Struggling US lender CIT Group filed for bankruptcy protection in an attempt to restructure its debt while trying to keep badly-needed loans flowing to thousands of mid-sized and small businesses.

US banking giant JP Morgan Chase today posted first-quarter profits of $2.1bn (€1.6bn), adding to hopes that the sector’s worst storms are behind it.

Caution returned to Wall Street today as investors gave back some gains from last week’s rally even as they found encouragement from President-elect Barack Obama’s calls for an economic stimulus package

The Bank of America expects to shed 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch.

The leading shares on the London Stock Exchange sank into the red today as investors took scant comfort from President Bush’s pledge to “rise to the occasion” with a banking rescue.

JPMorgan Chase and Co. Inc has acquired the assets of Washington Mutual Inc’s banking operations after US federal regulators seized the ailing credit union.

Santander is reportedly considering a take-over of Bank of Ireland.

The US stock market took another nosedive as the American banking system appeared even shakier and investors worried that the financial crisis is spinning so far out of control that even government rescues cannot stop it.

The FTSE 100 Index slipped into the red today after a raft of insurance firms endured a difficult session.

Wall Street closed out an impressive week with a mixed performance today after disappointing high-tech earnings punctured some of investors’ enthusiasm over better-than-expected bank earnings reports.

Wall Street ended a whipsaw day mostly lower today, as fears of escalating instability in the financial sector kept investors on edge despite a steep retreat in oil.

US stocks have ended a quiet session with a loss after corporate news disappointed investors and the Federal Reserve voiced concerns about the slumping economy.

Wall Street started the week with a mixed performance today, with many investors moving to the sidelines as they wait for quarterly profit reports.

Wall Street ended a painful week with another decline today as skittish investors unable to hold on to much optimism about the economy drew little comfort from President George Bush’s stimulus plan.

Wall Street pared its losses to finish flat today but remained uneasy after disappointing results from Bank of America Corp provided further evidence that the credit crisis is hurting the economy.

Banking giant Barclays is set to increase its number of high street branches in prime locations in the UK, a report said today.

Wall Street eked out a modest gain today despite a dearth of economic news and a general lack of interest among stock traders.

Office provider Regus is to buy US rival HQ Global for £163.5m (€244.8m), it announced today.

Wall Street posted a healthy advance today as consumer confidence surged to a 22-month high and quelled investor concerns about the economy a day before the Federal Reserve’s decision on interest rates.

Wall Street today had a muted reaction to upbeat reports on US consumer confidence and the gross domestic product, closing narrowly mixed as investors stayed cautious after Monday’s big rally.

Blue chip stocks fell sharply today as investors' increasing caution prevailed over optimism about a likely interest rate cut this week.