Europe's central banks set to cut rates sharply
LONDON -- Europe's two main central banks are under mounting pressure to cut interest rates aggressively Thursday after a run of dismal economic data this week indicated the economic slump will be deeper and more prolonged than previously expected.

Japan's Government Imperils Economy, Banks, Ex-Regulator Says
Dec. 4 (Bloomberg) -- Japan?s government is leading the nation?s banks and economy into a crisis worse than that in the U.S. by softening rules and encouraging lenders to make risky loans, the country?s former top regulator said.

China Stock Index Climbs for a Fourth Day; Banks, ICBC Gain
Dec. 4 (Bloomberg) -- China's benchmark stock index rose for a fourth day, set for the longest winning stretch in two weeks, following a newspaper report that the government may inject more funds into the country's largest banks.

Australia, Korea Money Costs Rise; Freeze Defies Central Banks
Dec. 4 (Bloomberg) -- Australian funding costs rose for a second day and South Korea?s banks paid a record amount to borrow U.S. dollars as concerns about meeting end-of-year cash needs overwhelmed central bank rate cuts and easier access to money.

Central Huijin Spends $175 Million on Three Banks, Paper Says
Dec. 4 (Bloomberg) -- Central Huijin Investment Co. has spent 1.2 billion yuan ($175 million) to raise its holdings in the nation?s three biggest banks over the past two months, the Shanghai Securities News reported , without citing anyone.

Europe's central banks set to cut rates sharply
Europe's two main central banks are under mounting pressure to cut interest rates aggressively Thursday after a run of dismal economic data this week indicated the economic slump will be deeper and more prolonged than previously expected. While many observers...

U.S. Stocks Rise, Led by Banks, Retailers; Amazon.com Jumps
Dec. 3 (Bloomberg) -- U.S. stocks rose for a second day as a jump in online spending and a record increase in mortgage applications lifted retailers and banks, overshadowing concern the worsening recession will reduce demand for commodities.

China reluctant to invest in foreign banks
HONG KONG -- China's sovereign wealth fund, which last year poured $5 billion into Morgan Stanley, is reluctant to plow more money into foreign banks until governments hash out coherent policies to cope with the global economic and financial turmoil, the fund's head said Wednesday.

U.S. Stocks Rise, Led by Banks, Stores; Commodity Shares Slump
Dec. 3 (Bloomberg) -- U.S. stocks gained as a jump in online spending and a record increase in mortgage applications triggered gains in retailers and banks, overshadowing concern the worsening recession will reduce demand for commodities.

Pope: Banks should help society's weakest
Pope Benedict XVI says one of the primary objectives of banks is to support the weakest in society while also spurring productivity.

U.S. Stocks Climb, Erasing Earlier Drop, as Stores, Banks Rise
Dec. 3 (Bloomberg) -- U.S. stocks gained for a second day as retailers rallied on a report showing a jump in online spending, while banks and builders climbed after government cash infusions bolstered the mortgage market.

Seoul to bail out ailing savings banks
he South Korean government will inject a total of 1.3 trillion won (US$890 million) in public funds to buy out bad loans extended by savings banks to finance construction projects, officials said yest .....

European Banks to Announce Rate Cuts
Europe's two leading central banks are expected to cut interest rates Thursday, as nations around the world outline new plans to protect their financial systems from the global economic crisis.

China banks encouraged to make more loans
China's State Council, or the Cabinet, said yesterday it would adopt more favorable policies and update the financial system so as to encourage the country's commercial banks to grant more loans to support economic growth.

Banks face penalties for giving customers second best
Banks that mistreat their customers could be fined and have assets frozen under plans to put the voluntary banking codes on to a statutory footing.

Seoul to bail out ailing savings banks
The South Korean government will inject a total of 1.3 trillion won (US$890 million) in public funds to buy out bad loans extended by savings banks to finance construction projects, officials said yesterday (December 3).

Most banks drop rates
4 December 2008 Banks appear to be heeding the Reserve Bank Governor's call to pass on interest rates cuts. Most have responded to today's 1.5 percent drop in the official cash rate, which puts it at its lowest point since 2003.

Chinese shares surge over 4 pct, led by banks and oils
Chinese equities staged a big rally today, with the key Shanghai index rising over four percent, which was led by gains of heavyweight banks and oils.

Central banks' aid, dollar sales boost rupee
The rupee On Wednesday gained 0.3 per cent against the dollar to close at 50.01 as investors were bullish across Asia following actions by central banks and banks selling the greenback on behalf of exporters.

Japan faces deep recession as central banks slash rates
TOKYO (Reuters) - Japan may be in a deeper recession than first thought as businesses cut spending because of the worsening global recession, which will likely force central banks in Britain and Europe to slash interest rates later on Thursday.