Paulson endorses bank stock purchase plan
Treasury Secretary Henry Paulson said Friday that the Bush administration will move ahead with a plan to buy stock in financial institutions.
People:Henry Paulson Activities:2008 U.S. Financial Rescue Source:(AP)
2008-10-10
Stocks end worst week mixed after wild session
Wall Street capped one of its worst weeks ever with a wild session Friday that saw the Dow Jones industrials gyrate within a 1,000 point range before closing with a relatively mild loss and the Nasdaq composite index actually ending with a modest advance. Investors were still agonizing over frozen credit markets, but seven days of massive losses and the possibility of further government support for the markets tempted some investors late in the session.
Nations:Japan Russia France Activities:2007 Global Credit Crunch U.S. Markets
2008-10-10
Obama accuses McCain of trying to divide Americans
Presidential candidate Barack Obama on Friday accused Republican John McCain of trying to divide the country, but he let fellow Democrats handle harsher attacks while he kept his message mostly upbeat.
Nations:U.S. People:Barack Obama John McCain Activities:US Election 2008 Source:(AP)
2008-10-10
Former Finnish president wins Nobel Peace Prize
Finland's ex-president Martti Ahtisaari received the Nobel Peace Prize on Friday for his efforts to build a lasting peace from Africa and Asia to Europe and the Middle East.
Nations:Finland Namibia Sweden Tanzania South Africa People:Al Gore Source:(AP)
2008-10-10
Sources: US nears removing NKorea from terror list
The Bush administration is nearing a decision to remove North Korea from a terrorism blacklist and may do so as early as Friday in a bid to salvage faltering nuclear disarmament talks, The Associated Press has learned.
Nations:South Korea North Korea People:Christopher Hill Activities:Korea Nuclear Crisis North Korea-U.S. Source:(AP)
2008-10-10
GM shares tumble 31 percent to 58-year low
Shares of General Motors Corp. lost nearly one-third of their value Thursday, plunging to their lowest level in more than 58 years after Standard & Poor's said the automaker's credit could fall further into junk status due to the "rapidly weakening state" of the global automotive market.
Nations:U.S. Activities:2008 Automakers Downturn Source:(AP)
2008-10-09
Wells Fargo plans to buy Wachovia; Citi ends talks
Wells Fargo emerged as the apparent victor in the battle for control of Wachovia Thursday night, after rival suitor Citigroup broke off talks with Wells Fargo and federal regulators but vowed to have its day in court.
Nations:U.S. Activities:2008 Wachovia Deal
2008-10-09
White House considers ownership stakes in banks
The Bush administration is considering taking ownership stakes in certain U.S. banks as an option for dealing with a severe global credit crisis.
People:Henry Paulson Barack Obama Charles Schumer John McCain Activities:2008 U.S. Financial Rescue Bush Admin.
2008-10-09
Fed slashes interest rates, but stocks lose again
Wall Street bounced higher and lower Wednesday trying to make up its mind about an unprecedented coordinated interest rate cut by central banks around the world. In the end it settled on a familiar feeling -- fear -- and plunged again.
Nations:Switzerland Germany Sweden France Canada People:Gordon Brown Henry Paulson Ben Bernanke Barack Obama Charles Schumer John McCain Activities:U.S. Markets
2008-10-08
Fed, central banks cut rates to aid world economy
In a rare coordinated move, the Federal Reserve and other major central banks from around the world slashed interest rates Wednesday to prevent a mushrooming financial crisis from becoming a global economic meltdown.
Nations:Switzerland Germany Sweden Japan France Canada People:Ben Bernanke Barack Obama John McCain Activities:2007 Global Credit Crunch
2008-10-08
McCain, Obama trade barbs in town hall debate
John McCain dismissively called rival Barack Obama "that one," Obama mocked McCain's "Straight Talk Express," and both left the debate stage to return to the campaign trail Wednesday.
Nations:Afghanistan North Korea Pakistan Russia People:Sarah Palin Barack Obama John McCain Tom Brokaw Activities:US Election 2008 Source:(AP)
2008-10-08
Fed orders emergency rate cut to 1.5 percent
The Federal Reserve, acting in coordination with other global central banking authorities, cut a key U.S. interest rate by half a percentage point Wednesday to steady an economy teetering on a collapse reminiscent of the 1929 stock market crash.
People:Ben Bernanke Activities:2007 Global Credit Crunch
2008-10-08
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