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Treasury near GSE bailout plan: report
(Reuters)
Reuters - The U.S. Treasury
Department is close to finalizing a plan to buttress mortgage
finance companies Fannie Mae and Freddie Mac ,
The Wall Street Journal reported on Friday.
Boeing machinists to strike as contract talks fail
(Reuters)
Reuters - Boeing Co's
27,000-strong machinists' union declared it will strike at
midnight Pacific time on Friday, as the plane maker failed to
improve its contract offer after two days of emergency talks.
Greenberg could pay fine of up to $100 million: report
(Reuters)
Reuters - Maurice "Hank" Greenberg, the former
CEO of American International Group Inc , could face a
fine of up to $100 million to settle three-year-old civil fraud
charges brought by New York's attorney general, according to
business news channel CNBC on Friday.
GE gets "Wells notice" in SEC accounting probe
(Reuters)
Reuters - General Electric Co said on
Friday it had been notified by U.S. regulators that a civil
complaint could be filed against the company following a more
than three-year-long probe into its use of hedge accounting for
derivatives and other accounting matters.
Jobless rate at 5-year high
(Reuters)
Reuters - An unexpectedly steep 84,000 U.S.
jobs were lost in August and the national unemployment rate hit
a five-year high of 6.1 percent, fanning worry ahead of
November's presidential vote about rising recession risks.
Wall Street bounces back from dismal jobs report
(AFP)
AFP - Wall Street shares recovered from steep early losses and finished mostly higher Friday as the market was able to shake off a jump in unemployment that sparked renewed fears of a US recession.
More Cons Than Pros To 401(k) Loan
(Investor's Business Daily)
Investor's Business Daily - In the past year, the credit crunch has spread from mortgages to student loans and other types of debt. Home equity lines of credit have been reeled in.
Slow August sales signal more weakness in retail
(AP)
AP - When it came to buying their children new jeans and trendy tops, parents held the line: They focused on basics at discounters and waited for the best deals, resulting in weak August sales at many stores. That's a bad sign for the holiday season as families may be just as cautious with their gift-giving.