Reuters - Citigroup Inc said it won a court order late on Saturday blocking Wells Fargo & Co. from buying hobbled U.S. bank Wachovia Corp until the court rules otherwise. -- read full article
Sun, 05 Oct 2008 07:08:52 GMT - Yahoo! News: Business
Reuters - European leaders vowed after crisis talks on Saturday to do all they could to fend off the financial mayhem that has snowballed out of Wall Street and is now hitting banks in Europe.
AFP - London shares closed up sharply on Friday as investors pinned their hopes on the revival of a 700-billion-dollar rescue package which goes to the vote in the US House of Representatives tonight.
Reuters - NEW YORK (Reuters) -Wall Street ended its worst week in seven years with another tumble on Friday on fears that the $700 billion financial rescue package may not unblock credit markets and stave off a U.S. recession.
Reuters - Unsecured creditors of Lehman Brothers Holdings Inc asked a court overseeing Lehman's bankruptcy proceedings for permission to investigate how the firm ran out of money, The Wall Street Journal reported on its website on Friday.
Reuters - American International Group Inc, plans to sell its three Japanese life insurance businesses, an AIG spokesman said on Saturday, in sale Japanese media estimated could top $9.5 billion.
Reuters - Wells Fargo & Co agreed to buy Wachovia Corp for about $15 billion, upstaging a government-backed Citigroup Inc bid for Wachovia's banking assets with a deal that would catapult it into the top ranks of national consumer banking.
Reuters - The U.S. government enacted a landmark $700 billion bank bailout on Friday, but investors questioned whether it could contain a panic that began on Wall Street and spread to become a global financial crisis.
Reuters - Family Dollar Stores Inc posted a higher-than-expected quarterly profit on Friday, helped by shoppers who spent tax rebate checks at the discount retailer and by closely controlling costs. -- read full article
Fri, 03 Oct 2008 12:01:14 GMT - Yahoo! News: Business
AP - Toyota Motor Corp. has announced zero-percent financing on 11 models as it tries to woo would-be buyers sidelined by the consumer credit crunch. -- read full article
Fri, 03 Oct 2008 10:59:42 GMT - Yahoo! News: Business
Reuters - Shares of Citigroup fell 8 percent to $20.69 in pre-market trade after a merger deal was announced between Wachovia Corp and Wells Fargo & Co .
Reuters - The sluggish service sector was barely growing in September as the country's worst financial crisis since the Great Depression reached new heights, according to a report released on Friday.
Reuters - U.S. employers cut 159,000 jobs last month, a ninth straight monthly reduction and the deepest in 5-1/2 years, the government said in a report on Friday that suggested the economy may be in recession.
Reuters - Stocks fell, shedding earlier gains on Friday, as concerns about the economy overshadowed the U.S. House of Representatives' approval of the Bush administration's $700 billion financial rescue package.
Reuters - The House of Representatives approved a $700 billion bailout package for U.S. banks, under pressure from all sides as the effort to head off a spreading financial crisis hung in the balance.
