Sweden, Britain intervene in Iceland bank crisis

Oct. 8, 2008

REYKJAVIK, Iceland (AP) -- Iceland's biggest bank received an emergency loan from Sweden on Wednesday, and Britain said it would guarantee deposits in an Icelandic bank's online unit as the financial crisis engulfing this tiny Nordic nation showed no sign of easing....

Bank sues Trump over Chicago tower loan

CHICAGO, Nov. 29 (UPI) -- Deutsche Bank Trust Co. Americas has sued developer Donald Trump, saying he failed to make good on a loan guarantee for his Chicago skyscraper, records show.

Iceland secures $2.1 billion IMF loan

REYKJAVIK, Iceland, Nov. 20 (UPI) -- The International Monetary Fund has agreed to loan Iceland $2.1 billion, bringing Iceland's borrowing total to more than $5 billion, the government said.

Britain guarantees Icesave accounts

LONDON, Nov. 6 (UPI) -- The British Treasury will cover $1.57 billion in losses suffered by British citizens with accounts at a failed Icelandic bank, Alistair Darling said Thursday.

Faeroe Islands offers Iceland a loan

TORSHAVN, Faeroe Islands, Oct. 30 (UPI) -- The semi-autonomous Faeroe Islands -- affiliated with Denmark -- have offered Iceland a loan of $52.3 million, the Icelandic government said Thursday.

Nordic neighbors vow to help Iceland

HELSINKI, Finland, Oct. 28 (UPI) -- Nordic prime ministers, after meeting in Helsinki, Finland, vowed to assist Iceland recover from its financial crisis.

Sweden extends Carnegie Bank's credit line

STOCKHOLM, Sweden, Oct. 28 (UPI) -- Sweden's Riksbank has agreed to provide Carnegie Investment Bank with special liquidity assistance after regulators declared the firm in good health.

Iceland turns to IMF for $2 billion loan

REYKJAVIK, Iceland, Oct. 24 (UPI) -- Icelandic Prime Minister Geir Haarde said the government has requested a loan of $2 billion from the International Monetary Fund.

Europol, Iceland partner on drug bust

REYKJAVIK, Iceland, Oct. 17 (UPI) -- Europol and Icelandic police have raided an illicit drug laboratory, resulting in the arrest of three suspects involved in an organized criminal group.

Emerging countries reach for life lines

WASHINGTON, Oct. 17 (UPI) -- The list of countries, like Iceland, Hungary and Ukraine, seeking outside financial help may soon grow, an International Monetary Fund official said.

Iceland's neighbors pitch in with loans

REYKJAVIK, Iceland, Oct. 15 (UPI) -- Norway and Denmark stepped up to help neighbor Iceland through its financial crisis, the Icelandic central bank said.

Iceland's banking crisis threatens Britain

REYKJAVIK, Iceland, Oct. 11 (UPI) -- The Icelandic government agreed Saturday to quicker repayment of British deposits in the online bank Icesave.

Banks seized, trading halted in Iceland

REYKJAVIK, Iceland, Oct. 9 (UPI) -- Iceland's stock exchange halted trading Thursday after the government seized control of two more of the country's major banks.

Iceland stays its hand with banks for now

REYKJAVIK, Iceland, Oct. 6 (UPI) -- Bankers and Icelandic officials worked through the weekend to find a solution to the country's ailing financial system, the government said.

Credit crisis threatens Iceland

REYKJAVIK, Iceland, Oct. 3 (UPI) -- Iceland has been hit hard by the credit crisis, with the government taking control of the country's third largest bank this week.

UBS to downsize its investment bank

ZURICH, Switzerland, Oct. 3 (UPI) -- Swiss bank UBS said Friday it would trim its investment bank workforce by an additional 2,000 workers in the wake of a global financial crisis.