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USA UK and Malta News
05/10/2008 - 19:45

UK Today Editoweb 5 october 2008

Porsche won't rule out FY08/09 profit rise - German Govt Offers Bank Guarantee - Belgian and Luxembourg seek Fortis buyer, BNP eyed.



Porsche won't rule out FY08/09 profit rise

Porsche SE would not rule out another profit rise for the financial year to end-July 2009 even as global financial markets fall deeper into crisis, its chief executive was quoted on Sunday as saying.

German Govt Offers Bank Guarantee

The German government has offered a guarantee for all private savings accounts - as one of its major banks faces collapse.

Belgian and Luxembourg seek Fortis buyer, BNP eyed

Belgium and Luxembourg were desperately searching for a buyer for troubled financial group Fortis before markets opened on Monday as concerns grew over the future of rival Dexia.

EU provisionally approves Benelux bailout of Fortis

EU regulators have provisionally approved the original three-country bailout package for troubled finance group Fortis, a spokesman said Sunday, though the deal is swiftly being superceded.

Germany's Hypo tests bank stability vow

Germany said on Sunday that it would not allow troubled lender Hypo Real Estate to infect its banking system in the first test of a pledge by European leaders to restore financial stability

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