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Thursday, October 30
Fred Harteis News Articles - Stark Signs of a Slowdown, Days Before Election
by
maba
on Thu 30 Oct 2008 11:35 AM EDT
Fred Harteis News Articles - Less than a week before Americans go to the polls to select a president, a government report released Thursday showed that the economy contracted in the third quarter as consumer spending dipped for the first time in 17 years.
Economists said the drop in economic activity — with the gross domestic product shrinking at a 0.3 percent annual rate — presages more bad news in the months ahead. The impacts of a now-global financial crisis are continuing to squeeze companies and impede investment, prompting ... more »
Friday, October 24
Fred Harteis News Articles - OPEC Orders Cut in Oil Production
by
maba
on Fri 24 Oct 2008 10:00 AM EDT
Fred Harteis News Articles - Stung by what it called “a dramatic collapse” in crude prices, the OPEC cartel said Friday that it would reduce output by a steeper-than-expected 1.5 million barrels a day, and suggested more production cuts are coming as the global economic slowdown crimps oil demand.
The announcement was made after a brief emergency meeting here Friday morning. While it marks the deepest production cut since 2003, OPEC’s move failed to establish the price floor that members wanted. Oil fell as much as $5 a barrel ... more »
Thursday, October 23
Fred Harteis News Articles - Greenspan Concedes Error on Regulation
by
maba
on Thu 23 Oct 2008 10:07 AM EDT
Fred Harteis News Articles - Facing a firing line of questions from Washington lawmakers, Alan Greenspan, the former Federal Reserve chairman once considered the infallible maestro of the financial system, admitted on Thursday that he “made a mistake” in trusting that free markets could regulate themselves without government oversight.
A fervent proponent of deregulation during his 18-year tenure at the Fed’s helm, Mr. Greenspan has faced mounting criticism this year for having refused to consider cracking down on credit derivatives, an unchecked market whose excesses partly led to the current ... more »
Wednesday, October 22
.Fred Harteis News Articles- Stocks Decline as Earnings Reveal Fallout of Credit Crisis
by
maba
on Wed 22 Oct 2008 10:26 AM EDT
Fred Harteis News Articles - Worries about the corporate sector sent stocks on Wall Street sharply lower again on Wednesday, with the Dow Jones industrials dropping nearly 400 points.
Worries about the corporate sector sent stocks on Wall Street sharply lower again on Wednesday, with the Dow Jones industrials dropping nearly 400 points.
Improvements in the credit markets — including the third straight day of declines in bank borrowing rates — did little to placate stock investors who are eying the corporate consequences of an economy that many economists believe ... more »
Monday, October 20
Fred Harteis News Articles - Shares on Wall Street Move Higher
by
maba
on Mon 20 Oct 2008 10:11 AM EDT
Fred Harteis News Articles- Signs of improvement in the credit markets brought a wave of relief to Wall Street on Monday morning, as investors sent shares higher after the open and welcomed comments from the chairman of the Federal Reserve that seemed to encourage a new government stimulus package.
The Dow Jones industrials were about 150 points higher before noon, after reaching a 250-point gain earlier in the day. The Standard & Poor’s 500-stock index rose nearly 2 percent, and the Nasdaq composite index was up slightly.
After ... more »
Friday, October 17
Fred Harteis News Articles - Iraq Appears on Verge of Deal on U.S. Troop Presence
by
maba
on Fri 17 Oct 2008 10:07 AM EDT
Fred Harteis News Articles - The Bush administration and the government of Prime Minister Nuri Kamal al-Maliki on Friday appeared to be on the verge of an agreement that would spell out the conditions under which American troops would remain in Iraq and a timeline for their eventual departure.
Simultaneous activity in Washington and Baghdad signalled that an accord was near on a security arrangement, formally called a status of forces agreement, to govern the conduct of American forces in Iraq for the remainder of their time there.
... more »
Wednesday, October 15
Fred Harteis News Articles - Stocks Slide Amid New Trouble Signs
by
maba
on Wed 15 Oct 2008 10:43 AM EDT
Fred Harteis News Articles - Wall Street looked beyond the government’s bailout plan on Wednesday and saw more signs that the economy was in for a dramatic slowdown.
Shares in New York fell sharply on Wednesday amid the likelihood that serious dislocations will plague the economy even if the coordinated bailouts announced this week succeed in restoring confidence to credit markets.
Two reports on Wednesday put the slowdown into perspective. One report said that retail sales decreased 1.2 percent last month, nearly double the 0.7 percent drop that had ... more »
Tuesday, October 14
Fred Harteis News Articles - Treasury Chief Says Banks Must Deploy New Capital
by
maba
on Tue 14 Oct 2008 10:13 AM EDT
Fred Harteis News Articles - Describing the government’s financial bailout plan as “extensive, powerful and transformative,” Treasury Secretary Henry M. Paulson Jr. said on Tuesday that the injection of $250 billion into the nation’s banks was needed to restore confidence and avoid a collapse of the financial system.
Speaking shortly after President Bush used similar terms to describe the proposal, Mr. Paulson said the Treasury would make $250 billion available to banks to help recapitalize those banks and to get them lending again, among themselves and to businesses and ... more »
Monday, October 13
Fred Harteis News Articles - Stocks Rise Sharply After Vows of New Bank Capital
by
maba
on Mon 13 Oct 2008 10:28 AM EDT
Fred Harteis News Articles- Last week’s stock sell-off gave way to a big rally on Monday as countries around the world took steps to ease the financial crisis, ushering in a drastic reshaping of the banking industry even as doubts lingered about its long-term effects.
The Dow Jones industrial average opened 400 points higher and headed north, led by big gains in financial stocks. In the early afternoon, the blue-chip index was up more than 600 points and trading above 9,000 for the first time since Thursday.
... more »
Friday, October 10
Fred Harteis News Articles - U.S. Stocks Gyrate After Global Selloff
by
maba
on Fri 10 Oct 2008 10:12 AM EDT
Fred Harteis News Articles - For almost 10 minutes on Friday, Wall Street seemed in a free-fall.
The Dow Jones industrial average fell almost 700 points or about 8 percent in that time. The broader Standard & Poor’s 500-stock index, declined almost 8 percent.
Then the turnaround began, and in the next five minutes, the Dow regained about 500 points. The S.&P. made similar gains.
And shortly after 10 a.m., the Dow actually slipped into positive territory, briefly. Forty minutes later, it was trading down about ... more »
Wednesday, October 8
Fred Harteis News Articles- Central Banks Coordinate Cut in Rates
by
maba
on Wed 08 Oct 2008 10:11 AM EDT
Fred Harteis News Articles - Central banks around the world cut short-term interest rates by up to half a percent on Wednesday after investors across Asia and Europe unleashed waves of sell orders onto already depressed stock exchanges.
The Federal Reserve, the European Central Bank and other central banks from Britain and Switzerland to Canada and China announced rate reductions within seconds of one another. The British government separately announced a plan to pump billions of pounds into the country’s leading banks as part of a plan that would result ... more »
Tuesday, October 7
Fred Harteis News Articles - Fed Announces Plan to Buy Short-Term Debt
by
maba
on Tue 07 Oct 2008 11:01 AM EDT
Fred Harteis News Articles - The Federal Reserve announced a radical new plan on Tuesday to jump-start the engine of the financial system.
The Fed said in a statement that it would begin to buy large amounts of short-term debt in an effort to stimulate the credit markets, which have all but dried up.
Under the program, the Fed said that it would buy the unsecured short-term debt that companies rely on to finance their day-to-day activities. “This facility should encourage investors to once again engage in term ... more »
Monday, October 6
Fred Harteis News Articles-Stocks Fall Sharply on Credit Concerns
by
maba
on Mon 06 Oct 2008 11:13 AM EDT
Fred Harteis News Articles - The selling on Wall Street began at the opening bell on Monday and only intensified as the day went on. Shares moved sharply lower as the banking crisis tightened its grip on the global economy.
The Dow Jones industrial average fell below 10,000 for the first time since 2004 after losing more than 500 points in the first hour. The index has lost more than 1,100 points — or about 10 percent — in slightly more than a week.
Shortly after noon, the ... more »
Thursday, October 2
Fred Harteis News Articles - Parents Give Up Youths Under Law Meant for Babies
by
maba
on Thu 02 Oct 2008 10:43 AM EDT
Fred Harteis News Articles- The abandonments began on Sept. 1, when a mother left her 14-year-old son in a police station here.
By Sept. 23, two more boys and one girl, ages 11 to 14, had been abandoned in hospitals in Omaha and Lincoln. Then a 15-year-old boy and an 11-year-old girl were left.
The biggest shock to public officials came last week, when a single father walked into an Omaha hospital and surrendered nine of his 10 children, ages 1 to 17, saying that his wife ... more »
Wednesday, October 1
Fred Harteis News Articles - Auto Sales Fall Sharply in September
by
maba
on Wed 01 Oct 2008 10:20 AM EDT
Fred Harteis News Articles - September was another difficult month for carmakers.
Toyota and the Ford Motor Company each said Wednesday that their sales in the United States fell more than 30 percent in September, as volatility in the financial markets compounded misery going forward for the auto industry.
But sales were better than expected at General Motors, which reported a 16 percent decline and estimated that its market share rose to the highest level in more than three years.
“We are looking at a very fragile ... more »
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