To see how the federal government has pursued money-laundering cases against big banks over their dealings with Iran and other countries under US trade sanctions, consider what happened when Barclays and the justice department were required to file reports describing the UK bank’s co-operation under a settlement in 2010.

US treasury secretary Timothy Geithner is to face a congressional grilling about suppressed details about deals that funnelled billions to big investment banks while he was president of the Federal Reserve Bank of New York.

UP to €4.7 million is to be invested in a new financial mathematics research centre by Science Foundation Ireland (SFI), the Government body responsible for funding core industrial and other research.

AIG chairman and chief executive Edward Liddy is to step down once the US insurance giant's board of directors finds a replacement, it was announced today.

US president-elect Barack Obama plans to name seasoned advisers and political foes alike as his picks for top administration jobs today, including one-time political nemesis Hillary Clinton as secretary of state.

The US government unveiled a bold plan to rescue troubled Citigroup, including taking a $20bn (€15.7bn) stake in the firm as well as guaranteeing hundreds of billions of dollars in risky assets.

US President George Bush called British Prime Minister Gordon Brown to urge co-ordination on efforts to solve the financial crisis spreading around the world, the White House said today.

American International Group Inc says it has completed the deal under which it is getting an US$85bn (€57.8bn) injection of taxpayer money, while the US government gets an 80% stake in one of the world's largest insurers.

The Federal Reserve and the US Treasury announced steps tonight to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings threatened their financial survival.

Stocks rebounded sharply today as investors, growing more optimistic about chances for an interest rate cut, sought bargains after the previous session’s huge tumble.

CRUDE oil rose above $70 a barrel in New York as robust economic growth in the US and China, the two biggest oil consumers, may bolster fuel demand.

US stocks fell to a three-week low this morning following terrorist attacks at the weekend.

Wall Street shot higher today after a report on New York manufacturing bolstered investors’ expectations of a resurgent economy.

The president of the Federal Reserve Bank of New York used a September 11 commemoration speech to call on corporations to cut the pay of executives.

Lured once more by lower prices, buyers returned to Wall Street late today.

Share prices were higher in early trade after changing direction several times in uncertain price action, as investors reviewed a new set of technology sector research notes and a defense industry takeover offer, dealers said.

Trading opened flat on the Nasdaq composite and slightly lower on the DJIA.