Job News From: Forbes

Forbes.com: Business News

Brown Resurgent The credit crisis has galvanized British Prime Minister Gordon Brown as he urges the world to follow his bank bailout. Dumb, Dumber and Hummer Connecting two struggling companies like GM and Chrysler is not a winning strategy in the auto business. GM-Chrysler? Cerberus wants to sell its Chrysler stake. The private equity firm is in talks with others, but struggling GM seems a likely buyer. Lehman Auction Leaves Cloudy Picture For Banks No clear winners or losers after a $365 billion sale of credit default swaps on bank's bonds. Shopping Through The Financial Crisis From cars to clothes, great deals abound. Time to buy? Almost.

Job News From: Yahoo! Business

Yahoo! News: Business Sun, 12 Oct 2008 23:50:45 GMT

Europe and others bolster banks to fight crisis (Reuters) Reuters - Nations from Europe to Australia rushed out plans on Sunday to shore up their banks, trying to halt a markets crash with pledges to back lending, buy stakes in financial institutions and take other emergency steps. Wells Fargo wins Fed approval on Wachovia bid (Reuters) Reuters - The Federal Reserve on Sunday gave its stamp of approval to the takeover of Wachovia Corp by Wells Fargo & Co of San Francisco, which had battled New York-based Citigroup for ownership of the wounded bank. Morgan Stanley's fate still hangs in the balance (Reuters) Reuters - Despite its best efforts to fortify its defenses, Morgan Stanley's fate hangs in the balance after the market's relentless assault last week. Beyond merger talks, GM eyes federal funds (Reuters) Reuters - What's good for General Motors Corp is good for the country. AIG knew of potential problems in valuing swaps: report (Reuters) Reuters - Top executives at American International Group Inc knew of potential problems in valuing derivatives contracts, known as credit default swaps, long before questions about the risky transactions caused its stock to plummet, the Wall Street Journal said, citing documents released by congressional investigators. Gulf stock markets continue slump (AFP) AFP - Stock markets in the energy-rich Gulf states opened the week's trading Sunday sharply down with the Dubai Financial Market shedding six percent. Money-market funds flock to guarantee program (AP) AP - Nearly all the $3.4 trillion in money-market mutual funds is expected to be federally guaranteed for at least the next three months, now that all the major fund providers signed up to participate by a deadline that passed Wednesday. Apparel chains report dismal September sales (AP) AP - Dismal September sales results from mall-based apparel chains, released Thursday, offered more fresh evidence that American consumers, spooked by the financial meltdown, shut their wallets tight last month.

Job News From: NPR

NPR Topics: Business Sun, 12 Oct 2008 16:49:00 -0400

Parishioners Taking A Pass On Collection PlateAs the stock market crisis hits parishioners' pocketbooks, charities and churches across the country are bracing for decreased giving. It's unclear just how big a hit nonprofits are in for, but at least some Sunday collection plates are already feeling lighter. Money Market Managers On Loans To BusinessesOne of the reasons the credit market has frozen is that money market mutual funds are not investing in "commercial paper" — that is, they're not making the short-term loans to businesses that those firms need to operate. European Nations Agree To Guarantee LoansEurope is taking stronger, coordinated action to restore confidence in the continent's banking system. Fifteen euro zone countries have agreed to guarantee future loans among banks through the end of next year, according to French President Nicolas Sarkozy. NPR's Frank Langfitt talks to host Andrea Seabrook about European credit markets, which have seized up as there as they have in the U.S. American Workers Grow Nervous According to a report by the U.S. Department of Labor, 760,000 jobs have been lost in the past nine months. For some Americans who still have jobs, the pressures they face on a daily basis may be as difficult to bear as job insecurity. IMF And World Bank Convene The fall meetings of the International Monetary Fund and World Bank resume in Washington Sunday. At the top of the agenda, the financial meltdown that the IMF says could send the world into recession. NPR's John Ydstie has been following the story and has this report. German Business Students Get Crash Course In Berlin, students at a business management school get an explanation of how the crisis developed, how it might play out, and how it might affect their own careers. A Personal Story Of Economic Crisis Donna Giannola is a 49-year-old graphic designer who has been laid off three times in the last decade and is struggling to stay afloat. Air Bag Fraud: Underreported 'Life And Death Scam'A Weekend Edition investigation shows that some unscrupulous auto repair shops and used-car dealers have victimized consumers by stealing or not replacing air bags. Get tips for spotting air bag fraud and see what one victim found inside her car. Sales Of Home Safes Climb Amid Financial TurmoilAbout the same time Lehman Brothers filed for bankruptcy and the stock market began plummeting, one of the nation's leading sellers of safes started to see a sales boost. The company's CEO says he thinks the increase is due to people losing faith in banks. G-7 Leaders: We'll Tackle Crisis TogetherFinance ministers from around the world tried to show they are working in a coordinated way to tackle a global financial crisis that has proved to be far more serious than anyone anticipated. World Powers Meet To Combat Credit CrisisPresident Bush was short of specifics in his brief statement after Saturday morning's meeting. Will the meeting itself be enough to calm the worldwide markets after the weekend, or will the finance ministers have to offer a concrete plan to stabilize the world's financial systems? Will The Week's Events Stop The Market Slide?How can G-7 leaders or the five-point plan solve the financial crisis? Scott Simon discusses this week's economic news with NPR's John Ydstie. Fear Drives Wild Trading Ahead Of G-7 MeetingFor the first time ever, the Dow Jones industrial index traded in a 1,000-point range on Friday. The Dow ended its day of wild swings down 128 points, to close at 8,451.19. Fears Grow That Tight Credit Could Crush GM, FordStandard & Poor's downgraded the credit of General Motors and Ford Motor Co. and their financing arms this week. Many fear the automakers lack enough cash to sustain their business during this downturn, and that if they falter, it could have widespread repercussions on the U.S. economy. Paulson OKs Bank Stock Purchase PlanTreasury Secretary Henry Paulson has said the government will go ahead with a plan to buy stocks in financial institutions. Meanwhile, The Group of Seven industrialized nations agreed to work together to fix the global economy.