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Yahoo! News: Stock Markets News Fri, 05 Sep 2008 22:10:45 GMT
  • GE may face civil action on securities violations (AP)   - AP - General Electric Co. said Friday it has been informed that the Securities and Exchange Commission may recommend fines and other action for possible violations of securities law related to accounting changes the company made.
  • Stocks mostly rise as investors snap up financials (AP)   - 

    Glenn Carell of Bear Wagner Specialists works on the floor of the New York Stock Exchange, Friday, Sept. 5, 2008 in New York. Selling swept across Wall Street for a second straight session on news that the economy shed jobs for the eighth straight month in August and at a faster-than-expected pace. (AP Photo/Henny Ray Abrams)AP - Wall Street wrestled with intensifying economic worries Friday, extending sharp losses after a disheartening jobs report and then grudgingly engaging in some mild bargain hunting that gave the market some modest gains. The major indexes ended the week with big declines, a sign that investors, who not long ago expected the economy to improve, are now growing increasingly discouraged.


  • GE gets "Wells notice" in SEC accounting probe (Reuters)   - Reuters - General Electric Co said on Friday it had been notified by U.S. regulators that a civil complaint could be filed against the company following a more than three-year-long probe into its use of hedge accounting for derivatives and other accounting matters.
  • GE says SEC probing possible securities violations (AP)   - AP - General Electric Co. says the Securities and Exchange Commission staff has notified the company it may recommend fines and other action for possible violations of securities laws.
  • InfoGroup no longer faces delisting from Nasdaq (AP)   - AP - Database provider InfoGroup Inc. said Friday it no longer faces the threat of being delisted, but the Nasdaq plans to reprimand the firm publicly.
  • Toronto stocks make tiny gain as resources rise (Reuters)   - 

    A Toronto Stock Exchange (TSX) logo is seen in Toronto in this November 9, 2007 file photo. REUTERS/Mark BlinchReuters - The Toronto Stock Exchange's main index just managed to end on the plus side on Friday, following a sharp three-day losing streak, as gains by resource and consumer issues offset worries over the outlook for the global economy.


  • Dow, S&P end higher on financials, down for week (Reuters)   - 

    Traders work on the floor of the New York Stock Exchange, June 24, 2008. (Brendan McDermid/Reuters)Reuters - NEW YORK (Reuters) -The broader U.S. stock market edged higher on Friday, but still posted its worst week since May, as a rally in financial stocks helped reverse losses sparked by a government report showing the U.S. jobless rate rose to a five-year high.


  • Wall Street bounces back from dismal jobs report (AFP)   - 

    Traders work on the floor of the New York Stock Exchange in New York City. Wall Street shares recovered from steep early losses and finished mostly higher Friday as the market was able to shake off a jump in unemployment that sparked renewed fears of a US recession.(AFP/Getty Images/Spencer Platt)AFP - Wall Street shares recovered from steep early losses and finished mostly higher Friday as the market was able to shake off a jump in unemployment that sparked renewed fears of a US recession.


  • On London: Scant comfort to be found in the pound's current decline (FT.com)   - FT.com - Sterling's decline against the dollar showed no signs of slowing this week, but what was more interesting was the reaction of the London market. The FTSE 100 fell 7.1 per cent - its worst weekly performance in percentage terms in more than six years - turning on its head the idea that the UK market performs well during periods of dollar strength.
  • On Wall Street: Bleak reality of US stock markets (FT.com)   - FT.com - One of Wall Street's tenuous beliefs is to sell stocks in May and not to return to the market until late October.
  • London shares end week sharply lower (AFP)   - 

    People walk past the London Stock Exchange. The FTSE ended the week sharply lower, with miners suffering the biggest losses amid ongoing concerns over the global economy and disappointing US jobless data.(AFP/File/Shaun Curry)AFP - The FTSE ended the week sharply lower Friday, with miners suffering the biggest losses amid ongoing concerns over the global economy and disappointing US jobless data.


  • World markets sink after Wall Street plunge (AP)   - 

    Pedestrians are reflected on an electronic stock indicator in Tokyo on Friday, Sept. 5, 2008. The benchmark Nikkei 225 index lost 319.05 to close the morning session at 12,238.61. At one point, the Nikkei index lost 371.19. (AP Photo/Koji Sasahara)AP - World stock markets fell sharply Friday in the wake of a sell-off on Wall Street amid mounting concerns about a slumping U.S. economy and its impact on global growth.


  • Global shares slide on economy fears (AFP)   - 

    Traders at a local brokerage in Hong Kong, June 2008. Asian stock markets tumbled after weak US retail and jobs figures revived fears about the health of the world's largest economy.(AFP/File/Mike Clarke)AFP - World stock markets tumbled Friday on a weak outlook for the global economy following further disappointing US and European data, dealers said.


  • US stocks fall on poor retail sales figures (FT.com)   - FT.com - A battered financial sector led Wall Street into bear market territory on Thursday, as Bill Gross, manager of the bond fund Pimco, warned that a "financial tsunami" could ensue if the government failed to support markets.
  • Wall Street, funds urge SEC to keep ratings in rules (Reuters)   - Reuters - Securities regulators are locking horns with some of America's most powerful mutual funds and Wall Street players over plans to scrap requirements that money market funds hold investment-grade securities.
  • ECB holds interest rates, slashes growth forecasts (AFP)   - 

    Euro symbol in front of Frankfurt's Eurotower, which houses the European Central Bank (ECB). The European Central Bank kept its key lending rate unchanged on Thursday and slashed its growth forecasts for this year and next, sending stock markets and the euro into tailspins.(AFP/File/John Macdougall)AFP - The European Central Bank kept its key lending rate unchanged on Thursday and slashed its growth forecasts for this year and next, sending stock markets and the euro into tailspins.


  • European shares mostly lower before interest rate calls (AFP)   - 

    A trader watches France's CAC 40 index of top shares at a private banking company in Paris, January 2008. Share prices fell sharply in Frankfurt and Paris ahead of European Central Bank president Jean-Claude Trichet's press conference due after the central bank's latest call on interest rates.(AFP/File/Jean Ayissi)AFP - Share prices fell sharply in Frankfurt and Paris on Thursday ahead of European Central Bank president Jean-Claude Trichet's press conference due after the central bank's latest call on interest rates.


  • Hong Kong considers ban on fishing trawlers: report (AFP)   - 

    Hong Kong is considering banning fishing trawlers in its waters to save fish stocks, a report said Thursday. The drastic proposal comes as annual catches were estimated to be 30 percent above sustainable levels, the South China Morning Post said, citing a consultation paper from the Food and Health bureau.(AFP/File/Richard A. Brooks)AFP - Hong Kong is considering banning fishing trawlers in its waters to save fish stocks, a report said Thursday. The drastic proposal comes as annual catches were estimated to be 30 percent above sustainable levels, the South China Morning Post said, citing a consultation paper from the Food and Health bureau.


  • German fertiliser group KS joins blue-chip DAX index (AFP)   - 

    German fertiliser group K+S will join the DAX 30 index of blue-chip stocks, reflecting its growing business as prices for commodities and foods rise globally. Frankfurt stock market operator Deutsche Boerse said late Wednesday that K+S, originally known as Kalie und Salz (Potassium and Salt), will replace the transport and tourism group TUI.(DDP/AFP/File/Martin Oeser)AFP - German fertiliser group K+S will join the DAX 30 index of blue-chip stocks, reflecting its growing business as prices for commodities and foods rise globally.


  • 2 Wall St. brokers accused of $1B subprime fraud (AP)   - 

    Credit Suisse said Tuesday it has bought an 80 percent stake in New York-based asset manager AMF for 384 million Swiss francs (237 million euros, 348 million dollars) in new stock.(Credit Suisse)AP - A former Wall Street broker pleaded not guilty Wednesday to charges he and a colleague duped investors into purchasing more than $1 billion in high-risk securities by making it look as though the trades were protected by the federal government.


 
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