No image available
Bank crisis returns to markets
Citigroup and Bank of America faced new doubts over their ability to fund their massive losses as their shares sank on Wednesday.
No image available
Former Nasdaq chairperson held for fraud
Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday with allegedly running a -billion Ponzi scheme.
No image available
US steps in to save Citi, Obama eyes tax relief
The US government agreed to prop up Citigroup with more than -billion, the latest bailout in a sector crippled by exposure to toxic debts.
No image available
Lehman files for bankruptcy, plans to sell units
Lehman Brothers has filed for bankruptcy protection, after trying to finance too many risky assets with too little capital.
No image available
Lehman sets asset sales plan, posts $4bn loss
Lehman Brothers, desperate for capital and fighting for its survival, unveiled a plan to shed weak assets and sell a stake in its funds business.
No image available
Citigroup CEO Prince to resign
Citigroup chief executive Charles Prince plans to resign this weekend, the Wall Street Journal said on Friday, as the widening subprime mortgage crisis brings to an end the reign of Sanford Weill’s troubled successor. The largest United States bank by assets plans to hold an emergency board meeting on Sunday, at which Prince will step down.
No image available
World Trade Centre insurers in $2bn settlement
Seven insurers have agreed to pay an additional -billion to developers of the World Trade Centre, resolving all outstanding claims from the September 11 2001 attacks and speeding redevelopment of the site, New York State officials announced on Wednesday.
