ATLANTA, Nov. 12, 2008 (Reuters) — Best Buy Co Inc , the No. 1 U.S. electronics chain, slashed its profit forecast on Wednesday, the latest sign that the deepening economic crisis may bring a bleak holiday season, sending the company's shares down 7 percent. ... > full story
NEW YORK, Nov. 12, 2008 (Reuters) — Macy's Inc reported a quarterly loss on Wednesday as shoppers curbed trips to the mall and avoided all but the most crucial of purchases as the economic crisis deepens, but the department store operator beat Wall Street estimates, sending its shares up 3 percent. ... > full story
NEW YORK, Nov. 12, 2008 (Reuters) — Shares of Dow component General Motors surged in premarket trade on Wednesday as investors bet that a government bailout was increasingly likely. ... > full story
LONDON, Nov. 12, 2008 (Reuters) — The British economy will shrink sharply next year and inflation will tumble, the Bank of England predicted on Wednesday, suggesting that it will cut interest rates even below their current half-century low. ... > full story
Nov. 12, 2008 (Reuters) — The Federal Reserve is in discussions with other regulators to become the lead regulator for clearing trades in the $33 trillion credit default swaps (CDS) market, news service Bloomberg said, citing people with knowledge of the proposal. ... > full story
Nov. 12, 2008 (Reuters) — American Express Co , the No. 4 U.S. credit card issuer, is seeking about $3.5 billion in tax-payer funded capital from the U.S. government, the Wall Street Journal said, citing people familiar with the situation. ... > full story
Nov. 12, 2008 (Reuters) — Fannie Mae , once a mortgage giant, could post losses totaling $20 billion to $40 billion in the next four quarters, as elevated credit costs continue to hurt the company's capital position, an analyst at FBR Capital Markets said. ... > full story
LONDON, Nov. 12, 2008 (Reuters) — Merrill Lynch and Bank of America on Wednesday named Merrill's Andrea Orcel as head of international investment and private banking at the combined company, according to an internal memo. ... > full story
ZURICH/AMSTERDAM, Nov. 12, 2008 (Reuters) — Swiss Life warned on profits and cut its dividend, while Dutch financial group ING posted its first quarterly loss, as the financial crisis bites into insurers' investment income and premiums. ... > full story
AMSTERDAM, Nov. 12, 2008 (Reuters) — Dutch financial group ING posted its first-ever quarterly loss on Wednesday as impairments on stocks and bonds, counterparty losses and property writedowns ate into its income. ... > full story
Copyright Reuters 2008. See Restrictions for more details.
Macy's swings to $44 million loss in 3rd quarter Nov. 12, 2008 (WSB-AM 750, Atlanta) — Department store operator Macy's Inc. says its third-quarter results swung to a loss as results were weighed down by charges related to a ...
Subscribe
Print
Email
Bookmark
