Reuters - The U.S. economy continued its run of record-breaking dismal data Tuesday, with consumer confidence and home prices registering a pair of grim milestones.
Read more »Consumer confidence and home prices hit grim records (Reuters)
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GMAC plans to release results of debt swap soon (Reuters)
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Reuters - GMAC LLC expects to soon announce the results of a debt exchange offer that is key to North America's largest auto finance company's capital levels, a spokeswoman said on Sunday.
Read more »Bankruptcy judge approves Circuit City financing (AP)
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AP - Circuit City Stores Inc. on Monday received final approval for $1.1 billion in financing to keep operating while the nation's second-biggest electronics retailer is in Chapter 11 bankruptcy protection.
Read more »Fed updates $200B consumer loan program (AP)
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AP - The Federal Reserve on Friday said a new program aimed at bolstering the availability of consumer loans will require companies to put up collateral to participate, but will offer longer terms on loans that are approved.
Read more »Goldman Far Outperforms Morgan Stanley in 2008 - Moody's
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It hasn’t been a good week for investment banks turned bank holding companies Goldman Sachs Group (NYSE:GS) and Morgan Stanley (NYSE:MS).
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2 weeks 3 days ago – Made popular 2 weeks 2 days ago
Category: General Finance Tags:
Category: General Finance Tags:
Alan Greenspan, Perennial Optimist
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Alan Greenspan has a solution to the economic crisis: a rising stock market!
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2 weeks 4 days ago – Made popular 2 weeks 3 days ago
Category: General Finance Tags:
Category: General Finance Tags:
Meltdown 101: Pros and cons of employee buyouts (AP)
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AP - When Best Buy Co. Inc. announced Tuesday it would offer buyout packages to about 4,000 employees, the retailer joined a long parade of companies trying to trim their work forces without resorting to outright layoffs.
Read more »North Asian leaders team up to fight crisis (Reuters)
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Reuters - Asian powers Japan, China and South Korea put aside decades of animosity on Saturday and agreed to work together to tackle the global financial crisis battering their economies.
Read more »Global interest rate cuts to spearhead crisis fightback (Reuters)
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Reuters - Thailand led a global charge to cut interest rates on Wednesday, with countries from Europe to New Zealand expected to follow in the next few days to fight an unrelenting financial crisis.
Read more »Goldman Said Likely To Lose Billions
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The Wall Street Journal reports that 'industry insiders' are now expecting Goldman Sachs to post a fourth-quarter loss of as much as $2bn. And analysts are now saying that the firm is likely to take writedowns on real-estate and leveraged loan assets, as well as its stake in the Commercial Bank of China, which fell around 28% during Goldman's fiscal-fourth quarter.
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