Reuters - Western governments and central banks faced demands for coordinated action on Tuesday after Australia responded to the escalating global financial crisis by cutting its interest rates sharply.

AP - Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan.

AFP - The Federal Reserve and the US Treasury announced measures Monday to confront a rapidly escalating financial crisis under new emergency powers as panicked investors fled stock markets.

Reuters - Richard Fuld, the disgraced head of Lehman Brothers , said he took full responsibility for his actions ahead of the downfall of the 158-year investment bank, but said U.S. regulators knew exactly what the firm's liquidity was and how it was pricing its distressed assets in the months before its collapse.

Reuters - Oil dropped $6 to below $88 a barrel on Monday on expectations the growing financial crisis will further slow already faltering global fuel demand.

Reuters - Governments and central banks around the world grasped at measures to contain the fast-spreading financial crisis on Monday but global stocks still plummeted as investors bet a recession was inevitable.

Reuters - Stocks slid more than 6 percent on Monday, with the Dow diving to its lowest level in almost five years, on fears the global economy was hurtling into recession despite government efforts to contain the fast-spreading financial crisis.

AFP - A brutal week on Wall Street ended with the approval of a massive US government lifeline for the troubled financial sector, but investors are still searching for a reason to cheer.

Reuters - U.S. Treasury Secretary Henry Paulson is expected to name Neel Kashkari to oversee the $700 billion program to buy distressed assets from financial institutions, The Wall Street Journal reported on Sunday.

Reuters - World stocks dived to three-year lows on Monday as investors fled to government bonds and the low-yielding yen, fearing efforts by policymakers to contain the credit crisis might not be enough to prevent a recession.

Reuters - ImClone Systems Inc has agreed to be acquired by Eli Lilly and Co for about $6.1 billion after rebuffing a sweetened takeover offer from Bristol-Myers Squibb, sources familiar with the situation said on Monday.

Reuters - The U.S. Federal Reserve is brokering discussions between Wells Fargo & Co and Citigroup Inc over which of the banks will buy Wachovia Corp's assets, people familiar with the matter said on Sunday.

Reuters - More European governments followed Germany's lead on Monday offering blanket deposit guarantees to savers in a frantic effort to calm fears among investors over the worst financial crisis in 80 years.