Lehman falls 45% on capital concerns
US stocks suffered their worst fall of the year as a 45 per cent drop in Lehman Brothers shares renewed fears about the health of the global financial system
September 9, 2008
Cost of US loans bail-out emerging
The US began to face the financial consequences of the bail-out of Fannie Mae and Freddie Mac after Congress’s budget watchdog said the housing giants’ operations should sit on the government’s books and the cost of insuring against a US default crept higher
Fannie/Freddie takeover didn’t fix market
The federal takeover set off a short-covering rally on Monday, but the move didn’t repair our financial system. There’s still a huge bill that we taxpayers now have to pay.
Fannie and Freddie taken onto US government books
The operations of mortgage finance companies Fannie Mae and Freddie Mac, which were placed into a federal conservatorship, should now be treated as part of the federal budget, the head of the Congressional Budget Office said
EU frustrates Ukraine’s membership hopes
The European Union declined to offer Ukraine the long-term prospect of EU membership, frustrating Ukrainian officials who said the bloc had thrown away a golden opportunity to stabilise its eastern frontier and encourage political and economic reform in Kiev
HSBC and StanChart step up banking in Vietnam
HSBC Holdings and Standard Chartered Plc won approval to be the first foreign banks to open wholly-owned units in Vietnam, as the communist-run state opens up more to foreign investment.
Lloyd’s of London Chairman urges tax cuts
A 400 million pound tax concession by the Treasury could guarantee the future of the 16 billion pounds Lloyd’s insurance market in London, its chairman said on Monday.