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Business |
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Yahoo! News: Business
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Fannie, Freddie shares dive on bailout fears, bonds up
(Reuters)
 Reuters - Fannie Mae and Freddie Mac
shares plunged to their lowest levels in almost 20
years on Wednesday, while the mortgage companies' bonds rallied
on the belief that an increasingly likely government bailout
would wipe out shareholders but secure their massive debt.
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California mulls probing senator over IndyMac crash
(Reuters)
 Reuters - California's attorney general is
reviewing a request by former employees of IndyMac Bancorp Inc
to investigate whether a New York senator triggered
the bank's collapse by releasing confidential information.
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Wall St rises as bank, energy shares rebound
(Reuters)
 Reuters - U.S. stocks rose on Wednesday as bank
and energy shares rebounded even as investors dumped Fannie Mae
and Freddie Mac on fears of an imminent government bailout of
the housing finance companies.
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Lehman couldn't secure Korean Funds: report
(Reuters)
 Reuters - Lehman Brothers Chief Executive Dick
Fuld nearly struck a deal to raise almost $5 billion from South
Korean wealth funds and institutions but the pact
disintegrated, the New York Post said citing sources familiar
with the matter.
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U.S. judge approves suit against Bristol-Myers
(Reuters)
Reuters - A U.S. judge ruled in favor of
shareholders suing Bristol-Myers Squibb about its
disclosures while settling patent litigation with Canadian
generic drug maker Apotex Inc over the blood-thinner Plavix.
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China shares surge 5.89 pct by midday
(AFP)
 AFP - Chinese share prices surged 5.89 percent by midday Wednesday amid speculation that the authorities will soon launch new measures to boost the ailing stock market, dealers said.
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Russia 'makes 1 bln dlrs' on Fannie Mae, Freddie Mac bonds: reports
(AFP)
 AFP - Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, press reports said Tuesday.
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BJ's Wholesale profit up; stock falls on forecast
(Reuters)
Reuters - BJ's Wholesale Club Inc
reported higher-than-expected quarterly earnings, but its
shares fell nearly 7 percent as the retailer gave a
disappointing forecast, signaling business could be tough in
the fourth quarter that includes the crucial holiday season.
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