Dec. 22, 2008 - China's central bank cut loan and deposit rates by 0.27 percentage points in the government's latest move to stimulate the economy. >>>

Dec. 19, 2008 - The White House announced a rescue plan of multi-billion dollars in emergency loans to bail out the country's crippled auto industry from bankruptcy. >>>

Dec. 16, 2008 -  The U.S. Federal Reserve decided to cut a key interest rate to the lowest level to the range of zero to 0.25 percent on record to prevent the country's ailing economy from slipping further into deep recession. >>>

Dec. 4, 2008 - The fifth China-U.S. Strategic Economic Dialogue kicked off in Beijing. The two-day SED covered macro-economic risks, trade challenges and the investment environment. >>>

Nov. 26, 2008 - China's central bank has decided to slash the lending and deposit rates by a bigger-than-expected 1.08 percentage points as of Thursday in the latest strong effort to stimulate the economy. >>>

Nov. 26, 2008- The European Commission unveiled on Wednesday a significant economic stimulus package worth 200 billion euros (260 billion U.S. dollars) in a bid to steer the European Union (EU) economy from a deep recession.

Nov. 25, 2008 - The U.S. government Tuesday unveiled a pair of new programs that will provide 800 billion dollars to help unfreeze the credit markets. >>>

Nov. 24, 2008 -  France and Germany reached an agreement to bolster their auto industry which was hard hit by the global economic crisis, French President Nicolas Sarkozy said here Monday following his meeting with Germany Chancellor Angela Merkel. >>>

Nov. 24, 2008 - The U.S. government agreed Sunday to rescue Citigroup providing a package of guarantees, liquidity access and capital. >>>

Nov. 24, 2008 - The Confederation of British Industry (CBI) unveiled its 10-point plan on Monday to keep business working, safeguard jobs and position the economy for recovery. >>>

Nov. 20, 2008 - Four fellow-Nordic countries will loan Iceland 2.5 billion U.S. dollars to help it cope with an acute financial crisis. >>>

Nov. 20, 2008 - The U.S. Treasury Department announced Thursday that it agreed to assist with the liquidation of The Reserve Fund's U.S. Government Fund, due to unique and extraordinary circumstances. >>>

Nov. 19, 2008 - The U.S. Federal Reserve on Wednesday lowered its forecasts for economic growth this year and next, acknowledging the possibility of a recession into 2009. >>>

Nov. 18, 2008 -- U.S. Treasury Secretary Henry Paulson expressed his reservations Tuesday to use the 700 billion dollar rescue package to help struggling auto makers.>>>

Nov. 17, 2008 - The Bush Administration said on Monday that it has provided 33.56 billion dollars to 21 U.S. banks under its 250 billion dollar purchase plan. >>>

Nov. 15, 2008 - Leaders from the world's major developed and emerging economies agreed in Washington on Saturday to undertake a coordinated action to tackle the ongoing global financial crisis and explore measures to prevent similar crisis in the future. >>>

Nov. 14, 2008 - A senior Chinese planning official told reporters that the new 4 trillion yuan (586 billion U.S. dollars) economic stimulus package includes 1.18 trillion yuan from the central government through 2010. >>>

Nov. 9, 2008 - China said on Sunday it will loosen credit conditions, cut taxes and embark on a massive infrastructure spending program in a wide-ranging effort to offset adverse global economic conditions by boosting domestic demand. >>>

Nov. 9, 2008 - China will take 10 major steps to stimulate domestic consumption and growth as it turns to an "active" fiscal policy and "moderately easy" monetary policy, an executive meeting of the State Council said on Sunday. >>>

Oct. 14, 2008 - U.S. President George W. Bush announced measures to implement a plan of action agreed by the Group of Seven (G7) major advanced countries and to strengthen the banking industry. >>>

Oct. 14, 2008  - The European Union (EU) gave green light to British package to bail out its struggling banks and stabilize the financial markets. >>>

Oct. 13, 2008 - German Chancellor Angela Merkel announced in Berlin a huge financial rescue plan worth close to 500 billion euros (about 685 billion U.S. dollars). >>>

Oct 13, 2008 - The French government is to set aside up to 360 billion euros (490 billion U.S. dollars) to prevent its banks from falling prey to the current credit crisis. >>>

Oct. 13, 2008 - The UK government announced that it would inject up to 37 billion pounds of taxpayers' cash into major banks -- Royal Bank of Scotland (RBS), Lloyds TSB and Halifax Bank of Scotland (HBOS). >>>

Oct. 12, 2008 - Leaders from the eurozone countries hammered out an action plan in a joint response to the unfolding financial crisis at their first ever summit in Paris. >>>

Oct. 8, 2008 - The British government announced a massive plan which would inject 50 billion pounds (87 billion U.S. dollars) into its banks through the purchase of preferred shares. >>>

Oct. 3, 2008 - The U.S. House of Representatives approved a revised 700 billion dollars bailout plan, authorizing the government the largest financial intervention since the Great Depression.  >>>

Sept. 25, 2008 - JPMorgan Chase on Thursday night acquired the banking operations of Washington Mutual Bank. >>>

Sept. 17, 2008 - The U.S. Federal Reserve Bank will lend an 85 billion-U.S. dollar-bridge-loan to American International Group Inc. (AIG) to save the country's biggest insurer from bankruptcy. >>>

Sept. 15, 2008 - Lehman Brothers files for bankruptcy court protection. >>>

Sept. 15, 2008 - Bank of America agrees to acquire Merrill Lynch for up to $50 billion. >>>

Sept. 6, 2008 - U.S. Treasury Secretary Henry Paulson announces a takeover of Fannie Mae and Freddie Mac, putting the government in charge of the two mortgage giants. >>>

March 16, 2008 - JPMorgan Chase & Co. acquires troubled Bear Stearns.

June 2007 - Two hedge funds run by Bear Stearns run into large losses and are forced to dump assets.

April 2, 2007 - New Century Financial, one of American largest subprime mortgage lenders, files for bankruptcy court protections.

Feb. 7, 2007 - HSBC announces it will see larger than anticipated losses from rising defaults of subprime mortgages in the United States, the first major bank to make an announcement about rising losses in the sector.