KUALA LUMPUR (Reuters) - The world readied on Monday for a slew of bank bailouts worth hundreds of billions of dollars in an effort to staunch the credit rout that threatens to tip the global economy into recession.
WASHINGTON (Reuters) - The Federal Reserve on Sunday gave its stamp of approval to the takeover of Wachovia Corp by Wells Fargo & Co of San Francisco, which had battled New York-based Citigroup for ownership of the wounded bank.
NEW YORK (Reuters) - Japan's Mitsubishi UFJ Financial Group, which has watched Morgan Stanley's share price plunge 58 percent last week, is seeking more favorable terms to its $9 billion deal, a person briefed on the matter said.
NEW YORK (Reuters) - Top executives at American International Group Inc knew of potential problems in valuing derivatives contracts, known as credit default swaps, long before questions about the risky transactions caused its stock to plummet, the Wall Street Journal said, citing documents released by congressional investigators.
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