Money News Today
- Wall Street breaks 5-day win streak as stocks plunge; Dow down 680 in 4th-worst decline
- The stock market suffered one of its worst days since the financial meltdown Monday, slicing 680 points off the Dow Jones industrial average as Wall Street snapped out of its daydream of a rally and once again faced the harsh reality of a recession.
- Wheat, corn, soybeans lower on the Chicago Board of Trade; livestock futures trade mixed
- Agriculture futures were mostly lower Monday on the Chicago Board of Trade.
- Bernanke: lower rates are "feasible" but have limited economic benefit
- Federal Reserve Chairman Ben Bernanke said Monday that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive an economy likely to stay weak well into next year.
- Latam stocks fall on US recession news, reversing nearly a week of gains
- Latin American stocks fell sharply on Monday, dragged down by confirmation in the United States that the world's biggest economy has been in a recession.
- Detroit Three preparing cuts for Congress, but debt may be obstacle to federal loans
- They'll park some corporate jets, cut executive pay and serve up concessions from the United Auto Workers, but Ford Motor Co., General Motors Corp. and perhaps Chrysler LLC also will have to address massive debts to persuade a skeptical Congress to loan them money.
- Euro zone rejects slashing VAT below 15 pct, starts talking about economy stimulus plan
- Euro zone nations on Monday ruled out slashing sales tax to boost their economies but backed a wide euro200 billion ($252 billion) economic stimulus package that aims to boost growth.
- Analysts see busy online shopping day on 'Cyber Monday' but weak overall holiday still likely
- Retailers who saw Thanksgiving holiday sales drop off as the weekend progressed stepped up online promotions on the day known as "Cyber Monday" to try to get consumers tired of the crowds at stores to keep shopping.
- Ford considers selling Swedish car unit Volvo as it seeks to raise cash amid industry slump
- Ford Motor Co. is considering selling Volvo Car Corp. as the beleaguered U.S. automaker seeks to raise cash and weather a global automotive sales crisis.
- Miami activist illegally moves people into foreclosed homes - `liberating' properties, he says
- Max Rameau delivers his sales pitch like a pro. "All tile floor!" he says during a recent showing. "And the living room, wow! It has great blinds."
- Federal jury says Chevron blameless in violent Nigerian oil protest that left 2 dead
- A federal jury has cleared Chevron Corp. of responsibility for any human rights abuses during a violent protest on a company oil platform in Nigeria a decade ago.