Home sales fall, job market resilient
WASHINGTON (Reuters) - Sales of new homes plunged in August and prices posted their biggest year-on-year drop in nearly 37 years, the U.S. Commerce Department said on Thursday, underlining the depth of problems facing the housing sector.
Bush enacts deep student lender subsidy cuts
WASHINGTON (Reuters) - President George W. Bush signed student loan legislation on Thursday that slashes federal subsidies to lenders such as Sallie Mae, Citigroup, Bank of America and many others.
KB Home sales plunge as housing market worsens
NEW YORK (Reuters) - KB Home posted a wider-than- expected quarterly loss on Thursday on write-downs for land values and 28 percent fewer homes sold, as a swelling supply of new and existing homes and tighter mortgages kept buyers sidelined.
Wall Street edges up with energy shares
NEW YORK (Reuters) - Stocks edged up on Thursday as higher oil prices lifted energy companies' shares in a noncommittal market faced with conflicting data on the economy's health.
Wyeth names Poussot CEO, boosts buybacks
NEW YORK (Reuters) - Wyeth said on Thursday it had named Chief Operating Officer Bernard Poussot as chief executive officer, effective January 1, to replace retiring CEO Robert Essner.
Starbucks, Pepsi take bottled coffee overseas
LOS ANGELES (Reuters) - Starbucks Corp and PepsiCo Inc said on Thursday they were expanding their bottled coffee business into countries outside North America, with an initial foray into China.
CNBC downplays Bear Stearns investor talk
NEW YORK (Reuters) - Shares of Bear Stearns Cos Inc fell 3 percent on Thursday afternoon after a CNBC report downplayed any talks between the investment bank and potential outside investors.
Banks' crisis skills to be laid bare by results
NEW YORK (Reuters) - Big banks try to gird for crises as a matter of course and investors will soon learn how prepared they were for this summer's credit crunch.
Sallie shares rise on deal hope
NEW YORK (Reuters) - Shares of Sallie Mae recovered some ground on Thursday as traders bet that the endangered $25 billion deal to take over the student lender could be renegotiated at a lower price.
Morgan Stanley pays $12.5 million over pre-9/11 e-mail
NEW YORK (Reuters) - Morgan Stanley will pay $12.5 million to resolve charges that it failed to produce e-mails in arbitration cases and falsely claimed the e-mails were lost in the September 11, 2001, attacks.
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