A British resident held at Guantanamo Bay for more than four years returned to Britain a free man on Monday and accused the U.S. government of inflicting medieval torture on him -- with British collusion.
Citigroup Inc is in talks that could see the U.S. government take a bigger stake, a source said, sparking a recovery in the battered share price of what was once the country's most valuable bank.
Oil rose above $40 a barrel on Monday, recovering from earlier losses after sentiment was lifted by a report that the U.S. government could end up owning as much as 40 percent of Citigroup.
Outside advisers to the Treasury are lining up contingency financing options for General Motors Corp and Chrysler LLC as part of a review of restructuring options for the auto makers, a Treasury official said on Monday.
The official commented to Reuters after the Wall Street Journal reported that outside advisers to the Treasury were talking with lenders about financing of at least $40 billion fo...
U.S. oil rose above $40 a barrel on Monday, recovering from earlier losses, after a report that said the U.S. government could end up owning as much as 40 percent of Citigroup sparked relief among investors and lifted sentiment.
But persistent worries about the health of the global economy and its impact on world energy demand continued to rank high on investors' concerns, keeping oil prices ran...
to also convert their preferred shares into common stock, the Journal reported.
Until most of the news is known, there will be a lot of volatility and probably a downward trend in the equity market because we don't know how much pain for investors government measures will induce, said Dariusz Kowalczyk, chief investment strategist with SJS Markets in Hong Kong.
By which I mean, will curr...
something that is anathema to many U.S. politicians, executives and voters.
This gives you the sense that authorities' worries have intensified that problems relating to the U.S. economy may potentially spill over to the rest of the world, said Sailesh Jha, senior regional economist at Barclays Capital, in Singapore.
At a summit in Berlin on Sunday, European Union leaders backed a doubling...
The 10 million extra government-provided condoms are poised, final touches being put on huge floats depicting Queen Cleopatra and Can-can dancers, and the Barack Obama masks are flying off the shelves.
to also convert their preferred shares into common stock, the Journal reported.
Until most of the news is known, there will be a lot of volatility and probably a downward trend in the equity market because we don't know how much pain for investors government measures will induce, said Dariusz Kowalczyk, chief investment strategist with SJS Markets in Hong Kong.
By which I mean, will curr...
Europe said on Sunday it was time to get tough with tax havens and strictly oversee all financial markets as part of sweeping reforms to avoid future meltdowns.
European Union leaders met in Berlin to forge a common approach to the global economic downturn that they can take to a meeting in April of the G20, a group of rich and big emerging economies charged with reforming the rules of world fina...
Federal Reserve Chairman Ben Bernanke this week will offer assurance that help is on the way for the troubled U.S. economy and may offer clues on additional steps that could be taken to halt an ever-steepening dive.
was blamed by some politicians for exacerbating the banking crisis and economic meltdown.
In the United States, regulators will soon launch a series of stress tests to determine which of the U.S. banks should get bigger capital cushions in case of a deeper recession, a person familiar with the plans of President Barack Obama's administration said.
The largest U.S. banks are well capitali...
European leaders meet on Sunday to form a consensual approach to tackle the global economic crisis, while U.S. President Barack Obama is due to unveil an ambitious plan to cut the ballooning deficit in half by 2013.
Financial markets plumbed new lows last week on fears governments may have to intervene to nationalize struggling banks and as grim global economic data sent investors scurrying to se...
Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.
Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.
He said the bankruptcy of Lehman Brothers in September marked a t...
U.S. Secretary of State Hillary Clinton said on Saturday the United States and China could help the world recover from economic crisis by working together, adding Washington appreciated Beijing's confidence in U.S. government debt.
The global economy may be deteriorating even faster than it did during the Great Depression, Paul Volcker, a top adviser to President Barack Obama, said on Friday.
Bank of America Corp shares sank below $3 and Citigroup Inc tumbled below $2 on Friday, hammered by growing fears that the U.S. government could nationalize the banks, wiping out shareholders.
and it's getting worse, said Nouriel Roubini, a prominent New York University economist who forecast much of the credit and housing recession.
The cost of insuring $10 million of Citigroup debt for five years rose to $475,000 annually from $405,000 on Thursday, according to data from Phoenix Partners Group.
The cost of insuring Bank of America debt rose to $275,000 a year from $245,000.
S...
The White House said on Friday it strongly believed in a privately held bank system, after rumors that the U.S. government could nationalize banks caused shares in Bank of America and Citigroup plummet.
Let me reassure as best I can on banks, White House press secretary Robert Gibbs told a briefing with reporters.
This administration continues to strongly believe that a privately held bank...
Gold rose above $1,000 an ounce on Friday for the first time since March last year as nervous investors piled into the yellow metal to preserve wealth amid a tumbling stock market.
Long-term inflation worries fanned by the massive U.S. economic stimulus package signed by President Barack Obama this week has driven investors into gold, which is perceived as the most likely asset to hold its value ...
The Nasdaq turned higher on Friday, while both the Dow and S&P 500 sharply cut losses, after the White House said it strongly believed a privately held banking system was the correct way to go, tempering investor fears about possible nationalization.
CNBC reported that the U.S. Treasury department will provide some details on the Obama administration's bank rescue plan next week, helping fin...
they are sidelining the dollar strength, sidelining deflationary concerns and lower oil prices. They are very much buying gold as a safe-haven asset, Cooper said. There is potential for us to breach the $1,000 level.
Saxo Bank senior manager Ole Hansen said the deteriorating macroeconomic picture and inflows into exchange-traded funds were currently the main influences on the gold price, n...
