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Yahoo! News: Business
Business
- Democrats set December 2 deadline for automakers' to offer plan
(Reuters)
Reuters - Senate and House Democratic leaders at a news conference: - Wall Street sell-off snowballs on oil, Detroit bailout
(Reuters)
Reuters - Stocks sold off at an accelerated speed late on Thursday as oil's drop below $50 hit the energy sector and investors' worries about the prospects for an automakers' bailout increased fears of a deepening economic slump. - Ambac shares rise 80 percent after liabilities canceled
(Reuters)
Reuters - Shares of Ambac Financial Group rose more than 80 percent on Thursday, after it reached an agreement to cancel contracts covering structured debt valued at $3.5 billion, allowing it to reduce loss reserves.
- Marsal to take over as Lehman CEO at end of year
(Reuters)
Reuters - Bryan Marsal, currently chief restructuring officer of bankrupt Lehman Brothers Holdings Inc , will take over as chief executive of the company after the close of business on December 31, a lawyer for the company said in court on Thursday. - GM shares rebound on news of bailout deal
(Reuters)
Reuters - Shares of General Motors Corp and Ford Motor Co jumped on Thursday, rebounding from multi-decade lows after U.S. senators reached a bipartisan agreement on a government bailout for the struggling U.S. automakers. - London stock market crashes 4.52%
(AFP)
AFP - London's FTSE 100 stock index plunged 4.52 percent in afternoon trading on Thursday, amid mounting fears of a deep recession and deflation. - Treasury to backstop mutual fund
(AP)
AP - The Treasury Department on Thursday said it is prepared to buy assets from a troubled money market mutual fund, part of an effort to prevent any disruptions to already fragile financial markets.
- British retailers discount to lure shoppers
(AP)
AP - Britain's top retailers are hoping unusual pre-Christmas discounts can convince consumers to open their wallets during a holiday season that coincides with a looming recession.