ALTAMONTE SPRINGS, Fla. - Community banks will play the most important role in America's economic recovery over the next five years, helping to restore public trust in American financial institutions and the flow of capital in public commerce.

The Department of Justice and the Securities and Exchange Commission are investigating the mortgage lending practices of Wachovia Corp., according to media reports Thursday.

The Swiss National Bank has cut its key interest rate in half to 1 percent, its second reduction this month.

The central bank's decision Thursday comes amid expectations other central banks, including the U.S. Federal Reserve will also cut rates further to support growth.

Before this month, the Swiss bank had reduced its rates only once in the last 5 1/2 years.

Falling prices give central banks room to lower interest rates. The cuts can spark economic activity, but currencies often suffer as investors move their money in search of better returns.

Stock markets continued to weaken Wednesday afternoon as the diversified metals and financial sectors moved lower.

Citigroup Inc faced a crisis of confidence on Wednesday as investors questioned the survival prospects of the U.S. banking giant, and its shares tumbled 23 percent to a 13-year low.

Stocks plunged to their lowest in five-and-a-half years on Wednesday as investors girded for a lengthy economic downturn and automotive executives predicted a far-reaching calamity without a government ...

Citigroup Inc. said Wednesday it is acquiring the remaining US$17.4 billion in assets held by structured investment vehicles it already supports, as the bank moves to unwind the troubled funds.

China has told police to ensure stability as its economy slows, Japan's No.3 bank sought to beef up its depleted capital on Wednesday and markets fretted about the stricken U.S. car industry.