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April 13, 2008 US banks Citigroup and Merrill Lynch reveal fresh $15bn loss Iain Dey CITIGROUP and Merrill Lynch will heap further pain on Wall Street this week as they reveal additional sub-prime write-downs totalling $15 billion (£7.6 billion) or more. In another sign of the intense pressure on leading banks, Deutsche Bank is attempting to offload some of its €35 billion (£28 billion) of toxic debt to a consortium of private-equity firms. Huge exposure to American mortgages is expected to result in Citi taking a $10 billion hit to its accounts, dragging the bank to a first-quarter loss of...

UN calls for $1.5bn bird flu fund The UN wants everyone to know the dangers of exposure to bird flu The UN has called for $1.5bn to help implement programmes to fight bird flu and prepare for a pandemic in humans. The UN's bird flu co-ordinator said he hoped the funds would be pledged at an international donors summit to be held in Beijing on 17 and 18 January. Vital lessons in fighting the virus are emerging from Turkey's outbreak, which has left at least two people dead from the H5N1 strain and 13 in hospital. The UN says rapid...