Reuters - European leaders, rushing to craft a credible response before fearful world markets reopen, pledged on Sunday to pump public money into banks battered by the worst financial crisis since the 1930s.
Bankruptcy financing gets pricier and more elusive
(Reuters)
Reuters - Financing is getting pricier and more elusive for companies that file for bankruptcy.
Financial markets near complete freeze
(Reuters)
Reuters - Investors will be seeing this week whether policymakers found a way to pull markets away from a deeper collapse as global capital markets faced complete freeze-up.
Wall St Week Ahead: For stocks, high anxiety still rules
(Reuters)
Reuters - High anxiety on Wall Street won't subside this week as the deepening credit crunch pushes the global economy into recession, and corporate profits increasingly become an afterthought as investors scramble to raise enough cash to weather the credit crisis.
Chrysler, GM have merger talks: sources
(Reuters)
Reuters - Chrysler LLC has had talks with General Motors Corp about a deal to combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to three people familiar with the matter.
Toronto stocks swoon amid panic and commodities drop
(Reuters)
Reuters - The main index of the Toronto Stock Exchange tumbled almost 6 percent on Friday as the latest wave of panic swept through global equity markets, wiping billions of dollars more from investor portfolios and pushing commodity prices sharply lower.
Money-market funds flock to guarantee program
(AP)
AP - Nearly all the $3.4 trillion in money-market mutual funds is expected to be federally guaranteed for at least the next three months, now that all the major fund providers signed up to participate by a deadline that passed Wednesday.
Apparel chains report dismal September sales
(AP)
AP - Dismal September sales results from mall-based apparel chains, released Thursday, offered more fresh evidence that American consumers, spooked by the financial meltdown, shut their wallets tight last month.