Job News From: Forbes

Forbes.com: Business News

Dendreon Misses, Moves Up New data on Provenge won't allow it to file with the FDA, as investors hoped. Icahn Wins, But Bristol Isn't A Total Loser Either Carl Icahn sells ImClone to Eli Lilly for $7 a share more than Bristol was offering. Mobile Banks Face Challenges In Africa Complex transactions and stringent regulations are just two of the problems facing this new sector. Wells Wins Rounds In Fight For Wachovia New York appeals court overturns order extending exclusive period for Citigroup to seal deal with ailing bank. Citigroup Blocks Wells Fargo Bid A court injunction gets in the way of Wells Fargo's plans to acquire Wachovia.

Job News From: Yahoo! Business

Yahoo! News: Business Mon, 06 Oct 2008 17:37:17 GMT

Global rout sinks stocks; Dow below 10,000 (Reuters) Reuters - Stocks fell on Monday, with the Dow diving more than 500 points to below 10,000 for the first time in four years, as investors feared the widening fallout from the credit crisis would drag the economy into recession. Fed to boost auctions, pay interest on reserves (Reuters) Reuters - The Federal Reserve on Monday announced a series of steps to funnel massive amounts of liquidity through clogged credit markets, including boosting the sizes of cash auctions and offering banks interest on reserves. SEC, Fed aware of everything at Lehman: Fuld (Reuters) Reuters - U.S. lawmakers expressed outrage about the collapse of Lehman Brothers Holdings Inc on Monday, saying the investment bank's top executive, board members and regulators all shared blame for its downfall. Oil drops $5 to below $89 on demand concerns (Reuters) Reuters - Oil dropped more than $5 to below $89 a barrel on Monday on expectations the growing financial crisis will further slow already faltering global fuel demand. U.S. calls for unity as crisis wrecks markets (Reuters) Reuters - Governments and central banks around the world grasped at measures to contain the fast-spreading financial crisis on Monday but global stocks still plummeted as investors bet a recession was inevitable. Fed, Treasury take steps to confront financial crisis (AFP) AFP - The Federal Reserve and the US Treasury announced measures Monday to confront a rapidly escalating financial crisis under new emergency powers as panicked investors fled stock markets. Credit crisis adds to pressures on auto dealers (AP) AP - Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan. Family Dollar profit tops estimates (Reuters) Reuters - Family Dollar Stores Inc posted a higher-than-expected quarterly profit on Friday, helped by shoppers who spent tax rebate checks at the discount retailer and by closely controlling costs.

Job News From: NPR

NPR Topics: Business Mon, 06 Oct 2008 13:00:00 -0400

E.U. Governments Guaranteeing Bank DepositsShare prices dropped on the European markets in response to the growing financial crisis Monday. A number of European governments are guaranteeing bank deposits, following a trend set by Ireland last week. Is The U.S. Still On Top?Cleverly packaged U.S. sub prime mortgages have contaminated economies around the world. European countries were among the first to realize that hundreds of billions of dollars in toxic mortgage securities were woven into their assets. Will the United States' place in the global economy survive? Mr. Bailout: The Man Who May Oversee $700BTreasury Sec. Henry Paulson is expected to name Neel Kashkari to oversee the Treasury's new Office of Financial Stability. The Wall Street Journal's Deborah Solomon tells us more about the 35-year-old Goldman Sachs alum. Bank Of American Settles Suit Over Bad MortgagesFacing a lawsuit over deceptive mortgage practices, a Bank of America subsidiary will modify tens of thousands of loans to help keep people in 11 states from losing their homes. Borrowers stuck with Countrywide Financial mortgages that they can't afford could see their interest rates reduced or have the loan principal cut. Bank of America purchased Countrywide in June, at the same time Illinois and California sued Countrywide. Financial Turmoil Deepening In EuropeThe financial turmoil shaking Wall Street is also taking a toll in Europe, where authorities moved to assure bank depositors that their money was safe, and a bailout was planned for a large German lender. European leaders are struggling to deliver a unified response to the crisis. Wells Fargo, Citigroup Battle In Court Over WachoviaThe battle for control of Wachovia bank is tilting toward Wells Fargo. A New York state appeals court has blocked a lower court ruling that favored rival bidder Citigroup. Meantime, Wachovia is asking a federal judge to declare invalid part of the Citigroup deal that would have restricted Wachovia from considering competing bids. 'Credit Crunch' Chocolates Debut In BritainIn Britain, there's a new luxury chocolate treat. "Credit Crunch" has been launched to tempt shoppers looking for something to snack on during these times of economic woes. The fancy French chocolates are being sold at Selfridges department store. A 5-ounce bag costs about $7. Judge Blocks Wells Fargo Purchase Of WachoviaA New York judge on Saturday blocked Wells Fargo & Co.'s attempt to purchase Wachovia Corp. The judge scheduled a meeting between representatives from Citigroup and Wachovia for Oct. 10. How To Survive In This EconomyThe middle class is being hit hard by the economic crisis. Families and white-collar professionals are struggling to pay mortgages, buy food and put gas in their cars. Weekend Edition Sunday begins a series of conversations about how people are getting by in this economy. Melissa Parker, a woman from Sacramento, Calif., speaks with host Liane Hansen. The Race For Iraqi OilThe competition for Iraqi oil is gaining momentum. Later this month, Iraq will host more than three dozen major oil companies. All of them hope to bid and win the account for handling Iraq's massive oil reserves. Analyzing China's Exposure To U.S. DebtStephen Green, head of research at Standard Chartered Bank in Shanghai, speaks with host Liane Hansen about how the global financial crisis has hit China. China has close to $1.3 trillion invested in U.S. debt with up to $500 billion in agency securities. Sales Decrease For San Francisco Small BusinessesSmall businesses in a working-class neighborhood of San Francisco are feeling the pinch of the economic slowdown. Sales are down dramatically in many retail stores as consumers hold back on both big and small purchases. States Welcome Financial BailoutPamela Prah, a reporter for Stateline.org, speaks with host Liane Hansen about how the Wall Street meltdown and Congress' bailout plan is affecting the states. Some states are considering slashing their budgets and making other cutbacks. European Nations Contemplate Bailout OptionsEuropean Union heads of government held a summit in Paris to discuss their own plans for how to bail out their threatened banks. Unlike the U.S. plan, they plan to deal with bank failures on a case-by-case basis. Was The Bailout Bill A Good Idea?The bailout package signed into law on Friday was passed amid dire warnings that the U.S. economy was on the verge of collapse. Still, many Americans are asking: Was it necessary? NPR's Adam Davidson tackles the question.