|
|
|
|
AP Business News
09/07/2008 21:57:14
| US Government takes over mortgage giants
WASHINGTON (AP) - The Bush administration's seizure of troubled mortgage giants Fannie Mae and Freddie Mac is potentially a $200 billion bet that it will help reverse a prolonged housing and credit crisis. The historic move announced Sunday won support from both presidential campaigns, but private analysts worried that it may not be enough to stabilize the slumping housing market given the glut of vacant homes for sale, rising foreclosures, rising unemployment and weak consumer confidence. More » | Wall Street may cheer Fannie, Freddie bailout
NEW YORK (AP) - Wall Street finally got what it's been angling for: a bailout of Fannie Mae and Freddie Mac that could aid a recovery of the broken U.S. housing market and arrest a slide in stock and credit markets worldwide. Overall, the move is a positive for banks around the world, including Citigroup Inc., Merrill Lynch & Co. and UBS AG that invested in U.S. mortgages, according to Daniel Alpert, managing director at the investment bank Westwood Capital. And in electronic trading Sunday evening, futures for the major U.S. stock indexes all rose about 2 percent. More » | Wall Street wobbles as economic landscape shifts
NEW YORK (AP) - The stock market has lurched back near its July lows - but Wall Street's concerns are a bit different now than they were then. In July, investors were vexed about record-high oil prices; since that time, crude has fallen nearly 28 percent. Back then, financial services companies were dragging down the broader market; over the past two months, the financial sector has outperformed the major stock indexes. More » | Foodmakers plan big ad campaigns in down economy
MILWAUKEE (AP) - Foodmakers may be worried about higher costs for key ingredients, pushing through price increases and still maintaining their profits. But for big names like Sara Lee, Kraft and others, these slim times don't mean doing away with their advertising budgets. While the food companies, like other large advertisers, pulled back on their spending as the economy soured, many big foodmakers plan advertising punches in the coming months. The shift comes as consumers worried about rising costs eat at home more and shop with budgets in mind - a trend that's leading many of them to generics, or private-label brands. More » | Advertising group opposes Yahoo-Google pact
SAN FRANCISCO (AP) - A group representing big-spending national advertisers said Sunday it sent a letter to the Justice Department asserting an online ad partnership between Yahoo Inc. and Google Inc. will stifle competition and likely raise prices. The Association of National Advertisers said on its Web site that the letter to Thomas Barnett, assistant attorney general in charge of the Justice Department's antitrust division, came after a ``comprehensive, independent analysis'' and meetings with Google and Yahoo executives. More » |
|
|
|
Market News
