Members of a U.S. financial industry group visiting China this week to push for more open capital markets said they found officials here alarmed by the credit crisis, but eager to work together to resolve problems.

George W. Bush makes his last scheduled trip abroad as U.S. president on Friday, heading to an Asia-Pacific summit where he will seek support for global financial reform and hold talks on ending North Korea's nuclear program.

SIMI VALLEY, California (Reuters) - Treasury Secretary Henry Paulson on Thursday defended his handling of the financial crisis but refused to say whether any further help will be offered to struggling bank Citigroup.

Nov. 21 (Bloomberg) -- The bloodletting in the financial- services industry will accelerate in coming months, with job cuts doubling to about 350,000 worldwide by mid-2009, said Brian Sullivan , chief executive officer of search firm CTPartners.

US Treasury Secretary Henry Paulson said on Thursday that reform of financial regulation was crucial but warned against hasty action that could lead to harm.

Tokyo's bid for the 2016 Summer Olympic Games will not be affected by the present global financial crisis their bid chief told AFP here on Thursday.

Mortgage losses have weakened the S & L to the point that there's little hope it can win government bailout funds, observers say. Reeling from mortgage loan losses, Downey Financial Corp. warned last week that its choices were stark: Raise capital or risk a government takeover.

Treasury Secretary Henry Paulson said on Thursday that federal authorities have the right tools and have taken the necessary steps to prevent a financial system collapse.