Part of British bank Bradford & Bingley will be sold to Spanish bank Santander; the government will take over the bank's mortgages, British officials announced today. Alistair Darling, Britain's finance minister, told BBC Radio, "What you're seeing is the government taking quick, decisive action, we're standing behind the system to stabilise it because to let Bradford & Bingley go down would have destabilised the entire system," AFP reported.
Officials from the Netherlands, Belgium and Luxembourg are giving the financial and insurance company Fortis $16.4 billion, and take "a 49 percent stake in Fortis units in their respective countries," CNBC reported. The partial government takeover was announced over the weekend.
While Congress takes up the proposed $700 billion bailout, it looks like the financial markets might have a tough day. According to the AP, "Stock futures fell sharply as investors feared the measure won't pass and that credit markets will remain nearly frozen."
A new report says this month's retail sales in Europe fell for the fourth month straight "as higher consumer prices and the worsening credit squeeze sapped confidence, the Bloomberg purchasing managers index showed." The survey is of more than 1,000 executives.
A Democrat has called on Rep. Charles Rangel, D-N.Y., to leave his position as head of the House Ways and Means Committee, UPI reported. Rep. Mark Udall, D-Colo., who is running for senate, made the suggestion on NBC's Meet the Press. Udall "became one of the first to call on Rangel to step down pending the outcome of some ethics investigations."
Nearly 200 people allegedly gathered for an illegal race were arrested in Ontario, Calif., Sunday, according to UPI. The drivers' cars were impounded for 30 days, and another 74 cars, whose owners were arrested, were towed.
An explosion Sunday evening at a factory in Painted Post, N.Y., has left one person in critical condition and another injured, Reuters reports. The explosion was at Dresser-Rand Group Inc., which makes equipment for the petroleum industry.
A crew member of a hijacked Ukrainian freighter has died after being attacked by Somali pirates, the Times of London reports. The pirates are demanding a $20 million ransom for the ship, whose cargo includes 33 Russian tanks. U.S. and European warships were said to be following the freighter.
Egypt's state television reported Monday that 19 hostages who were taken several days ago have been released and are in "good health." The report was confirmed, Reuters said, by the Italian foreign ministry. The hostages were from Egypt, Italy, Germany and Romania.
The Organization for Security and Cooperation in Europe says that the parliamentary election in Belarus this weekend "fell short" of international standards, according to the BBC. No opposition party members won even one of the 110 seats.
A car bomb that went off Monday in Lebanon's capital of Tripoli has killed five soldiers, AFP reported. Another 18 soldiers and 6 civilians were wounded in the second fatal bombing in as many months. Both have targeted Lebanon's army.
A new USA Today/Gallup poll says Barack Obama did better at Friday night's debate than John McCain, ABC News and USA Today reported. When asked "which candidate offered the best proposals to solve the country's problems," 52 percent picked Obama. And 46 percent of people asked said Obama "did better overall in the debate."
On Saturday, the Senate passed a $600 billion spending bill, 78-12. The bill includes money for Gulf Coast residents hit by storms, and federal loans for car makers, according to CNN. The House has passed the bill, and the president is expected to sign it into law.
A U.S. Department of Justice report on former U.S. Attorney General Alberto Gonzales does not recommend referring Gonzales to a grand jury. The report analyzes his role in the firing of nine U.S. attorneys in 2006.
A gene variation that may be linked to narcolepsy has been identified by scientists in Japan. According to Reuters, the condition, "occurs in 1 out of 2,500 individuals in the United States and Europe, but is at least 4 times more frequent in Japanese."
More information is being released about teens and children who have been left at Nebraska hospitals this month under the state's new safe haven law. According to the Chicago Tribune, the Omaha-World Herald reports that many of the kids had mental illness or behavioral problems.
The Milwaukee Brewers are headed to the playoffs for the first time in 26 years, having secured the National League Wild Card by beating the Chicago Cubs Sunday while the New York Mets lost to the Florida Marlins.
Actress Heather Locklear was arrested Sunday night and released after someone called 911 to report an erratic driver. A California Highway Patrol officer found Locklear's car parked on a state road, partially blocking a lane. The officer thought she was "under the influence of something."