Money News
- Investors seeking a bottom brace for more uncertainty as government moves to shore up banks
- Investors agonizing over whether the stock market is bottoming out or about to extend its precipitous decline face more uncertainty this week as they await action on the government's rapidly expanding effort to pull the financial system from the brink.
- Bush administration weighs plan for government to take temporary ownership stakes in banks
- Treasury Secretary Henry Paulson told international leaders on Sunday that isolationism and protectionism could worsen the spreading financial crisis. With a new trading week dawning, U.S. lawmakers urged quick action by the Bush administration on measures to make direct purchases of bank stock to help unlock lending.
- Oil prices rebound to above $80 on expectation European bank rescue plan may boost confidence
- Oil prices rebounded from a 13-month low to rise above US$80 a barrel Monday in Asia on expectations that a pledge by European countries to keep banks from collapsing may stabilize a tumultuous global financial system.
- Nations in Europe's single-currency zone to guarantee refinancing of banks to spur lending
- Nations in Europe's single-currency zone agreed Sunday to temporarily guarantee bank refinancing and pledged to prevent banks failing as part of a raft of emergency measures designed to get credit flowing again.
- Newspapers miss debt obligations, but sale or closure unlikely because that won't help lenders
- Newspaper companies have been skipping loan payments, missing financial targets in debt agreements and accepting higher interest rates in exchange for more flexibility - and they're not even directly feeling the impact of the credit crisis yet.
- Details about some newspaper companies renegotiating debt agreements with lenders
- Newspaper companies renegotiating debt agreements with lenders:
- As easy credit dries up, a nation reliant on debt navigates a new financial landscape
- An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a new set of wheels.
- Ithaca wants to be America's 1st podcar city; advocates say it's time for transport transition
- The thought of a driverless, computer-guided car transporting people where they want to go on demand is a futuristic notion to some.
- Some key points of financial crisis plan by nations in Europe's single-currency zone
- European leaders agreed to several measures - German Chancellor Angela Merkel called them a "tool kit" - that governments will be able to use to shore up financial institutions and stop banks' financing problems from contaminating the wider economy. A few highlights:
- Investors agonize during last hour of trading after week of staggering declines
- The chaotic hour before Wall Street's closing bell has never been for the faint of heart. These days, it's been absolutely brutal.