More than $25 trillion has been sliced off global equities in 2008. European Banks have carved out $226.8 billion of the worldwide total subprime losses of $635 billion since the financial crisis started last year. Last week alone was the worst week on the Dow Jones since 1914. The MSCI World Index, an index showing [...]

Yesterday, the Australia Government took the unprecedented move of backing all Australian Deposits in a trillion dollar three year move that most of you would have heard about. This backing also includes Australian oversea’s bank borrowings which highlight the Governments concern that Australian deposits overseas are still vulnerable. The guarantee will extends to all deposits [...]

The G7 probably disappointed most observers with a statement that was long on principles but short on specifics. For a world that’s screaming for a magic bullet, the G7’s statement fell far too short. Basically, the G7 plan calls for all banks to be recapitalised using public and private funds. This is the master plan [...]

The United States and India signed a potentially lucrative agreement on Friday that would allow India to buy U.S. civil nuclear technology for the first time in three decades.

General Motors is in preliminary talks about a possible merger with fellow U.S. automaker Chrysler, The New York Times reported late on Friday.