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Industry news

Stocks Waver After Selloff
Stocks seesawed as investors tweaked their portfolios but remained nervous about severe weakness in the economy and on Wall Street balance sheets. Read

Goldman's Gold Standard Is Less Golden
Goldman's shares fell below the $53 price where they were first sold to the public. The stock is down 75% this year. Read


Citi Weighs Options, Including Firm's Sale
Citigroup began weighing the possibility of auctioning off pieces of the company or even selling itself outright. Read

Treasury Will Help Liquidate Fund
Treasury said it will help liquidate an offering from Reserve Management, in a move to calm money markets. Read

Fannie, Freddie Halt Foreclosures
Fannie and Freddie suspend foreclosure sales and evictions on certain properties until January as it prepares for its loan-modification program. (Statements) Read

Regulators Take Steps to Monitor Some Thrifts
The Office of the Comptroller of the Currency is paying closer attention to roughly 100 community banks with large exposure to weak commercial real-estate loans. Read

New York Will Suspend Its CDS Plan
New York will delay "indefinitely" its plans to regulate credit-default swaps because of progress made by federal regulators. Read

Paulson Defends Moves on Crisis
Paulson, under fire for his approach to resolving the financial-sector crisis, defended his actions as "necessary steps to prevent a financial collapse." Read

Some ETFs Fall Short on Pricing
Exchange-traded funds promise to let investors trade baskets of stocks at predictable prices throughout the day. But some thinly traded ETFs have been falling short of that goal. Read

Grand Canyon Ends IPO Drought
Online college Grand Canyon Education didn't do much to bolster investor confidence in initial public offerings, with an IPO that declined 1.3% on the Nasdaq Stock Market. Read

Harkin Sets Plan on Derivatives
Tom Harkin plans to introduce a bill that would force all over-the-counter derivatives, including credit-default swaps, onto regulated futures exchanges. Read

Impala Puts on Hold Share-Buyback Plans
Impala Platinum Holdings said it has suspended its share-buyback plans and will review capital expenditures in light of the drop in platinum prices. Read

Borrowing Gauge Falls
Total direct borrowing from the Federal Reserve's discount window tumbled in the latest week, falling below $300 million on Wednesday for the first time in nearly two months. Read

Last Month, $40 Billion Pulled From Hedge Funds
Investors withdrew $40 billion from hedge funds last month amid the stock market's crushing declines. Read

J.P. Morgan Pares Staff Yet Again
J.P. Morgan Chase began handing out pink slips to employees in its investment bank. Read

Citi's India Group Loses CEO, Plans Layoffs
Citigroup's sizeable Indian operation lost its chief executive and expects to lay off more than 1,000 employees over the next few months. Read

Babcock Barred From Cash in Bank
Babcock & Brown has been denied access to a bank deposit that involves a "material amount" of money. Read

Traders Make Quick-Hit Options Bets in Financials
Traders did something they rarely do -- they bought options that expire in a matter of hours. Read

Industry news provided by WSJ Online.

News

GM to extend holiday shutdown, will cut production (AP)
General Motors Corp. will extend its holiday shutdown or make other production cuts at five factories at as it deals with a continued U.S. auto sales slump and fights to stay solvent. Read

Citigroup's options dwindle as shares under $4 (AP)
Citigroup's options are dwindling along with its stock price as the credit landscape deteriorates and fears escalate about future loan losses at the company. Read

US gas prices dip below $2 as oil prices waver (AP)
The national average price for gasoline tumbled below $2 a gallon Friday, its lowest point in more than three years, yet the global economic contrast between then and now could not be more stark. Read

Stocks show moderate advance after sell-off (AP)
Wall Street moved in and out of positive territory Friday, with investors taking a breather from the heavy selling of recent days. Energy, utility and technology stocks showed some advances, but bank stocks declined sharply. Read

Citi extends plunge as world economy deteriorates (Reuters)
Amid growing concern that a power vacuum in Washington was contributing to the global financial crisis, shares of U.S. banking giant Citigroup skidded on Friday while legislators and corporate chieftains weighed the fate of the U.S. auto industry. Read

News provided by Yahoo! Finance.