Banks general
Citigroup to slash 50,000 jobs worldwide
17 Nov 2008
US banking major Citigroup today announced plans to cut up to 50,000 jobs worldwide – five times the number reported earlier.
Citigroup may slash 10,000 jobs; directors deny move to replace chairman
14 Nov 2008
Citigroup, which was reportedly in the midst of a possible board shake-up, is now planning a massive round of layoffs, involving up to 10,000 employees, The Wall Street Journal reported.
Bank of England governor says UK economy “very likely” in recession
13 Nov 2008
Mervyn King, governor, Bank of England, admitted yesterday it was “very likely” that the UK economy had entered a recession in the second half of this year."
Tata Communications announces first security compliance consortium for finanacial services
30 Oct 2008
EU urges China, Gulf States to fund IMF
29 Oct 2008
UK Prime Minister Gordon Brown, French President Nicolas Sarkozy have appealed to China and the oil rich Gulf states to contribute to the the IMF fund as its own resources may not not suffiice to aid countries hit by the global turmoil.
IMF and the World Bank set to increase loans
27 Oct 2008
IMF approves $2-billion loan for Iceland
25 Oct 2008
Iceland becomes the second European nation after the UK in 1976, to receice a $2-billion loan from the IMF to save the country from bankruptcy
Goldman Sachs to slash 10 per cent jobs, 3200 employees at risk
24 Oct 2008
Even the venerable Wall Street banker Goldman Sachs has been forcfed to cut jobs to cope with the economic slowdown wrought by the collpse of major banking institutions
Global leaders' summit in Washington on 15 November
23 Oct 2008
The threat of the financial crisis trigerring a deep and prolonged economic slowdown has prompted world leaders to meet in Washington next month
Dutch government pumps €10 billion into ING
20 Oct 2008
HSBC slashes 1,100 jobs
15 Oct 2008
Iceland headed for bankruptcy; PM seeks $5.44-billion Russian loan
08 Oct 2008
Iceland, a NATO memeber has turned down the IMF in favour of an emergency Russian loan, the size of which is almost a third of its GDP.
Financial crisis spreads across boundaries
07 Oct 2008
The global crisis deepened as it spread to other European countries as well on Tuesday.
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