Business

Leaders May Close World's Markets
Bloomberg - Fri Oct 10, 2008
Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the worlds financial markets while they "rewrite the rules of international finance. More»

White House considers "ownership stakes" in banks
Associated Press - Wed Oct 8, 2008
The Bush administration is considering taking ownership stakes in certain US banks as an option for dealing with a severe global credit crisis. More»

Retirement accounts have lost $2 trillion so far
Associated Press - Mon Oct 6, 2008
Americans retirement plans have lost as much as $2 trillion in the past 15 months - about 20 percent of their value - Congress top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers nest eggs. More»

Mortgage forgiven for woman, 90, who shot herself
Associated Press - Sun Oct 5, 2008
AKRON, Ohio - Mortgage finance company Fannie Mae said it is forgiving the mortgage debt of a 90-year-old woman who shot herself in the chest as sheriffs deputies attempted to evict her. More»

Credit crisis erodes faith in Washington
Associated Press - Fri Sep 26, 2008
WASHINGTON - As if people needed one more reason to question their faith in Washington. More»

WaMu becomes biggest bank to fail in US history
Associated Press - Thu Sep 25, 2008
NEW YORK - As the debate over a $700 billion bank bailout rages on in Washington, one of the nations largest banks - Washington Mutual Inc - has collapsed under the weight of its enormous bad bets on the mortgage market. More»

Hundreds of Economists Urge Congress Not to Rush on Rescue Plan
Bloomberg - Wed Sep 24, 2008
More than 150 prominent US economists, including three Nobel Prize winners, urged Congress to hold off on passing a $700 billion financial market rescue plan until it can be studied more closely. More»

Run on Hong Kong Bank
Telegraph, UK - Tue Sep 23, 2008
Panicked customers queued to withdraw their savings from branches of the Bank of East Asia in Hong Kong as rumours circulated that the bank was facing financial problems, agencies reported. More»

FDIC Funds Are Dwindling
Associated Press - Tue Sep 16, 2008
Banks are not the only ones struggling in the growing financial crisis - The fund established to insure their deposits is also feeling the pinch, and the taxpayer may be the lender of last resort. More»

Bank of America grabs distressed Wall Street icon Merrill Lynch
AFP - Sun Sep 14, 2008
NEW YORK - Bank of America announced Monday it was buying Merrill Lynch for 50 billion dollars in stock, scooping up the Wall Street icon battered by the housing and credit crisis. More»

More Bank Trouble: "Financial Meltdown"
Associated Press - Sun Sep 14, 2008
NEW YORK - When Wall Street woke up Monday morning, two more of its storied firms had fallen. More»

ExxonMobil profit hits record on oil surge
AFP - Wed Jul 30, 2008
NEW YORK - Surging oil prices helped US energy giant ExxonMobil to a 14 percent jump in quarterly net profit to 11.68 billion dollars in results Thursday short of most forecasts on Wall Street. More»

Bank of America A Credit Card You Want to Toss
Business Week - Tue Feb 12, 2008
Credit-card issuers have drawn fire for jacking up interest rates on cardholders who arent behind on payments, but whose credit score has fallen for another reason. More»

Record wheat price ignites food inflation fears
Pioneer Press - Sat Feb 9, 2008
The highest wheat price in US history - more than $15 a bushel - was reached Thursday in Minneapolis as a trading frenzy inflames the grain markets, fans fears of spiking food costs and revives worries about food shortages. More»

Fed survey: banks tightening credit
Associated Press - Sun Feb 3, 2008
Many US banks have made it harder for creditworthy borrowers to get a mortgage, according to a Federal Reserve survey released Monday that underscored the spread of a painful credit crunch. More»

Exxon Mobil posts record profits
Associated Press - Thu Jan 31, 2008
Exxon Mobil Corporation on Friday posted the largest annual profit by a US company - over $40 billion - as the worlds biggest publicly traded oil company benefited from historic crude prices at years end. More»

US moves to avert economic meltdown
Associated Press - Mon Jan 21, 2008
Jolted by global recession fears, the Federal Reserve slashed interest rates Tuesday, and President Bush and leaders of Congress joined in a rare show of cooperation in promising urgent action to pump up the economy with upwards of $150 billion in tax cuts and government spending. More»

Monsanto 1Q profit nearly triples
Associated Press - Thu Jan 3, 2008
Monsanto Company reported Thursday that its first-quarter earnings nearly tripled because of surprisingly strong herbicide and seed sales in Latin America. More»

Court to consider investor's 401(k) suit
Associated Press - Sat Nov 24, 2007
James LaRue says he lost $150,000 when his instructions to his employer on where to invest money in his retirement plan were ignored. More»

Minnesota law sheds light on drug companies
Associated Press - Mon Aug 20, 2007
Saint Paul, Minnesota - A groundbreaking Minnesota law is shining a rare light into the big money that drug companies spend on members of state advisory panels who help select which drugs are used in Medicaid programs for the poor and disabled. More»

HomeBanc Mortgage Co Bouncing Checks Across Metro Atlanta
Associated Press - Tue Aug 14, 2007
ATLANTA - Dozens of Georgia real-estate lawyers are left holding millions of dollars worth of bad checks by HomeBancs sudden exit from the mortgage lending business. More»

US mortgage crisis goes into meltdown
Telegraph.co.uk - Tue Feb 27, 2007
Panic has begun to sweep the sub-prime mortgage sector in the United States after the bankruptcy of 22 lenders over the past two months, setting off mass liquidation of housing loans packaged as securities. More»

State Farm: No new home policies in Mississippi
MSNBC - Tue Feb 13, 2007
State Farm Insurance is suspending sales of any new commercial or homeowner policies in Mississippi starting Friday, citing in part a wave of litigation it has faced since Hurricane Katrina, a company official said Wednesday. More»

Exxon Spends Millions to Cast Doubt on Global Warming
The Independent, UK - Wed Dec 6, 2006
The worlds largest energy company is still spending hundreds of thousands of dollars to fund European organisations that seek to cast doubt on the scientific consensus on global warming and undermine support for legislation to curb emission of greenhouse gases. More»

Disaster capitalism: how to make money out of misery
The Guardian UK - Tue Aug 29, 2006
The privatisation of aid after Katrina offers a glimpse of a terrifying future in which only the wealthy are saved. More»

Cisco pours investment into India
BBC - Tue Oct 18, 2005
Cisco Systems, the worlds biggest maker of internet equipment, plans to inject $1bn of investment into India over the next three years. More»

ChoicePoint Wins Big Brother Award
Wired - Sun Apr 17, 2005
A data broker that sold personal information to identity thieves, an elementary school that tried to track students with radio-frequency ID tags and a consulting firm that helped orchestrate an invasive traveler-monitoring system all received honors this week from privacy rights advocates. More»

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