United States

Sunday, October 12th 2008 - 20:00 UTC
Talks to consolidate US automakers GM and Chrysler

The Unites States automobile giants General Motors and Chrysler are in talks about a possible merger, according to reports in the US media. Apparently talks have been going on for a month but details of the deal are not clear and neither party has made any direct official comments.
Sunday, October 12th 2008 - 20:00 UTC
Bipartisan support for US plan to purchase private bank equities

Two United States Treasury Secretaries James Baker and Lawrence Summers spoke out in favour of the need for the federal government to assume partial ownership of US banks during the Sunday morning television show “This week”.
Saturday, October 11th 2008 - 21:00 UTC
Obama supports Paulson's plan to buy equities in banks

United States presidential candidate Barak Obama on Friday welcomed a plan by Treasury Secretary Henry Paulson to buy equity in financial institutions if necessary to halt market turmoil.
Thursday, October 9th 2008 - 21:00 UTC
US spiraling debt clock in Times Square runs out of digits

United States government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiraling figure.
Wednesday, October 8th 2008 - 21:00 UTC
Lack of credit is forcing US car dealerships to close

The financial crisis is hurting automotive dealers across United States and could contribute to an estimated 700 dealerships closing this year, the US National Automobile Dealers Association Chairwoman Annette Sykora said on Tuesday.
Tuesday, October 7th 2008 - 21:00 UTC
Lehman Brothers CEO took home 300 million USD in pay

The head of failed United States investment bank Lehman Brothers told Congress on Monday that he took home about 300 million US dollars in pay and bonuses over the past eight years.
Tuesday, October 7th 2008 - 21:00 UTC
DJI below 10.000 mark and FTSE 100 falls to 4.589

Wall Street's Dow Jones Industrial Average fell as much as 800 points to trade below the 10,000 mark Monday as nervousness over the credit crisis spread after the US government's 700 billion USD bailout and interventions in Europe only seemed to add to investor anxiety.
Tuesday, October 7th 2008 - 21:00 UTC
Fed next move to unclog financial system: lower rates

Faced with worst economic and financial market crisis since 1929, Federal Reserve Chairman Ben Bernanke on Tuesday sent a strong signal that officials may lower interest rates against a backdrop of waning price pressures.
Tuesday, October 7th 2008 - 21:00 UTC
Space engineer named to unclog “toxic” banking mess

Neel Kashkari, 35, a United States Assistant Secretary of the Treasury, was named on Tuesday interim head of the Office of Financial Stability by US Treasury Secretary Henry Paulson. The office will run the 700 billion US dollars financial bailout program signed into law Friday.
Saturday, October 4th 2008 - 21:00 UTC
Rescue plan included “shot of rum” for US Caribbean islands

The United States economy received a 700 billion US dollars shot in the arm Friday, and Puerto Rico and the US Virgin Islands got a shot of assistance from rum, according to the US Caribbean territories press.