Member 4868


Asia stocks slip as oil hovers near record (Reuters)

04-07-2008 12h13
Reuters - Asian stocks slipped on Friday as record high crude oil prices threatened to jeopardize earnings and curb consumer spending, with the uncertain economic outlook following U.S. jobs data boosting safe-haven government bonds. This week has been punctuated by stagflation fears and deteriorating sentiment after the Dow Jones industrial average slipped into a bear market this week, down more than 20 percent from October highs, joining Asia markets and pushing investors into safety-first mode.

Economy extends job loss streak (Reuters)

04-07-2008 04h15
Reuters - U.S. employers cut workers for a sixth straight month in June for the longest such streak since 2002 and the country's vast service sector unexpectedly contracted, underscoring the economy's frailty.

Former Refco CEO gets 16 years in prison (Reuters)

04-07-2008 05h30
Reuters - Phillip Bennett, the former chief executive of Refco, was sentenced to 16 years in prison on Thursday for fleecing investors of more than $2.4 billion in a fraud that destroyed the world's largest independent commodities broker.

For stocks, escaping bear hinges on oil, GE (Reuters)

04-07-2008 08h36
Reuters - It will be tough for Wall Street to shake off the bear market blues next week if the price of oil keeps rising and the earnings season kick-off from Alcoa and General Electric disappoints investors.

Hedge fund swindler Israel denied bail, jailed (Reuters)

04-07-2008 02h10
Reuters - Hedge fund swindler Samuel Israel III faced a fresh charge of bail jumping on Thursday and was ordered to jail immediately, one day after his mother convinced him to end a high-profile run from justice.

62,000 jobs lost, off nearly half-million for year (AP)

04-07-2008 07h45
AP - The nation lost jobs for a sixth month in a row in June, a storm of pink slips drenching this year's July Fourth holiday for more than 60,000 Americans and leaving thousands more worried about the future.
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