Monday, 06 October 2008
 
 
Business
Yahoo! News: Business
Business

Yahoo! News
  • Stocks tumble in global sell-off (Reuters)

    A news ticker shows the Dow Jones industrial average dipping below 10,000 points in New York's Times Square October 6, 2008. (Shannon Stapleton/Reuters)Reuters - Stocks fell on Monday, with the Dow diving 400 points to below 10,000 for the first time in four years, as investors feared the widening fallout from the credit crisis would drag the economy into recession.




  • Fed to boost auctions, pay interest on reserves (Reuters)
    Reuters - The Federal Reserve on Monday announced a series of steps to funnel massive amounts of liquidity through clogged credit markets, including boosting the sizes of cash auctions and offering banks interest on reserves.

  • SEC, Fed aware of everything at Lehman: Fuld (Reuters)
    Reuters - The disgraced head of Lehman Brothers Holdings Inc told Congress on Monday that U.S. banking regulators knew exactly how Lehman was pricing its distressed assets and about its liquidity in the months before its collapse.

  • Oil falls to 8-month low below $90 a barrel (Reuters)

    General view of the Tema oil refinery near Ghana's capital Accra in this file photo from March 28, 2005. (Yaw Bibini/Reuters)Reuters - Oil was near $90 a barrel on Monday after falling to its lowest in eight months earlier in the session, pressured by expectations the global credit crisis will bring a sharp drop in oil demand.




  • EU pledges crisis action as U.S. urges coordination (Reuters)

    Foreign currency dealers monitor screens displaying exchange rates between the dollar and the Korean won at the Korea Exchange Bank (KEB) in Seoul October 6, 2008. (Jo Yong-Hak/Reuters)Reuters - The European Union pledged on Monday to protect people's savings and maintain financial stability while Washington urged a more coordinated approach to the worst banking crisis in nearly 80 years.




  • European, Asian markets plunge on crisis fears (AP)

    An investor reacts as he watches a display showing stock prices at a brokerage firm  in Hong Kong Monday, Oct. 6, 2008.  Hong Kong's benchmark index tumbled in early trade Monday as rescue plans by the U.S. and Europe to bailout the financial sector failed to lift investors' sentiments. At midday, the blue chip Hang Seng Index dropped 592.83 points, or 3.35 percent, to 17,089.57.(AP Photo/Vincent Yu)AP - Asian and European stock markets plunged Monday as government bank bailouts in the U.S. and Europe failed to alleviate fears that the global financial crisis would depress world economic growth.




  • Credit crisis adds to pressures on auto dealers (AP)

    Ford Mustangs sit on the lot of a new car dealership in July 2008. US auto sales took a beating in September as financial turmoil on Wall Street emptied dealer showrooms and major automakers reported sales drops of up to 37 percent Wednesday.(AFP/Getty Images/File/Scott Olson)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.




  • Family Dollar profit tops estimates (Reuters)
    Reuters - Family Dollar Stores Inc posted a higher-than-expected quarterly profit on Friday, helped by shoppers who spent tax rebate checks at the discount retailer and by closely controlling costs.


   
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