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Last updated: 07:49:08 Thursday Jul 17, 2008


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  • Stocks soar on drop in oil, Wells Fargo report
    NEW YORK - Wall Street at least temporarily shrugged off some of its many concerns Wednesday and bounded higher thanks to a drop in oil prices. The Dow Jones industrial average rose 276 points, or 2.5 percent, posting its best daily gain in three months.   Nations:U.S. Germany Japan France   Activities:U.S. Markets   2008-07-16

    Wall St. soars on banks' best day in 16 years
    NEW YORK (Reuters) - Stocks rallied more than 2 percent on Wednesday, powered by the best day for banks in 16 years as unexpectedly strong results from Wells Fargo & Co relieved worry about a credit crisis spiraling out of control.   People:Ben Bernanke   Activities:U.S. Markets 2005 Hurricane Katrina   2008-07-16

    Downturn gains steam as inflation roars ahead
    WASHINGTON - The U.S. economic downturn gained steam Tuesday, with a report of the highest inflation since the early 1980s, more bad news for banks and automakers and a suggestion by the Federal Reserve chief that worse days are ahead.   People:Henry Paulson Ben Bernanke   Activities:2008 U.S. Recession U.S. Markets 2007-8 Oil Crisis   Source:(AP)   2008-07-15

    Lehman CEO mulls ways to take bank private
    New York - Lehman Brothers (LEH.N) Chief Executive Richard Fuld is considering ways to take the Wall Street investment bank private, the New York Post reported on Tuesday.   Nations:India   Activities:2007 Global Credit Crunch U.S. Markets   Source:(New York Post)   2008-07-15

    Asia, Europe stocks drop on credit woes
    LONDON - Asian and European stock markets fell Tuesday as investor confidence in the U.S. financial system eroded further despite a government-backed plan to help beleaguered mortgage financiers Fannie Mae and Freddie Mac.   Nations:Hong Kong India Germany Japan France South Korea   Activities:2007 Global Credit Crunch Asian Markets European Markets   Source:(AP)   2008-07-15

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