Reuters – Federal Reserve Chairman Ben Bernanke said on Friday that U.S. backing for the debt issued by home mortgage finance firms Fannie Mae and Freddie Mac in their current form must stand firm, even though it is appropriate to debate their future.
AFP – Wall Street shares rallied Friday, extending the gains from a strong week, as investors focused on lower interest rates and improving credit conditions, shaking off weak economic news.
The notion of technology as being relatively insulated from the credit crunch imploded earlier this year. It now appears the idea of the video segment being practically recession proof is heading for the same outcome.Shares of
AP – The nation’s retailers are set to report sales for established stores on Thursday that are expected to mark the weakest October performance since 1969, when the International Council of Shopping Centers index began. The figures are based on same-store sales, or sales at stores opened at least a year, which are considered a key indicator of a retailer’s health.
Reuters – European airlines face a cut-throat battle to survive the winter as recession threatens the recipe many have used to ride out a spike in oil prices — sharing the pain with consumers by slapping on fuel surcharges.
