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Lehman deal on private equity close: source (Reuters)

08-01-2009 21:13

The Lehman Brothers booth on the trading floor of the New York Stock Exchange, September 16, 2008. (Brendan McDermid/Reuters)Reuters - Lehman Brothers Holdings Inc has reached an agreement in principal to sell its merchant banking business, made up of two private equity funds, to management of the funds, a source familiar with the situation said on Thursday.

Recession more severe than thought: Fed's Rosengren (Reuters)

08-01-2009 20:32

Reuters - The U.S. recession looks to be longer and more severe than originally thought, but there are signs that the economy will improve in the second half of 2009, a top Federal Reserve official said on Thursday.

Palm's new phone and operating system ignite shares (Reuters)

08-01-2009 20:25

The Palm website is seen on the Palm Pre smartphone at the annual Consumer Electronics Show (CES) in Las Vegas, Nevada January 8, 2009. Palm Inc took the wraps off its overhauled mobile operating system and introduced the Pre touch-screen phone, hoping the move can help it win back customers from rivals like Nokia and Apple. Shares of Palm jumped more than 15 percent to $3.80 on the news. (Rick Wilking/Reuters)Reuters - Palm Inc overhauled its mobile operating system and introduced a new touch-screen phone, sending its shares soaring 35 percent as investors hoped the moves can help win back customers from rivals such as Apple Inc .

Citi backs measure to help avoid foreclosures (Reuters)

08-01-2009 20:12

People taking the Long Island Foreclosure Tour arrive at a foreclosed home for sale in New Hyde Park, New York in this May 17, 2008 file photo. Citigroup could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said on Thursday, while industry groups are easing their opposition to the plan. (Shannon Stapleton/Reuters)Reuters - Financial giant Citigroup Inc will support a proposal in Congress to rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, Chief Executive Vikram Pandit said on Thursday.

Fed's Rosengren says recession more severe than thought (Reuters)

08-01-2009 19:22

Reuters - The U.S. recession looks to be longer and more severe than originally thought, but there are signs that the economy will improve in the second half of 2009, a top Federal Reserve official said on Thursday.

Chevron sees big drops in Q4 production and earnings (Reuters)

08-01-2009 18:59

A Chevron Corporation gasoline tank truck delivers gas to a Chevron service station in Redondo Beach, California August 10, 2005. (Fred Prouser/Reuters)Reuters - Chevron Corp expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower energy prices on its exploration and production business.

Stores' dismal December means prices should fall (AP)

08-01-2009 18:27

Pedestrians walk past Generations Menswear on 8th Ave. in New York Wednesday, Jan. 7, 2009. Retailers are reporting dismal sales for December, confirming fears that the holiday season was the weakest in four decades.  (AP Photo/Craig Ruttle)AP - Dismal sales figures for the holiday shopping season are probably a sign of worse to come for merchants in 2009 — not only more sharp discounts and cheaper groceries but probably fewer stores.

Considering dumping a mutual fund? Think twice (AP)

08-01-2009 17:46

AP - Fiscal fitness is knocking weight loss off the top of many New Year's resolution lists, thanks to 2008's market drubbing. That often means casting off last year's worst-performing mutual funds for more promising alternatives.

Citi backs Senate mortgage bankruptcy reform: senators (Reuters)

08-01-2009 17:32

People taking the Long Island Foreclosure Tour arrive at a foreclosed home for sale in New Hyde Park, New York in this May 17, 2008 file photo. Citigroup could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said on Thursday, while industry groups are easing their opposition to the plan. (Shannon Stapleton/Reuters)Reuters - Financial giant Citigroup Inc has agreed to support a controversial rewrite of U.S. bankruptcy law aimed at helping troubled mortgage borrowers avoid foreclosure, lawmakers said on Thursday.

Chevron sees major drop in 4th-quarter earnings (Reuters)

08-01-2009 17:21

A Chevron Corporation gasoline tank truck delivers gas to a Chevron service station in Redondo Beach, California August 10, 2005. (Fred Prouser/Reuters)Reuters - Chevron Corp expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower oil and gas prices on its upstream business.

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