Financial news on October 04, 2008

Business and Financial news
A.I.G. Uses $61 Billion of Fed Loan

The insurer said it had already drawn down $61 billion of its $85 billion emergency bridge loan, a move that startled credit ratings agencies. Read more..


Anxiety on Economy Wins Out

As the fear sweeping Wall Street finally reached Congress, House Democrats passed the $700 billion bailout bill in a resounding vote. Read more..

By JOE NOCERA - The New York Times

Beer Sales Down in Russia

InBev, the world’s biggest brewer, and a smaller rival, Carlsberg, reported weakening sales in Russia. Read more..

By BLOOMBERG NEWS - The New York Times

Citi, Jilted in Wachovia Deal, Ponders Lawsuit

Citigroup all but declared war Friday after Wachovia, the bank it rescued just four days ago, announced that it was scuttling the deal to form a new one with Wells Fargo, Citigroup’s rival. Read more..

By JONATHAN D. GLATER - The New York Times

Google and Yahoo Delay Ad Deal for Antitrust Review

The delay of the search advertising partnership would give the Justice Department more time to investigate its antitrust implications. Read more..

By MIGUEL HELFT - The New York Times

Here Are Some Answers to the Public’s Questions About the Financial Crisis

Millions of Americans have been queasy about their personal finances. Read more..

By DAVID STOUT - The New York Times

Luxury Travel Declines at British Airways

British Airways said first- and business-class travel fell 8.6 percent last month. Read more..

By BLOOMBERG NEWS - The New York Times

Netherlands Takes Over Fortis’s Dutch Operations

The deal comes less than a week after the government of the Netherlands, along with Belgium and Luxembourg, had agreed to invest 11.2 billion euros in Fortis. Read more..

By NELSON D. SCHWARTZ - The New York Times

Pessimism About Jobs, Often a Recession Sign

Worries about jobs often continue well after recessions end, a sign that the current sour outlook could continue for some time, even if the economy is close to hitting bottom. Read more..

By FLOYD NORRIS - The New York Times

S.E.C. Investigates Web Report on Apple

The false report on a CNN citizen journalist site said that Apple’s chief executive, Steven P. Jobs, had a heart attack and was hospitalized. Read more..

By BLOOMBERG NEWS - The New York Times

See what else happened on October 04, 2008