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UK banks scramble to boost capital

Four banks are locked in discussions with the authorities to finalise details of a recapitalisation that is likely to see them commit to raising more than £35bn

ABN purchase a deal too far for RBS

Sir Fred Goodwin’s reputation has taken a battering since last year when RBS made the decision to lead a consortium that acquired Dutch bank ABN Amro for €71bn at the height of the boom

Lloyds rescue of HBOS stays on track

Lloyds’ offer was still 0.83 shares for each HBOS share, but there was some suggestion that there could be a new exchange ratio of between 0.6 and 0.71

Wall Street in biggest fall since 1987 crash

The US stock market suffered its largest loss since the crash of 1987 amid panic over GM, Morgan Stanley and several big insurers, heightening speculation that the US would unveil a bank recapitalisation plan soon

US in de facto support for bank liabilities

The US is likely to strengthen its implicit guarantee for all bank deposits and bank debt but stop short of a formal legal guarantee, as it tries to save its banks without destroying its non-bank financial sector

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Fear grips the money markets

Interactive feature: How do money market funds work and what are the consequences of the recent problems in the aftermath of a fund ‘breaking the buck’

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Management

Brown offers Europe a lesson in leadership

Wolfgang Munchau

The good news is that governments are at last abandoning an ad hoc approach in favour of a systematic response, writes Wolfgang Münchau

How to capitalise the banks and save finance

The international financial system needs repairing , but there are grounds for optimism, writes George Soros

A cruel wind

The strategy of debt-fuelled growth that transformed Reykjavik into a financial powerhouse now leaves Iceland facing an uncertain future

Markets throw one tantrum after another

For most of the past year, senior bankers have struggled to avert a collapse of faith in modern finance. Tragically, as this month’s events show, they have largely lost this fight, writes Gillian Tett

The Lehman legacy: Catalyst of the crisis

Dick Fuld

Treasury secretary Hank Paulson’s refusal to rescue the 158-year-old Wall Street bank took the upheavals into their latest and most severe phase

The shocking errors of Iceland’s meltdown

Iceland flag

Politicians should not become central bank governors. David Oddsson is part of the problem and should resign now, writes Richard Portes

The excesses of pragmatism

There are circumstances in which people are forced to choose which they want more – democracy or prosperity. We are picking the latter, writes Christopher Caldwell

Man in the News: Gordon Brown

The British prime minister’s bold response to the financial crisis has caused the country to look at him with fresh eyes

More stories

GE takes hit as consumers default on debt

Wells Fargo clinches strategic victory

Speculators pile pressure on ICICI

Yamato files for bankruptcy

New EU members spared worst of crisis

ICE joins banks for global clearing solution

GE Capital scales back lending

GM shares at lowest since 1950s

Citi pulls out of Wachovia battle

BofA to push ahead on Merrill

Dexia to benefit from Belgian bank guarantee

Iceland woes prompt Baugur to seek clarification

Joe Lewis snaps up Tchenguiz’s stake in M&B

CBA buys BankWest for A$2.1bn

RBI sale appears uncertain

BofA raises $10bn on day shares fell 26%

AIG under fire for $370,000 trip to resort

Fuld says Lehman victim of short sellers

Fed to hold CDS clearance talks

BofA to raise $10bn in capital