Front Page Page Editor: Jonathan Oatis, Front Page Editor, +1 646 223-6301, [EMAIL PROTECTED] Provided by: Reuters News Updated: 19 September 2008 3:26:24 (GMT+07:00)
Paulson raises RTC-style concept with Congress - source WASHINGTON, Sept 18 (Reuters) - U.S. Treasury Secretary Henry Paulson has been shopping around a proposal to Congress that would create an entity to deal with bad debt in a bid to end the financial turmoil that has rocked global markets, a congressional aide said on Thursday. Story ID: nN18482717 Wall Street rallies on hopes of crisis solution NEW YORK, Sept 18 (Reuters) - Wall Street had its best day in six years on Thursday as a furious rally late in the day was sparked by news that the government is considering a more comprehensive solution to the financial crisis than the current piecemeal approach. Story ID: nN18433173 Morgan Stanley in talks NEW YORK, Sept 18 (Reuters) - Morgan Stanley topped the list of major financial companies scrambling to find a buyer as its shares tumbled another 35 percent, while central banks rushed in $180 billion in extra liquidity to calm panicked stock and money markets. Story ID: nHKG93628 Bush: Ready to take more steps to stabilize markets WASHINGTON, Sept 18 (Reuters) - U.S. President George W. Bush on Thursday expressed concerns about the turmoil in financial markets and said his administration was prepared to go beyond the "extraordinary measures" already taken to strengthen and stabilize them. Story ID: nN18412394 Credit crisis whips U.S. asset managers, stocks slide BOSTON, Sept 18 (Reuters) - Fears of a growing U.S. financial crisis spread to State Street Corp, Federated Investors Inc and other asset managers on Thursday, pummeling their stock prices on concern over mounting portfolio losses and fund redemptions. Story ID: nN18344940 Oil up on U.S. rescue plans, slow Ike recovery NEW YORK, Sept 18 (Reuters) - Oil prices rose on Thursday amid optimism over wide-ranging efforts to solve the U.S. financial crisis and amid mounting concern over the impact of back-to-back hurricanes on U.S. energy inventories. Story ID: nLI163275 Central banks open taps to tackle market squeeze WASHINGTON/FRANKFURT/TOKYO, Sept 18 (Reuters) - The world's top central banks joined forces on Thursday to throw a multi-billion dollar lifeline to global markets in a dramatic effort to free up bank-to-bank lending frozen by upheavals on Wall Street. Story ID: nSP129521 Gold soars above $900 on safe-haven buying NEW YORK, Sept 18 (Reuters) - Gold roared above $900 an ounce in a fierce rally on Thursday, powered by heavy buying as investors sought a safe haven when U.S. stocks turned lower on mounting fears about the health of financial companies. Story ID: nN18466409 Obama urges emergency credit for housing market ESPANOLA, N.M., Sept 18 (Reuters) - U.S. presidential candidate Barack Obama on Thursday urged the Federal Reserve and the Treasury to take emergency steps to keep credit flowing to the troubled housing market, saying it would help stem the huge crisis sweeping financial markets. Story ID: nWBT009746 Rice says "bullying" Russia must be stopped WASHINGTON, Sept 18 (Reuters) - The West must stand up to "bullying" by Moscow and keep Russia from benefiting from its military move into Georgia, U.S. Secretary of State Condoleezza Rice said in a harshly worded speech on Thursday. Story ID: nN18335347 U.S. factories show pocket of strength amid markets gloom NEW YORK, Sept 18 (Reuters) - A measure of U.S. Mid-Atlantic factory activity jumped unexpectedly in September, according to data released on Thursday that offset news of an increase in weekly claims for jobless benefits and provided respite for financial markets roiled by credit turmoil. Story ID: nN18525813 Lloyds rescues HBOS in $22 billion deal LONDON, Sept 18 (Reuters) - Lloyds TSB rescued Britain's biggest mortgage lender HBOS Plc on Thursday in a $22 billion takeover as the government swept aside competition rules to ease the deal through. Story ID: nLI311934 Copyright © 2008 Reuters News
