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Stocks Brace For New President Amid Earnings Deluge
The inauguration of President-elect Barack Obama might be the only boost for Wall Street next week, as a deluge of what are expected to be mostly bad corporate results and fresh reports on the state...
bignewsnetwork.com

U.S. government mulls state-run `bad bank,` WSJ reports
SAN FRANCISCO (MarketWatch) -- The U.S. government is considering new ways to steady the financial system, including the possible creation of a state-run 'bad bank' that would buy troubled assets from struggling lenders, the Wall Street Journal reported late Friday. Officials at the Treasury, Federal Reserve and Federal Deposit Insurance Corp., in consultation with the incoming Obama administration, are discussing a range of options because they realize the banking crisis is larger than originally thought, the newspaper explained. Another possible solution would standardize efforts to have the government guarantee banks' assets against further losses, the Journal added.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com

Citi splitting in two - $8.3B loss
Citigroup reported a much bigger-than-expected $8.3 billion quarterly loss Friday, while the beleaguered bank also revealed plans to split up into two businesses, effectively bringing an end to the company's 'financial supermarket' model.
CNN Money

Urban poor burden Obama with unlimited hope
Expectation runs unbridled among those most hurt by the housing bubble and job losses, reports John Reed
Financial Times

Report: Layoffs looming at Clear Channel
The radio and billboard company with the largest presence in Tampa could scale back operations and lay off employees, according to a report Friday that Clear Channel Communications Inc. is looking to shed about $400 million in costs.
Bizjournals.com

Big losses intensify turmoil for banks
The turmoil in global banking intensified as Citigroup and Merrill Lynch - owned by Bank of America - reported huge losses and shares in Britain's Barclays plummeted amid fears it might need more capital
Financial Times

Gold Glitters While SP 500 Sags
Some volatility this week. The fun continues. The Commitments of Traders report this...
Mr. Swing

Merrill`s loss puts BofA`s federal aid into context
Bank of America reported a loss of $2.4bn in the fourth quarter and disclosed that Merrill Lynch, which it acquired this month, lost $15.5bn separately in the same period
FT.com

UPDATE 1-Microsoft CEO and Yahoo Chairman have met - reports
SAN FRANCISCO, Jan 16 (Reuters) - Microsoft Corp chief executive Steve Ballmer and Yahoo Inc ChairmanRoy Bostock met in New York this week, according to mediareports.
Reuters

Microsoft CEO and Yahoo Chairman have met - NYT
SAN FRANCISCO, Jan 16 (Reuters) - Microsoft Corp chief executive Steve Ballmer and Yahoo Inc ChairmanRoy Bostock met in New York this week, the New York Timesreported on Friday, citing a person briefed on the meeting.
Reuters

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