Rescue Plan Stalls

Talks in Washington have so far failed to reach agreement on a massive $700bn (£380bn) government proposal to bail out the troubled US finance sector.

After several hours of talks with President George W Bush, Republican members of Congress remained sceptical.

The proposal would see the government buy bad debts from US banks.

A group of House Republicans led by Eric Cantor of Virginia said they wouldn't back a plan based on the approach outlined by Treasury Secretary Henry Paulson and backed by President George W. Bush and Democratic leaders.

Congressional leaders are to meet again on Friday morning to try to hammer out an agreement.