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Treasury Department to name bailout manager Tuesday - Bizjournals.com
13 Oct 2008 at 1:46pm
The Associated PressTreasury Department to name bailout manager TuesdayBizjournals.com - 1 hour agoThe Treasury Department plans to name its prime contractor for the federal bailout job Tuesday, officials said Monday. “Congress passed the new law just 10 days ago, but in that time, we have accomplished a great deal on many fronts,” said Neel ...Federal Stakes in US Banks: Details, Please BusinessWeekWhat Treasury is planning CNNMoney.comBloomberg - Forbes - guardian.co.uk - The Associated Pressall 1,208 news articles


Austin stocks rally with rest of Wall St. - Bizjournals.com
13 Oct 2008 at 12:20pm
BBC NewsAustin stocks rally with rest of Wall St.Bizjournals.com - 2 hours agoAustin stocks were posting mostly positive results on Monday as the Dow Jones industrial index climbed more than 500 points. By midday nearly all Austin area public companies’ stocks were in positive territory aided by a general market rally as the US ...AP Top News at 3:19 pm EDT The Associated PressLessons from the 1929 stock market crash BBC NewsKXMC - Financial Times - Channel News Asia - CNBCall 2,938 news articles


US Stocks Rally on Bank Plan; Morgan Stanley, Ford Surge - Bloomberg
13 Oct 2008 at 2:23pm
Wall Street Journal BlogsUS Stocks Rally on Bank Plan; Morgan Stanley, Ford SurgeBloomberg - 31 minutes agoBy Elizabeth Stanton Oct. 13 (Bloomberg) -- US stocks rallied after the market's worst week in 75 years, boosted by the government's plan to buy stakes in banks and a Federal Reserve-led push to flood the global financial system with dollars.Sweet Deal For Morgan And Mitsubishi ForbesMorgan Stanley gets a discount MarketWatchguardian.co.uk - International Herald Tribune - BusinessWeek - Reutersall 1,516 news articles


Liberal media rejoice! Krugman wins a Nobel - MarketWatch
13 Oct 2008 at 1:57pm
Calgary HeraldLiberal media rejoice! Krugman wins a NobelMarketWatch - 56 minutes agoBy MarketWatch Editor's note: The following First Take is real-time analysis and opinion by the MarketWatch commentary team. NEW YORK (MarketWatch) -- Paul Krugman, poster child for the so-called liberal media, is getting the last laugh.Krugman Wins Economics Nobel New York TimesPaul Krugman, Nobel ForbesReuters - Financial Times - Bloomberg - TIMEall 1,119 news articles


Waste Management drops bid for Republic - Bizjournals.com
13 Oct 2008 at 2:18pm
Dividend.comWaste Management drops bid for RepublicBizjournals.com - 35 minutes agoHouston-based Waste Management -- a national rival to Folsom's Waste Connections Inc. -- on Monday withdrew its $6.7 billion bid to take over trash hauler Republic Services, according to news agency reports, pointing to the current state of the ...Waste Management drops bid for Republic The Associated PressWaste Management Trashes Republic Bid ForbesBloomberg - New York Times - MarketWatchall 205 news articles


Bush and Berlusconi Praise Global Economic Efforts - Washington Post
13 Oct 2008 at 11:13am
XinhuaBush and Berlusconi Praise Global Economic EffortsWashington Post - 3 hours agoBy Dan Eggen President Bush and Italian Prime Minister Silvio Berlusconi expressed confidence today that aggressive moves by Europe and the United States will restore confidence in international financial markets.Bush Welcomes Europe's Actions to Unfreeze Credit Markets BloombergBush, Italy's Berlusconi Discuss Global Financial Crisis Wall Street JournalReuters - guardian.co.uk - The Associated Press - The Swamp - Tribune's Washington Bureauall 396 news articles


Dollar slips vs. euro, pound - CNNMoney.com
13 Oct 2008 at 2:20pm
SifyDollar slips vs. euro, poundCNNMoney.com - 34 minutes agoBy Ben Rooney, CNNMoney.com staff writer NEW YORK (CNNMoney.com) -- The US dollar fell against the euro and the pound Monday after government officials worldwide announced coordinated efforts to stabilize financial markets.TOPWRAP 12-Global bank rescue aims to halt crisis; markets up guardian.co.ukEuropean Companies Batten Down Hatches Amid Crisis (Update2) BloombergMarketWatch - YaleGlobal Online - International Herald Tribune - New York Timesall 321 news articles


Santander in Talks to Buy Rest of Sovereign Bancorp (Update4) - Bloomberg
13 Oct 2008 at 12:53pm
AFPSantander in Talks to Buy Rest of Sovereign Bancorp (Update4)Bloomberg - 2 hours agoBy Charles Penty Oct. 13 (Bloomberg) -- Banco Santander SA is in talks to buy Sovereign Bancorp Inc., the largest remaining US savings and loan, in what would be the third acquisition of a troubled lender in three months by Spain's biggest bank.Santander eyes Sovereign in hunt for bargains guardian.co.ukSovereign confirms deal talks with Banco Santander The Associated PressCNNMoney.com - BusinessWeek - Forbes - MarketWatchall 375 news articles


MARKET SNAPSHOT: US Stocks Rally Sharply In Cheering Global Rescue ... - CNNM...
13 Oct 2008 at 12:52pm
BBC NewsMARKET SNAPSHOT: US Stocks Rally Sharply In Cheering Global Rescue ...CNNMoney.com - 2 hours agoUS stocks sprang higher on Monday as widespread buying fueled the Dow Jones Industrial Average's greatest intraday point gain on record after a frantic weekend of international government actions bolstered confidence in the banking sector and credit ...Stock markets rally on international push Bizjournals.comStock Rally Persists As Bailout Plan Intro Nears Barron's BlogsNick.com - Wall Street Journal - CNBC - Reutersall 318 news articles


EU Nations Commit 1.3 Trillion Euros to Bank Bailouts (Update3) - Bloomberg
13 Oct 2008 at 11:51am
Times OnlineEU Nations Commit 1.3 Trillion Euros to Bank Bailouts (Update3)Bloomberg - 3 hours agoBy Gregory Viscusi Oct. 13 (Bloomberg) -- France, Germany, Spain, the Netherlands and Austria committed 1.3 trillion euros ($1.8 trillion) to guarantee bank loans and take stakes in lenders, racing to prevent the collapse of the financial system.European Stocks Soar on Bailout Plans BusinessWeekEuropean nations unveil crucial bank rescues Washington Postguardian.co.uk - The Associated Press - Forbes - Times Onlineall 1,296 news articles


Honda Boosts Car Output, Pares Trucks Again as SUV Demand Falls - Bloomberg
13 Oct 2008 at 1:53pm
WKRG-TVHonda Boosts Car Output, Pares Trucks Again as SUV Demand FallsBloomberg - 1 hour agoBy Alan Ohnsman and Jeff Green Oct. 13 (Bloomberg) -- Honda Motor Co., shuffling US production to keep factories busy, will boost car output and build fewer minivans and sport-utility vehicles as light-truck sales fall.UPDATE 1-Honda to reduce US production of Odyssey, Pilot ReutersHonda shifting some US manufacturing operations Bizjournals.comBusinessWeek - The Birmingham News - al.com - MyFox Birmingham - Earthtimes (press release)all 84 news articles


United Technologies Withdraws Unsolicited Bid for Diebold - MarketWatch
13 Oct 2008 at 1:13pm
RTT NewsUnited Technologies Withdraws Unsolicited Bid for DieboldMarketWatch - 1 hour agoNORTH CANTON, Ohio, Oct 13, 2008 /PRNewswire-FirstCall via COMTEX/ -- In a letter dated today, Diebold, Incorporated (NYSE: DBD) has learned that United Technologies Corporation (UTC) has withdrawn its unsolicited bid for the company of February 29, ...Diebold Declines After United Technologies Withdraws Offer BloombergUnited Tech withdraws $2.64 bln bid for Diebold guardian.co.ukInternational Herald Tribune - Wall Street Journal - RTT News - Hartford Courantall 100 news articles


GM, Ford rally on reports of industry merger talks - MarketWatch
13 Oct 2008 at 9:50am
GM, Ford rally on reports of industry merger talksMarketWatch - 5 hours agoBy Shawn Langlois, MarketWatch SAN FRANCISCO (MarketWatch) -- Skeptics may question the upside of a merger between two of America's struggling car giants, but Wall Street clearly backed the concept Monday as shares of General Motors Corp.GM shares rebound after Detroit merger reports ReutersGM-Chrysler Merger Talks Exaggerated by Media TheStreet.comForbes - BusinessWeek - New York Times - Detroit Free Pressall 1,989 news articles


Vishay Leaves Rectifier Alone - Forbes
13 Oct 2008 at 1:37pm
RTT NewsVishay Leaves Rectifier AloneForbes - 1 hour agoVishay Intertechnology is done chasing International Rectifier. The electronic parts supplier said Monday that it was withdrawing its offer to acquire International Rectifier.UPDATE 2-Vishay terminates offer to buy IRF; shares surge ReutersVishay ends International Rectifier bid MarketWatchNew York Times Blogs - EDN.com - BusinessWeek - RTT Newsall 95 news articles


MySpace — better with Bacon Salt? - Reuters
13 Oct 2008 at 12:47pm
KEPR 19MySpace — better with Bacon Salt?Reuters - 2 hours agoMySpace rolled out the public test of its MyAds system, a service created for small businesses that want to run banner advertising on the online social network.MySpace Launches MyAds - Looking for Its Google Moment Seeking AlphaMySpace Launches MyAds: 'HyperTargeting' for Small Biz ClickZ NewsThe Associated Press - eWeek - PC Magazine - BusinessWeekall 142 news articles


Wall Street soars on bank rescue and Morgan deal (Reuters)
13 Oct 2008 at 2:17pm
Traders in the S and P 500 pit of the Chicago Board of Trade signal orders shortly after the opening bell in Chicago, Illinois October 13, 2008. (Frank Polich/Reuters)Reuters - Stocks extended sharp advances on Monday afternoon, following their worst week ever, as global efforts to recapitalize banks sparked a rally in financial shares, while credit markets showed some signs of loosening up.

Global bank rescue aims to halt crisis; markets up (Reuters)
13 Oct 2008 at 2:20pm
A broker rests after monitoring share prices during morning trading at a securities company in Jakarta October 13, 2008. (Dadang Tri/Reuters)Reuters - The world bet solidly on recapitalizing ailing banks as the fastest way out of the financial crisis, sending stock markets higher after their worst week in history.

Morgan Stanley closes MUFG deal, Morgan shares soar (Reuters)
13 Oct 2008 at 1:29pm
The exterior of the headquarters of investment bank Morgan Stanley is pictured in New York City, September 17, 2008. (Mike Segar/Reuters)Reuters - Mitsubishi UFJ Financial Group Inc (MUFG) completed its $9 billion investment in Morgan Stanley on Monday as U.S. government support helped nail down a critical deal many investors had feared could fall apart.

GM shares rebound after Detroit merger reports (Reuters)
13 Oct 2008 at 9:18am
General Motors World Headquarters is seen along the Detroit River in Detroit, Michigan, September 17, 2008. (Rebecca Cook/Reuters)Reuters - Shares of General Motors Corp jumped almost 18 percent on Monday after reports the No. 1 U.S. automaker had been in merger talks in recent weeks with smaller rivals Ford Motor Co and Chrysler LLC.

Treasury moves on plan to recapitalize banks (Reuters)
13 Oct 2008 at 1:36pm
The U.S. Treasury building is seen in Washington, September 29, 2008. (Jim Bourg/Reuters)Reuters - Treasury Secretary Henry Paulson will meet with top Wall Street bankers on Monday in a scramble to finalize a plan for the government to buy bank shares to turn back a deep financial crisis.

London shares leap more than 4.84% (AFP)
13 Oct 2008 at 8:06am
The London Stock Exchange logo. The stock market has surged 4.84 percent in late morning trade after leading banks accepted billions of pounds of taxpayers' money to prop up their ailing institutions.(AFP/File/Ben Stansall)AFP - The FTSE 100 soared on Monday, with the index of leading shares up 4.84 percent after leading banks accepted billions of pounds of taxpayers' money to prop up their ailing institutions.

The Benefits Of Dollar-Cost Averaging (Investor's Business Daily)
10 Oct 2008 at 5:03pm
Investor's Business Daily - When autos go on sale, more people tend to want to buy. The same with clothing and TV sets and soft drinks.

Apparel chains report dismal September sales (AP)
9 Oct 2008 at 2:33pm
In this Aug. 12, 2008 file photo, shoppers walk in front of a Abercrombie & Fitch store in San Jose, Calif. Teen apparel retailer Abercrombie & Fitch Co. said Thursday, Oct. 9, 2008, that its September same-store sales dropped 14 percent, more than quadruple the drop Wall Street expected.  (AP Photo/Paul Sakuma, file)AP - Dismal September sales results from mall-based apparel chains, released Thursday, offered more fresh evidence that American consumers, spooked by the financial meltdown, shut their wallets tight last month.

Paul Krugman wins Nobel Prize for economics
13 Oct 2008 at 12:14pm

American Paul Krugman won the Nobel economics prize on Monday for his analysis of trade patterns and location of economic activity.

Krugman, born in 1953, and a professor at Princeton University in New Jersey and a columnist for The New York Times, formulated a new theory to answer questions about free trade, the Royal Swedish Academy of Sciences said.

'What are the effects of free trade and globalization? What are the driving forces behind worldwide urbanization? Paul Krugman has formulated a new theory to answer these questions,' the academy said in its citation.



World stocks rally strongly
13 Oct 2008 at 7:52am

European markets rallied strongly Monday following Asia's lead in response to the widespread government efforts over the weekend to shore up the world's battered financial system.

Germany's DAX was 309.28 points, or 6.8 percent, higher at 4,853.59, while France's CAC-40 was up 185.07 points, or 5.8 percent, at 3,361.56.

Britain's FTSE 100 was 181.11 points, or 4.6 percent, higher at 4,113.17, despite some hefty falls in the banks that have accepted government help. Wall Street was also projected to open up substantially higher.



Asia greets G7 weekend pledges
13 Oct 2008 at 3:41am

Oct 13 - Asian markets started higher on Monday after officials pledged to help repair the world's broken financial system.



FCC sides with NFL Network in dispute with Comcast
12 Oct 2008 at 11:38pm

The Federal Communications Commission has sided with the National Football League in a long-running programming dispute with Comcast Corp., ruling that Comcast should carry the league's NFL Network on its popular digital cable package.

In a decision released late Friday, the FCC ruled that Comcast discriminated against the NFL Network by agreeing to carry the channel only on a more expensive sports cable service. The NFL filed the complaint against Comcast in May.

The FCC ruling now goes before an administrative law judge, who could force Comcast to carry the NFL programming at a certain price.



Bush: US will work with partners on credit crisis
12 Oct 2008 at 7:34pm

U.S. President Bush emerged from a meeting with foreign financial officials on Saturday and said they were cooperating on a global response to the credit crisis that will lead toward a "path of stability and ...



GM, Chrysler in merger talks: source | Reuters
11 Oct 2008 at 3:27pm

General Motors has had talks with smaller rival Chrysler LLC about a merger that would combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to a source briefed on the matter.



Business & Bullion Weekend Report for Oct. 11
11 Oct 2008 at 3:24pm

Gold, silver and platinum were pressured lower Friday, but ended higher for the week in London. London silver, gold and platinum prices climbed 4 percent, 7.7 percent, and 4.4 percent, respectively. The Dow and S&P sank just over 18 percent, while the Nasdaq lost 15.3 percent.



Could the credit crunch kill green energy?
10 Oct 2008 at 1:02pm

The looming threat of climate change and soaring energy prices has attracted vast amounts of capital into clean energy companies in the past few years.



Dow Drops Below 9,000
10 Oct 2008 at 9:07am

A year and a day after the Dow Jones Industrial Average hit its all-time high, it fell below 9,000 for the first time in five years.



AIG Gets Another $37.8 Billion from Feds
9 Oct 2008 at 1:33pm

The Federal Reserve Bank of New York announced the borrowing of up to $37.8 billion in AIG fixed-income securities, in addition to last month's $85 billion loan to the insurer.



Pakistan, Iceland on the Brink of Bankruptcy
9 Oct 2008 at 1:32pm

Pakistan's financial reserves are nearly dried up; offshore haven Iceland is near economic implosion - when a government goes bankrupt, what happens on the international sphere and on the ground? Awash in Red ...



Crisis hits European car makers - Reuters
9 Oct 2008 at 11:39am

Oct 9 - European carmakers are cutting output as the the credit crisis hits and recession spooks consumers.



U.S. may take ownership stake in banks: NYT - MarketWatch
9 Oct 2008 at 11:38am

In another attempt to loosen credit markets and restore confidence in the financial system, the Treasury Department is considering a plan to take ownership stakes in many U.S. banks, both healthy and troubled, ...



Suntech: Solar demand exceeds supplies - Reuters
8 Oct 2008 at 3:54pm

Demand for solar panels still exceeds supply despite a global financial crisis, allowing solar power company Suntech Power Holdings Co Ltd to keep 2009 price declines in the range it had previously forecast.



Canadian economy still strong, but not immune to global downturn: economists
8 Oct 2008 at 3:51pm

Despite the unprecedented volatility that has left stock markets reeling in recent days, data continue to show that the underlying fundamentals of the Canadian economy are strong, economists say.



Paul Krugman Wins Economics Nobel
13 Oct 2008 at 2:34pm
The  Nobel prize in economics was awarded to Paul Krugman, a Princeton University scholar whose groundbreaking study on trade is less known to the public than his withering assessment of the Bush administration.

IMF Nations Vow to Prevent New Failures
13 Oct 2008 at 4:17am
The IMF chief said member nations agreed to do what is necessary to prevent another major financial institution from failing, although he didn't specify any measures.

Key Central Banks to Boost Liquidity
13 Oct 2008 at 11:58am
The Federal Reserve will begin providing unlimited dollar funding under its swap facilities with three major European central banks in an effort to ease strains in the financial markets. (ECB Statement)

China Import Pace Slows for Second Month
13 Oct 2008 at 2:27pm
China's import growth slowed for a second month in September, up 21.3% from a year earlier, as commodity demand appears to wane.

Treasury Hones Next Rescue Tool
13 Oct 2008 at 12:15pm
Paulson is fashioning yet another tool to stem turmoil in financial markets by injecting capital directly into banks, details of which could be announced Monday.

Mexican Crisis Holds Lessons for U.S.
13 Oct 2008 at 11:18am
Fed officials have discussed the ongoing crisis with Mexico's Guillermo Ortiz, a central banker who witnessed his own country's financial system implode.

Gulf Countries Unveil Measures to Back Banks
12 Oct 2008 at 8:44pm
The United Arab Emirates said it would guarantee domestic bank deposits and, with Saudi Arabia, promised fresh financial support to domestic banks.

China Grapples With Response to Global Crisis
12 Oct 2008 at 9:35pm
China's top leaders said the nation's main goal is to keep its economic house in order, pushing for "healthy and rapid" growth despite troubles elsewhere.

EU Writes Menu of Options
13 Oct 2008 at 1:31am
The euro zone's biggest economies prepared to unveil plans to spend tens of billions of euros in state funds to prop up their banking systems.

Pain Builds in Emerging Economies
13 Oct 2008 at 7:22am
The credit crisis is starting to take its toll on consumers in the big emerging economies of China, India, Russia and Brazil.

German Bailout Takes Shape
11 Oct 2008 at 2:28pm
Germany's Merkel heads to Paris to present Sunday to her colleagues from the euro zone a financial sector bailout plan for Germany that's expected to be more than half the size of what has been enacted in the U.S.

Nations Face Thorny Issues in Crisis
10 Oct 2008 at 9:35pm
Policy makers face a potentially daunting price tag for stakes in struggling banks as well as thorny questions about how to implement such programs.

Academia Says Bailout Aims Wrong
10 Oct 2008 at 11:48pm
Why hasn't the vast support given to the U.S. financial system managed to stem the problem so far? Because the heart of the plan was aimed at the wrong target, economists say.

Trade Deficit Shrinks, but Exports Drop
10 Oct 2008 at 1:30pm
Tumbling oil prices and lower demand for crude offset a decline in exports and narrowed the U.S. trade deficit in August.

Economists Expect Crisis to Deepen
10 Oct 2008 at 6:11pm
The U.S. economy has sunk into a recession and government action is critical to stem the damage, according to economists in the latest Wall Street Journal forecasting survey.

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