Financial news on May 9th, 2009

Business and Financial news
2 Banks Cited in Stress Tests Find Ready Investors

Wells Fargo and Morgan Stanley quickly raised more than $15 billion between them, easing concerns about luring private investors to recapitalize the banks. Read more..

By GRAHAM BOWLEY - The New York Times

AT&T Buys Some Assets From Verizon Wireless

AT&T, the country’s second-biggest wireless phone company, agreed Friday to pay $2.35 billion in cash to buy assets put up for auction by Verizon Wireless. Read more..

By BLOOMBERG NEWS - The New York Times

Berkshire Hathaway Posts Its First Loss Since 2001

Warren E. Buffett’s company attributed the loss to write-downs on its ConocoPhillips stake and derivatives. Read more..


Flu? What Flu?

With 8 percent of the Mexican economy based on tourism, the flu epidemic has been a disaster. But Mexico’s government is trying to lure tourists back. Read more..

By ELISABETH MALKIN - The New York Times

Hearing Michigan’s Pleas, and Pledging U.S. Help

Edward B. Montgomery, the director of recovery for auto communities and workers, toured Michigan to “listen to people on the ground.” Read more..

By NICK BUNKLEY - The New York Times

Hospitals Pay for Cutting Costly Readmissions

Readmitted patients cost the government billions, but hospitals that curb return trips are not rewarded. Read more..

By REED ABELSON - The New York Times

Shift to Saving May Be Downturn’s Lasting Impact

The recession is forcing a return to a culture of thrift that many economists say could last well beyond the recovery. Read more..


The Hidden Peril of Deferred-Compensation Plans

Salary set aside by highly paid workers in accounts to lessen tax burdens would almost certainly be lost if your employer were to file for bankruptcy. Read more..

By RON LIEBER - The New York Times

Trimming Health Care Costs When the Patient Is a Pet

Animals have medical bills, too. Here are some ideas about how to keep them under control. Read more..

By ALINA TUGEND - The New York Times

U.S. Jobless Rate Hits 8.9%, but Pace Eases

The economy lost 539,000 jobs in April, a sign that the relentless pace of job losses was starting to level off. Read more..

By PETER S. GOODMAN and JACK HEALY - The New York Times

See what else happened on May 9th, 2009