NEW YORK (Reuters) - Stocks swooned on Friday on concerns that surging inflation may prevent the Federal Reserve from lowering interest rates enough to pull the economy out of the grip of a housing and credit crisis.
WASHINGTON (Reuters) - Consumer prices rose the most in more than two years in November as energy costs surged and a host of other prices marched higher, damping prospects of further interest-rate cuts from the Federal Reserve.
LONDON (Reuters) - Top European central bankers expressed concern on Friday about the success of a concerted action plan to grease the wheels of seized-up money markets, as U.S. banking giant Citigroup faced fresh strife.
NEW YORK (Reuters) - One of the most talked-about books of the last two years was "The World is Flat," in which author Thomas Friedman argued that borders between countries were becoming less and less important.
TOKYO (Reuters) - Three Japanese banks that have been asked to provide $5 billion each to a subprime support fund planned by U.S. banks have balked at what they see as an unreasonably high figure, the Nikkei business daily reported on Saturday.
WASHINGTON (Reuters) - The Federal Reserve Board said on Friday it has scheduled an open board meeting on December 18 to discuss proposed rule changes on mortgage lending to address unfair and deceptive lending practices.
WASHINGTON (Reuters) - The Senate on Friday overwhelmingly passed legislation to expand the nation's largest federal homeownership program in a move that could help struggling subprime borrowers avoid foreclosure.
NEW YORK (Reuters) - Goldman Sachs said on Friday that Citigroup Inc's bonds were poised to outperform after its debt rating was cut and it unveiled a plan to rescue $49 billion of off-balance sheet investments.
NEW YORK (Reuters) - Securities regulators sued two former financial advisers at Morgan Stanley on Friday for defrauding at least 50 mutual fund companies and their shareholders.
