Member 1943


BofA earnings tumble, cuts dividend (Reuters)

07-10-2008 08h40
Reuters - Bank of America Corp, citing "recessionary conditions," on Monday halved its dividend and said it would sell at least $10 billion in new common stock to bolster its capital to offset rising loan losses.

Dow dives below 10,000 on credit, recession fears (Reuters)

07-10-2008 07h09
Reuters - Stocks slid for a fourth straight day on Monday, leaving the Dow below 10,000 for the first time in four years, on fears the global economy was hurtling into recession despite government efforts to contain the fast-spreading financial crisis.

Crisis hammers stocks, U.S. urges unified response (Reuters)

07-10-2008 08h35
Reuters - Governments around the world scrambled for new measures to contain the fast-spreading credit crisis as stock, bond and commodity markets bet on deepening uncertainty and a sharp downturn.

Oil drops 6 percent to below $88 on demand concerns (Reuters)

07-10-2008 04h43
Reuters - Oil dropped more than 6 percent to below $88 a barrel on Monday as a global market rout churned concerns that faltering fuel demand could slow further.

Lehman's Fuld: Where was our bailout? (Reuters)

07-10-2008 07h49
Reuters - Richard Fuld, the disgraced head of Lehman Brothers , said he would wonder "until they put me in the ground" why the U.S. government did not rescue the 158-year-old Wall Street firm and claimed regulators knew the full scale of its condition far before its collapse.

Fed, Treasury take steps to confront financial crisis (AFP)

07-10-2008 06h29
AFP - The Federal Reserve and the US Treasury, armed with new emergency powers, announced measures Monday to tackle a rapidly escalating financial crisis as panicked investors fled stock markets.

Credit crisis adds to pressures on auto dealers (AP)

06-10-2008 20h09
AP - Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan.

Financial turmoil takes toll on September sales (AP)

07-10-2008 04h45
AP - WHAT'S UP: Retailers are expected to report dismal same-store sales figures on Wednesday, providing the first full gauge of consumer behavior since the financial meltdown began. The only bright spots will be discounters and wholesale clubs as customers focus on bare-bone essentials.
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