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September 24, 2008
Senators spar on morning show
Senator Charles Schumer says he believes Congress must act quickly to rebuild the crumbling financial system but that lawmakers must have a strong supervisory role in how the
700 billion dollar bailout program is run.
September 23, 2008
Stocks trading higher today
Stocks are moderately higher in early trading as investors await testimony from top federal economic officials before Congress about efforts to hammer out a $700 billion financial rescue plan.
September 19, 2008
Russian markets resume trading
Trading resumed late Friday afternoon after a volatile session saw stocks shoot higher.
September 18, 2008
SC company closing 2 plants, cutting 700 jobs
The Fort Mill, S.C.-based company makes polyester fibers and products including packaging resins.
Car seat supplier expanding in Spartanburg
The Michigan-based company that makes seats and electric parts announced Wednesday that it plans to spend $10.8 million on the expansion.
September 16, 2008
Stocks headed downward again
Worries about AIG have intensified after several ratings agencies reduced their ratings on the company.
Congress to consider stiffer financial regulations
A Congress criticized for being asleep at the switch as financial problems festered on Wall Street now is eyeing tough new regulations for investment banks.
September 15, 2008
Fed announces new emergency loan programs
A statement from Fed Chairman Ben Bernanke says the central bank is broadening the types of collateral that financial institutions can use to obtain emergency loans from the Fed.
World markets tumble on Lehman bankruptcy
The biggest stock exchanges in Japan, Hong Kong and South Korea are closed for holidays, but every market that’s open is deep in the red.
Bank of America buys Merrill Lynch
A person briefed on the deal says Charlotte-based Bank of America is buying Merrill Lynch for about 50 billion dollars
September 10, 2008
Stocks impacted by Lehmen announcement
U.S. stock futures have come well off their highs following Lehman Brothers Holdings Inc.‘s announcement that it plans to sell a majority stake in its investment management division and would consider selling itself.
Lehmen Brothers meltdown
Shares in the nation’s fourth-largest investment bank have fallen more than 80 percent this year as investors lost confidence amid mounting losses.
September 09, 2008
NC company lands Air Force contract
A North Carolina company will receive a $6 million contract from the U.S. Air Force research laboratory to create a system to restrain the heads and necks of fighter pilots.
Congress warms to more oil drilling
That announcement frees up a vote on a defense bill Republicans had held up because of partisan disputes over the country’s energy policy.
September 02, 2008
Oil Companies Find Little Damage in Gustav’s Wake
HOUSTON (Reuters) - Energy companies found little damage to their U.S. facilities during initial checks Tuesday in the wake of Hurricane Gustav—signaling a possible fast recovery from the biggest storm to threaten the oil sector since hurricanes Katrina and Rita in 2005.
August 29, 2008
Stocks open lower after personal income data
Stocks fell in early trading after the government said personal incomes fell last month by the largest amount in nearly three years while consume ...
August 18, 2008
City of Charleston investment plan ruled unconstitutional
The state Supreme Court says a trust fund set up to help South Carolina cities and towns cover future retiree benefits is unconstitutional because it invested money in stocks of publicly traded companies.
August 15, 2008
Fuel costs could ‘devastate’ airlines
Rising fuel costs could drive major air carriers out of business and hurt economy, says report.
Airports cash in on flight delays
Airports are turning into multibillion-dollar shopping malls and service providers for stranded passengers.
Think flying stinks? It may get worse
Despite recent slide in oil prices, profit-challenged airlines will likely have to keep raising fares, adding fees and cutting service.
