Oct. 1 (Bloomberg) -- The Bombay Stock Exchange Ltd., Asia's oldest bourse, may cancel plans to develop a new trading platform with Nasdaq OMX Group Inc., hampering efforts to narrow the gap with larger rival National Stock Exchange Ltd.

Libor Surges to Nearly 7% But US Stock Futures Rise on Bailout Bill Revival Hopes Delicious Digg Facebook reddit Technorati Yves Smith | Sep 30, 2008 Markets continue to be roiled by the upset of the effort to pass the touted Paulson bailout bill. As of this writing, the FTSE and Dj Stoxx 50 are up slightly, but money markets took a beating, the reaction worsened by end-of-quarter factors. From Bloomberg: The cost of borrowing in dollars overnight surged the most on record after the U.

Sept. 30 (Bloomberg) -- Gold futures traded near the highest in two months after the U.S. House of Representatives rejected a $700 billion bailout bill for the U.S. banking system, stoking concern of a worsening credit crisis.

In yet another fallout of the ongoing financial crisis, US banking giant Citigroup is buying the banking operations of Wachovia Corp. in a deal facilitated by the US government, the Federal Deposit Insurance Corp. (FDIC) has said. Citigroup, headed by India-born Vikram Pandit, Monday agreed to acquire Wachovia's banking operations for $2.1 billion in stock and will assume another $53 billion in Wachovia's debt. Wachovia was also in takeover talks with Wells Fargo, a diversified financial

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