Job News From: Forbes

Forbes.com: Business News

Zoellick Improves World Bank Credibility In his first year, Bank president has made progress repairing the formerly demoralized, corrupted institution. TV Guide Changes Hands Again The TV magazine may not be the best of buys for private-equity firm OpenGate given a lack of clear plans for its digital future. Cooking The Carbon Books Is Europe really reducing emissions, or just outsourcing them to the developing world? U.S. Economy Needs More Than Bailout Seven-hundred billion is a start, but government intervention will likely increase. A Chance To Double Your Money In 1953, GM's president said, ''What's good for America is good for GM, and vice versa.'' It is still true.

Job News From: Yahoo! Business

Yahoo! News: Business Tue, 14 Oct 2008 10:30:47 GMT

U.S. to pump $250 billion into banks (Reuters) Reuters - The United States will pump $250 billion into its banks on Tuesday, following similar measures in Europe, but data showed the threat of recession has not been banished even if a financial sector meltdown has. General Motors says bankruptcy not an option (Reuters) Reuters - General Motors said on Tuesday bankruptcy for the firm is not an option and called for coordinated federal action to assist the ailing U.S. automobile industry. Automakers could return to Congress for help (Reuters) Reuters - U.S. automakers could turn to Congress after the November election to try to expedite $25 billion in government-backed loans, which Detroit manufacturers consider crucial to reversing their steep downward spiral. Bernanke says U.S. plan to help revive markets: report (Reuters) Reuters - Federal Reserve Chairman Ben Bernanke said a U.S. financial rescue plan to be fleshed out on Tuesday would restore normality to markets and lay the groundwork for economic recovery. Blackstone says U.S. action could crack the crisis (Reuters) Reuters - Blackstone Group chief executive Stephen Schwarzman said on Tuesday the injection of government cash into U.S. banks, alongside similar measures around the world, could break the back of the credit crisis. US stocks set to extend Monday's huge rally (AP) AP - Wall Street was gearing up for another surge higher Tuesday following the Dow Jones industrial average's historic 936-point jump, with investors encouraged by the U.S. government's plans to spend $250 billion on private banks' stock. The Benefits Of Dollar-Cost Averaging (Investor's Business Daily) Investor's Business Daily - When autos go on sale, more people tend to want to buy. The same with clothing and TV sets and soft drinks. J.C. Penney to launch apparel line: report (Reuters) Reuters - Mid-tier retailer J.C. Penney Co Inc is expected to announce a new line of moderately-priced women's apparel later on Tuesday, the Wall Street Journal said.

Job News From: NPR

NPR Topics: Business Tue, 14 Oct 2008 06:00:00 -0400

Fed To Follow Europe, Invest In BanksThe Treasury Department is set to announce a plan Tuesday to pump more than $200 billion of new capital into U.S. banks. The package follows similar steps by European governments announced Monday. In both cases, the moves will deepen government roles in the economy. Markets Rebound On Bank ProposalsBritain's top share index has added to strong gains, as a plan from the U.S. Treasury to inject $250 billion into banks further eased anxiety on financial markets. The stock rebound began Monday on a British plan to pump $64 billion of taxpayer cash into three major banks. Spanish Bank Buys Rest Of Sovereign BankcorpRenee Montagne has business news. General Motors To Close PlantsGM has announced plans to close a Michigan metal stamping plant and stop making sport utility vehicles in Wisconsin by the end of the year. Workers at both plants will get most of their pay from the company and unemployment benefits for up to two years under their union contract. California Tries To Raise $4 Billion In BondsOfficials in California begin selling billions of dollars worth of bonds Tuesday. The state held off until now because of turmoil in credit markets. But officials say other states have managed to sell bonds, and they are gambling that the money is out there to cover at least part of the state's needs. Julie Small reports for member station KPCC. Iceland Temporarily Up For Sale On eBayRenee Montagne has the Last Word in business. Fed To Buy Stakes In Nine BanksThe Bush Administration is expected to announce new steps Tuesday to shore up the nation's battered financial markets. The plan is to use as much as $250 billion of the $700 billion bailout program approved by Congress to buy stock in U.S. banks. Dow Discovers New Territory On Columbus DayThe Dow Jones industrial average rose 936 points Monday, the biggest single-day stock rally since the Great Depression. Investors wonder if the dramatic run-up can be sustained. David Wessel, economics editor of The Wall Street Journal, and Renee Montagne discuss whether the financial markets are recovering. Economic Downturn Fuels Coupon UseThe downturn in the economy is fueling a robust trade in coupons. In addition to the traditional coupons that people clip from newspapers and other printed sources, Web sites and blogs offer tips and links to coupons. Some companies are also sending out coupons as text messages. Bush To Unveil Expanded Bank Bailout DetailsThe Bush administration plans to spend as much as $250 billion of the $700 billion bailout buying stock in private banks, greatly expanding protections for the U.S. financial system out of deep concern for the faltering economy. Dow Surges On Global Bailout PlansThe Dow Jones industrial average has closed up 946 points, its biggest-ever one-day increase. The spike follows a week of massive losses on Wall Street that pushed the Dow below 10,000 points. Jeremy Siegel, professor of finance at The Wharton School of the University of Pennsylvania, attributes Monday's surge in stocks to relief the world's central banks and governments are serious about helping banks. Some Ask Why Lehman Was Allowed To FailThere is a growing consensus that if the current crisis has a proximate cause it is Treasury's decision to let the Wall Street investment firm Lehman Brothers go under. The effects of letting the investment bank collapse are still rippling around the world. Paulson Meets With Bank CEOs On Rescue PlanTreasury Secretary Henry Paulson has called the CEOs of half-dozen big U.S. banks to a meeting in Washington. Paulson and the CEOs were expected to discuss Treasury's plan to stabilize the financial sector by buying equity stakes in banks. Britain Unveils Plan To Boost BanksBritain has said it would provide up to $63 billion to boost the balance sheets of three of the country's largest banks but demanded in return the departure of some of the country's top bankers. Stocks in Britain rose at the news. Europe Vows $2 Trillion Backing For BanksEuropean governments have promised nearly $2 trillion of support for the banking system in Europe. After the British announcement of massive intervention last week, governments using the euro announced similar measures when they met in Paris Sunday night.