The world’s stock markets reacted positively to the gathering campaign to bail out the world’s troubled banks, with governments on both sides of the Atlantic announcing measures to restore liquidity and inject fresh capital into their ailing banking systems. Equity markets in Asia, Europe and the US all rallied after a record week of losses
Royal Bank of Scotland, Lloyds TSB and HBOS agreed to scrap dividend payments in exchange for a government rescue package of £37bn. RBS is to get £20bn of government money and could end up with the government owning 60% of the bank. Lloyds TSB and HBOS wil raise £17bn from the government. Barclays will separately tap private investors for £6.6bn.
cnmark posted a photo:
Instead of just the well known Hong Kong Island skyline, this shot shows a different view: Hong Kong Island, Victoria Harbour and a bit of Tsim Sha Tsui (Kowloon) - Hong Kong’s other skyline at night.
The most prominent skyscrapers on the island (left) are Jardine House, 1&2 Exchange Square, The Center and 2IFC. Kowloon side it’s the new ICC (still under construction), this will be Hong Kong’s tallest building once finished. Kowloon side also features the Ocean Terminal.
Shot from the HKCEC promenade. Cropped panorama.
mark-pollard posted a photo:
No matter how long you stare,
the bottom of the ocean remains deep.
Just keep paddling:
You’ll make it.
13th October 2008
Tough times demand honest appraisal.
Tell a friend.
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The UK government says it is to inject a total of up to £37bn into Royal Bank of Scotland, Lloyds TSB and HBOS.
Most Asian stock markets react positively after efforts by world leaders to end the financial turmoil.
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