Reuters - Citigroup and Merrill Lynch
said they would buy back billions of dollars of
illiquid auction-rate securities from retail clients, and
Citigroup agreed to pay a $100 million fine to settle charges
it fraudulently misled investors about the debt’s risk.
Reuters - The world faces a serious oil supply
crunch within five to 10 years that may drive prices up to more
than $200 a barrel, a British think tank said on Friday.
Reuters - Google Inc’s 5 percent
stake in Time Warner Inc’s AOL unit may be worth less
than the $1 billion the Web company paid for it in 2006, Google
warned in a regulatory filing on Thursday.
Reuters - General Motors Corp said on
Thursday it expects to spend $900 million over the next few
years to adjust its manufacturing capacity, including closing
plants and reducing output.
Reuters - Merrill Lynch & Co Inc said on
Thursday it will buy back its clients’ auction-rate securities
beginning next year, making the world’s largest retail
brokerage the latest to bail its customers out of the
securities.
AP - Treasury bond prices rebounded Thursday as investors sought safe-haven investments after a surprise jump in weekly unemployment claims and disappointing sales reports from retailers.