Reuters - Citigroup Inc lost as much as a quarter of its market value Thursday as mushrooming worries about whether the bank has enough capital to withstand billions of dollars of additional loan losses outweighed new support from its largest individual investor.
AP - Britain’s top retailers are hoping unusual pre-Christmas discounts can convince consumers to open their wallets during a holiday season that coincides with a looming recession.
Reuters - Senators Levin, Bond, Voinovich, Stabenow reached an agreement on bipartisan auto aid agreement a senate democratic aide said on Thursday.
Reuters - Stocks advanced on Thursday after a Senate Democratic aide said senators reached a bipartisan agreement on aid for automakers.
Reuters - JPMorgan Chase & Co is cutting about 10 percent of its investment banking staff as the credit crunch and slowdown in the economy bite into bank earnings, people familiar with the situation said on Thursday.
AFP - European stocks markets plunged in afternoon trading on Thursday with London down 4.52 percent as recession fears deepened on new data showing a surge in US jobless claims.
Reuters - Citigroup Inc , JPMorgan Chase & Co and Capital One Financial Corp are among the final bidders for Chevy Chase Bank, a Bethesda, Maryland, lender, sources familiar with the matter said.
Investor’s Business Daily - Housing: For years, a self-described “bank terrorist” blackmailed banks into making bad home loans in our inner cities. Now those loans are defaulting by the millions, and he’s blaming banks.
Reuters - Stocks opened lower on Thursday as investors worried that failure by automakers to get a government bailout would add to the economy’s woes, worries
Reuters - Citigroup Inc won a vote of confidence from Saudi Prince Alwaleed bin Talal, its largest individual investor, who said on Thursday he plans to boost his stake in the U.S. banking giant to 5 percent from less than 4 percent.
Reuters - Microsoft Corp on Thursday filed plans with securities regulators to tap the debt markets, raising money to pay for working capital, share buybacks, or other types of general corporate expenses.
Reuters - Oil plunged below $50 a barrel on Thursday, deepening losses over the previous four sessions as battered financial markets reflected ever lower confidence in the world economy and evidence mounted of falling fuel demand.
Reuters - The number of U.S. workers filing new claims for jobless benefits surged last week to their highest level in 16 years, Labor Department data showed on Thursday, as a harsh economic environment forces employers to cut back on hiring.
Reuters - Children’s Place Retail Stores Inc’s quarterly profit almost doubled, driven by higher sales and improved gross margins, but the apparel retailer said it expects a challenging holiday season.
AP - South Korean stocks fell for an eighth straight session Thursday, and the won dropped against the U.S. dollar to levels not seen in more than a decade, as a sell-off on Wall Street and worries about the world economy shook investors.