Financial Crisis, Global Financial Crisis | featured news

Stock prices around the world rose on Monday after European leaders signaled a willingness to tackle the financial crisis brewing there.

Russian tycoon Alexander Lebedev has punched a fellow billionaire on a television panel show after a discussion on the financial crisis degenerated into petty name-calling.

The Federal Reserve, facing rising global financial strains and recession fears, is poised to increase downward pressure on longer-term interest rates next week in a bid to accelerate a sputtering U.S. recovery.

Prime Minister Silvio Berlusconi tried on Tuesday to calm fears that Italy could be swept into a full-scale financial crisis and the opposition pledged to smooth the passage through parliament of tough debt-cutting measures.

Global regulators said that banks deemed too-big-to-fail would have to set aside an additional cushion of capital reserves in an effort to avoid a repeat of the 2008 financial crisis.

Despite $18.8 billion spent by the U.S. to help stabilize and build up Afghanistan, that nation is at risk of falling into financial crisis when foreign troops leave in 2014, a new report from Senate Democrats says.

Goldman Sachs Group received a subpoena from New York prosecutors seeking information on the investment bank's role leading into the global financial crisis, a person familiar with the matter said.

The government panel, the Financial Crisis Inquiry Commission blames: Banks that made reckless bets, credit rating agencies that endorse risky mortgage-backed securities and government regulators who overlooked warning signs until they threatened the global financial system.

The ultimate size will depend on whether Dublin merely tries to shore up and restructure its crippled banks, or whether a larger package is offered to give it more breathing room.

Global financial regulators on Sunday agreed on new banking rules designed to strengthen bank finances and rein in excessive risk-taking to help prevent another crisis.