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Recent "bailout" Stories, Video and Galleries
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Banks in Cyprus reopened for the first time in nearly two weeks Thursday and prohibited people from withdrawing all their savings and triggering further chaos in the country's financial system.
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The government is selling its stakes in 12 small U.S. banks bailed out during the 2008 financial crisis.
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Greek deputy parliament speaker says a law on the country's debt reduction deal with private creditors has passed.
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After more than 12 hours of talks, the countries that use to euro agreed early Tuesday to hand Greece ¬130 billion ($170 billion) in further bailout loans to save it from a potentially calamitous default, an EU diplomat said.
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Eurozone governments are due to sign off on Monday a long-awaited rescue package for Greece, saving it from a potentially calamitous bankruptcy next month, senior officials said.
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Mounting political tensions and frustration at a lack of resolution over whether Greece will get a vital bailout rekindled fears Thursday that Europe's debt crisis could spread to other countries.
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Greece faces further hurdles and delays before it can receive a second, ¬130 billion ($171 billion) bailout in spite of its lawmakers voting through more austerity measures in the face of violent protests.
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A government watchdog says U.S. taxpayers are still owed $132.9 billion that companies haven't repaid from the financial bailout, and some of that will never be recovered.
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German lawmakers on Thursday overwhelmingly approved expanding the powers of the eurozone bailout fund, a major step toward tackling the sprawling debt crisis, in a vote that also helped strengthen Chancellor Angela Merkel's coalition government.
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Greek lawmakers passed the final austerity bill for the release of crucial bailout funds.
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Chrysler has eliminated most of its bailout IOU by paying off $7.6 billion in loans to the U.S. and Canadian governments.
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Chrysler will take out bank loans and sell bonds to repay $7.5 billion in bailout money from the U.S. and Canadian governments, another sign that the automaker is recovering from its near collapse in 2009.
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European Union nations agreed to give euro67.5 billion ($89.4 billion) in bailout loans to Ireland on Sunday to help it weather the cost of its massive banking crisis, and sketched out new rules for future emergencies in an effort to restore faith in the euro currency.
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The Treasury Department says the $700 billion financial bailout will cost far less than previously thought.
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The euro soared after the EU announced a startling $1 trillion financial rescue package earlier this week. But that respite has evaporated - a sign that worries remain about the heavy debts burdening European governments.
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The European Union put up a staggering $1 trillion Monday to contain its spreading government debt crisis and keep it from tearing the euro currency apart and derailing the global economic recovery.
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The board of the International Monetary Fund has approved its part of a $140 billion bailout package for Greece.
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Chancellor Angela Merkel's Cabinet agreed Monday on a bill to give Greece euro22.4 billion ($29.6 billion) over three years as part of a wider bailout, as the German government realized that letting Greece go bankrupt could send the euro into a tailspin and hurt Germany's own economy.
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Goldman Sachs said Tuesday its first-quarter earnings almost doubled to $3.3 billion as its trading business again surpassed the rest of the financial industry. A top lawyer for the bank, which is facing civil fraud charges, said Goldman would "never intentionally mislead anyone."
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Greece announced painful new austerity measures Wednesday worth euro4.8 billion ($6.5 billion) to deal with a financial crisis that has hammered the euro and unsettled financial markets.
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The EU pressed Greece hard to make more painful budget cuts amid reports that fellow European nations such as France and Germany are preparing a financial rescue to get the country out of its debt crisis.
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Bank of America Corp. says it lost $5.2 billion during the final three months of 2009.
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President Barack Obama told banks Thursday they should pay a new tax to recoup the cost of bailing out foundering firms
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The Obama administration will lose $200 billion less than expected from the federal bailout program and is looking at using part of the savings to fund new job creation efforts.
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