Investor's Business Daily - Investors trying to come to grips with a sharp market sell-off yanked $44.84 billion from stock funds in January, reversing December's inflow of $2.17 billion, according to the Investment Company Institute.
More than 20 top execs have lost more than $100 million as the value of their companies' stock has tumbled. Six have lost at least $1 billion.
AP - The agriculture secretary on Thursday resisted calls from Democratic senators for a complete ban on so-called downer cattle those unable to walk from entering the food supply.
FT.com - Yell was hit by heavy selling again Thursday after a US rival reduced its earnings forecast because of the weakening domestic economy.
Posted by Charley Blaine and Elizabeth Strott in
Uncategorized (Thursday February 28, 2008 at
2:05 pm)
Stocks slump as investors worry that economic growth will be anemic. Financial stocks fall after Fed boss Bernanke says he expects some smaller banks to fail. Dell and AIG earnings disappoint, but Apple jumps more than 6% on hopes for big iPhone sales.
Reuters - Brokerages, including units of Merrill
Lynch & Co and UBS AG , have agreed to pay
$2.4 million in fines and reimburse more than $20 million to
customers to settle probes into improper mutual fund sales and
transfers, the Financial Industry Regulatory Authority said on
Thursday.
FT.com - Rentokil Initial led the FTSE 100 lower on Thursday after a profit warning, while rumours that a London-based hedge fund was in trouble added to nervousness.
FT.com - Rentokil Initial led the FTSE 100 lower on Thursday after a profit warning. Rumours that a London-based hedge fund was in trouble added to nervousness.
AP - Stocks sank Thursday as investors fretted over a rise in unemployment claims and the prospect of more bank failures. The Dow Jones industrial average fell 112 points, breaking its four-day winning streak.
AFP - UK blue chips closed sharply lower today, down over 100 points as the DJIA also posted triple-digit falls following some disappointing US data, with a batch of corporate results a depressant, notably for Rentokil Initial.
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