Congress started challenging a 700-billion-dollar White House plan to rescue the US financial system Monday as US stocks plunged more than 3 per cent and industrialized countries pledged action to ensure global economic stability.
On Wall Street, the last two remaining major investment banks, Morgan Stanley and Goldman Sachs, left the high-wire world of risk to become bank-holding companies with the approval of the US central bank, the Federal Reserve.
Washington - US stocks plummeted again Monday by more than 3 per cent across major indices, while oil prices soared amidst uncertainty on Wall Street over the US government's proposed mammoth bailout and whether it will rescue the economy.
The drop wiped out most of the gains made on Friday, when US and world markets rebounded on news of the rescue plan.
Washington - US stocks plummeted again Monday by more than 3 per cent across major indices, while oil prices soared amidst uncertainty on Wall Street over the US government's proposed mammoth bailout and whether it will rescue the economy.
The drop wiped out most of the gains made on Friday, when US and world markets rebounded on news of the rescue plan.
Washington - The price of crude oil climbed by 25 dollars per barrel on Monday, the largest jump ever over worries of a weakened dollar prompted by US government plans to buy failing mortgages from the troubled finance industry, Bloomberg news reported.
The Bush administration is proposing a massive 700-billion to 800- billion-dollar plan to bailout the finance industry, which has been at the heart of the flailing US economy. The buyout has increased concerns about the federal government's growing budget deficit.
Public-Sector lender Punjab National Bank (PNB) has inked MoU with Networth Stock Broking Limited (NSBL) for offering Internet trading services to its huge client base.
Under the arrangement, NSBL will provide its online trading platform and expertise for e-broking services in Equities, Derivatives and online IPO services to the customers of PNB.
Washington - US stock markets Monday opened slightly down after a week of turmoil as investors await the outcome of the US government's proposed
700-billion-dollar government bailout of bad mortgage debt that would be an unprecedented intervention in capital markets.
At the opening bell, the Dow Jones index of blue chips was down more than 50 points, or about half a percent, at 11,337. The broad- based S&P 500 was also down more than half a percent, or 5 points, to 1,249.
Congress started challenging a 700-billion-dollar White House plan to rescue the US financial system Monday as US stocks plunged more than 3 per cent and industrialized countries pledged action to ensure global economic stability.
Washington - US stocks plummeted again Monday by more than 3 per cent across major indices, while oil prices soared amidst uncertainty on Wall Street over the US government's proposed mammoth bailout and whether it will rescue the economy.
Washington - US stocks plummeted again Monday by more than 3 per cent across major indices, while oil prices soared amidst uncertainty on Wall Street over the US government's proposed mammoth bailout and whether it will rescue the economy.
Washington - The price of crude oil climbed by 25 dollars per barrel on Monday, the largest jump ever over worries of a weakened dollar prompted by US government plans to buy failing mortgages from the troubled finance industry, Bloomberg news reported.
Public-Sector lender Punjab National Bank (PNB) has inked MoU with Networth Stock Broking Limited (NSBL) for offering Internet trading services to its huge client base. 
Washington - US stock markets Monday opened slightly down after a week of turmoil as investors await the outcome of the US government's proposed 
