NEW YORK (Reuters) - Shares of JPMorgan Chase & Co , Citigroup Inc and Bank of America Corp tumbled to multiyear lows on Wednesday on expectations that deteriorating credit conditions and a contracting economy will weigh heavily on the three largest U.S. banks.
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- 30 Libor dollar rates mixed, 3-mth inches higher again (at Reuters)
- 30 Pinhookers Panic: Horse Prices Fall 40%
- 30 Want A Huge Jet? US Airlines Unloading Dozens At Half Price
- 26 European stock index futures point to firmer start (at Reuters)
- 19 Banks, commods lead Europe shares down; BASF slides (at Reuters)
JPMorgan, Citigroup, BofA hit multiyear lows
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Ballmer dismisses Yahoo buyout but open on search (AP)
http://us.rd.yahoo.com –
Microsoft Corp. is no longer interested in buying all of Yahoo Inc., CEO Steve Ballmer said Wednesday, though he told shareholders that the company would still be "very open" to a collaboration on Internet search.
Read more »NY jury convicts opera-loving philanthropist
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NEW YORK -- Alberto Vilar, once a pillar of philanthropy for opera and cultural institutions worldwide, was convicted on fraud charges Wednesday for swindling investors including the mother of actress Phoebe Cates out of millions of dollars.
Read more »Shippers Crushed, Forced To Take Out Pirate Insurance
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The Somali pirates story is hitting the shipping industry at the worst possible time. Shippers are already taking it on the chin, as pricing power has absolutely evaporated, but now they're being forced to buy more insurance and staff up their boats, according to WSJ:
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Created by advisor
2 hours 31 min ago – Made popular 31 min 46 sec ago
Category: Finance News Tags:
Category: Finance News Tags:
Fed: Unemployment To Grow Through Early 2010
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The Fed minutes are out, and we're still picking through the details, but we see that as of October 28-29, our high-priests of the economy saw unemployment building through early 2010:
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Created by advisor
2 hours 31 min ago – Made popular 31 min 48 sec ago
Category: Finance News Tags:
Category: Finance News Tags:
Bottom Or Breakdown?
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Even though it's hardly a target-rich environment, stocks like these three could bounce nicely.
Read more »Pearlstein: The Bailout for Detroit
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Washington Post columnist Steven Pearlstein will be online Wednesday, Nov. 19 at 11:00 a.m. ET to discuss the automotive bailout.
Read more »Editorial Roundup
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-- Excerpts from recent editorials in newspapers in the United States and abroad:
Read more »What We're Reading:
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