10/31 Yahoo! News: Business

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. Yahoo! News: Business - Business Nine U.S. banks seized in largest one-day haul (Reuters) October 31, 2009 at 12:11 am Reuters - U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans. CIT moves closer to pre-packaged bankruptcy approval (Reuters) October 30, 2009 at 10:51 pm Reuters - CIT Group has met at least one of the hurdles necessary to file for a prepackaged bankruptcy, sources said, bringing the commercial lender one step closer to the fast bankruptcy process it is seeking to lower its liabilities and get back to health. China sees bumpy road ahead for export recovery (Reuters) October 30, 2009 at 10:48 pm Reuters - A gradual global economic return to health will help Chinese exports grow again, but there are still many uncertainties and any recovery will be "hard and tortuous," China's Commerce Ministry said. Time Warner to take $100 million charge on Time cuts: sources (Reuters) October 30, 2009 at 7:43 pm Reuters - Time Warner Inc is set to take a restructuring charge of around $100 million for planned job cuts at its Time Inc publishing unit, according to people familiar with matter. Retailers suspend business with Mich. fruit grower (AP) October 30, 2009 at 6:25 pm AP - Wal-Mart and two other top retailers said Friday they are suspending business with a large southwestern Michigan blueberry grower after investigators found children as young as 6 working in the grower's fields. Ford seen narrowing loss, focus on cash burn (Reuters) October 30, 2009 at 4:11 pm Reuters - Ford Motor Co is expected to post a narrower quarterly loss with support from the U.S. government "cash for clunkers" program, but the focus will be on the outlook for the U.S. economy and auto industry sales. Retail gas prices highest in a year (AP) October 30, 2009 at 4:04 pm AP - Retail gasoline prices chugged higher Friday to a new peak for the year, forcing consumers to dig deeper into already-thin wallets to pay for fuel. Feds taking action against reverse mortgage lender (AP) October 30, 2009 at 3:10 pm AP - The U.S. Department of Housing and Urban Development is taking action against a reverse mortgage lender in Hawaii. Md. man sentenced to prison for mortgage fraud (AP) October 30, 2009 at 2:47 pm AP - An Oxon Hill man has been sentenced to more than three years in prison for a mortgage fraud tied to 25 properties in Maryland, D.C. and Virginia worth millions of dollars. CIT, Icahn agree on restructuring plan (Reuters) October 30, 2009 at 2:38 pm Reuters - Billionaire investor Carl Icahn, who had challenged CIT Group Inc's restructuring plan, said on Friday he was now backing the company's pre-packaged bankruptcy and would provide an additional $1 billion in credit to the lender. A look at economic developments around the globe (AP) October 30, 2009 at 1:59 pm AP - A look at economic developments and activity in major stock markets around the world Friday: Oil prices sink after surging on US growth data (AFP) October 30, 2009 at 12:51 pm AFP - Oil prices sank Friday, mirroring losses on global stock markets, after surging the previous day on news that the United States had emerged from recession. Consumer spending falls as sentiment sours (Reuters) October 30, 2009 at 11:24 am Reuters - U.S. consumers cut spending in September and turned gloomier this month, underscoring the fragile nature of the economy's recovery even as signs emerged that manufacturing activity may be picking up. U.S. consumer sentiment dips in Oct: survey (Reuters) October 30, 2009 at 10:46 am Reuters - U.S. consumer sentiment slipped this month as Americans fretted about personal finances and focused on paying down debt, a survey showed on Friday. Chevron profit hit by oil, refinery weakness (Reuters) October 30, 2009 at 10:08 am Reuters - Chevron Corp posted a 51 percent drop in quarterly profit on Friday, the latest oil giant to be hit by the steep decline in oil and natural gas prices and the anemic margins for refineries. NYSE Euronext beats Street view; sells Liffe stake (Reuters) October 30, 2009 at 9:15 am Reuters - Cost-cutting helped NYSE Euronext beat earnings expectations, and the transatlantic exchange operator announced the sale of a big stake in its U.S. derivatives exchange. Stock futures signal dip after strong rally (Reuters) October 30, 2009 at 6:30 am Reuters - U.S. stock index futures pointed to a slightly lower open on Wall Street on Friday following the previous session's sharp rally, with futures for the S&P 500 down 0.35 percent, Dow Jones futures down 0.17 percent and Nasdaq 100 futures down 0.09 percent at 6:10 a.m. EDT. NYSE Q3 beats consensus, sells Liffe U.S. stake (Reuters) October 30, 2009 at 5:32 am Reuters - NYSE Euronext said on Friday it is selling a "significant equity interest" in its derivatives exchange NYSE Liffe U.S., as it posted a 28-percent drop in third-quarter earnings. German retail sales post second straight drop (AFP) October 30, 2009 at 5:06 am AFP - German retail sales fell for the second consecutive month in September, a sign that household demand remains weak amid persistent fears that unemployment will climb in the coming months. JP Morgan raised concerns about Galleon in 2001: report (Reuters) October 30, 2009 at 2:32 am Reuters - JP Morgan Chase & Co raised concerns about Galleon hedge fund founder Raj Rajaratnam and his associates as far back as 2001, the Financial Times reported, citing an internal company document seen by the newspaper. Sony posts 4th straight quarter loss (Reuters) October 30, 2009 at 2:28 am Reuters - Sony Corp (6758.T) posted a loss for the fourth consecutive quarter, hit by sluggish cellphone sales and as it cut prices of its PlayStation 3 game gear, but trimmed its full year loss forecast close to market expectations. Asia stocks rebound from slide, earnings a boost (Reuters) October 30, 2009 at 2:00 am Reuters - Asian stocks bounced back on Friday from their worst drop in two months, with investors taking heart from the United States' return to economic growth, which gave reassurance on the recovery's staying power. China's Nasdaq-style market sizzles on debut (Reuters) October 30, 2009 at 1:56 am Reuters - The ChiNext stock market , China's long-awaited Nasdaq-style second board, debuted on Friday with a speculative surge that more than doubled the price of all its 28 stocks -- a good sign for firms lining up to list on China's main stock markets.   This email was sent to cardmaster21@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.