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21:32 Stars pay tribute to tragic Houston
21:32 Mariah and Cowell remember Whitney
21:22 Love Parade tragedy: mayor ousted
21:12 Overeating doubles memory risk
20:52 Houston daughter taken to hospital
20:42 Venezuelans select Chavez opponent
20:32 Ireland await new date for match
20:32 Turkmenistan election 'a formality'

Paulson expects more bank failures despite bailout plan

Thursday, 9 October 2008

US Treasury Secretary Henry Paulson has admitted that he expects more American banks to fail despite the Bush administration's $700bn bailout plan.

Mr Paulson is also warning that global financial markets remain severely strained and that the turmoil will not end quickly.

Yesterday, Central Banks around the world cut interest rates by half of one percentage point in a co-ordinated move aimed at boosting the markets.

Most European and Asian shares were up today as a result of the intervention.

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21:32 Stars pay tribute to tragic Houston
21:32 Mariah and Cowell remember Whitney
21:22 Love Parade tragedy: mayor ousted
21:12 Overeating doubles memory risk
20:52 Houston daughter taken to hospital
20:42 Venezuelans select Chavez opponent

20:32 Ireland await new date for match
20:12 Kelly guides Cork to victory
19:12 Tuilagi and Lawes return
18:12 City go back to the top
18:12 Esprit roars to Hennessy victory

21:22 Love Parade tragedy: mayor ousted
20:42 Venezuelans select Chavez opponent
20:32 Turkmenistan election 'a formality'
19:42 Jet diverted after cockpit attack
18:22 Fuel removal operations under way

21:12 Overeating doubles memory risk
19:12 Tom Jones kicks off Baftas bash
19:12 Jagger and Macca grace pop charts
18:42 Printing firm enters receivership
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