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Posted 2008-05-09
at 4:05 pm EDTAIG's loss and record oil sour mood on Wall St
NEW YORK, May 9, 2008 (Reuters) Stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Increported a massive loss. ... > full story -
Posted 2008-05-09
at 3:05 pm EDT
Oil hits record $126 on supply worry
NEW YORK, May 9, 2008 (Reuters) Oil jumped to a record above $126 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying. ... > full story -
Posted 2008-05-09
at 3:05 pm EDT
Citigroup aims to shed $400 billion of assets
NEW YORK, May 9, 2008 (Reuters) Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets. ... > full story -
Posted 2008-05-09
at 3:05 pm EDT
Countrywide falls on worry over B of A merger
NEW YORK, May 9, 2008 (Reuters) Countrywide Financial Corpshares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender. ... > full story -
Posted 2008-05-09
at 3:05 pm EDT
Mortgage credit losses could total $500 bln: Goldman
NEW YORK, May 9, 2008 (Reuters) Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy tightening in 2008 or 2009, according to a research note from the firm. ... > full story -
Posted 2008-05-09
at 2:05 pm EDTMicrosoft appeals against EU fine
BRUSSELS, May 9, 2008 (Reuters) Microsoftsaid on Friday it was appealing against a record 899 million euro ($1.39 billion) fine imposed by the European Commission for using high prices to discourage software competition. ... > full story -
Posted 2008-05-09
at 2:05 pm EDT
Sanofi hit by generic Plavix threat in Europe
LONDON, May 9, 2008 (Reuters) French drugmaker Sanofi-Aventis, which briefly encountered generic competition to its second-biggest product Plavix in the United States in 2006 and 2007, now faces a similar threat in Europe. ... > full story -
Posted 2008-05-09
at 2:05 pm EDT
AIG sees no signs of mortgage asset market rebound yet
NEW YORK, May 9, 2008 (Reuters) American International Group, after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters. ... > full story -
Posted 2008-05-09
at 2:05 pm EDT
March trade gap narrows on record import drop
WASHINGTON, May 9, 2008 (Reuters) A record drop in U.S. imports because of slowing domestic demand took a big bite out of the U.S. trade deficit in March despite record high oil prices. ... > full story -
Posted 2008-05-09
at 1:05 pm EDT
Circuit City to open its books to Blockbuster
ATLANTA, May 9, 2008 (Reuters) Circuit City Stores Incon Friday reversed course and said it would open its books to suitor Blockbuster Inc and the movie-rental company's largest shareholder, billionaire investor Carl Icahn. ... > full story
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