Global stocks hit 5-1/2 year lowsHONG KONG (Reuters) - A 6 percent fall in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell below $53 and safe havens such as the yen gained on fears the global recession and a financial crisis will get uglier.
Thu, 20 Nov 2008 02:41:29 -0500
Prospect for auto bailout dims as Senate races clockWASHINGTON (Reuters) - Chances dimmed that a last-minute plan being crafted by Republican senators, with White House support, to provide $25 billion to bail out U.S. automakers would receive enough backing from Democrats to pass before the end of this week.
Wed, 19 Nov 2008 23:38:41 -0500
Financials need at least $1 trillion: analyst(Reuters) - The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said.
Thu, 20 Nov 2008 01:45:33 -0500
Fed signals ready to cut rates amid glum outlookWASHINGTON (Reuters) - Federal Reserve officials have pared their outlook for economic growth through 2009 to minimal levels and are prepared to cut interest rates further, while concern has risen that a deflationary spiral may take hold.
Wed, 19 Nov 2008 19:39:32 -0500
Obama taps Arizona governor for homeland security: reportWASHINGTON (Reuters) - U.S. President-elect Barack Obama's top choice to lead the U.S. Department of Homeland Security is Arizona Gov. Janet Napolitano, CNN reported on Wednesday, citing multiple sources.
Thu, 20 Nov 2008 00:24:10 -0500
California court to hear gay marriage ban caseSAN FRANCISCO (Reuters) - California's Supreme Court on Wednesday agreed to hear a legal challenge against the state's voter-approved ban on gay marriage and let the ban stand in the meantime.
Wed, 19 Nov 2008 21:26:35 -0500
U.S. woman posed as teen online, teased girl: attorneyLOS ANGELES (Reuters) - A Missouri woman established a fake identity online to torment a vulnerable teenage girl who later committed suicide, federal prosecutors said on Wednesday in a trial that is being closely watched by the burgeoning social networking industry.
Wed, 19 Nov 2008 23:15:05 -0500
Small businesses feel Wall Street's painBOSTON (Reuters) - Wall Street's pain is rippling through U.S. small businesses, as bankers who once pulled in million-dollar bonuses lose their jobs and cut back spending on everything from parties to home improvements.
Thu, 20 Nov 2008 00:48:20 -0500
U.S. probing Golden West lending, sale: prosecutorSAN FRANCISCO (Reuters) - The government is investigating if homeowners were misled by California bank and mortgage issuer Golden West Financial, which was acquired by Wachovia Corp -- another possible victim.
Thu, 20 Nov 2008 00:27:40 -0500
Qaeda scorns Obama with racial slurWASHINGTON (Reuters) - Al Qaeda's deputy leader accused Barack Obama of betraying his race and his father's Muslim heritage on Wednesday and urged more attacks, as the group tried to counter the incoming U.S. president's global popularity.
