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    Business Headlines
    Lehman debt protection costs jump as shares dive (Reuters)
    Reuters - The cost to insure Lehman Brothers debt against default surged on Friday, as its stock price plunged for the second day. -- read full article
    Fri, 11 Jul 2008 14:27:07 GMT - Yahoo! News: Business
    GE profit meets expectations; outlook steady (Reuters)
    Reuters - General Electric Co on Friday posted a second-quarter profit in line with Wall Street forecasts as its finance business recovered from a brutal first quarter, but the company warned those operations are not out of the woods yet. -- read full article
    Fri, 11 Jul 2008 14:30:48 GMT - Yahoo! News: Business
    Stocks sink on credit worries, oil (Reuters)

    Traders work in the Oil Futures pit at the New York Mercantile Exchange in New York, June 11 2008. Oil leapt $5 to a record high above $147 a barrel on Friday amid growing worries of threats to supplies from Iran and Nigeria and a strike by Brazilian oil workers next week. REUTERS/Brendan McDermid (UNITED STATES)Reuters - Stocks fell sharply on Friday on worry about the financial stability of the top two home financing providers Freddie Mac and Fannie Mae, while oil prices hit an all-time high, clouding the outlook for the economy.


    -- read full article
    Fri, 11 Jul 2008 18:32:22 GMT - Yahoo! News: Business
    Freddie Mac, Fannie Mae cut losses on Dodd comments (Reuters)
    Reuters - Shares of Freddie Mac briefly turned positive on Friday and those of Fannie Mae sharply pared their losses after Sen. Christopher Dodd, chairman of the Senate Banking Committee, said the two government-sponsored mortgage giants were fundamentally sound. -- read full article
    Fri, 11 Jul 2008 18:29:19 GMT - Yahoo! News: Business
    No imminent government bailout for Fannie, Freddie (Reuters)
    Reuters - Fear spread on Friday that the U.S. housing crisis would drag down the nation's major mortgage finance agencies, and the government offered no hint that it would swiftly step in to help. -- read full article
    Fri, 11 Jul 2008 16:56:57 GMT - Yahoo! News: Business
    Department stores lead sales declines among retailers (Reuters)
    Reuters - Department stores posted disappointing June same-store sales results on Thursday, hurt by slow mall traffic and consumers looking to cut discretionary purchases, and shares of the companies fell. -- read full article
    Thu, 10 Jul 2008 22:06:38 GMT - Yahoo! News: Business
    Fears rise on trillion-dollar trouble for Fannie Mae and Freddie Mac (AFP)

    An exterior view of mortgage finance giant Fannie Mae is seen in 2006 in Washington, DC. Treasury Secretary Henry Paulson said Thursday that US mortgage finance giants Fannie Mae and Freddie Mac are AFP - US mortgage giants Fannie Mae and Freddie Mac are facing growing pressure as fears intensify about a potential calamity at the firms, which underpin trillions of dollars in home loans.


    -- read full article
    Fri, 11 Jul 2008 01:55:34 GMT - Yahoo! News: Business
    Economy - Thursday (Investor's Business Daily)
    Investor's Business Daily - The Blue Chip Economic Indicators survey found that 55% of economists polled say the U.S. will enter into a recession this year or already has due to higher energy prices, a weakening labor market and falling stock prices. That's up from 47% in the prior month. Respondents raised their Q2 GDP growth estimates to 1.2% from 0.4% due to tax rebate checks. But the outlook has worsened. Rising inflation risks will spur the Fed to hike rates, perhaps this fall, the survey found. -- read full article
    Thu, 10 Jul 2008 22:37:50 GMT - Yahoo! News: Business
    Stocks rise on Dow Chemical deal, Bernanke (Reuters)

    Traders work on the floor of the New York Stock Exchange, July 8, 2008. (Brendan McDermid/Reuters)Reuters - Stocks rose on Thursday, helped by optimism about a major deal in the chemicals sector and after the Federal Reserve chairman said the central bank and the government are focused on stabilizing the financial system.


    -- read full article
    Thu, 10 Jul 2008 20:52:58 GMT - Yahoo! News: Business
    Lehman shares drop, Pimco says still trading (Reuters)
    Reuters - Lehman Brothers Holdings Inc shares tumbled to an eight-year low on Thursday as the investment bank was battered by rumors -- later discredited -- that some key counterparties had pulled business away from it. -- read full article
    Thu, 10 Jul 2008 23:07:27 GMT - Yahoo! News: Business
    Citi sells German business for $7.7 billion (Reuters)
    Reuters - Citi will sell its German retail business to France's Credit Mutuel for $7.7 billion, it said on Friday, part of a global reorganization of the U.S. bank. -- read full article
    Fri, 11 Jul 2008 08:02:41 GMT - Yahoo! News: Business
    InBev close to Anheuser-Busch deal: report (Reuters)
    Reuters - Anheuser-Busch is in active talks to sell itself to the Belgian brewer InBev NV in a friendly deal, the New York Times said on its website citing people briefed on the matter. -- read full article
    Fri, 11 Jul 2008 06:07:46 GMT - Yahoo! News: Business
    Government considers rescue of Fannie Mae, Freddie Mac: report (Reuters)
    Reuters - The U.S. government is considering taking over mortgage finance companies Fannie Mae and Freddie Mac if their funding problems worsen, in a plan that could leave shareholders nothing, the New York Times reported, citing people briefed on the matter. -- read full article
    Fri, 11 Jul 2008 07:45:35 GMT - Yahoo! News: Business
    Retailers avoid June swoon; tax rebates help (Reuters)
    Reuters - Summer weather, aggressive promotions and tax rebates sent many U.S. consumers shopping in June, giving retailers struggling in the weak economy their strongest month in more than a year. -- read full article
    Thu, 10 Jul 2008 16:55:03 GMT - Yahoo! News: Business
    Dow Chemical to buy Rohm and Haas for $15.3 bln (Reuters)
    Reuters - Dow Chemical Co said on Thursday it would buy rival Rohm and Haas Co for $15.3 billion in a move to broaden its product offerings in higher margin markets such as paints, coatings and electronic materials. -- read full article
    Thu, 10 Jul 2008 18:42:40 GMT - Yahoo! News: Business
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