Investors flinched early Friday as the details emerged from Citigroup Inc.’s plans to turn over a big piece of itself to the government and as the economy shrank at a much faster pace than expected at the end of last year.
Monthly archives for February, 2009
Japan’s industrial production falls record amount (AP)
Japan’s industrial production plunged at a record pace in January, the government said Friday, as collapsing overseas demand forced manufacturers to keep slashing output and jobs. Household spending and retail sales also fell.
Malaysia economy grew only 0.1 pct in 4th quarter (AP)
Malaysia’s trade-driven economy grew a dismal 0.1 percent in the fourth quarter of 2008 from a year earlier, bringing full-year growth to 4.6 percent, the government said Friday.
World stocks mostly lower as economic fears weigh (AP)
Asian stock markets were narrowly mixed Friday, with Japan’s benchmark up 1.5 percent, as persistent worries about the deteriorating world economy and financial system sidelined many investors.
FBI arrests Stanford Financial Group exec (AP)
FBI agents have arrested the chief investment officer of troubled Stanford Financial Group, accusing Laura Pendergest-Holt of obstructing a Securities and Exchange Commission fraud investigation.
Economy likely suffered deeper contraction (AP)
The economy’s downhill slide at the end of last year was likely much steeper than the government initially thought and it is probably doing just as poorly now — if not worse — as a relentless slew of negative forces feed on each other, pushing the country deeper into recession.
Japan’s industrial production falls record amount (AP)
Japan’s industrial production plunged at a record pace in January, the government said Friday, as collapsing overseas demand forced manufacturers to keep slashing output and jobs. Household spending and retail sales also fell.
Calderon: US should fix economy, then immigration (AP)
President Felipe Calderon said Thursday he knows Barack Obama is committed to immigration reform, but that the best thing the American president can do — even for Mexicans — is to fix the U.S. economy.
FelCor Reports Fourth Quarter Results – Exceeds High Guidance (Business Wire)
IRVING, Texas—-FelCor Lodging Trust Incorporated today reported operating results for the fourth quarter and year ended December 31, 2008.
Yankees, Bank of America end sponsorship talks (AP)
The New York Yankees and Bank of America ended months of negotiations on a long-term, high-profile sponsorship agreement, part of the fallout from the financial industry’s decision to accept aid from the federal government.