Related Articles
Top Stories
Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
Washington - The US government said late on Sunday it will protect banking giant Citigroup against "unusually large losses" and give it $20bn from a financial rescue package approved by congress.
The announcement came after the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation reached an agreement with Citigroup to provide a package of guarantees to the struggling banking giant.
In a joint statement issued after the talks, the three agencies said they will provide Citigroup "protection against the possibility of unusually large losses on an asset pool of approximately $306bn of loans and securities backed by residential and commercial real estate and other such assets, which will remain on Citigroup's balance sheet."
- AFP