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Toronto stocks dive as commodities retreat. The Toronto Stock Exchange's main index fell nearly 7 percent on Thursday to its lowest level in more than two years, battered by concerns over the outlook for fertilizer producers and a drop in oil and gold prices. Wachovia soars on news of Wells Fargo merger. Shares of Wachovia Corp jumped 64 percent to $6.42 before the bell on Friday after news that the bank had agreed to merge with Wells Fargo & Co. Congress passes bailout, focus shifts to fallout. The U.S. government enacted a landmark $700 billion bank bailout on Friday, but investors questioned whether it could contain a panic that began on Wall Street and spread to become a global financial crisis. Stocks end lower amid worries after House OKs plan. In the end, congressional approval of the governments $700 billion financial rescue plan Friday did little to lift the financial markets from their growing dejection over the obstacles still facing the economy. Wall Street ended an intensely volatile week with the Dow Jones industrials falling 157 points and the major indexes all suffering big losses. Asian stocks slide as Europe's financial crisis deepens. Asian stock markets suffered another mauling in early trade on Monday as doubts grew about whether a Wall Street bailout package will stem the global financial crisis, dealers said. Stocks sink, yen surges as crisis intensifies. Asian stocks fell 4 percent on Monday and the yen surged to a 2-year high against the euro as investors doubted the scattered European response to the financial crisis and the $700 billion U.S. bank bailout could prevent a global recession. CEO of failed WaMu, 5 others leaving. The CEO of failed Washington Mutual and five other senior executives are leaving their positions soon. Earlier talks with Citigroup have broken off. Wells Fargo says it is acquiring Wachovia in an all-stock transaction worth about $15.1 billion, as Wachovia ends talks with rival suitor Citigroup. WaMu faces first Chapter 11 hearing. Lawyers for Washington Mutual Inc. and its bondholders stood before a Delaware bankruptcy court judge on Friday to tussle over assets - including $5 billion in cash - and set timelines for the organized demise.. AIG plans sale of business units to repay debt. The insurer American International Group Inc. said Friday it plans to sell off a number of business units to pay off its massive government loan. German government in crisis talks on bank. Germany's Finance Ministry convened crisis talks Sunday to find a new way to keep Hypo Real Estate AG afloat after a $48.4 billion bailout plan for the DAX blue-chip company unraveled over the weekend. A Class-Action Settlement for Nearly Every Consumer. In a class-action settlement, the credit bureau TransUnion has agreed to provide free credit-monitoring services to millions of consumers to settle claims that it illegally passed along private information for marketing purposes. Six Asset Classes, If by Sea, Air and Road. Robert J. Froehlich wants to mess with the minds of investors. For years, there have been just three main asset classes: stocks, bonds and cash. Two other investment options -- commodities and real estate -- are in the mix as alternative asset classes. Now Froehlich, the chief investment strategi.. What the WaMu Collapse Means for Its Customers. I have an account with Washington Mutual. What changed when the FDIC put the bank into receivership?. 6 Things To Do While The World Ends. While Nancy Pelosi is blaming our financial meltdown on Republicans, and Republicans are getting even by voting down the $700-billion financial-bailout package -- and while panicked investors react to the congressional backstabbing by sending the Dow Jones industrial average down a frightening 778.. An Unbelievable Yield. Telephone reps at mutual fund companies usually read from a script. Not the fellow I got Monday afternoon on Vanguard's line, name of Irwin. He was a live wire, speaking extemporaneously and with enthusiasm when I asked whether it's true that Vanguard Tax Exempt Money Market Fund.. Buy in Times of Pessimism. I won't mince words: If I could buy just one mutual fund, it would be Selected American Shares. Chris Davis, one of Selected's co-stewards, is one of the wisest stock pickers in the fund business, and his words are worth heeding. And right now, Davis says, is a good time to buy.. Buffett Sees the Light in GE. Some stocks are labeled bellwethers for good reason. General Electric, the huge conglomerate whose reach extends into industry, health care, media and financial services, has long been considered a barometer for the economy. These days, for better or worse, the company is emblematic of the problems.. In Absence of Data, Time to Reflect. No major data are being released this week, giving investors time to digest the stunning recent bout of market upheaval, political action and economic reports. On Tuesday, the Federal Reserve will release minutes of its latest policymaking meeting, which occurred Sept. 16. It should give insight.. When Unequal Bequests Are the Right Thing to Do. Q I am an elderly widow, and my three grown children live nearby. My older son and daughter and their families, although cordial, don't take much interest in me or my need for help with many tasks around the home. The third, my younger daughter, has always been very attentive, with no prompting, as.. |
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