Archive for November 12th, 2008
Dimon: Recession will be worse than meltdown
Read full story for latest details.
T.V. shopping network slashing jobs
Read full story for latest details.
Consumer debt gets bailout attention
Treasury Secretary Henry Paulson said Wednesday that the government would broaden the reach of its $700 billion bailout plan to support non-bank financial institutions that provide consumer credit, such as credit cards and auto loans.
Regulators reject credit card debt forgiveness
Read full story for latest details.
Morgan Stanley unveils big staff cut
Read full story for latest details.
Intel cuts sales projections
Read full story for latest details.
Dollar hits 6-year high against pound
The dollar soared to a 6-year high against the British pound Wednesday on concern that the Bank of England may make aggressive cuts to a key interest rate to combat a deepening recession.
U.S. to back GE Capital debt
GE Capital, the financing arm of conglomerate General Electric, is eligible for government backing of $139 billion of its debt, a company spokesman said Wednesday.
Hedge funds lose $100 billion in assets
Read full story for latest details.
Dow sinks 660 points in 3 days
Stocks fell Wednesday for the third session in a row, with the Dow industrials tumbling over 400 points, as investors bet that a long and deep recession is on the horizon.
