Citigroup to shed $400bn assets

Stocks tumble on bank downgrade
Global shares tumble after a downgrade of leading US bank Citigroup renews fears about the impact of the sub-prime crisis.

Credit Suisse cuts 650 jobs in UK
Troubled Swiss banking giant Credit Suisse has confirmed that it will cut 650 jobs from its UK workforce.

BHP Billiton abandons Rio offer
Mining giant BHP Billiton calls off its bid for Rio Tinto, blaming falling commodity prices and demands that it sell assets.

Citigroup deal helps Asian shares
Stock markets in Asia see strong gains following the Citigroup bail-out and big rises in US and European shares.

Shares up 10% on crisis measures
Shares rally worldwide after the US bail-out of Citigroup and an economic stimulus package in Britain.