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    Business Headlines
    Oil falls on U.S. inventory build, eyes bailout plan (Reuters)

    An oil rig in a file photo. (File/Reuters)Reuters - Oil fell on Wednesday as U.S. government data showed supplies rising and global markets awaited a U.S. Senate vote on the financial sector rescue package.


    -- read full article
    Wed, 01 Oct 2008 18:03:07 GMT - Yahoo! News: Business
    IBM posts biggest drop in 3 years on profit worry (Reuters)

    A view of an IBM facility outside Boulder, Colorado October 18, 2006. (Rick Wilking/Reuters)Reuters - IBM shares tumbled 6 percent on Wednesday, their biggest drop in three years, on concern the world's biggest computer services company's results missed Wall Street targets in the quarter that ended Sept 30.


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    Wed, 01 Oct 2008 18:26:09 GMT - Yahoo! News: Business
    France's Lagarde denies report of EU bank plan (Reuters)

    France's Economy Minister Christine Lagarde (R) speaks with the media as she leaves the Elysee Palace following the weekly cabinet meeting in Paris October 1, 2008. (Philippe Wojazer/Reuters)Reuters - French Economy Minister Christine Lagarde denied on Wednesday that France was planning a 300 billion euro ($424.4 billion) EU bank rescue package.


    -- read full article
    Wed, 01 Oct 2008 18:18:53 GMT - Yahoo! News: Business
    Europe scrambles for bailout as Senate vote looms (Reuters)

    A police officer patrols an empty hall on Capitol Hill, September 30, 2008. (Jim Young/Reuters)Reuters - A revised $700 billion U.S. financial bailout plan is significantly more likely to pass Congress, the White House said Wednesday, as European leaders scrambled to agree on their own bank rescue package.


    -- read full article
    Wed, 01 Oct 2008 18:45:08 GMT - Yahoo! News: Business
    Stocks fall on credit worry (Reuters)

    Traders work on the floor of the New York Stock Exchange, September 30, 2008. Stocks rose at the open on Tuesday, clawing back from Wall Street's worst slide in more than 20 years, as investors bet that Washington will work to revive a plan to stabilize the U.S. financial system. (Brendan McDermid/Reuters)Reuters - Stocks fell in choppy trading on Wednesday as tight credit markets and U.S. jobs weakness kept investors on edge before a Senate vote on a revamped rescue plan for the financial sector.


    -- read full article
    Wed, 01 Oct 2008 18:21:57 GMT - Yahoo! News: Business
    GM September sales fall 16 percent (Reuters)

    General Motors SUV's are displayed in an autosales lot in Troy, Michigan in this June 3, 2008 file photo. (Rebecca Cook/Files/Reuters)Reuters - General Motors Corp said on Wednesday that U.S. light vehicle sales fell 16 percent in September to 282,806 units, pressured by the sharp downturn in demand for light trucks.


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    Wed, 01 Oct 2008 18:16:14 GMT - Yahoo! News: Business
    In early holiday push, Wal-Mart cutting toy prices (Reuters)

    A worker brings carts back into a Walmart store in Westminster, Colorado August 14, 2008. (Rick Wilking/Reuters)Reuters - Wal-Mart Stores Inc is cutting prices on popular toys and ramping up the opening of Christmas shops in its U.S. stores as the retailer tries to win sales from cash-strapped shoppers ahead of what could be the worst holiday season in 17 years.


    -- read full article
    Wed, 01 Oct 2008 04:13:42 GMT - Yahoo! News: Business
    Bush approves $25 billion loan package for auto makers (Reuters)

    A new vehicle is seen on the assembly line at General Motors Corp's newly inaugurated plant in Talegaon, about 160 km (99 miles) northeast of Mumbai, September 2, 2008. (Punit Paranjpe/Reuters)Reuters - President George W. Bush on Tuesday signed into law a mammoth spending bill to keep the government running until early March 2009 that includes a $25 billion loan package for troubled automakers.


    -- read full article
    Wed, 01 Oct 2008 01:36:54 GMT - Yahoo! News: Business
    Stock Market Gyrations Don't Tell Extent of Problems (CQPolitics.com)
    CQPolitics.com - Monday's stunning drop in the major stock indexes could bolster the case for moving the financial bailout package. But on Tuesday, stocks recovered some of their losses, as bargain hunters looked for good deals. -- read full article
    Tue, 30 Sep 2008 22:52:17 GMT - Yahoo! News: Business
    SEC gives banks more leeway on mark-to-market (Reuters)

    Traders make sure their final trades are processed just after the closing bell on the floor of the New York Stock Exchange, September 30, 2008. (Brendan McDermid/Reuters)Reuters - U.S. securities regulators on Tuesday gave the financial industry a reprieve from marking hard-to-value assets down to fire sale prices, throwing a lifeline to an industry beset by strained credit markets and the latest round of bank failures.


    -- read full article
    Wed, 01 Oct 2008 00:30:13 GMT - Yahoo! News: Business
    Swiss to hand over UBS client data to U.S.: paper (Reuters)
    Reuters - Swiss authorities are expected to hand over confidential data on wealthy American clients of UBS to the U.S. Justice Department, the New York Times reported on Wednesday, citing people briefed on the matter. -- read full article
    Wed, 01 Oct 2008 07:59:20 GMT - Yahoo! News: Business
    Xstrata ditches Lonmin bid due to credit crunch (Reuters)
    Reuters - Miner Xstrata Plc dropped plans for a $10 billion takeover bid for No. 3 platinum producer Lonmin Plc on Wednesday due to financing difficulties linked to the global credit crunch, sending Lonmin's share price plummeting. -- read full article
    Wed, 01 Oct 2008 08:06:31 GMT - Yahoo! News: Business
    Revamped bailout faces new vote (Reuters)

    A foreign currency dealer reacts as he monitors a screen displaying exchange rates between the dollar and the Korean won at the Korea Exchange Bank (KEB) in Seoul October 1, 2008. The South Korean won gained against the dollar on Wednesday helped by revived hopes for U.S. financial sector bailout plans and after the vice finance minister warned of measures against the currency's sharp falls. (Jo Yong-Hak - SOUTH KOREA/Reuters)Reuters - A revamped financial rescue plan aimed at restoring market confidence faces a vote by the Senate late on Wednesday, reviving hopes that the lawmakers can turn the tide in the global banking crisis.


    -- read full article
    Wed, 01 Oct 2008 08:04:04 GMT - Yahoo! News: Business
    Consumers in gloomy mood on cusp of holiday season (AP)

    A shopper at a clothing shop in Miami, FL. Battered US consumer confidence edged higher in September for the third consecutive month, led by hopes for better economic times in the coming months, the Conference Board reported Tuesday.(AFP/Getty Images/File/Joe Raedle)AP - With the holiday shopping season about to start, consumer confidence is hovering near the lowest it's been since President Bush's father was commander in chief. It may dip more as Americans open their 401(k) statements and see how much they've lost in the last few weeks.


    -- read full article
    Tue, 30 Sep 2008 18:26:42 GMT - Yahoo! News: Business
    US, Europe markets higher on hopes US bailout deal will get done (AFP)

    A man speaks on the telephone at Frankfurt's stock exchange. US and European markets were higher Tuesday as investors hoped another vote on the US financial bailout package would see the plan passed and a start made on reining in the global turmoil.(AFP/DDP/Thomas Lohnes)AFP - US and European markets were higher Tuesday as investors hoped another vote on the US financial bailout package would see the plan passed and a start made on reining in the global turmoil.


    -- read full article
    Tue, 30 Sep 2008 17:54:51 GMT - Yahoo! News: Business
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