4 Keepz

Consumer credit rose $14.33 bln in June (Reuters)

Thu, 07 Aug 2008 19:52:14 +0000

Reuters - U.S. consumer credit expanded at the
fastest rate in seven months in June as Americans turned to
credit cards and consumer loans to maintain spending in the
face of rising food and energy costs, a government report on
Thursday showed.

Original post by Reuters

Market extends losses on oil and financials (Reuters)

Thu, 07 Aug 2008 19:48:19 +0000

Reuters - Stocks extended losses on Thursday, as
oil prices added to gains and financials fell further after
Moody’s Investors’ Service said it may downgrade American
Express’ credit rating.

Original post by Reuters

Consumer credit rose $14.33 billion in June (Reuters)

Thu, 07 Aug 2008 19:05:06 +0000

Reuters - Cconsumer credit expanded at the
fastest rate in seven months in June as Americans turned to
their credit cards to keep up spending in the face of rising
food and energy costs, a report on Thursday showed.

Original post by Reuters

Consumers jack up borrowing in June (AP)

Thu, 07 Aug 2008 19:03:18 +0000

AP - Consumers fortified by the government’s rebate checks boosted their borrowing in June at the fastest pace in seven months.

Original post by AP

Wal-Mart and AIG drag Wall Street lower (Reuters)

Thu, 07 Aug 2008 19:00:53 +0000

Reuters - Stocks fell on Thursday after a big
loss from insurer American International Group revived worries
about the credit crisis and retailers fell after Wal-Mart
gave a cautious August sales outlook.

Original post by Reuters

Vonage’s subscriber growth grinds to a halt (AP)

Thu, 07 Aug 2008 18:43:03 +0000

AP - Vonage Holdings Corp.’s subscriber growth nearly ground to a halt in the second quarter, as the Internet telephone company said Thursday it gained just 2,000 lines in the period.

Original post by AP

Ex-Refco president sentenced to 10 years in prison (Reuters)

Thu, 07 Aug 2008 18:35:18 +0000

Reuters - Tone Grant, former president of Refco,
once the largest independent commodities broker, was sentenced
to 10 years in prison for his role in a $2.4 billion fraud that
involved hiding huge trading losses from clients.

Original post by Reuters

AIG, Wal-Mart weigh on Wall Street (Reuters)

Thu, 07 Aug 2008 18:20:20 +0000

Reuters - Stocks fell on Thursday as insurer
American International Group and Citigroup weighed on the
financial sector, while lower-than-expected July sales by
Wal-Mart Stores Inc raised concerns about consumer spending and
profit outlook.

Original post by Reuters

Citigroup to return $7 billion to auction-rate investors (Reuters)

Thu, 07 Aug 2008 18:10:20 +0000

Reuters - Citigroup Inc agreed to buy back
more than $7 billion of illiquid auction-rate securities and
pay a $100 million civil fine to settle charges it fraudulently
misled investors about the debt’s risk.

Original post by Reuters

Nasdaq turns positive as oil cuts gains (Reuters)

Thu, 07 Aug 2008 17:38:25 +0000

Reuters - Stocks cut losses on Thursday, sending
the Nasdaq into positive territory, as big-cap technology
shares such as Intel gained more than 5 percent, and U.S. crude
oil prices trimmed gains.

Original post by Reuters