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Asian shares slumped and were headed for their biggest daily fall in four weeks, while US Treasuries gained after an American task force rejected turnaround plans for automakers General Motors and…

United States Treasury Secretary Timothy Geithner has announced plans for a new single regulator to oversee the financial system in a bid to avoid a repeat of the current crisis.

American Samoa's Attorney General, Fepuleai Afa Ripley Jr., has been summoned to appear in the High Court to answer questions as to why his office have yet to provide funding...

The collapse of giant United States insurance company American International Group could have resulted in a 1930s-style global economic meltdown, Federal Reserve chairman Ben Bernanke has told a…

President Barack Obama says his administration is confronting the economic crisis on all fronts and seeing signs of progress as he sought to reassure recession-weary Americans about his recovery…

The United States government has fleshed out a plan it hopes can purge banks of up to $US1 trillion in toxic assets.

The New Zealand sharemarket and the dollar continued to rally on Tuesday following the announcement in the United States of a $US1 trillion plan to bail out American banks.

Asian markets surged on Monday and high-yielding currencies advanced on the yen after details were issued on a United States plan to rid banks of up to $US1 trillion of toxic assets.

Transport minister Steven Joyce says the Government is committed to funding Auckland's rail electrification but will not write blank cheques for related projects such as integrated ticketing and…

Treasury has been advising the government against direct support for struggling major private companies. The Prime Minister says bailing out companies would remain a last resort.

US President Barack Obama said he would not accept Treasury Secretary Timothy Geithner's resignation if it was offered, according to excerpts from a television interview to be broadcast on Sunday.

Advisers representing General Motors Corp bondholders on Friday issued an appeal to the automaker and US officials to break an impasse in a crucial round of debt restructuring talks.

The US government is expected to unveil a plan this week to try to get rid of toxic assets weighing down the country's financial system.

The New Zealand dollar rose by nearly 3 cents in the past 24 hours, to 55.83 US cents as the US dollar falls against all major currencies. Audio

A foreign exchange expert says the New Zealand's Reserve Bank could be helping to strengthen the currency.

Stocks in the United States rose on Wednesday after the Federal Reserve said it will buy long-term Treasury bonds for the first time in four decades. Trading was heavy on the New York Stock Exchange.

The boss of AIG has asked some recipients of executive bonuses at the US insurance group to return at least half of the payments.

New York Attorney General Andrew Cuomo says American International Group created 73 millionaires with bonuses of $US1 million or more last year. AIG has received $US180 billion in federal funding to…

Public sector bosses have been asked to identify potential savings of up to 10%. Prime Minister John Key says there is no target for savings.

President Barack Obama has ordered his treasury secretary to take legal measures to block large bonus payments awarded to top employees of insurer AIG.

Finance ministers from the G20 nations meeting to address the global financial crisis say they will do whatever it takes to revive the world economy.

The White House has assured China about the safety of its vast holdings in US government debt, saying there was no better place in the world to invest than the United States.

The Credit and Collections staff at American Samoa's Treasury have been told to step up their collection of money owed to the government. Treasurer Magalei Logovii wants to see the...

Bank of America says it was profitable in January and February and should be able to ride out the recession without more help from the United States government.