Stock markets tumble on new bank fears
Global equity markets tumbled after a £12.5bn rights issue from HSBC and a fresh bail-out of AIG, the US insurance group, spooked investors around the world
March 2, 2009
Mortgages lending fall to tenth of 2007 levels
Mortgage lending dived by more than 60% during January to just one 10th of its level 12 months ago, figures from the Bank of England have showed property for sale signs
Shares tumble on fresh bank fears
London equities tumbled to near six-year lows after HSBC launched a deeply discounted rights issue and AIG confirmed plans to break itself up
AIG failure would still be disastrous for global markets
NEW YORK (Reuters) - A revised bailout of American International Group may be just another “band-aid” solution, but more than five months after it was first rescued by the government the option of letting the insurer fail would still be considered too big a shock to already fragile global markets.
UBS wins top prize in Lipper HK fund awards
HONG KONG (Reuters) - Swiss bank UBS won top honours at the Lipper Fund Awards 2009 Hong Kong, where it was named Best Fund Group Overall.
HSBC to scale back US lending
The bank is expected to announce plans to shrink its US lending operations as it unveils a $17bn-plus rights issue to re-establish its position as one of the best capitalised banks in the world