Yahoo! News: Business
- Global stocks hit 5-1/2 year lows
(Reuters)
Reuters - A 6 percent fall in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell below $53 and safe havens such as the yen gained on fears the global recession and a financial crisis will get uglier. - Financials need at least $1 trillion: analyst
(Reuters)
Reuters - The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said. - Prospect for auto bailout dims as Senate races clock
(Reuters)
Reuters - Chances dimmed that a last-minute plan being crafted by Republican senators, with White House support, to provide $25 billion to bail out U.S. automakers would receive enough backing from Democrats to pass before the end of this week. - Fed minutes: may need more rate cuts if growth ebbs
(Reuters)
Reuters - Federal Reserve officials slashed economic growth forecasts through 2009 and some believed even deeper interest rate cuts may be needed if growth slows further, minutes of their October policy meeting show. - Weak Japan exports pile on economic gloom
(Reuters)
Reuters - Japan's exports to Asia fell in October for the first time since 2002, showing that the fallout from the credit crisis has spread to neighbors such as China and adding momentum to investors' flight to the safety of cash. - SEC puts off vote on rules for rating agencies
(AP)
AP - The Securities and Exchange Commission on Wednesday delayed a plan to adopt new rules aimed at stemming conflicts of interest in Wall Street's credit rating industry. - Homebuilder, REIT shares tumble as recession spreads
(Reuters)
Reuters - The shares of big U.S. homebuilders and real estate companies alike slumped on Wednesday as housing starts fell to a record low and concerns spread the commercial real estate market is going the way of residential. - Limited Brands posts lower net profit, shaves view
(Reuters)
Reuters - Limited Brands , the retailer whose main chains are Victoria's Secret and Bath and Body Works, posted lower net profit on Wednesday and trimmed its full-year earnings outlook.