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USA UK and Malta News
11/10/2008 - 19:16

UK Today Editoweb 11 october 2008

Sarkozy and Merkel prepare crisis plan - Iceland and Britain agree in principle on Icesave - US tech stocks not immune to market downturn.



Sarkozy and Merkel prepare crisis plan

French President Nicolas Sarkozy and German Chancellor Angela Merkel paved the way on Saturday for European measures to tackle the global financial crisis but revealed little about their plans.

Iceland and Britain agree in principle on Icesave

Iceland and Britain said on Saturday they had made "significant progress" and agreed in principle on an accelerated payout to retail depositors of failed Landsbanki's Icesave bank.

US tech stocks not immune to market downturn

Even the giants of technology did not emerge unscathed from the bloodbath this week on Wall Street.

IMF warns of financial meltdown as crisis rages

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.

IMF, World Bank meet amid financial mayhem

The International Monetary Fund and the World Bank opened their annual meetings Saturday in the midst of global financial chaos that has governments racing to find the means to tame it.

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