World News Center
Global stocks hit 5-1/2 year lows (Reuters)
November 20, 2008
Reuters - A 6 percent fall in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell below $53 and safe havens such as the yen gained on fears the global recession and a financial crisis will get uglier.
Financials need at least $1 trillion: analyst (Reuters)
November 20, 2008
Reuters - The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said.
Prospect for auto bailout dims as Senate races clock (Reuters)
November 20, 2008
Reuters - Chances dimmed that a last-minute plan being crafted by Republican senators, with White House support, to provide $25 billion to bail out U.S. automakers would receive enough backing from Democrats to pass before the end of this week.
Fed minutes: may need more rate cuts if growth ebbs (Reuters)
November 20, 2008
Reuters - Federal Reserve officials slashed economic growth forecasts through 2009 and some believed even deeper interest rate cuts may be needed if growth slows further, minutes of their October policy meeting show.
GM and Toyota to cut Thai output amid weak sales (Reuters)
November 20, 2008Reuters - U.S. car giant General Motors Corp announced a two-month shutdown at its Thai plant on Thursday, the latest move by global automakers seeking to slash costs in the face of weak sales and deepening economic gloom.
US, European stocks dive on recession fears (AFP)
November 20, 2008
AFP - US and European stock markets dived Wednesday after dismal US economic data added to recession fears and automakers called for government bailouts to stave off collapse.
Homebuilder, REIT shares tumble as recession spreads (Reuters)
November 20, 2008
Reuters - The shares of big U.S. homebuilders and real estate companies alike slumped on Wednesday as housing starts fell to a record low and concerns spread the commercial real estate market is going the way of residential.
Limited Brands posts lower net profit, shaves view (Reuters)
November 20, 2008Reuters - Limited Brands , the retailer whose main chains are Victoria's Secret and Bath and Body Works, posted lower net profit on Wednesday and trimmed its full-year earnings outlook.
Pacman reinstated, but can't return until Dec. 7 (AP)
November 20, 2008
AP - The NFL is giving Adam "Pacman" Jones another chance. Dallas Cowboys owner Jerry Jones said Wednesday the suspended cornerback has been reinstated by league commissioner Roger Goodell, but he must miss two more games this Sunday and the following game on Thanksgiving. He'll be back Dec. 7 at Pittsburgh.
Cards decline to consider releasing Edgerrin James (AP)
November 20, 2008AP - The Arizona Cardinals declined to consider releasing Edgerrin James when the running back's agent inquired about the possibility, the team's general manager said Wednesday.
