Lehman shares sink, to make announcement Wednesday
NEW YORK (Reuters) - Lehman Brothers Holdings Inc shares sank as much as 46 percent on Tuesday on growing concern the fourth-largest Wall Street investment bank won't be able to raise the capital it desperately needs to survive the global credit crisis.
Pending homes sales drop in July
NEW YORK (Reuters) - Economists put a positive spin on some negative headlines for U.S. housing and wholesale inventory data on Tuesday.
Nokia in corporate e-mail deal with Microsoft
HELSINKI (Reuters) - Nokia Oyj said on Wednesday it has signed a deal with Microsoft to expand corporate e-mail access to 80 million Nokia phones as the world's top handset maker battles Blackberry-maker RIM .
Fears on Lehman, financials send market into skid
NEW YORK (Reuters) - Stocks plunged on Tuesday, driving the benchmark S&P 500 to its worst day in one and a half years, as concern about Lehman Brothers' ability to raise much-needed capital reignited fears about the broader financial sector.
Lawyers for Enron investors to get $688 million in fees
(Reuters) - Lawyers representing investors in collapsed energy firm Enron Corp will get about $688 million in fees for recovering $7.2 billion from its lenders, auditors and directors, court documents revealed.
CFOs more optimistic about economy: survey
NEW YORK (Reuters) - Chief financial officers are more optimistic about the direction of the U.S. economy, but remain concerned about consumer demand and weak credit markets, according to a quarterly survey.
CBS chief offers optimistic view of ad market
NEW YORK (Reuters) - CBS Corp Chief Executive Les Moonves said national TV advertising remained strong and some local advertising was recovering -- suggesting that marketers haven't cut budgets as deeply as some feared.
Oil jumps $1 as OPEC surprises with output cut
SEOUL (Reuters) - Oil prices jumped more than $1 a barrel on Wednesday, rebounding from a five-month low after OPEC surprised traders with a deal to effectively cut production by just over 500,000 barrels per day (bpd) from July levels.
Fannie, Freddie need restructuring to limit risks: IMF
FRANKFURT (Reuters) - The U.S. government's move to take control of Fannie Mae and Freddie Mac will help shore up the housing market, the banking system and the wider economy, a senior International Monetary Fund official said on Tuesday.
Judge orders Mattel, MGA CEOs to talk about Bratz
LOS ANGELES (Reuters) - A federal judge in California has ordered the chiefs of Mattel Inc and MGA Entertainment Inc into talks aimed at settling a copyright dispute over MGA's Bratz doll franchise.
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