Steve Shickles

Stocks gain as hope rises for stimulus plan (Reuters)

Tue, 06 Jan 2009 21:02:01 +0000

Reuters - Stocks gained on Tuesday as bets rose on the likelihood of a government stimulus package after the release of minutes from the last Fed policy meeting painted a dismal picture of the U.S. economy.

N.Y. judge restrains Merkin funds in Madoff lawsuit (Reuters)

Tue, 06 Jan 2009 21:02:00 +0000

Reuters - A judge on Tuesday extended an order barring well-known hedge fund founder Ezra Merkin from withdrawing or liquidating millions of dollars in his funds, which invested with accused swindler Bernard Madoff.

German tycoon Adolf Merckle commits suicide (Reuters)

Tue, 06 Jan 2009 21:02:00 +0000

Reuters - German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire during the financial crisis, his family said on Tuesday.

Talbots shares jump after it secures committed credit (Reuters)

Tue, 06 Jan 2009 21:02:00 +0000

Reuters - Talbots Inc shares jumped 24 percent on Tuesday, a day after the women’s apparel retailer said it entered into agreements with three banks to secure a total $150 million in committed lines of credit.

November factory orders drop more than expected (Reuters)

Tue, 06 Jan 2009 21:01:59 +0000

Reuters - New orders received by U.S. factories plunged a much-greater-than-expected 4.6 percent in November, the fourth straight monthly decline and a sign the sharp drop in manufacturing is deepening the recession, a government report showed on Tuesday.

Home sales tumble to 7-year low (Reuters)

Tue, 06 Jan 2009 21:01:59 +0000

Reuters - Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.

Madoff scandal, SEC role under scrutiny (AP)

Tue, 06 Jan 2009 21:01:59 +0000

AP - Two more months of mortgage payments and retiree Allan Goldstein says he’ll be broke, just another victim in what may be the biggest Ponzi scheme in history.

British house prices sink by record amount in 2008 (AP)

Tue, 06 Jan 2009 21:01:58 +0000

AP - House prices in Britain fell by their biggest annual amount in at least 56 years during 2008, as credit seized up and possible buyers stayed out of the market, a leading mortgage lender said Tuesday.

Brazil stocks up in early trading (AP)

Tue, 06 Jan 2009 21:01:58 +0000

AP - Brazil’s stocks rose in early trading, with the Ibovespa stock index up 1.1 percent at 41,956 an hour into the session.

BlackRock's Doll sees solid 2009 U.S. stocks gains (Reuters)

Tue, 06 Jan 2009 17:59:36 +0000

Reuters - The U.S. stock market could gain as much 12 percent in 2009 from current levels, despite a recession that will last at least into the first half of the year, a top executive with asset manager BlackRock said on Tuesday.