Financial news on August 9th, 2008

Business and Financial news
Delphi Reports a Narrower Loss

Delphi, the bankrupt former auto parts unit of General Motors, said that its net loss narrowed to $551 million in the second quarter from a year earlier, when it had costs from lawsuits and a plant closing. Read more..

By BLOOMBERG NEWS - The New York Times

Even Small Nest Eggs Need Advice

The clients most in need of help often get the least access to competent financial advice. But Citi’s global wealth management unit has come up with a way to try to serve this untapped market. Read more..

By RON LIEBER - The New York Times

Fears of European Slowdown Weaken the Euro

The euro tumbled Friday to near the $1.50 mark — its lowest level against the dollar since February — amid new signs that the European economy was slowing. Read more..

By CARTER DOUGHERTY - The New York Times

French Liquor Company May Sell a Stake

Belvedere, the French maker of Sobieski vodka, is in advanced talks with private equity funds about a stake sale as it seeks to emerge from creditor protection. Read more..

By BLOOMBERG NEWS - The New York Times

Making a Child’s Life Better in Every Corner

Caryl M. Stern, chief executive of the United States Fund for Unicef, discusses philanthropy and the state of the world’s children. Read more..

By TANYA MOHN - The New York Times

Mortgage Giants to Buy Fewer Risky Home Loans

Gaping losses at Fannie Mae and Freddie Mac are causing the two mortgage giants to slow their purchases of home loans at a time when the government is counting on them to help prop up the housing market. Read more..

By CHARLES DUHIGG - The New York Times

Mortgage Rates, Down for So Long, Are Creeping Back Up and Crimping Affordability

If you are a prospective home buyer waiting for the bottom of the housing market, there is another fact you need to take into account: mortgage rates are rising. Read more..

By TARA SIEGEL BERNARD - The New York Times

Reticence of Mainstream Media Becomes a Story Itself

For almost 10 months, the story of John Edwards’s affair remained the nearly exclusive province of the National Enquirer. Read more..

By RICHARD PÉREZ-PEÑA and BILL CARTER - The New York Times

Tech Company Goes Public but Its Shares Dive 20%

Rackspace Hosting, a San Antonio company that provides Web hosting to corporate clients, went public Friday, but its shares sank 20 percent in their first day of trading. Read more..

By CLAIRE CAIN MILLER - The New York Times

The Price Is the Same; It’s the Size That Shrinks

According to a new study, many supermarket goods are being packaged to sell in ever smaller quantities, while prices stay the same. Read more..

By M. P. DUNLEAVEY - The New York Times

See what else happened on August 9th, 2008