Word: britains
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...Banks may get some clarity soon. On Friday, finance ministers from the G-7 nations will meet in Washington, D.C., to discuss a coordinated response to the financial crisis. Adrian Mowat, chief Asia and emerging-market strategist for JPMorgan in Hong Kong, says that central bankers may follow Britain's lead by pumping liquidity into their banking sectors and underwriting loans between banks. "The situation is so serious that they will have to deal with it," Mowat says. "The collapse and crash this week means they must...
There's absolute agreement that banks have to be recapitalized. Britain, for one, has already done so, offering its big banks $692 billion in capital in return for preference shares. U.S. Treasury Secretary Henry Paulson announced this evening that the U.S. is working on a plan to go this route, saying that it intends to use some of the $700 billion rescue package passed by Congress to pour money (with some strings attached) into any bank that needs funds. But Japan and E.U. countries like Germany have been reticent...
...Journals based in Britain, including The Lancet and the British Medical Journal, are among those that have pledged to follow COPE’s standards...
There's nothing like an external enemy to make a country pull together, and Britain, fractious and dissatisfied with its Labour government until recently, has found a fresh foe: Iceland. The tiny country's benign image as a land of geysers and the midnight sun has been swiftly eclipsed by its new incarnation as the mustache-twirling villain of the credit crunch. Britons - from private individuals to local government, charities and public bodies - have deposited some $34 billion in Iceland's financial institutions, among them Landsbanki, which went into receivership this week, and Kaupthing, the country's biggest bank, which...
...stock markets may not last as policymakers continue their search for a solution to the global financial crisis. According to a report in the New York Times, the U.S. Treasury Department is considering taking part ownership of U.S. banks, effectively guaranteeing the solvency of the country's financial system. Britain announced a similar plan to shore up shaky banks by helping them refinance debt in exchange for ownership stakes. That move toward partial nationalization of the banking system underscores just how deep - and how apparently uncontrollable - the financial panic has become. With few tools left to central bankers seeking...