Industry news
Retail Weakness Hampers StocksStocks fell amid further unsettling signals on employment and spending. A slide in Wal-Mart shares weighed on the Dow industrials.
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BOE Cuts Rates to 1.5%The Bank of England cut its key rate by half a percentage point to 1.5%, taking it to the lowest level since the central bank was founded in 1694.
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High Inventories Sap Oil PricesCrude-oil futures fell as high U.S. inventory levels, especially at the contract's delivery point, put a spotlight on weak demand.
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Treasurys Gains as Stocks SlideTreasurys maturing in at least five years eked out some gains Thursday morning as worries about economic growth pressured global stocks.
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Banks, Miners Fall in EuropeEuropean stocks ended down, but off earlier lows. Mineral extractors and banks bore brunt of the losses, with London's FTSE falling 0.1%.
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SEC Reopens Probe of Trading at PequotThe SEC has reopened a probe into possible insider trading of Microsoft shares by Pequot Capital.
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Kuwait Bank Defaults on DebtTop Kuwaiti bank Global Investment House said it defaulted on most of its $3 billion debt obligations, raising concerns that other Arab Gulf financial firms may follow as the world financial crisis is spreading to the region.
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RBS Mulls BOC Stake SaleRoyal Bank of Scotland said it is considering selling its 4.3% stake in Bank of China.
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Satyam Scrambles to Assess FinancesSatyam revealed it was strapped for cash and scrambled to assess its finances and ensure continuity of operations even as its chief financial officer resigned.
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Merckle Family to Sell RatiopharmAdolf Merckle's family plans to sell generic drug maker Ratiopharm after securing a bridge loan to prop up the teetering business empire.
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TD Ameritrade to Buy ThinkorswimTD Ameritrade agreed to acquire thinkorswim for $606 million in cash and stock, in a move to push further into the fast-growing options market and build up its investor education programs.
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OECD: Cleanse Banks of Bad LoansThe failure of the U.S. and European governments to remove bad loans from banks before they are recapitalized may prolong the financial crisis, the OECD said.
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SEC Nominee to Face Tough QuestionsMary Schapiro, Obama's pick for SEC chair, is likely to face some tough questions from senators next week on how she intends to reform the battered securities regulator.
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GMAC Sees Progress in Reshaping ResCapGMAC reiterated its support for mortgage unit Residential Capital, saying it has made "significant progress" in reshaping ResCap to better align it with current market conditions.
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Industry news provided by WSJ Online.
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Market dips as Wal-Mart gloom offsets Obama (Reuters)Stocks fell on Thursday as Wal-Mart's disappointing December sales and dim profit outlook fueled concerns the recession may be deepening.
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EU: Gazprom insists on some Russian gas monitors (AP)The European Union says Gazprom is insisting that Russians be included in the monitoring mission overseeing Russian natural gas as it flows through Ukraine pipelines.
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Boeing plane orders, deliveries fall in 2008 (AP)Boeing Co.'s airplane deliveries and orders fell in 2008 as a strike temporarily halted its commercial aircraft operations and airlines grounded planes and reduced flying to cope with high fuel prices and lower demand.
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More evidence of waning demand sinks crude prices (AP)Another government report showing robust U.S. inventories added to a string of disheartening economic data Thursday sent crude futures lower for a second day.
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Prosecutors: Madoff was ready to send out $173M (AP)Prosecutors say Bernard Madoff had $173 million in signed checks in his office desk that he was ready to send out at the time of his arrest last month.
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News provided by Yahoo! Finance.
