Business, Reuters

Citigroup shares drop and CEO plans to keep Smith Barney (Reuters)

admin — Fri, 21 Nov 2008 23:11:11 +0000

Reuters - Citigroup Inc shares tumbled for a fifth straight day on doubts about its survival prospects after its chief executive downplayed speculation the bank might sell major businesses or merge with a rival.

Wall St Week Ahead: Stocks eye Citigroup, Geithner’s next moves (Reuters)

admin — Fri, 21 Nov 2008 23:05:19 +0000

Reuters - Wall Street faces stiff headwinds in the week ahead, the fate of Citigroup largest among them, that stand in the way of building on Friday’s big rally and preventing November from winding up as one of the worst months for stocks on record.

Obama moves to pick Geithner for Treasury (Reuters)

admin — Fri, 21 Nov 2008 21:47:24 +0000

Reuters - President-elect Barack Obama on Friday moved toward nominating Timothy Geithner as Treasury secretary and charging the respected head of the New York Federal Reserve with helping pull the United States out of an economic nosedive.

Goldman cool to Citi deal even with U.S. aid: source (Reuters)

admin — Fri, 21 Nov 2008 21:37:03 +0000

Reuters - Goldman Sachs Group Inc is not interested in buying hard-hit Citigroup Inc , even with substantial U.S. government financial support, a person familiar with Goldman’s strategy said Friday.

Target rejects Pershing’s real estate proposal (Reuters)

admin — Fri, 21 Nov 2008 21:19:21 +0000

Reuters - Target Corp on Friday rejected a proposal made by activist hedge fund manager William Ackman that the discount retailer boost its stock price by spinning off a real estate investment trust into a company that would own the land underneath its stores.

Wall Street stages late rally on Geithner news (Reuters)

admin — Fri, 21 Nov 2008 21:07:12 +0000

Reuters - U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration’s ability to take action.

Geithner report rallies stocks but Citi still down (Reuters)

admin — Fri, 21 Nov 2008 20:38:27 +0000

Reuters - President-elect Barack Obama will name New York Federal Reserve president Timothy Geithner as his Treasury Secretary, major media reported on Friday, sparking a late-day stock market rally and helping assuage concerns about a power vacuum in Washington.

Obama picks Geithner for Treasury: report (Reuters)

admin — Fri, 21 Nov 2008 20:32:44 +0000

Reuters - President-elect Barack Obama has selected Timothy Geithner as Treasury secretary, charging the respected head of the New York Federal Reserve with pulling the United States out of an economic nosedive, NBC news reported on Friday.

Wall Street rebounds on reported Treasury nomination (Reuters)

admin — Fri, 21 Nov 2008 20:11:07 +0000

Reuters - Stocks surged on Friday to cap another volatile week as investors greeted with relief reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, lifting a major uncertainty from markets.

Fed’s Geithner to be tapped for Treasury: reports (Reuters)

admin — Fri, 21 Nov 2008 19:33:54 +0000

Reuters - Timothy Geithner, the president of the New York Federal Reserve Bank, is expected to be tapped by President-elect Barack Obama to be the next secretary of the U.S. Treasury, NBC News and the Wall Street Journal reported on Friday.