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This is Money
A frantic behind-the-scenes effort to cajole, arm-twist and beg enough congressmen to resurrect the White Houses stricken $700 billion financial rescue package consumed Washington yesterday, as an enfeebled President Bush pleaded with Congress to pass the plan after its stunning defeat on Monday.
Wall Street rally hinders attempts to save bailout
In a month in which stock markets have delivered stomach-churning records, the heart of the financial system has been setting records of its own.
Libor hits record level as confidence evaporates
The cost of borrowing dollars in the overnight interbank market jumped by the biggest ever margin yesterday as the credit markets seized up despite a further co-ordinated attempt by the worlds central banks to restore confidence.
Cost of interbank dollar loans rises by record margin
U.S. securities regulators on Tuesday gave the financial industry a reprieve from marking hard-to-value assets down to fire sale prices, throwing a lifeline to an industry beset by strained credit markets and the latest round of bank failures.
SEC gives banks more leeway on mark-to-market
Gordon Brown was personally fighting to save the proposed 12 billion rescue of Britains biggest savings bank last night amid growing doubts over the deal.
Gordon Brown in struggle to shore up HBOS rescue
Asian markets responded positively to the rebound in American share prices on Wednesday, more hopeful that Washington's bail-out of the banking system would eventually be passed.
Asian shares rise on bailout hopes
Few realise that a nation numbering just 300,000 people has its fingers it so many UK pies. On the high street, Icelandic investor Baugur has built chunky stakes in around 30 retailers, including Hamleys, House of Fraser, Oasis, Debenhams and, appropriately enough, Iceland.
Alarm bells ring as Icelands economy shakes
Savers on both sides of the Irish Sea started to empty accounts of UK banks and put the proceeds into Irish-owned banks in the wake of a controversial plan by the Republic of Ireland yesterday to guarantee all deposits.
Savings flow to Irish accounts as Republic offers solid guarantee
Supermarket giant defied doom with half-year profits of 1.4bn and announced plans to offer mortgages and current accounts.
Tesco plans assault on banking industry