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October 08, 2008
UK to partially nationalize banks
The British government has announced an $87.5 billion plan to partially nationalize its major banks in a bid to restore economic stability.
October 07, 2008
Stocks tumble as Street worries about financials
Wall Street has had yet another dismal day, extending its heavy losses as investors’ worries about the financial sector wiped out early enthusiasm over the Federal Reserve’s efforts to inject confidence into the credit markets.
House to hold 401K hearings
A House panel today looks into how the stock market slide is impacting retirement accounts.
October 06, 2008
Credit crisis
World market suffer major losses
Bank of America changes loans to avoid lawsuits
Facing a lawsuit over deceptive mortgage practices, a Bank of America subsidiary will modify tens of thousands of loans to help keep people in 11 states from losing their homes.
Euorpean bank bailouts
The financial turmoil in Europe continues with Denmark and Sweden moving to bolster protection of bank accounts.
Aisan markets tumble
Asian stock markets plunged today as investors shrugged off Washington’s passage of a 700 billion dollar bailout plan.
September 30, 2008
Gold parties
Earlier this month gold reached an all-time high.
September 25, 2008
Trump calls bailout a ‘black eye’
Trump says the bailout is “probably needed” to stave off an economic depression brought about by “lots of bad policy by the Bush administration.“
Charities facing major holiday troubles
With so much of Wall Street looking for bailouts, there’s concern for the charities that depend on corporate generosity.
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 16, 2008
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.
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
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 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.
