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December 02, 2008
Chrysler Nov. US sales drop 47 pct; GM down 41 pct
Chrysler says its November U.S. sales plunged 47 percent, blaming a slumping industrywide demand and a planned drop in fleet sales.
November 25, 2008
Economy’s tumble even worse than expected in third quarter
The economy shrank more than expected in the third quarter.
November 24, 2008
Stocks soar after government bailout of Citigroup
Wall Street has barreled higher for the secondstraight session, this time in a relief rally over the government’s plan to bail out Citigroup Inc.
Report on existing home sales to be released
We’ll get an update on the housing market slump today, as the National Association of Realtors reports on existing home sales.
Citigroup fears send world markets lower
Some of those losses have started to recede though, now that the U.S. government has announced a plan to rescue the troubled banking giant.
November 20, 2008
Market unrest continues
Asian stock markets are headed down again amid fears of a protracted recession that sent Wall Street plunging to it lowest point in five years.
November 19, 2008
US housing starts hit record low
The Commerce Department reported Wednesday that construction of new homes and apartments dropped more than expected to an annual rate of 791,000 units from an upwardly revised September rate of 828,000 units.
Largest consumer price drop in 61 years reported
The Labor Department reports that consumer prices fell by 1 percent last month, the biggest one-month decline on records that go back to February 1947.
November 18, 2008
Paulson, Bernanke to testify before congress
They’re expected to explain why the administration has ditched its original strategy behind the rescue.
Asian markets continue slide
They sank after Wall Street retreated and global financial firms announced another round of massive layoffs, adding to gloom about the world economy.
November 17, 2008
Yahoo to replace Yang as CEO, ending rocky reign
Yahoo will replace founder Jerry Yang as CEO as soon as a replacement is found.
Treasury sets new deadline for banks to apply
The government says 3,800 banks will have until early December to apply for a share of the $700 billion financial system rescue program.
Stocks stage late decline
Stocks capped today’s session with another late decline.
Survey: Economists see prolonged recession
The economists expect the jobless rate to rise to 7.5 percent by the end of next year.
GM selling stake in Suzuki
Suzuki Motor Corp. says General Motors Corp. will sell its stake in the Japanese automaker for 22.37 billion yen, or $230 million, to raise cash.
November 14, 2008
Wall Street rally fuels world markets
Investors are looking at beaten-down shares while global leaders gather in Washington to discuss ways to tackle the world financial crisis.
November 13, 2008
German economy enters recession
The Federal Statistical Office said Thursday that gross domestic product contracted by 0.5 percent in the July-September period compared with the previous quarter.
World markets react to Wall Street losses
Asian stock markets tumbled Thursday amid more signs of a sharp downturn in the U.S. economy.
November 12, 2008
Struggles continue on Asian markets
Asian stock markets faltered today with Japan’s benchmark losing 1.3 percent, as evidence mounted that a worsening global economy has taken a toll on companies.
Obama not attending economic summit
President-elect Obama is keeping his distance from world leaders right now, and will not attend this week’s economic summit at the White House.
November 11, 2008
Tax breaks for firms taking over banks
A new tax policy from the Treasury Department will let companies that take over banks hit by the mortgage crisis to write off more of the losses.
American Express to become commercial bank
The decision opens the door to American Express being able to accept deposits and permanently access low-cost financing from theFed
Asia stocks retreat, Europe lower
Stock markets in Asia declined and European markets opened lower today as the luster wore off China’s nearly $600 billion bailout of its own economy.
November 10, 2008
China stimulus package rallies foreign markets
China’s $586 billion stimulus plan is taking stocks higher today on international markets.
Futures up as Wall Street gauges economy
China’s announcement of a major economic stimulus may ripple all the way to Wall Street.
November 07, 2008
GM reports $2.5B 3Q loss, says running out of cash
General Motors says it suffered a third quarter loss of $2.5 billion.
World markets mixed on Friday
Most markets in Asia rebounded from early lows despite a grim profit forecast from Toyota and sluggish U.S. economic data.
November 06, 2008
Yahoo struggles continue after Google deal evaporates
Yahoo is looking for something to cheer about amid dashed hopes that Google could help the Internet pioneer dig out of a big slump.
International markets follow Wall Street dip
Asian stock markets tumbled with the major indexes down while European stocks got off to a weak start, with benchmarks in Germany, Britain and France losing ground.
November 03, 2008
World markets, U.S. futures perform well on Monday
Monday’s early performance of U.S. stock futures suggests Wall Street will open higher. The futures are up modestly.
