HONG KONG (Reuters) - Asian stocks fell about 4 percent, down for a fifth consecutive day, and government bond prices rose on Wednesday as fears of a looming global recession grew with no sign of a coordinated response or an end to the worsening financial meltdown.
NEW YORK (Reuters) - Wells Fargo & Co is likely to get about 75 to 80 percent of Wachovia Corp's deposits, while Citigroup Inc would get the remainder, a person briefed on the matter said on Tuesday.
SYDNEY (Reuters) - Central banks across Asia stepped up to offer more support to commercial banks on Wednesday, to try to ease painful pressure on funding costs from a vicious global credit squeeze.
NEW YORK (Reuters) - Aluminum producer Alcoa Inc said it was halting major capital projects in the face of uncertain markets, after it posted a lower-than-expected quarterly profit on softer demand in key sectors like the aerospace and auto industries.
NEW YORK (Reuters) - Stocks tumbled for a fifth straight session on Tuesday, capping the Dow's biggest five-day point loss ever, as fears mounted that the rapidly spreading credit crisis would drag the economy into a deep recession.
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