Financial news on October 11, 2008

Business and Financial news
As Stock Falls, Morgan Looks to Japanese Bank

Morgan Stanley was racing to secure its financial lifeline from a big Japanese bank as confidence in the embattled Wall Street bank continued to erode. Read more..

By LOUISE STORY - The New York Times

Credit Squeeze Takes Hold in Europe

Small businesses struggle to pay suppliers and big businesses retrench as banks clamp down on lending. Read more..

By CARTER DOUGHERTY and KATRIN BENNHOLD - The New York Times

Economic Uncertainty Spreads

Around the world, fears of recession have fed a stock market panic, as worries about toxic assets spread from the financial sector to the credit markets and now to the broader economy. Read more..

By KEITH BRADSHER and CARTER DOUGHERTY - The New York Times

G.M. and Chrysler Explore Merger

General Motors is in preliminary talks about a possible merger with Chrysler, which could remake the auto industry. Read more..

By BILL VLASIC and ANDREW ROSS SORKIN - The New York Times

Hearst to Close CosmoGirl Magazine

The December issue will be the magazine’s last, as ad pages plummet across the magazine industry. Read more..

By STEPHANIE CLIFFORD - The New York Times

Iceland’s Banks Face Overseas Claims

Across Europe, countries, companies and consumers are discovering exposure to the three main Icelandic banks, all of which have been taken over by the government. Read more..

By ERIC PFANNER - The New York Times

Investing Like Buffett

We may be able to feel like billionaires and nudge our net worths higher by thinking and acting with our money as Warren Buffett does with his. Read more..

By CONRAD DE AENLLE - The New York Times

Oil Closes Below $78 as Demand Forecast Is Cut

Oil prices fell to their lowest level in more than a year as the International Energy Agency cut its forecast for global demand. Read more..

By DAVID JOLLY - The New York Times

Verizon Wireless Plans to Charge Companies Sending Text Messages

Verizon told companies that send out text messages that starting Nov. 1 it will impose a fee of 3 cents for each message it delivers to the phones of its subscribers. Read more..

By SAUL HANSELL - The New York Times

YouTube to Offer TV Shows With Ads Strewn Through

YouTube said it would start offering full-length episodes of some television shows on its sprawling Web site. Read more..

By BRIAN STELTER - The New York Times

See what else happened on October 11, 2008