WASHINGTON (Reuters) - The Federal Reserve on Tuesday announced the creation of a special-purpose facility with the Treasury Department's blessing to begin buying commercial paper in yet another emergency move aimed at calming chaotic financial markets.
REYKJAVIK/LONDON (Reuters) - Russia negotiated an emergency bailout for Iceland and unveiled an aid package for its own banks on Tuesday, while Japan called for greater coordination in tackling the global financial crisis.
NEW YORK (Reuters) - Stock index futures fell on Tuesday after the U.S. Federal Reserve announced its fourth-quarter term auction schedule, unnerving investors who anxiously await signs of some coordinated response by global central banks to unfreeze the credit markets.
NEW YORK (Reuters) - Bank of America Corp shares fell almost 8 percent on Tuesday, the day after the company said it would cut its dividend and raise $10 billion to offset rising loan losses.
SYDNEY/TOKYO (Reuters) - Australia stunned markets with its steepest interest cut in 16 years Tuesday and investors expected that other central banks would follow suit in a coordinated move to combat the global credit crisis.
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