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business - "credit"
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Former high-tech manager sentenced for credit card chargesThe former travel manager for a Silicon Valley high-tech firm is facing a one-year prison term for charging her son's private school tuition and tens of thousands of dollars worth of other person expenses on her company credit card. Bernadette Escue, 42, of...
Citigroup to shed $425bn of assetsCITIGROUP said overnight it plans to shed $USUS400 billion ($US425 billion) of assets within three years and boost revenue by up to 10 per cent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.
Mortgage losses could hit $531bnGOLDMAN Sachs economists expect a total of $US500 billion ($531 billion) in residential mortgage credit losses and a renewed slowdown in economic activity after.
AIG sees no signs of mortgage asset market rebound yet'The big issue is the credit swap business, and they do not have any control over market prices.' American International Group , after disappointing with a worse-than- expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the ... via WNED.org
Market Snapshot: U.S. stocks decline on credit turmoil; weekly losses of 1% plusU.S. stocks tumble, with the major indexes headed towards weekly losses, as the financial sector spouts more leaks after American International Group Inc. reports a $7.8 billion loss and Citigroup Inc. unveils plans to shed about half a trillion dollars in assets.
Wall Street falls as oil hits new highsUS stocks were lower in a week during which continuing concerns about oil prices, inflation and credit markets outweighed strong sales figures from several retailers and encouraging economic data
Stocks decline as AIG reveals need for cash, oil surges (AP)AP - wall street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and surging energy prices. All three major indexes suffered losses for the week.
Auto parts supplier Delphi reports wider loss (AP)Auto parts maker Delphi Corp. reported Friday that it lost more money in the first quarter than it did a year ago, but that an expanded credit line will still allow it to emerge intact from bankruptcy protection.
Overview: Record oil dents sentimentOil prices reached yet more record highs, while concerns over slowing growth and a worsening of credit conditions drove investors to seek havens from risk this week
US stocks fall amid credit turmoilWall street ended the week with a big decline as investors grappled with two of the biggest threats to the us economy: fallout from turmoil in the credit market and surging energy prices.Insurer Ameri... bignewsnetwork.com Friday, May 09, 2008
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Archived "business - credit" news stories.
 Available news archives.
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