Banks and economy to keep bears' grip on stocks
Wall Street is unlikely to get a reprieve next week as relentless worries about U.S. banks and the economy could embolden bears to drive the market below the 12-year lows hit on Friday.
Bank fear sends S&P to worst-ever start to a year
U.S. stocks fell and the S&P 500 marked its worst-ever start to a year on Friday, after the government said it will take a large stake in Citigroup's common shares, fanning fears it will increase its role in other major banks.
AIG talks weigh securitizing life policies: source
American International Group Inc may securitize some U.S. life insurance policies and have the interest rate on a government loan lowered, as talks continue to help the insurer deal with its financial problems, a source familiar with the matter said on Friday.
Obama sets Iraq deadline, unveils new strategy
President Barack Obama said on Friday he would pull U.S. combat troops out of Iraq in 18 months as he unveiled a new strategy that stressed diplomacy and engagement with foes like Iran and Syria.
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Citigroup gets new rescue, U.S. may own 36 percent
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S&P hits 12-year low as U.S. stake in Citi stirs fear
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U.S. economy plummets
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S&P at 12-year low, Citi stirs fear
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CES 2021 Highlight: Robot Vacuum And Mop From Roborock Unveiled, 50Hz Scrubber For Tough Stains
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CES 2021 Highlight: HONOR Band 6 Global Version Launch, The Most Functional Affordable Fitness Tracker to Date
More news
GE slashing payout to protect flexibility
General Electric Co plans to cut its quarterly dividend by 68 percent to 10 cents a share, starting in the second half of 2009, a move that it said would provide it with more flexibility in the face of a recession.
Citi shakeup coming as U.S. tightens grip
Citigroup will soon announce replacements on its board of directors as the struggling banking giant's shares continue to sink. The New York-based firm must now also deal with its new largest shareholder, the U.S. government.
Oil pulled lower by dismal U.S. GDP data
Oil prices fell 1 percent on Friday, pulled lower by U.S. data showing the economy of the world's largest energy consumer shrank more than expected in the final three months of 2008.
Citigroup gets new rescue
The U.S. government will boost its equity stake in Citigroup Inc to as much as 36 percent, bolstering the bank's capital base in the latest emergency effort to save the ailing banking giant.
Financial worry and GDP weigh on stocks
Stocks dipped on Friday as a move by the U.S. government to take a large stake in common shares of embattled Citigroup fanned fears it will take a bigger role in overseeing some troubled major banks.
Chrysler scraps clocks in race against time
Chrysler LLC, which is seeking $5 billion in additional federal aid to survive, has lowered the thermostat, dimmed the lights and stripped the clocks from the walls of its sprawling headquarters to save cash.
U.S. boost stake in Citigroup
The U.S. government will boost its equity stake in Citigroup Inc to as much as 36 percent, bolstering the bank's capital base in the latest emergency effort to save the ailing banking giant.
GE cuts quarterly dividend to protect liquidity
General Electric Co plans to cut its quarterly dividend to 10 cents a share starting in the second half of 2009, a move that it said would provide it with more flexibility in the face of a recession.
GE commits $150M for stake in Oil, Gas venture
General Electric's Energy Financial Services unit signed a deal to invest $150 million to partner with ATP Oil & Gas Corp. to operate a floating oil and gas production unit in the deep waters of the Gulf of Mexico.
GM plans Opel spin-off, needs billions from governments
The European unit of U.S. carmaker General Motors said it planned to spin off its German arm Opel and needed 3.3 billion euros ($4.2 billion) in state aid to avert job cuts and site closures.
Ford sees February U.S. auto sales near 9 million annual rate
Ford Motor Co expects U.S. auto industry sales to drop to about a 9 million unit range on an annualized basis in February as retail demand slipped, the automaker's chief sales analyst said on Friday.
Madoff moved $164 million from UK firm to U.S.: receiver
Accused swindler Bernard Madoff moved $164 million from his firm in Britain to New York in the weeks before he was arrested on a charge of running the largest Ponzi scheme in Wall Street history, according to court papers.
Stanford receiver finds $90 million in assets: FBI
The court-appointed receiver overseeing the financial empire of Texas billionaire Allen Stanford, who is charged with fraudulently selling $8 billion in certificates of deposit, has located $90 million in assets so far, an FBI agent said on Friday.
Oil drops as GDP shrinks to record low, market expects output cut
Crude oil futures dropped more than 3 percent on Friday for the decline in four days after U.S. data showed economic activity had the largest quarterly decline since 1982.
Citi woes, GDP weigh but bargain hunters prowl
U.S. stocks dipped on Friday as a move by the U.S. government to take a large common equity stake in embattled Citigroup sowed more uncertainty over the fate of banks and grim economic data weighed on trading.
GM plans Opel spin-off
The European unit of U.S. carmaker General Motors said it planned to spin off its German arm Opel and needed 3.3 billion euros ($4.2 billion) in state aid to avert job cuts and site closures.
U.S. fourth-quarter GDP drop biggest since 1982
The U.S. economy suffered its deepest contraction since early 1982 in the fourth quarter, shrinking at a much worse-than-expected 6.2 percent annual rate as exports plunged and consumers slashed spending.
Wall Street cuts losses on bargain hunting
Stocks briefly cut losses on Friday as investors scoured the market for beaten-down shares following the S&P 500's earlier drop to a 12-year low.
Wall Street drops on Citi worries and GDP
Stocks slid to a 12-year low on Friday as a move by the U.S. government to take a large common equity stake in embattled lender Citigroup sowed more uncertainty over the fate of major banks.
Wall Street drops on Citi worries, grim GDP
Stocks slid to a 12-year low on Friday as a move by the U.S. government to take a large common equity stake in embattled lender Citigroup sowed more uncertainty over the fate of major banks.
GM's Opel agrees to restructuring plan
General Motors' German unit Opel agreed to a restructuring plan that aims to save as many jobs and factories as possible but needs 3.3 billion euros ($4.18 billion) in state aid, GM officials said.
Russian bomber neared Canada before Obama visit
Canadian fighters scrambled to intercept an approaching Russian bomber less than 24 hours before U.S. President Barack Obama's visit to Ottawa last week, Canadian Defense Minister Peter MacKay said on Friday.
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