AP - The Securities and Exchange Commission on Wednesday delayed a plan to adopt new rules aimed at stemming conflicts of interest in Wall Street's credit rating industry.
Read more »SEC puts off vote on rules for rating agencies (AP)
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Global stocks hit 5-1/2 year lows (Reuters)
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Reuters - A rout in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell to below $53 a barrel and safe havens such as the yen gained as economic data indicated a global recession could get even uglier.
Read more »Yahoo, T-Mobile announce mobile search deal (Reuters)
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Reuters - Yahoo Inc announced an expansion of its mobile Web portals to T-mobile, so its smart phone users who get data will have Yahoo search by default.
Read more »U.S. auto execs testify as legislators try for deal (Reuters)
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Reuters - U.S. auto executives went to Capitol Hill on Wednesday for a second day to plead for $25 billion in government aid, but legislators tried to fashion a last-minute compromise bailout bill that could pass both Congressional and White House muster.
Read more »Wall Street sinks to lowest since 2003 (Reuters)
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Reuters - Stocks plunged to their lowest in five-and-a-half years on Wednesday as investors girded for a lengthy economic downturn and automotive executives predicted a far-reaching calamity without a government lifeline.
Read more »U.S. probing Golden West lending, sale: prosecutor (Reuters)
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Reuters - The government is investigating if homeowners were misled by California bank and mortgage issuer Golden West Financial, which was acquired by Wachovia Corp -- another possible victim.
Read more »Shares of Buffett's Berkshire Hathaway fall more than 12 percent (Reuters)
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Reuters - Class A shares of Warren Buffett's Berkshire Hathaway Inc (BRKa.N) fell more than 12 percent on Wednesday to below $84,000, a 3-year low.
Read more »Homebuilder, REIT shares tumble as recession spreads (Reuters)
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Reuters - The shares of big U.S. homebuilders and real estate companies alike slumped on Wednesday as housing starts fell to a record low and concerns spread the commercial real estate market is going the way of residential.
Read more »Fed minutes: May need more rate cuts if growth ebbs (Reuters)
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Reuters - Federal Reserve officials slashed economic growth forecasts through 2009 and some believed even deeper interest rate cuts may be needed if growth slows further, minutes of their October policy meeting show.
Read more »US inflation plunges, world crisis hits carmakers (AFP)
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AFP - Automakers worldwide warned of more perils from the global economic meltdown as the latest US data on Wednesday added to growing fears of huge job losses and a long, painful recession ahead.
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