emergency loans

Fed Reserve gave $9 trillion emergency loans to US banks


December 2nd, 2010 - 2:36 pm ICT by IANS
By Arun Kumar Washington, Dec 2 (IANS) The Federal Reserve, America's central bank, made $9 trillion in overnight loans to major banks and Wall Street firms during the financial crisis, according to ... Read more...

Posted in Business |

IMF offers $450 mn flood aid to Pakistan


September 2nd, 2010 - 11:04 pm ICT by IANS
Washington, Sep 2 (DPA) The International Monetary Fund Thursday pledged $450 million in emergency loans to Pakistan to help the country cope with a massive flood disaster. The IMF is also in talks ... Read more...

Posted in World |

Greece receives $17.9 bn bailout loan from EU


May 18th, 2010 - 6:18 pm ICT by IANS
Athens, May 18 (DPA) Greece received a vital 14.5-billion-euro ($17.9-billion) bailout loan from the European Union Tuesday, officials said, just hours before the country is scheduled to pay a 9-billion-euro bond which ... Read more...

Posted in World |

Obama proposes Wall Street tax to recover bail-out funds


January 14th, 2010 - 11:40 pm ICT by IANS
Washington, Jan 14 (DPA) US President Barack Obama Thursday proposed a tax on Wall Street's biggest banks to recover more than 100 billion dollars in bail-out funds handed out at the ... Read more...

Posted in Business |

Cheaper bank bail-outs lead Obama to weigh job spending


December 8th, 2009 - 3:19 am ICT by IANS
Washington, Dec 8 (DPA) US President Barack Obama is mulling whether to inject more public funds into the struggling jobs market in the US, taking advantage of the less-than-expected cost of ... Read more...

Posted in Business |

New start for GM as it exits bankruptcy


July 11th, 2009 - 1:06 am ICT by IANS
New York, July 10 (DPA) Troubled US carmaker General Motors was given a new lease of life Friday, exiting a 40-day bankruptcy process. GM signed the deal that would transfer its best assets ... Read more...

Posted in Business |

Major US banks pay back emergency government loans


June 18th, 2009 - 7:51 am ICT by IANS
Washington, June 18 (DPA) A number of major US banks Wednesday returned emergency loans of more than $68 billion that they had received from the government at the height of the ... Read more...

Posted in Business |

US stocks rise on housing optimism


June 3rd, 2009 - 5:51 am ICT by IANS
New York, June 3 (DPA) Major US stock indices posted gains Tuesday amid improving housing figures, but financial stocks fell amid some new share offerings by top Wall Street firms. Sales of ... Read more...

Posted in Business |

Japan to provide up to $60 billion in crisis fund


May 3rd, 2009 - 1:34 pm ICT by IANS
Bali Island (Indonesia), May 3 (DPA) Japan will establish an emergency fund of up to 60 billion dollars in the event of an Asian financial crisis, Japanese Finance Minister Kauru Yosano said ... Read more...

Posted in Business |

ADB to set up $3 bn emergency fund to fight downturn


May 2nd, 2009 - 3:30 pm ICT by IANS
Bali, May 2 (DPA) The Asian Development Bank (ADB) plans to set up a $3-billion fund to help developing member countries cope with the global economic crisis, its president, Haruhiko Kuroda, said ... Read more...

Posted in Business |

Chrysler declaring bankruptcy, seals deal with Fiat (Lead)


May 1st, 2009 - 12:09 am ICT by IANS
Washington, April 30 (DPA) The long ailing US carmaker Chrysler was to enter bankruptcy protection Thursday after last-ditch efforts to get an out-of-court agreement with its creditors collapsed, President Barack Obama ... Read more...

Posted in Business |

GM announces new cost cuts, axes Pontiac for survival


April 27th, 2009 - 11:01 pm ICT by IANS
Washington, April 27 (DPA) General Motors Corp. announced another round of drastic cost-cutting measures Monday in its latest bid for survival, including abandoning its Pontiac brand and offering bondholders, employees and ... Read more...

Posted in Business |

Restructure or face bankruptcy, Obama tells US carmakers


March 30th, 2009 - 11:31 pm ICT by IANS
Washington, March 30 (DPA) The struggling US car industry will be given one last chance to restructure operations or lose the government's support, President Barack Obama announced Monday, declaring that General ... Read more...

Posted in Business |

GM’s Henderson possible interim chief after Wagoner (Lead)


March 30th, 2009 - 9:06 am ICT by IANS
New York, March 30 (DPA) Frederick "Fritz" Henderson, second in command at beleaguered General Motors Corp (GM), is the likely candidate to take over the firm amidst reports that GM head ... Read more...

Posted in Business |

GM boss to step down: Report


March 30th, 2009 - 8:10 am ICT by IANS
Washington, March 30 (DPA) Rick Wagoner will resign as head of General Motors Corp (GM) under an agreement with the government to continue bailing out the struggling carmaker, the Detroit Free ... Read more...

Posted in Business |

Fed grants GM’s financial arm to avail bailout funds


December 25th, 2008 - 7:46 am ICT by IANS
Washinton, Dec 25 (Xinhua) The US Federal Reserve Wednesday approved General Motor's financial arm GMAC Financial Services' request to become a bank holding company, allowing it to tap into the $700 billion ... Read more...

Posted in World |

Tokyo stocks up on US car rescue plan


December 22nd, 2008 - 2:31 pm ICT by IANS
Tokyo, Dec 22 (DPA) Stocks in Tokyo opened stronger Monday after the US announced to guarantee emergency loans to ailing US automakers.Buoyed also by a weaker yen, the benchmark Nikkei 225 Stock ... Read more...

Posted in World |

General Motors calls on UK Govt. to rescue it


December 13th, 2008 - 11:02 am ICT by ANI
London, Dec.13 (ANI): General Motors, which employs 5,500 people around the UK, is in talks with the British government to secure cash to allow it to continue operating in what the ... Read more...

Posted in World |

Canada unveils $3.5-billion bailout for auto industry


December 13th, 2008 - 10:18 am ICT by IANS
Toronto, Dec 13 (IANS) Even as the US Senate rejected a $14-billion bailout for its three auto giants, Canada Friday unveiled its own $3.5-billion aid package for the struggling subsidiaries of General ... Read more...

Posted in Business |

Talks to save US auto industry collapse


December 12th, 2008 - 6:10 pm ICT by ANI
Washington, Dec.12 (ANI): Efforts to salvage a proposed 14 billion dollar rescue plan for the American auto industry collapsed on Thursday as both Republicans and Democrats failed to agree on the ... Read more...

Posted in World |

British PM to ask UAE for bailout funds


November 2nd, 2008 - 4:56 pm ICT by IANS
Abu Dhabi, Nov 2 (IANS) British Prime Minister Gordon Brown will arrive in the United Arab Emirates (UAE) capital Monday on a two-day visit in the final leg of his four-day Gulf ... Read more...

Posted in Business |

Loan repayments are going well:British bank


October 14th, 2008 - 6:48 pm ICT by IANS
London, Oct 14 (DPA) Britain's nationalised mortgage lender Northern Rock said Tuesday it was "well ahead" of its government loan repayment target, having paid back more than half of the 26 billion ... Read more...

Posted in Business |

Market crisis hits poor as well


October 11th, 2008 - 9:28 am ICT by IANS
Washington, Oct 11 (DPA) As the world's richest nations debate how to bring a catastrophic financial crisis under control, international groups are warning that its reach now goes far beyond the developed ... Read more...

Posted in Uncategorized |

Triple crises could reverse gains in Africa: IMF


October 11th, 2008 - 6:35 am ICT by IANS
Washington, Oct 11 (DPA) Sub-Saharan Africa is facing a spike in inflation and a slowdown in growth over this year and the next as it deals with the triple threats of food ... Read more...

Posted in World |

Obama wants more checks on Wall Street firms


March 28th, 2008 - 12:49 am ICT by admin
DPA Washington, March 27 (DPA) Democratic presidential hopeful Barack Obama Thursday called for revamping regulation of Wall Street firms to combat an "ethic of greed" among investors that has created an uneven economy ... Read more...

Posted in World |

Bush claims to be ‘on top’ in dealing with economic slump


March 18th, 2008 - 11:22 am ICT by admin
By Arun Kumar Washington, March 18 (IANS) President W. George Bush has welcomed the US central bank's sweeping intervention in the financial markets, saying his administration is "on top of the situation" in ... Read more...

Posted in World |

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