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NEW YORK: Amid growing concern that a power vacuum in Washington was contributing to the global financial crisis, shares of US banking giant Citigroup skidded yesterday.
NEW YORK (Reuters) - President-elect Barack Obama wants New York Federal Reserve President Timothy Geithner as his Treasury secretary, news that sparked a stock market surge on Friday and fostered confidence that Obama may be taking up the U.S. economic reins before his inauguration in January.
The Internet search market is showing signs of life. The best evidence of this perhaps is Google's own wiki-based enhancement to its search engine, Google SearchWiki. But does it work? In a hands-on test, yes. But the long-term implications are troubling.
By Doris Frankel
NEW YORK (Reuters) - President-elect Barack Obama will name New York Federal Reserve president Timothy Geithner as his Treasury Secretary, major media reported on Friday, sparking a late-day stock market rally and helping assuage concerns about a power vacuum in Washington.
U.S. stock futures spent another day see-sawing between positive and negative ground, after the morning started on a positive note stemming from a Wall Street Journal report that Citigroup's (C) board of directors was meeting to consider auctioning off parts of the bank...( Read More )
Gold traded mostly slightly higher in Asia and London before it soared higher throughout most of trade in New York and ended near its high of $801.10 with a gain of 5.74%. Silver traded about 1% on either side of unchanged in Asia and about 1% higher in London before it exploded higher in New York and ended near its high of $9.658 with a gain of 4.22%.
NEW YORK: House of Representatives Speaker Nancy Pelosi pledged support for a US stimulus package and aid for sputtering carmakers yesterday, stepping into a Washington power vacuum that analysts fear may be contributing to the global financial crisis.
Today, underwear concern Hanesbrands Inc. (HBI: sentiment, chart, options) received both a bearish downgrade and a bullish reiteration...( Read More )
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