Yahoo! News: Business

Global stocks rebound on rate cut hopes (Reuters)

A worker at the Tokyo Stock Exchange is seen in Tokyo November 21, 2008. (Yuriko Nakao/Reuters)Reuters - European and Asian shares managed to rise and oil rose toward $50 on Friday as expectations of further interest rate cuts helped to cushion deepening gloom about the financial and auto sectors as well as the broader economy.


Democrats demand Big 3 offer survival plan (Reuters)

Leaders of the U.S. automotive industry testify at a hearing held by the House Financial Services Committee on Capitol Hill, November 19, 2008. From left are General Motors CEO Richard Wagoner, Chrysler Chairman and CEO Robert Nardelli and Ford president and CEO Alan Mulally. (Kevin Lamarque/Reuters)Reuters - Democratic congressional leaders, seeking to salvage a bailout of the Big Three automakers, demanded executives provide a business survival plan in exchange for their support of up to $25 billion in loans.


Citigroup eyes options including merger (Reuters)

Pedestrians walk past a Citibank branch in Singapore November 18, 2008. (Vivek Prakash/Reuters)Reuters - Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.


Fannie Mae, Freddie Mac suspend some foreclosures (Reuters)

The headquarters of mortgage lender Freddie Mac is seen in Mclean, Virginia, near Washington in this September 8, 2008 file photo. (Jason Reed/Reuters)Reuters - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.


Honda cuts more production (Reuters)

A man walks past Honda Motor Co. cars at a showroom in Tokyo January 30, 2008. (Michael Caronna/Reuters)Reuters - Honda Motor Co (7267.T) said it would build fewer cars in Japan, Europe and North America to reflect an increasingly bleak outlook for sales as the global economic crisis discourages big-ticket purchases.


Stocks tumble for second day; Treasurys surge (AP)

A pair of stuffed dice hangs from a monitor on the floor of the New York Stock Exchange as traders leave for the day,Thursday, Nov. 20, 2008. Stocks plunged for a second straight day Thursday, falling to a ranges not seen in six years as financial and energy stocks tumbled and as demand for the safety of government debt spiked to historic levels. (AP Photo/Richard Drew)AP - Stocks plunged for a second straight day Thursday, falling to levels not seen in at least five years, as financial and energy stocks tumbled while demand for the safety of government debt spiked.


Fannie Mae, Freddie Mac suspend some foreclosures (Reuters)

The headquarters of mortgage lender Freddie Mac is seen in Mclean, Virginia, near Washington in this September 8, 2008 file photo. (Jason Reed/Reuters)Reuters - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.


British retailers discount to lure shoppers (AP)

A promoter hands out flyers on a central London shopping street Thursday, Nov. 20, 2008 as the Marks and Spencers chain runs a 20 per cent off sale. Retail sales figures released for the UK show figures down only 0.1% in October despite mounting evidence from retailers such as Woolworths PLC and Marks & Spencer PLC, that business conditions are extremely tough. (AP Photo/Alastair Grant)AP - Britain's top retailers are hoping unusual pre-Christmas discounts can convince consumers to open their wallets during a holiday season that coincides with a looming recession.