Sarkozy said.

Business 02 Oct 2008 | 12:00 AM

ECB expected to hold interest rate steady

The European Central Bank is expected to hold its benchmark interest rate steady later Thursday as inflation fears outweigh the growing financial crisis.

Business 01 Oct 2008 | 12:00 AM

Rejection of US bailout proposal hits world stock markets

For those who predicted that the era of American dominance in the economic and political spheres was waning with the rise of China and India, the stream of bad news from Wall Street and its negative impact on major markets must surely come as a reality check.

Business 30 Sep 2008 | 12:00 AM

Markets start to tumble after bailout rejection

Japanese, Australian, New Zealand and other markets opened lower Tuesday after the U.S. Congress failed to ratify a rescue package for the troubled American financial sector.

Business 29 Sep 2008 | 12:00 AM

Fortis bank gets US$16.4b bailout

Dutch-Belgian bank and insurance giant Fortis NV was given a euro11.2 billion ($16.4 billion) lifeline to avert insolvency as part of a wider bailout plan agreed to by Belgium, the Netherlands and Luxembourg, officials said Sunday.

Business 24 Sep 2008 | 12:00 AM

BOJ pumps another US$14.2b into markets

The Bank of Japan pumped another 1.5 trillion yen (US$14.2 billion) into money markets Wednesday, amid an effort among the world's central banks to calm worries about a global financial crisis.

Business 24 Sep 2008 | 12:00 AM

US Fed plows US$30b Wednesday in money markets overseas

WASHINGTON (AP) - The Federal Reserve, in coordinated action with foreign central banks, plowed $30 billion into money markets overseas Wednesday, part of an ongoing effort to fight a global credit crisis.

Business 20 Sep 2008 | 12:00 AM

World’s central banks pump even more money

The world's central banks yesterday kept striving to free up jammed money markets, pouring in more money even as stocks and the US dollar rallied in response to an emergency US plan to mop up toxic debt.

Business 19 Sep 2008 | 12:00 AM

Details on US weighing plans to ease financial crisis

The Bush administration asked lawmakers Thursday for the power to rescue banks by buying distressed assets that lie at the heart of the financial system's crisis.