World News Center
Asia stocks at 5-year low (Reuters)
November 21, 2008
Reuters - Waves of selling in world stock markets crashed into Asia on Friday, with gains from the region's 5-year bull run now erased as a global recession tightened its grip, and investors sought refuge in government bonds and cash.
Democrats demand U.S. Big 3 offer survival plan (Reuters)
November 21, 2008
Reuters - Democratic congressional leaders, seeking to salvage a bailout of the Big Three automakers, demanded executives provide a business survival plan in exchange for their support of up to $25 billion in loans.
Citigroup eyes options including merger (Reuters)
November 21, 2008
Reuters - Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.
Fannie Mae, Freddie Mac suspend some foreclosures (Reuters)
November 21, 2008
Reuters - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.
Fed's Bullard: U.S. deflation an issue Fed must face (Reuters)
November 21, 2008Reuters - Deflation would be very damaging to the United States economy and with nominal interest rates already very low, quantitative easing may be needed to keep it at bay, a top Federal Reserve official said on Thursday.
GM, Ford shares soar on bailout optimism (Reuters)
November 21, 2008
Reuters - Shares of General Motors and Ford Motor Co soared on Thursday after a Senate Democratic aide said senators had reached agreement on a bipartisan auto aid deal.
British retailers discount to lure shoppers (AP)
November 21, 2008
AP - Britain's top retailers are hoping unusual pre-Christmas discounts can convince consumers to open their wallets during a holiday season that coincides with a looming recession.
Steelers defense controls Bengals in 27-10 win (AP)
November 21, 2008
AP - Ben Roethlisberger and the Pittsburgh Steelers know exactly how to beat the Cincinnati Bengals with or without Chad Ocho Cinco.
Even with Iverson, Celtics blow away Pistons 98-80 (AP)
November 21, 2008
AP - The Allen Iverson trade looked good for the Pistons when they handed the Lakers their first loss of the season and snapped Cleveland's eight-game winning streak.
DeShawn Sims scores 18, Michigan upsets No. 4 UCLA (AP)
November 21, 2008
AP - Showing poise down the stretch and playing stellar defense, Michigan pulled off its first win over a top-five team in 11 years.
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