Investors cheer the Treasury Department’s plan to take control of the battered mortgage companies. But tech and commodity stocks continue to sell off. Crude oil moves up slightly as the Gulf Coast awaits Hurricane Ike. OPEC meets Tuesday.
Volkswagen’s Winterkorn tried to play down tensions between VW labor unions and Porsche, calling Porsche’s takeover plan “welcome.”
BHP’s CEO said he expects European regulators will resume reviewing the proposed Rio Tinto deal within weeks.
British producer prices fell in August, which may lead the Bank of England to cut rates if inflation keeps easing.
Hartford Financial Services Group plans to sell variable annuities early next year in Germany, a market expected to experience increasing competition.
MUFG aims to spend more than $1.4 billion to lift its stake in Acom, in a move to beef up the Japanese bank’s operations in consumer finance.
Wells Fargo said it will take a third-quarter write-down on its investments in securities issued by Fannie Mae and Freddie Mac.
The ELS guide is a Tax Office publication provided for tax agents and other users of the electronic lodgment service (ELS). The ELS guide has been updated since July 2008.
Financial markets in Asia rally after the US government said it was taking over mortgage giants Freddie Mac and Fannie Mae.
The British pound could be in for a prolonged slide amid investor worries about the U.K.’s ability to manage a sharp economic downturn.