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Job losses prompt action
Policymakers facing mounting job losses prepared new measures to ease the pain on Monday.
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Japanese banks, US carmakers seek funds
Japan’s number three bank sought to beef up its capital on Wednesday, markets fretted over the stricken United States car industry.
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Grim economic data mirrored by corporate gloom
Evidence of a weakening Chinese economy and poor data from Japan and UK reinforced fears on Tuesday of a prolonged recession.
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Companies suffer, China says outlook ‘grim’
China’s president said on Friday the economic outlook was grim and companies from Japan to France were punished.
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Crisis inflicts fresh wounds, UBS cut deepest
Fresh write-offs at big European and Japanese banks on Wednesday drove investors’ attention firmly back onto the credit crunch after days gazing at Société Générale’s stunning losses, which it blames on a junior trader. With the Federal Reserve expected to cut interest rates for the second week running, Swiss bank UBS illuminated the depth of the crisis.
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Bush, Bernanke to launch twin subprime assault
United States President George Bush will outline reforms on Friday to help struggling subprime mortgage borrowers and his central bank chief will deliver a speech which will be pored over for hints of a looming rate cut. Federal Reserve chairperson Ben Bernanke speaks on ”Housing and Monetary Policy” at around 2pm GMT.