Business

Explained: British banks catch the American bug

Akanksha Banerji, CNN-IBN | Posted on Oct 08, 2008 at 09:39pm IST

Sponsored link: Donate Now. Save Lives

London: Governments across the world are making desperate attempts to rescue their markets. America's $700-billion bailout plan and interest rate cuts haven't helped so far and on Wednesday the British government announced an $87 billion package to rescue its battered banking system.

(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)

Comments (0)

All comments will be published after moderation

Previous story

US Fed Reserve slashes interest by half pc

Next story

Your money safe: FM tells India | Investment advice