Filed Under (Business News) by Fred Chan on 01-03-2009
U.S. bank regulators closed two more banks on Friday (27 February 2009), the 15th and 16th banks to fail this year, as the worsening recession pulled more regional banks underwater.
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Filed Under (Business News) by Fred Chan on 01-03-2009
General Electric said Friday that it plans to cut its dividend by 68%, to 10 cents from 31 cents a quarter, a move the conglomerate says should save it $9 billion a year.
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Filed Under (Stock Market) by Fred Chan on 01-03-2009
Wall Street stocks tumbled Friday (27 February 2009) on worries about the government taking a bigger chunk of Citigroup and a bleak reading on the economy, again touching 12-year lows.
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