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  • Scramble to save banks as IMF warns of meltdown (Reuters)

    Egypt's Finance Minister and International Monetary and Financial Committee (IMFC) Chairman Youssef Bourtos-Ghali (2nd R), International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn (C), IMF's First Deputy Managing Director John Lipsky (2nd L) and IMF Secretary Shailendra Anjaria (R) attend the meeting of the IMFC at IMF Headquarters in Washington October 11, 2008. (Stephen Jaffe/IMF/Handout/Reuters)Reuters - Rich nations rushed to shore up the global financial system after the International Monetary Fund warned of meltdown, with Australia and New Zealand guaranteeing bank deposits and newspapers reporting plans for Britain's biggest retail bank rescue.



  • Australia to guarantee bank deposits
    Australian Prime Minister Kevin Rudd said Sunday that his government will guarantee all deposits in the country's banks and financial institutions for the next three years.


  • Afghan battles kill more than 100 militants
    Two separate battles that militants fought with Afghan and NATO troops in southern Afghanistan over the weekend left at least 100 insurgents dead, authorities said Sunday.


  • UPDATE 2-UK to launch 35 bln pound banking rescue - paper
    (Adds banks declining comment, stock exchange spokesman quote) LONDON, Oct 12 (Reuters) - Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a combined 35
  • European leaders to meet in Paris
    The Taoiseach will travel to Paris later today for an emergency meeting of leaders from the 15 countries that use the euro. The meeting is being held at the request of Spain. According to French reports, the leaders may be asked to back a plan to invest
  • Leaders meet for Paris crisis talks
    European leaders are meeting in Paris to discuss measures to prevent market panic from triggering the most severe global downturn in decades. The Group of Seven industrialised nations launched a plan to try to stabilise markets on Saturday but the group
  • Brown urging Europe to follow lead
    Gordon Brown is to today urge EU leaders to copy Britain's blueprint for tackling global financial turmoil. At a crunch summit in Paris, the Prime Minister will insist that co-ordinated international action along the lines of his £500bn bank bail-out is
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