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Paulson considering mortgage change
Sep 19 2007 11:59PM (CT)
WASHINGTON (AP) - Shifting course, Treasury Secretary Henry Paulson planned to tell Congress that the Bush administration would consider allowing the big mortgage companies Fannie Mae and Freddie Mac to temporarily buy, bundle and sell as securities loans exceeding $417,000.
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Health costs are key to GM-UAW talks
Sep 19 2007 11:52PM (CT)
DETROIT (AP) - The United Auto Workers would become one of the nation's largest consumers of health care if it takes over retiree obligations from Detroit's automakers, a huge responsibility that would test the union's ability to control rising health care costs.
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Oil prices slip below $82 a barrel
Sep 19 2007 11:44PM (CT)
SINGAPORE (AP) - Oil prices dipped on profit-taking Thursday after reaching record highs in the previous session on U.S. refinery outages and declines in U.S. oil inventories.
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Trade group: Holiday sales to grow slow
Sep 19 2007 11:05PM (CT)
NEW YORK (AP) - Holiday sales are expected to grow at the slowest pace in five years as shoppers fret about jobs, tight credit and slumping home prices, according to a forecast from the world's largest retail trade group.
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Zillow secures $30M in financing
Sep 19 2007 11:04PM (CT)
SEATTLE (AP) - Real estate information startup Zillow Inc. said late Wednesday it closed a $30 million round of financing. Legg Mason Capital Management, a Baltimore-based global asset management group known for its mutual funds, led the round. In all, the operators of Zillow.com have raised $87 million since 2005.
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Home Depot to shut 11 landscape stores
Sep 19 2007 9:38PM (CT)
ATLANTA (AP) - The Home Depot Inc., the world's largest home improvement store chain, plans to close its 11 Landscape Supply stores within the next two months, a company official said Wednesday.
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Morgan Stanley 3Q profit tumbles 17 pct.
Sep 19 2007 7:53PM (CT)
NEW YORK (AP) - Morgan Stanley on Wednesday said third-quarter profit sank 17 percent, as the No. 2 U.S. investment bank was forced to write down nearly $1 billion worth of loans amid the summer's global credit crisis.
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Morgan Stanley 3Q profit tumbles 17 pct.
Sep 19 2007 7:53PM (CT)
NEW YORK (AP) - Morgan Stanley on Wednesday said third-quarter profit sank 17 percent, as the No. 2 U.S. investment bank was forced to write down nearly $1 billion worth of loans amid the summer's global credit crisis.
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Law firm says partner to be indicted
Sep 19 2007 7:34PM (CT)
LOS ANGELES (AP) - A New York law firm accused of paying kickbacks to plaintiffs in class-action and shareholder lawsuits said Wednesday that one of its partners will be indicted and more charges will be filed against the firm.
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Topps shareholders OK $384.4M takeover
Sep 19 2007 5:46PM (CT)
NEW YORK (AP) - The Topps Co.'s shareholders approved a $385.4 million private equity takeover of the baseball card and Ring Pop candy maker, the company said Wednesday, defeating activist investors who had said the price was too low.
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Economist predicts housing downturn
Sep 19 2007 5:43PM (CT)
WASHINGTON (AP) - An economist who has long predicted this decade's housing market bubble would deflate said the residential real estate downturn could spiral into "the most severe since the Great Depression" and could lead to a recession.
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General Mills 1Q profit rises 8 percent
Sep 19 2007 5:40PM (CT)
MINNEAPOLIS (AP) - Charging more for Cheerios and Lucky Charms and Yoplait yogurt helped General Mills report an 8 percent increase in its first-quarter profit on Wednesday. The foodmaker said more price increases might be on the way if ingredient and fuel prices keep rising.
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Paulson: U.S. to hit debt limit Oct. 1
Sep 19 2007 5:30PM (CT)
WASHINGTON (AP) - Treasury Secretary Henry Paulson told Congress on Wednesday the government will hit the current debt ceiling on Oct. 1. He sought quick action to increase the limit, saying it was essential to protect the "full faith and credit" of the country, especially at a time of financial market turmoil.
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Consumer prices, housing drop
Sep 19 2007 5:28PM (CT)
WASHINGTON (AP) - Consumer prices posted a rare decline in August while the battered housing industry saw construction fall to the slowest pace in 12 years.
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Market Spotlight: Online Music
Sep 19 2007 3:55PM (CT)
NEW YORK (AP) - If you've tried to buy digital music online lately, you may have noticed your options have blossomed, seemingly overnight.
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Market Spotlight: Online Music
Sep 19 2007 3:55PM (CT)
NEW YORK (AP) - If you've tried to buy digital music online lately, you may have noticed your options have blossomed, seemingly overnight.
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Gold, oil prices rise after Fed rate cut
Sep 19 2007 3:50PM (CT)
NEW YORK (AP) - Metals and energy prices built on their upward momentum Wednesday, extending a rally in response to the Federal Reserve's half-point interest rate cut that lifted expectations for economic growth.
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Asian, European stocks rise on rate cut
Sep 19 2007 12:44PM (CT)
LONDON (AP) - European and Asian stock markets rallied Wednesday in the wake of Wall Street's surge spurred by the U.S. Federal Reserve's larger-than-expected interest rate cut.
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Treasuries shed strength after rate cut
Sep 19 2007 12:05PM (CT)
NEW YORK (AP) - Treasurys extended their declines Wednesday as Wall Street again basked in the afterglow of the Federal Reserve's hefty interest rate cut.
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Investors hunt for effects of rate cut
Sep 19 2007 10:36AM (CT)
NEW YORK (AP) - A big rate cut by the Federal Reserve and the stock market's huge rally in response to that move has many on Wall Street wondering: Now what?
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Asian, European stocks rise on rate cut
Sep 19 2007 10:12AM (CT)
LONDON (AP) - European and Asian stock markets rallied Wednesday in the wake of Wall Street's surge spurred by the U.S. Federal Reserve's larger-than-expected interest rate cut.
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Rate cut may provide only passing relief
Sep 19 2007 9:31AM (CT)
WASHINGTON (AP) - Like the tides, the wave of good feelings that swept over Wall Street and Main Street with the Federal Reserve's big rate cut could ebb just as quickly.
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Euro hits new high against dollar
Sep 19 2007 3:59AM (CT)
FRANKFURT, Germany (AP) - The euro continued to soar against the U.S. dollar on Wednesday, reaching its all-time high in the aftermath of a half-percent rate cut by the U.S. central bank.
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Changes sought in olive oil labeling
Sep 19 2007 3:44AM (CT)
MARTINEZ, Calif. (AP) - This fall, Tom Powers will harvest his olives and press them into oil _ Alhambra Valley authentic extra virgin olive oil with a distinctive peppery finish.
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Changes sought in olive oil labeling
Sep 19 2007 3:44AM (CT)
MARTINEZ, Calif. (AP) - This fall, Tom Powers will harvest his olives and press them into oil _ Alhambra Valley authentic extra virgin olive oil with a distinctive peppery finish.
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