US President George W.
Bush has announced a $250 billion 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. US Treasury Secretary Henry Paulson told reporters in Washington that nine banks have agreed to the conditions set out by the government for the purchase of preferred shares. This latest rescue 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. Pardon sought for black US boxer ...
China and UK issue joint stamps to mark Olympics handover ...
US seeks boost to Pakistan F-16s ... Frankfurt's DAX index closed up by 2.7 percent. In London, the FTSE 100, and the CAC 40 in Paris have posted similar gains. Earlier, Tokyo's Nikkei index, which had been closed on Monday, had its biggest ever one-day gain, closing trading up by 14 percent. In New York, Wall St. is up by around four percent in early trading.
(Deutsche Welle)
more info >>
<< Back