1.
Auto Outlook: Toyota bullish on U.S. comeback
LONDON, Jan. 19 (UPI) -- The British government unveiled new bank-saving measures Monday as the country's largest banks remain mired in turmoil.
Prime Minister Gordon Brown and Chancellor of the Exchequer Alistair Darling said the government would provide partial protection against future lending and a guarantee of up to $72 billion for asset-backed securities, The Wall Street Journal reported.
The government will also extend a credit guarantee plan it initiated in October.
Britain's initial bailout, worth $740 billion, has not contained the financial crisis. Royal Bank of Scotland shares fell 13 percent Friday on word it expected to lose as much as $40 billions in 2008. Barclays PLC shares fell 25 percent Friday.
Brown said the effort to jump start lending "not help for the banks but help for businesses and families."
|
|
|
| Additional Business News Stories | |
WASHINGTON, Feb. 14 (UPI) --
White House critics say raising taxes on domestic energy is bad policy, though supporters counter the U.S. budget addresses the energy sea change.
|
WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
|
Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
|
President Barack Obama has revealed a budget that, once again, will give the Republican party a chance to show that vitriol is more fun than compromise.
|
| Stories | Photos | People | Comments |
View Caption
