Reuters - Northrop Grumman and Airbus parent
EADS won a $35 billion U.S. Air Force refueling plane deal on
Friday in a surprise blow to Boeing, until now the Pentagon’s
sole supplier of aerial tankers.
Reuters - Warren Buffett’s Berkshire Hathaway
Inc said on Friday quarterly profit fell 18 percent, hurt by
lower earnings from insurance underwriting and a decrease in
investment gains.
Investor’s Business Daily - The mortgage crisis and overall credit crunch will likely cut GDP growth by 1.3 percentage points in the next year, according to a study by several top economists at a Univ. of Chicago forum. Banks are expected to tighten credit further as home loan losses swell to $400 bil — $250 bil more than previously seen. The report urged banks to cut dividends to preserve capital. Presenters included Jan Hatzius of Goldman Sachs, Anil Kashyap of the Chicago Fed and Hyun Song Shin of Princeton Univ.
Investor’s Business Daily - The mortgage crisis and overall credit crunch will likely cut GDP growth by 1.3 percentage points in the next year, according to a study by several top economists at a Univ. of Chicago forum. Banks are expected to tighten credit further as home loan losses swell to $400 bil — $250 bil more than previously seen. The report urged banks to cut dividends to preserve capital. Presenters included Jan Hatzius of Goldman Sachs, Anil Kashyap of the Chicago Fed and Hyun Song Shin of Princeton Univ.
Reuters - The U.S. Air Force said on Friday it
had picked a transatlantic team led by Northrop Grumman,
instead of Boeing, to start building a new aerial refueling
fleet in a surprise choice worth about $35 billion.
Reuters - American International Group ,
on the heels of reporting its largest-ever loss, said on Friday
the subprime crisis had thrown it into “uncharted waters” that
were likely to remain choppy through 2008.
Reuters - The Federal Reserve’s rapid-fire
interest rate reductions were warranted, but the central bank
must reverse course quickly once calm is restored to financial
markets, Fed officials said on Friday.
NewsFactor - Microsoft said on Thursday it plans to slash prices on its Windows Vista operating system sold through retail channels. The company wants consumers to upgrade to the latest version of its flagship product.
Reuters - The alarm bells of U.S. recession rang
louder on Friday as reports showed business activity in the
U.S. Midwest plummeted in February and consumer sentiment
slumped to a 16-year low.
FT.com - Yell was hit by heavy selling again Thursday after a US rival reduced its earnings forecast because of the weakening domestic economy.
AP - Consumer spending is threatening to stall out while consumer confidence, battered by soaring energy costs and falling home prices, has taken a steep nosedive.
Reuters - The U.S. Air Force has picked a
Northrop Grumman-led transatlantic team over rival Boeing Co
to start building a new aerial refueling fleet in a
major upset, a prominent defense analyst said on Friday.
Reuters - American International Group ,
on the heels of reporting its largest-ever loss, said on Friday
the subprime crisis had thrown it into “uncharted waters” that
were likely to remain choppy through 2008.
Reuters - Stocks sank on Friday as another round
of weak economic data added to U.S. recession fears and a
record loss at AIG , the world’s biggest insurer,
underscored worries about the financial sector.
Reuters - Billionaire Wilbur Ross has agreed to
invest up to $1 billion in Assured Guaranty Ltd ,
bypassing big bond insurers like Ambac Financial Group Inc
in favor of a rival that has largely avoided the credit
problems plaguing the industry.