ABC News
Treasury Drafts Broad Rules on More Auto Industry AidBloomberg - 1 hour agoBy Rebecca Christie Dec. 31 (Bloomberg) — The US Treasury drafted broad guidelines for aid to the auto industry that would let officials provide funds to any company they deem important to making or financing cars.US Treasury Completes Billion Stock Purchase With [...]
ABC News
Madoff complying with assets disclosure deadlineReuters - 2 hours agoBy Grant McCool NEW YORK (Reuters) - Accused swindler Bernard Madoff was complying with a court-ordered deadline to tell US regulators how much money he has left, as lawmakers prepared to take their first close look at the alleged scheme that duped …Video: Madoff's Long List [...]
Reuters
Dell Turnaround Hits Bump With Reorganization WoesCNNMoney.com - 1 hour agoSAN FRANCISCO -(Dow Jones)- The departure of a management team hired to turn around Dell Inc. (DELL) may suggest the 10-month-old restructuring program of the world's second-biggest computer maker is in trouble.Dell Replaces Jarvis, Cannon in Global Reorganization BloombergDell reorganizing global structure Bizjournals.comNew York Times - [...]
The blue-chip index suffers its worst annual loss since 1931 and third-worst loss ever. Jobless claims rise, but not as much as expected. Mortgage rates continue to decline. Dell is shaking up its leadership. Online holiday sales drop 3%.
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The Dow’s loss is its third-worst ever, as trillions of dollars of wealth disappear and panic nearly wrecks the global financial system. While there are cautious hopes for a rebound in 2009, investors face big headwinds.
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Pimco Delays Dividend Payment on Two Closed-End FundsBloomberg - 3 hours agoBy Adam L. Cataldo Dec. 31 (Bloomberg) — Pacific Investment Management Co., which runs the world???s largest bond fund, said it is postponing two dividend payments to investors in a pair of closed-end municipal bond funds.Pimco suspends dividend on 2 more funds BusinessWeekTwo more [...]
FOX Toledo Online
Macy's customers might be overchargedBizjournals.com - 1 hour agoMacy???s Inc. is warning that some of its shoppers who purchased items Dec. 20 might have been charged more than once. The Cincinnati-based retailer said a system error caused some debit cards to be charged multiple times, according to the published …Some Macy's Shoppers Charged Twice [...]
RenewableEnergyWorld.com
Alternative energy companies stung by tight creditForbes - 1 hour agoBy DIRK LAMMERS , 12.31.08, 04:52 PM EST Alternative energy stocks were battered on Wall Street in 2008 as volatile commodity prices, a continuing global recession and tightening credit markets drove one ethanol company into bankruptcy protection and …Cleantech forecast: guardedly optimistic San Jose Mercury [...]
Austria Weighs Overseer for Bank in Madoff CaseNew York Times - 55 minutes agoBy JULIA WERDIGIER Austria???s financial regulator is considering appointing an outside overseer to the board of Bank Medici, the small Viennese merchant bank that lost billions of dollars it invested with Bernard Madoff, the American fund manager who …Austria to run Medici [...]
China Daily
Oil Surges 13 Percent on Lower-Than-Forecast Fuel Supply GainBloomberg - 2 hours agoBy Mark Shenk Dec. 31 (Bloomberg) — Crude oil rose 13 percent, trimming a record annual decline, after a government report showed a smaller-than-expected gain in US fuel supplies.Oil rises in quiet trading to cap turbulent year BusinessWeekOil plunges for year, losing 4 [...]
