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US bank gets emergency funds
US bank Bear Stearns gets emergency funding from JP Morgan Chase, with the New York Fed's backing.
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Bear Stearns shares plummet as it seeks emergency funding
Wall Street investment bank's future is hanging in the balance after it was forced to ask the US Federal Reserve for an emergency injection of cash
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Money: US Bank Forced To Borrow Over Cash Crisis
US investment banking group Bear Stearns has become the highest profile victim of the global credit crunch, having been forced to ask for emergency funding.
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Fresh banking fears knock shares
US shares fall sharply on renewed fears about the impact of bad mortgage debt and the wider credit squeeze.
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Wall Street investment bank sinks
THE emergency rescue of Wall Street bank Bear Stearns overnight left observers from all quarters wondering who would be the last man standing at the investment bank.
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Credit crunch woes claim America's fifth-biggest bank
Credit crunch claims biggest victim yet when the US Federal Reserve orchestrated an emergency bail-out for Bear Stearns
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Stock markets and dollar plunge again on fears over bank crisis
The rescue of Bear Stearns rocked markets that had barely recovered from the shock of Thursday's news about the state of the American economy, particularly high home repossession rates, which virtually confirmed that the US is entering a recession. As with the problems at one of Carlyle Group's funds, and the rescue of Countrywide by Bank of America, the problems at Bear Stearns further eroded confidence in the US financial system.
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World Bank sees US recession risk
THE US may well be heading into a recession and Europe faces further financial market turmoil, too, but developing countries are showing little signs of being hurt, World Bank president Robert Zoellick said.
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US will 'do what it takes' as Wall St reels
TREASURY Secretary Henry Paulson, bidding to calm reeling global markets, said overnight the US government would "do what it takes" to ensure stability after investment bank Bear Stearns came to the verge of collapse.
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Dollar down on bank rescue
THE dollar opened weaker today, below $US0.9400, as a US Federal Reserve plan to bail out Wall Street's fifth largest investment bank turned investors off high-yielding currencies.
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Sinking US bank ready to be sold - report
STRICKEN US Bank Bear Stearns, fresh from narrowly avoiding collapse, is nearing a deal in which it could be bought by JP Morgan Chase for some $US2.2 billion ($2.3 billion), The Wall Street Journal reported today.
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Bear Stearns to be bought by JP Morgan
FAILED Wall Street investment bank Bear Stearns will be bought by JP Morgan Chase for $US2 a share, company officials said today.
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New fears for world markets as American bank Bear Stearns sold for just £1 a share
One of America's oldest bank's was last night bought out for just £1 a share. JPMorgan Chase said it will acquire rival Bear Stearns in a deal valued at £118 million, a stunning collapse for one of the world's largest and most venerable investment banks
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Banking giants in the spotlight as confidence drains from Wall Street
The bosses of four of Wall Street's biggest investment banks are preparing to report dismal financial results this week, and the short-term stability of the US financial system may well turn on their tone of voice and turn of phrase when they face investors.
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Bank of England sounds alert on credit crisis's impact on economy
The Bank of England will warn today that credit markets have "deteriorated again" and that there is a serious danger of further writedowns by the banks, with the difficulty of securitising loans and mortgages posing a particular problem for the property market and the economy as a whole.
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