Reuters – Stock index futures fell on Friday, with the Dow headed for its worst month in more than two decades, as investors braced for economic data and news that the General Motors-Chrysler merger is on hold.
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Reuters – Troubled financial giants getting cash infusions from the U.S. Federal Reserve owe their executives more than $40 billion for past year’s pay and pensions as of the end of 2007, the Wall Street Journal said in an analysis.
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Reuters – Japan cut interest rates for the first time in seven years on Friday, expecting severe stress in the global economy to persist, while UK banking giant Barclays said it was raising $12 billion in capital.
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AP – Many baseball fans here would not speak the “P” word in the anxious days leading up to the city’s World Series title, lest they jinx the team. But now that the Philadelphia Phillies have claimed their second championship, everyone is talking about a parade.
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AP – A money-market mutual fund that “broke the buck” amid a rush of orders to pull out cash has begun returning an initial $26 billion to investors who had been unable to access their money for more than a month.
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AP – The Italian government gave Libya early warning of the 1986 U.S. airstrikes launched in response to a deadly attack on a disco in Germany, Libyan and Italian officials said Thursday.
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Reuters – The U.S. economy suffered its sharpest contraction in seven years in the third quarter as consumers cut spending and businesses reduced investment at the onset of what may be a severe and long-lasting recession.
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CNET – Now that the U.S. Court of Appeals has ruled that abstract processes, or business methods, cannot be patented, it’s important to look at how this could affect the tech industry.
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AP – It took Ella Jenkins and two teenage pals less than 15 minutes to give a thumbs up to London’s biggest mall, which opened Thursday despite the gloomy economic climate that threatens to dampen vital Christmas sales.
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Reuters – Fidelity Investments’ flagship Magellan fund sharply raised its holdings of Bank of America Corp and JPMorgan Chase & Co in September, as it moved into bigger U.S. banks amid the worsening credit crisis.
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