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| Bus driver in fatal California crash is arrested
(AP)
Mon, 06 Oct 2008 18:00:45 GMT AP - The driver of a casino-bound charter bus that crashed and killed eight people was arrested on suspicion of driving under the influence of drugs, the California Highway Patrol said Monday. |
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| Treasury names rescue program chief
(Reuters)
Mon, 06 Oct 2008 17:56:12 GMT Reuters - The Treasury on Monday named Assistant Secretary for International Economics and Development, Neel Kashkari, as head of the $700 billion government program that will buy soured investments to help restore the financial markets to health. |
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| Ex-Goldman Sachs exec tapped to head bailout plan
(AP)
Mon, 06 Oct 2008 17:54:33 GMT AP - The administration has selected a former Goldman Sachs executive to be the interim head of its $700 billion rescue effort for financial institutions. |
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| AIDS pioneers, cancer scientist win Nobel prize for medicine
(Reuters)
Mon, 06 Oct 2008 17:53:34 GMT Reuters - Two French scientists who discovered the AIDS virus and a German who bucked conventional wisdom to find a virus that causes cervical cancer were awarded the 2008 Nobel prize for medicine on Monday. |
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| Wall Street tumbles amid global sell-off
(AP)
Mon, 06 Oct 2008 17:52:35 GMT AP - Financial markets took a bleak view of the future Monday, seeing contagion in a credit crisis that threatens to cascade through economies globally despite government efforts to provide relief. The Dow Jones industrials skidded more than 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain. |
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| Citi eyeing options to bolster Wachovia bid
(Reuters)
Mon, 06 Oct 2008 17:47:35 GMT Reuters - Citigroup Inc is eyeing options to bolster its bid for Wachovia Corp including an offer for the entire bank, a person close to the bank said on Monday. |
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| Oil drops $5 to below $89 on demand concerns
(Reuters)
Mon, 06 Oct 2008 17:46:29 GMT Reuters - Oil dropped more than $5 to below $89 a barrel on Monday on expectations the growing financial crisis will further slow already faltering global fuel demand. |
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| U.S. calls for unity as crisis wrecks markets
(Reuters)
Mon, 06 Oct 2008 17:43:39 GMT Reuters - Governments and central banks around the world grasped at measures to contain the fast-spreading financial crisis on Monday but global stocks still plummeted as investors bet a recession was inevitable. |
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| Deepening finance crisis causes global market panic
(AFP)
Mon, 06 Oct 2008 17:29:27 GMT AFP - Desperate new measures by governments in Europe and North America to stabilise the financial system failed to stop panic selling that swept global markets Monday amid deepening gloom at the scope of the banking crisis. |
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| Congress hears Lehman sought millions for execs
(AP)
Mon, 06 Oct 2008 17:10:46 GMT AP - Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday. |
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