Wall Street panic rolling over consumers worldwide
The worst financial crisis since the 1930s was stark reality for millions on Wednesday as retirement savings evaporated, jobs disappeared, stock market values slipped again and a dramatic cut in interest rates by central banks from Europe to Asia did little to stem three weeks of near panic.
I.M.F. Calls for Aggressive Response to Crisis
If governments do not forge a coordinated response to the financial crisis, it could spill over to emerging markets, the International Monetary Fund said on Wednesday in warning that the worldÃ¢â‚¬â„¢s Ã¢â‚¬Å“matureÃ¢â‚¬Â marketsÃ¢â‚¬Â face their biggest challenge since the Depression.
Brazil, Mexico Pump Dollars Into Market to Stem Currency Routs
Brazil sold dollars for the first time in five years and Mexico offered $2.5 billion in a bid to shore up currencies that have been ravaged by the worst financial crisis since the Great Depression.
Dollar Falls Versus Euro on Joint Rate Cuts by Central Banks
The dollar declined the most against the euro in more than two weeks as global central banks made coordinated reductions in borrowing costs, reducing demand for the U.S. currency as a haven from credit market turmoil.
UK Banks face a regulatory revolution
Evolution rather than revolution is the way the British financial sector usually develops. But when revolution comes to the City, it often comes, oddly enough, from government.
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