USA UK and Malta News
06/10/2008 - 20:09

USA Today Editoweb 6 october 2008

New steps to help Dexia are in the works: Belgian PM - Biggest FTSE Fall For 20 Years - Wachovia in limbo amid court battle.

New steps to help Dexia are in the works: Belgian PM

Belgian Prime Minister Yves Leterme said Monday that new steps would be taken in the days ahead to shore up French-Belgian bank Dexia, which has already received 6.4 billion euros from authorities in Belgium, France and Luxembourg.

Biggest FTSE Fall For 20 Years

The FTSE 100 index of leading UK shares has suffered its biggest one-day fall since the 1987 crash amid the deepening global financial crisis.

Wachovia in limbo amid court battle

A US court battle left the fate of troubled lender Wachovia Corp. in limbo Monday with Wells Fargo pressing to close its acquisition despite a challenge from banking rival Citigroup.

U.S. calls for united front as crisis wrecks markets

Governments and central banks around the world grasped at measures to contain the fast-spreading financial crisis on Monday but global stocks still plummeted as investors bet a recession was inevitable.

Deepening finance crisis causes global market panic

Desperate new measures by governments in Europe and North America to stabilise the financial system failed to stop panic selling that swept global markets Monday amid deepening gloom at the scope of the banking crisis.

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