US bank eyes $7bn cash injection

Merrill warns of further losses
US bank Merrill Lynch says it will write off another $5.7bn and needs to raise another $8.5bn by selling shares

Top Lehman executives step down
Two senior executives at Lehman Brothers are to step down days after the US bank announced huge losses.

Wachovia to cut jobs after losses
US bank Wachovia will trim jobs after posting a quarterly loss and cutting the value of mortgage assets by $2bn.

US shares up on 'Treasury choice'
US shares rise sharply on reports that President-elect Barack Obama has chosen his treasury secretary, reassuring investors.

Citigroup set to cut 75,000 jobs
US bank Citigroup announces plans for up to 75,000 job cuts, up from a previously announced total of 23,000.