Reuters: Business News
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Asia stocks at 5-year low 21 Nov 2008 at 6:54am
HONG KONG (Reuters) - Waves of selling in world stock markets crashed into Asia on Friday, with gains from the region's 5-year bull run now erased as a global recession tightened its grip, and investors sought refuge in government bonds and cash.
Democrats demand U.S. Big 3 offer survival plan 21 Nov 2008 at 6:15am
WASHINGTON (Reuters) - Democratic congressional leaders, seeking to salvage a bailout of the Big Three automakers, demanded executives provide a business survival plan in exchange for their support of up to $25 billion in loans.
Citigroup eyes options including merger 21 Nov 2008 at 4:02am
NEW YORK (Reuters) - Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.
Fannie Mae, Freddie Mac suspend some foreclosures 21 Nov 2008 at 12:33am
NEW YORK (Reuters) - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.
Fed's Bullard: U.S. deflation an issue Fed must face 21 Nov 2008 at 5:37am
EVANSVILLE, Indiana (Reuters) - Deflation would be very damaging to the United States economy and with nominal interest rates already very low, quantitative easing may be needed to keep it at bay, a top Federal Reserve official said on Thursday.
Dell profit tops Street view, shares rise 21 Nov 2008 at 1:29am
SAN FRANCISCO (Reuters) - Dell Inc, the world's No. 2 PC maker, posted a better-than-expected quarterly profit on Thursday as cost cuts offset lower revenue, sending its shares up about 6 percent.
Paulson defends handling of U.S. financial crisis 21 Nov 2008 at 1:36am
SIMI VALLEY, California (Reuters) - Treasury Secretary Henry Paulson on Thursday defended his handling of the financial crisis but refused to say whether any further help will be offered to struggling bank Citigroup.
NY City securities workforce down to Sept 2005 level 21 Nov 2008 at 2:43am
NEW YORK (Reuters) - New York City's securities companies shed 16,000 employees in October, measured on a year-over-year basis, pushing the total work force down to a level last seen September 2005, a state labor analyst said on Thursday.
Marsal to lead team of over 600 at Lehman 21 Nov 2008 at 2:06am
NEW YORK (Reuters) - Bryan Marsal, currently chief restructuring officer of Lehman Brothers Holdings Inc , will take over as chief executive of the bankrupt investment bank after the close of business on December 31, a lawyer for the company said in court on Thursday.
Oil falls over $1 on demand worries 21 Nov 2008 at 3:17am
SINGAPORE (Reuters) - U.S. crude oil dropped more than $1 a barrel on Friday, falling for sixth straight sessions as more distress for the global economy threatened to eat further into demand for fuels.
