Greenspan sees recession chances less than 50/50
LONDON (Reuters) - The probability of a recession in the United States has increased but is still less than 50/50, former Federal Reserve Chairman Alan Greenspan said in comments broadcast on Friday.
Consumer spending up, prices tame
WASHINGTON (Reuters) - Consumers boosted their spending at the strongest rate in four months during August and core consumer prices posted their smallest year-on-year rise in 3-1/2 years, the Commerce Department reported on Friday.
Wall Street slips on last day of strong September
NEW YORK (Reuters) - Stocks dipped on Friday as money managers locked in profits on the last trading day of a strong September, while concerns surfaced about the strength of profits during a turbulent third quarter.
GM trades jobs for concessions in UAW contract
DETROIT (Reuters) - General Motors Corp. agreed to keep 16 union-operated plants through 2011 in exchange for a cost-saving deal on health care and other concessions, according to the terms of the top U.S. automaker's tentative labor contract with the United Auto Workers union.
Forecasts lose shine as credit crunch fuels doubt
PARIS (Reuters) - Forecasters are busy churning out new and gloomier economic predictions because of a global credit crunch whose outcome nobody can be sure of until financial conditions normalize and uncertainty subsides.
Bain to buy 3Com
NEW YORK (Reuters) - Network equipment maker 3Com Corp said on Friday it will be bought by private equity firm Bain Capital Partners for $2.2 billion in a deal that will also give China's Huawei a minority stake.
Fed officials keep open mind on policy moves
CHICAGO (Reuters) - Federal Reserve officials on Friday said they were keeping an open mind on whether U.S. interest rates need to be lowered further, a decision they said would be driven by data not yet in hand.
Legg Mason's Miller tones down risk
NEW YORK (Reuters) - Star Legg Mason Inc stock picker Bill Miller, known for gutsy bets on stocks with long-shot business models, is reducing risk by focusing more on big-cap companies and broadening holdings in his battered flagship portfolio.
Daewoo says no plan to change Myanmar investment
SEOUL (Reuters) - South Korea's Daewoo International Corp , which leads a multi-billion dollar energy project in Myanmar, will not alter its investments there following a violent government crackdown on protests, the company said on Friday.
Sweden fines Carnegie, chief executive quits
STOCKHOLM (Reuters) - The chief executive of investment bank Carnegie resigned on Friday after regulators called for sweeping management changes following a trading scandal and fined the bank 50 million Swedish crowns ($7.7 million).
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