Reuters - Asian shares fell on Thursday after a surprise drop in manufacturing in the U.S. heartland cast doubts on the strength of a global recovery, while the dollar was on the back foot against higher-yielding currencies.
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AFP - Europe’s main stock markets rose in cautious trading on Wednesday, after falls the previous day, as traders awaited the latest reading on economic growth in the recession-struck United States.
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AP - A key House lawmaker wants to make credit rating agencies widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis collectively liable for inaccuracies.
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Reuters - Stocks fell on Wednesday after a surprising contraction in an index of Midwest business activity, but buying of technology bellwethers like Cisco Systems Inc at the end of a strong quarter limited losses.
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Reuters - General Motors Co will close Saturn and wind down its dealership network after a deal to sell the faltering brand to Penske Automotive Group collapsed, the automaker said on Wednesday.
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Reuters - Bank of America Corp CEO Kenneth Lewis announced he was retiring, after months of being dogged by a series of government investigations into the company’s acquisition of Merrill Lynch last year that had become a major distraction for the biggest U.S. bank.
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Reuters - The U.S. economy shrank less in the second quarter than first thought but negative news on jobs and on manufacturing in the country’s Midwest in September pointed to a patchy recovery from recession.
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AP - Nearly one in three borrowers who applied for a mortgage last year was denied as lenders kept their standards tight as the mortgage crisis accelerated, the government reported Wednesday.
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AP - A White House-backed overhaul of the nation’s health care system weathered repeated challenges from Republican critics over taxes, abortion and more on Wednesday, and the bill’s architect claimed enough votes to push it through the Senate Finance Committee as early as week’s end.
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Reuters - CIT Group Inc is planning to offer its unsecured debt holders two options: either exchange their debt voluntarily, or face a prepackaged bankruptcy, sources close to the situation said on Wednesday.
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