Financial news on October 04, 2008
Business and Financial news
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..
As the fear sweeping Wall Street finally reached Congress, House Democrats passed the $700 billion bailout bill in a resounding vote. Read more..
InBev, the world’s biggest brewer, and a smaller rival, Carlsberg, reported weakening sales in Russia. Read more..
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..
The delay of the search advertising partnership would give the Justice Department more time to investigate its antitrust implications. Read more..
Millions of Americans have been queasy about their personal finances. Read more..
British Airways said first- and business-class travel fell 8.6 percent last month. Read more..
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..
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..
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..