News items from Yahoo! News:
Wall Street sinks to lowest since 2003
(Reuters)
Wed, 19 Nov 2008 21:44:53 GMT
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.
Fed minutes: may need more rate cuts if growth ebbs
(Reuters)
Wed, 19 Nov 2008 20:46:19 GMT
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.
Auto execs testify as legislators try for deal
(Reuters)
Wed, 19 Nov 2008 21:32:41 GMT
Reuters - U.S. auto executives went to Capitol Hill for a second day on Wednesday to argue their case for $25 billion in aid as legislators proposed changes to help a bailout pass Congressional and White House muster.
Microsoft rules out buying Yahoo but likes search deal
(Reuters)
Wed, 19 Nov 2008 19:01:32 GMT
Reuters - Microsoft Corp Chief Executive Steve Ballmer ruled out an acquisition of Yahoo Inc on Wednesday but said his company was interested in resuming talks on a Web search partnership.
Shares of Buffett's Berkshire Hathaway fall more than 12 percent
(Reuters)
Wed, 19 Nov 2008 21:15:09 GMT
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.
SEC delays action on credit rating agency rules
(Reuters)
Wed, 19 Nov 2008 15:49:02 GMT
Reuters - U.S. securities regulators on Wednesday delayed action on adopting stricter rules to rein in the credit rating agencies until December 3.
Homebuilder, REIT shares tumble as recession spreads
(Reuters)
Wed, 19 Nov 2008 18:02:20 GMT
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.
Retail shares drop sharply as market woes linger
(AP)
Wed, 19 Nov 2008 22:46:15 GMT
AP - With Black Friday just around the corner, two new forecasts Wednesday pointed toward a tough holiday season for retailers and offered evidence that consumers simply may not be in a spending mood.
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