U.S.: Financial crisis spread to emerging markets

Making his international debut at the Group of Seven meetings in Rome, new U.S. Treasury Secretary Timothy Geithner said swift and decisive action is needed on several levels to address the global financial crisis. “Although this crisis began in the major economies, it’s now spread to emerging markets around the world,” Geithner said

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Lloyds shares plunge following HBOS losses

Lloyds Banking Group saw its share price tumbled Friday after reporting worse-than-expected profits for its subsidiary HBOS. Shares for the UK-based banking group tumbled almost 35 per cent by the close of London trading Friday, Reuters.com reported. The Lloyds Banking Group, formed following the merger between HBOS and Lloyds TSB, began trading for the first time last month

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