Yahoo! News: Business
Business
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Dow loses 679.95 as economy, Bernanke revive fear (Reuters)
Reuters - Stocks tumbled on Monday as signs of a deepening economic slump around the world erased much of last week's sharp gains, with banks and retailers among Wall Street's biggest casualties.
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Bernanke says Fed has options as rates near zero (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke on Monday urged decisive action to protect the economy and said the central bank had alternative tools it could employ to help as interest rates approach zero.
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Manufacturing slumps to 1981-82 recession levels (Reuters)
Reuters - Factory activity dropped in November to its weakest level since the 1981-1982 recession and construction spending slumped in October, data showed on Monday, fanning fears of a protracted economic downturn.
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Stocks slide as economy, Bernanke raise fears (Reuters)
Reuters - Stocks tumbled on Monday as news pointing to the deepening economic slump around the world erased much of last week's sharp gains, with financial services companies and retailers among Wall Street's biggest casualties.
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Stocks plunge as bad data piles up (AFP)
AFP - Stock markets in Europe and the United States plunged on Monday, succumbing to a deluge of bad economic data pointing to a severe global slowdown and reversing some of the gains made last week.
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Recession started in December 2007: panel (Reuters)
Reuters - The U.S. economy slipped into recession in December 2007, the nation's business cycle arbiter declared on Monday, and the downturn could be the worst since World War Two.
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Stocks ends lower on economic worry (Reuters)
Reuters - Stocks tumbled on Monday as news pointing to the deepening economic slump around the world erased the bulk of last week's sharp gains, with financial services companies and retailers among Wall Street's biggest casualties.
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U.S. working on new lending programs: Paulson (Reuters)
Reuters - Treasury Secretary Henry Paulson said on Monday that more programs were being developed to stimulate lending but warned a severe financial crisis is stubbornly persisting.
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Fed's Bernanke says policy must act with vigor (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke on Monday urged decisive action to protect the U.S. economy and said the Fed could directly buy securities and backstop markets as interest rates approach zero.
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Stocks slide as Bernanke confirms economic stress (Reuters)
Reuters - Stocks tumbled on Monday as economic reports showing further evidence of the worsening global economic climate were backed up in comments from Federal Reserve Chairman Ben Bernanke.
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Investors sue Countrywide to force loans purchase (Reuters)
Reuters - A group of bond investors on Monday sued Bank of America -owned Countrywide Financial demanding that Countrywide buy every mortgage loan for which it agrees to reduce the payments under a predatory lending settlement agreement.
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Bank stocks tumble again as gloom deepens (Reuters)
Reuters - U.S. bank stocks tumbled on Monday on expectations that a deepening global economic slump will reduce employment, crimp borrowers' access to credit and spur more writedowns.
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TSX falls farther on commodity price drop (Reuters)
Reuters - The Toronto Stock Exchange's main index fell more than 7 percent midday on Monday, after a six-day streak in positive territory, in a broad selloff that was led by resource shares as oil and metals prices dropped sharply.
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Fed's Bernanke says U.S. policy must act with vigor (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke warned on Monday that the U.S. economy remained under considerable strain and said policy-makers must be ready to take decisive action to protect jobs and growth.
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Retailers offer deals, discounts on 'Cyber Monday' (AP)
AP - Retailers who saw Thanksgiving holiday sales drop off as the weekend progressed stepped up online promotions on the day known as "Cyber Monday" to try to get consumers tired of the crowds at stores to keep shopping.
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Wall Street stays near lows on Bernanke comments (Reuters)
Reuters - Stocks stayed near session lows on Monday after Federal Reserve Chairman Ben Bernanke said that the U.S. economy remained under considerable stress.
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J.P. Morgan sees Fed cutting rates to zero in Jan (Reuters)
Reuters - The Federal Reserve will lower its policy rate to zero percent by January in its attempt to avert a prolonged recession and to revive the struggling credit market, according to J.P. Morgan Securities analysts.
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FTSE 100 slumps more than 5% (AFP)
AFP - The London stock market slumped more than five percent on Monday, mirroring heavy losses across Europe and on Wall Street as investors banked profits from recent strong gains.
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Web retailers Amazon, eBay down on Cyber Monday (Reuters)
Reuters - Shares of eBay Inc , Amazon.com Inc and other online retailers fell on "Cyber Monday," as analysts worried that deep discounts from traditional retailers may have stolen the thunder from their online-only rivals, known for lower pricing.
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Economic slump and spending woe sink Wall Street (Reuters)
Reuters - Stocks slid on Monday as news pointing to the deepening economic slump around the world punctured last week's market enthusiasm, with financial services companies and retailers among Wall Street's biggest casualties.
Yahoo! News: Business
