MPH 2008

London and Asia continue world-wide share rally

FTSE up 4% in early trading as Japan posts biggest one-day gain with America the latest to announce bank bailout

Markets soar as world acts to rescue banks

World stock markets rejoiced after trillions of dollars were committed to guarantee deposits and bail out besieged banks

Following Brown out of recession

Where once he was reviled, Britain's Prime Minister is now seen as the world's saviour. But more difficult times lie ahead

Mitsubishi agrees £5bn rescue terms

Shares in Morgan Stanley have surged in New York after the US bank hammered out a deal with Japan's biggest bank

Merger talk bolsters shares in GM and Ford

Investors were buoyed by the prospect of a giant American carmaker that could withstand the pressures of a weak global market

Bush plans $250bn seizure of banks

As part of a rescue deal, the US President plans to use taxpayer funds to seize stakes in nine of America’s biggest banks

Irony not lost on the Dean of Harvard Business School

Jay Light, the Dean of Harvard Business School, believes that we are only midway through the current market disorder

Mitsubishi UFJ reviews Morgan Stanley deal

Japanese giant that had planned to sink $9 billion into the US bank may seek to renegotiate some of the terms

Morgan Stanley and Goldman Sachs tumble

Moody's gloomy announcement on banks' prospects for revenue and profit precipitates further sell-offs in New York

GM plans auction of key assets

With its shares trading at a 58-year low, the carmaker is understood to be considering a sale of subsidiary operations

Lehman's demise triggers huge default

Auction of Lehman Brothers bonds yields less than 10 per cent, leaving insurers with a bill they may be unable to meet

Crisis meeting as Dow plummets

Finance ministers and central bank governors head to Washington as Dow Jones drops 7.3 per cent down to 8,579 points

Paulson warns that more banks could collapse

The US Treasury Secretary says that even with the $700 billion US bailout, some financial institutions will still fail

AIG thrown a further $38bn lifeline

Federal Reserve uses emergency powers to authorise a further loan to ailing insurance giant to prevent bankruptcy

Federal Reserve moves to buy company debt

America’s central bank unveiled plans to rescue the $700bn market by offering to acquire so-called commercial paper

Wells Fargo and Citigroup to share Wachovia

The sale process was accelerated after Washington Mutual warned that it would have to write off parts of lender's assets

Doctors must stop their squabbling

The world's financial system needs emergency action to restore confidence. The longer that takes, the weaker it gets

Lehman staff will make millions to unwind trades

PricewaterhouseCoopers has arranged for key workers to work with it in the administration process, paid for by Nomura

Business big shot: Neel Kashkari

From Ohio to Illinois, from Nasa to the Treasury, this 35-year-old engineering MA has carved out a remarkable career

Fuld denies responsibility for Lehman collapse

Former chairman and chief executive of Lehman Brothers is unrepentant and says rumours and speculation destroyed bank