Further loss for mortgage giant

US mortgage giant in share issue
US mortgage giant Fannie Mae is to issue $7bn of shares to cover losses linked to the housing market.

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.

US to rescue troubled Citigroup
The US government announces a rescue plan for the Citigroup banking giant after its shares plunge by more than 60%.

Mitsubishi UFJ profit drops 64%
Japanese banking giant, Mitsubishi UFJ Financial has posted a 64% drop in its second-quarter profit but reiterated its lowered full-year forecast.

ING group reports its first loss
Dutch banking giant ING reports its first quarterly loss - 585m euros - for the three months to the end of September.