Fed buys MBS in latest unconventional move
06:30AM Updated
NEW YORK (Reuters) The Federal Reserve on Monday kick-started its latest unconventional program to boost the moribund economy, this time taking aim at the heart of the slumping housing market. ...[Full Story]
World stocks climb on US revival hopes
06:02AM Updated
LONDON (AFP) World stock markets rose on Monday, with Tokyo hitting the highest level for almost two months as investors hoped that the US economy would start to recover this year after a dire 2008. ...[Full Story]
GE's finance arm launches $10 billion FDIC-backed debt
06:01AM Updated
NEW YORK (Reuters) General Electric Cos (GE.N) finance arm on Monday launched a 10 billion sale of FDIC-backed debt, the largest sale under the government guarantee program since its inception last N ...[Full Story]
Car sales plunge, heralding bleak 2009
05:32AM Updated
DETROIT (Reuters) Major automakers reported U.S. sales in December that plunged by more than a third, closing out the weakest year for the battered industry in over a decade and a half in its largest ...[Full Story]
U.S. seeks to revoke Madoff bail
05:23AM Updated
NEW YORK (Reuters) U.S. prosecutors asked a judge to revoke the bail terms for alleged swindler Bernard Madoff and detain him on Monday, claiming he was a flight risk. But the ...[Full Story]
Stocks slip on telecoms but energy shares up
05:23AM Updated
NEW YORK (Reuters) Stocks fell on Monday as investors booked profits after last weeks run-up, while concerns about slowing cell phone sales hit shares of the biggest telecommunications companies. ...[Full Story]
Stocks slip on telecom and financials; Apple jumps
04:25AM Updated
NEW YORK (Reuters) Stocks fell on Monday as investors booked profits after last weeks run-up, while analyst concerns about slowing wireless growth in 2009 weighed on large telecom and cable companies ...[Full Story]
Chrysler says December U.S. sales fall 53 percent
04:25AM Updated
DETROIT (Reuters) Chrysler (CBS.UL) says U.S. sales fall 53 percent in December from year earlier. * Chrysler says US sales fell 30 percent in 2008 from prior year ...[Full Story]
GM's U.S. sales drop 31 percent for December
03:57AM Updated
DETROIT (Reuters) General Motors Corp (GM.N) reported on Monday a 31 percent drop in U.S. sales for December as it posted its first monthly results since the U.S. government agreed to provide the str ...[Full Story]
New bail hearing set in Madoff case: source
03:38AM Updated
NEW YORK (Reuters) A new bail hearing was set for Monday in the Bernard Madoff case, according to a source, with the accused swindler showing up at the courthouse. Madoff, a fo ...[Full Story]