US President George W.
Bush has announced a plan for the government to buy shares in banks. Speaking to reporters at the White House, Bush said the government would also temporarily insure most new debt issued by American banks. The plan is said to be worth around $250 billion and Bush said it would come from a $700 billion bank bailout that was approved by lawmakers earlier this month. This latest rescue European stock markets slip back into the red ...
Bank uncertainty hits UK shares ...
Beckstein to step down ... package is reported to be similar to plans unveiled by a number of European governments over the past few days. The bailout schemes have helped the markets back into positive territory over the past couple of days. Frankfurt's DAX index is up by almost six percent. In London, the FTSE 100, and the CAC 40 in Paris have posted similar gains. They've been following a trend set by stocks in Asia. Tokyo's Nikkei index, which had been closed on Monday, had its biggest ever one-day gain, closing trading up by 14 percent.
(Deutsche Welle)
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