U.S. Top News Late Edition: U.S. to buy bank stakes; markets soar

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Good evening Srini, MON 13 Oct 2008 

today's headlines

U.S. to buy bank stakes; markets soar
Asia stocks soar on broad steps to ease crisis
McCain tries fresh comeback bid
Morgan Stanley shares soar as MUFG deal closes
Wildfires threaten L.A. homes; two people dead
N.Korea to resume atom closure Tuesday
Obama lays out modest steps on economy
Treasury to unveil $250 billion equity plan
Long-term study confirms Vioxx heart risks
Luxury mall showcases wealth gap in India
 

today's videos

more details

U.S. to buy bank stakes; markets soar
October 13, 2008 10:19 PM ET
NEW YORK (Reuters) - The U.S. government agreed on Monday to take $25 billion stakes in several big banks in a bid to shore up the banking system and arrest the financial crisis, sources familiar with the situation said.

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Asia stocks soar on broad steps to ease crisis
October 13, 2008 09:29 PM ET
HONG KONG (Reuters) - Asian stocks surged on Tuesday, with Japan's Nikkei up more than 12 percent, after world policymakers led by Europe readied plans to inject cash into banks in the biggest effort yet to ease the global financial crisis.

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McCain tries fresh comeback bid
October 13, 2008 10:20 PM ET
WILMINGTON, North Carolina (Reuters) - Republican presidential nominee John McCain on Monday sought to assure supporters he can come from behind to defeat Democrat Barack Obama, who proposed new ways to address the economic turmoil.

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Morgan Stanley shares soar as MUFG deal closes
October 13, 2008 10:20 PM ET
NEW YORK (Reuters) - Morgan Stanley stock nearly doubled after Japan's Mitsubishi UFJ Financial Group Inc (MUFG) completed its $9 billion investment in the bank on Monday.

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Wildfires threaten L.A. homes; two people dead
October 13, 2008 10:19 PM ET
LOS ANGELES (Reuters) - Deadly wind-driven brush fires roared out of the foothills and canyons on the northern fringe of Los Angeles on Monday, destroying dozens of homes and threatening hundreds more dwellings.

Full Article
N.Korea to resume atom closure Tuesday
October 13, 2008 02:51 PM ET
VIENNA (Reuters) - North Korea on Monday restored U.N. monitors' access to its atom bomb complex and will resume disabling its nuclear reactor on Tuesday, the U.N. nuclear watchdog said, after a deal with Washington to save the process.

Full Article
Obama lays out modest steps on economy
October 13, 2008 10:13 PM ET
TOLEDO, Ohio (Reuters) - Democratic presidential nominee Barack Obama on Monday proposed tax credits and other steps to create jobs and to cushion Americans against the economic downturn but analysts described his ideas as modest.

Full Article
Treasury to unveil $250 billion equity plan
October 13, 2008 07:14 PM ET
WASHINGTON (Reuters) - The Treasury Department intends to unveil on Tuesday a $250 billion plan to purchase equity stakes in financial institutions along with a three-year guarantee of bank-to-bank lending, according to a financial policy source familiar with the plan.

Full Article
Long-term study confirms Vioxx heart risks
October 13, 2008 06:38 PM ET
CHICAGO (Reuters) - A long-term analysis of people who took the arthritis drug Vioxx confirms it doubles the risk of strokes and heart attacks, researchers said on Monday, but this risk goes away a year after people stop taking it.

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Luxury mall showcases wealth gap in India
October 13, 2008 08:53 PM ET
By Krittivas Mukherjee NEW DELHI (Reuters) - With gold-plated ceilings, exotic fountains and the clink of champagne glasses, the Emporio Mall in New Delhi is the perfect place to wile away a hot afternoon browsing through designer boutiques.

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