Bonds plan to save embattled British bank: report
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The British government is to support a plan to turn the Bank of England's loans to troubled bank Northern Rock into bonds for sale, the BBC reported Saturday.
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The Bank of England is expected to hold rates at 5.5% after its latest meeting, but a rise remains a possibility.
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The British Treasury said it would facilitate a sale of the troubled mortgage lender while trying to ensure that taxpayers will not have to pay for the bankâs rescue.
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The Bank of England is expected to keep interest rates at 5.25%, but another rise remains a possibility.
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Barclays  and Royal Bank of Scotland  have lined up emergency funds of up to $30 billion from the U.S. Federal Reserve to bail out American clients caught up in the global credit crunch, a paper said.
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Japan's central bank plans to end its unprecedented policy of buying stocks from the nation's banks this month, a sign that its purchases over the past two years have helped restore stability to the financial system, Britain's Financial Times newspaper reported Wednesday.
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Britain has received a report from  U.S. investment bank Goldman Sachs on options for the troubled  Northern Rock bank and is talking to potential buyers about  them, Prime Minister Gordon Brown said on Saturday.
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The proposal to break-up the businesses of bond insurers into two separate segments, with one covering "good" municipal debt and the other covering "bad" structured finance debt, may lead to years of litigation, said Bank of America analysts, in a note to clients, late last week.
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Investors in Bear Stearns Cos.  hedge funds that were virtually wiped out from large bets on risky mortgages are planning to sue the company as early as Monday, television channel CNBC reported on Friday.
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Britain set a two-week deadline for a private-sector rescue of Northern Rock  on Monday as it confirmed plans to convert its billions of pounds of loans to the stricken bank into bonds in a bid to smooth a deal.
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Banks may need $143bn to weather the credit crisis if bond insurers lose their top credit ratings, new research shows.
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Spanish infrastructure group Ferrovial  is in no rush to refinance the 10 billion pounds ($20.05 billion) of debt taken on to buy British airports operator BAA, the Financial Times reported on Wednesday.
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Troubled bank Northern Rock could be sold off following its emergency bail-out by the Bank of England, the Sunday Telegraph reported.
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Bonds of U.S. banks and brokers, among  the worst performers last year, should turn around in 2008,  helped by interest rate cuts and capital infusions, Bank of  America strategists said on Thursday.
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Bank of England expected to push rates up to 5.75%.
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Investors in Bear Stearns Cos.   hedge funds that were virtually wiped out from large bets on  risky mortgages are planning to sue the company as early as  Monday, television channel CNBC reported on Friday.
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Three leading hedge funds are planning a  break-up of beleaguered British bank Northern Rock ,  according to a newspaper report on Sunday.