Archive for December, 2008
GM gets $4B loan, Chrysler waits
General Motors got the first $4 billion of a series of emergency loans from the U.S. Treasury Wednesday, but fellow struggling automaker Chrysler was still waiting as the new year rapidly approached.
Treasury answers bailout critics
In the face of criticism that its bailout efforts are not working, federal officials said Wednesday that they have prevented widespread failure of financial institutions, but they conceded that the credit crisis won’t ease until the economy recovers.
GMAC gets help from $21.2B debt swap
Auto finance company GMAC on Wednesday announced the results of a vote that the company said would help it become better capitalized and viable for the future.
Wall Street: Bring on ‘09
Stocks rallied Wednesday, as investors welcomed the end of an abysmal year on Wall Street and looked forward to a better year ahead.
Oil out with a bang with 14% spike
The price of oil jumped Wednesday, capping a volatile year with a swing of $7 from the session low to the close, as investors responded to news of a possible supply disruption in Europe.
S&P 500: The lucky 25
As one of the worst years in Wall Street’s history winds down, a notable group of standouts shows investors remained confident in companies that provided consumers with the most bang for their buck.
Citi execs forgo bonus
After a shockingly tumultuous year, Citigroup said Wednesday that its top executives will forgo their usual annual bonus.
Users of Zune MP3 players report glitch
Baffled consumers are griping about a mysterious glitch that appeared to cause thousands of Zune MP3 music players to simultaneously stop working late Tuesday and early Wednesday.
Credit 2008: Year of the freeze
If the story of 2008 was the government’s unprecedented multi-trillion dollar bailouts of the financial sector, then the credit market was the story behind the story.
Viacom, Time Warner dispute over fees
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