U.S. works on bank debt plan, UK targets shorts
NEW YORK/WASHINGTON (Reuters) - Governments on both sides of the Atlantic took radical steps to restore confidence in battered financial markets on Thursday, as the United States proposed a taxpayer-funded mopping up of toxic mortgage-related debt and Britain cracked down on short selling of bank stocks.
WaMu still weighing sale, capital raising: sources
PHILADELPHIA/NEW YORK (Reuters) - Washington Mutual Inc, the large U.S. savings and loan beleaguered by mortgage losses, continues to explore all options, such as talking to potential buyers or raising capital, sources familiar with the situation said on Thursday.
HSBC walks away from $6.3 billion South Korea bank buy
SEOUL (Reuters) - HSBC dropped a $6.3 billion offer for 51 percent of Korea Exchange Bank , blaming turmoil in financial markets and ending what would have been the biggest cross-border move in South Korea's bank sector.
Freddie Mac says Lehman owed it over $1.2 billion
NEW YORK (Reuters) - Freddie Mac said on Thursday it has yet to receive payments of more than $1.2 billion due from Lehman Brothers Holdings , which went bankrupt after the U.S. government refused to bail out the investment bank.
New AIG chief sees smaller, nimbler firm: report
(Reuters) - American International Group Inc may become a smaller firm with hopefully many of its largest insurance operations intact after assets are sold to pay back a federal loan, new Chief Executive Edward Liddy told the Wall Street Journal in an interview.
Morgan Stanley-Wachovia talks raise doubts
NEW YORK (Reuters) - The logic of a Morgan Stanley merger with Wachovia Corp was questioned Thursday by investors and analysts, who worried that embattled investment bank Morgan would not improve its prospects by merging with Wachovia, a bank with severe credit problems.
More to come from SEC on short sales: Cox
WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission said the agency would have more to say on short-selling rules "as early as tomorrow" and commissioners were meeting on Thursday night to address the Bush administration's proposal to calm financial markets.
Asia keeps cash flowing to markets despite rally
SYDNEY/SEOUL (Reuters) - Asia-Pacific nations kept up their efforts on Friday to shield the region from the fallout of Wall Street upheaval even as stock markets rallied in response to emergency action from the world's top financial authorities.
Banks borrow $48 billion from Fed as crisis mounts
NEW YORK (Reuters) - U.S. financial institutions borrowed a record $47.97 billion a day on average from the U.S. Federal Reserve in the latest week in a scramble for cash as the global credit crisis deepened, Federal Reserve data showed on Thursday.
Wall St rallies on crisis solution hopes
NEW YORK (Reuters) -Wall Street had its best day in six years on Thursday as news the government is considering a more comprehensive solution to the financial crisis than the current piecemeal approach spurred a furious late rally.
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