Wednesday, October 15, 2008
Dow sinks 733 on economic fears
The stock market gave back most of Monday's big gain after two reports showed we may already be in a recession.
Fed: Economy sinks deeper into rut
The country has sunk deeper into an economic rut, the Federal Reserve reported Wednesday, reflecting mounting damage from the financial and credit crises.
Wells Fargo 3Q profit falls 25 percent
Wells Fargo said Wednesday its third-quarter profit fell 25 percent as it took hits on investments in troubled finance companies and increased its credit reserves, but results were better than analysts had expected.
St. Jude Medical Inc. reports higher earnings
St. Jude Medical Inc. said today its third-quarter earnings increased about 20 percent, thanks to strong results from all of the medical technology company's businesses.
Economy shows its pain, rebound will take time
The economy was in deep pain even as the government pushed forward Wednesday with its latest financial rescue plan to exchange taxpayer money for stakes in the nation's banks.
Federal bank buy-in no economic quick-fix
With any luck, the government's quarter-trillion dollar cash infusion in banks will get them lending again, but the radical move won't quickly turn around the tottering economy.
Global ride gets bumpy for 3M
The turbulent world economy is rocking all boats, even stable vessels.
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Blog: Patent Pending
Bad markets= No IPOs
More bad financial news: there were no venture capital-backed IPOs in the second quarter, the worst quarterly performance since 1978, according to a recent report by PricewaterhouseCoopers. “There is little indication that the market will recover anytime before the second quarter in 2009,” said Tracy Lefteroff, global managing partner of the Venture Capital and Private Equity [...]
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