Member 1158


Citigroup aims to shed $400 billion of assets (Reuters)

10-05-2008 04h44
Reuters - Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.

AIG's loss and record oil sour mood on Wall St (Reuters)

10-05-2008 05h30
Reuters - Stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Inc reported a massive loss.

AIG sees no signs of mortgage asset market rebound yet (Reuters)

10-05-2008 03h43
Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.

Oil hits record $126 on supply worry (Reuters)

10-05-2008 04h45
Reuters - Oil jumped to a record above $126 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.

Countrywide falls on worry over B of A merger (Reuters)

10-05-2008 04h39
Reuters - Countrywide Financial Corp shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.

March trade deficit drops by bigger-than-expected amount (AP)

10-05-2008 06h23
AP - The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. Analysts forecast that trade would continue to be one of the economy's few bright spots this year.

Time Is Prime Driver With Mutual Funds (Investor's Business Daily)

09-05-2008 06h59
Investor's Business Daily - Buying a mutual fund is a different game than buying a stock.

Icahn prepared to buy Circuit City if Blockbuster can't (AP)

10-05-2008 01h38
AP - Consumer electronics retailer Circuit City Stores said Friday that it will allow Blockbuster to review its books in connection with the video-rental chain's bid to buy the company.
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