Yahoo! News: Business
Credit jitters sink stocks at open (Reuters)

A man monitors stock market prices in Taipei October 6, 2008. (Pichi Chuang/Reuters)Reuters - Stocks slid at the open on Monday as widening fallout from the credit crisis fueled concerns about the economy and the profit outlook.



Fed to boost auctions, pay interest on reserves (Reuters)

Reuters - The Federal Reserve on Monday announced a series of steps to funnel massive amounts of liquidity through clogged credit markets, including boosting the sizes of cash auctions and offering banks interest on reserves.


Governments struggle to stem financial crisis (Reuters)

German Finance Minister Peer Steinbrueck arrives for a party board meeting of the German Social Democratic party (SPD) in Berlin October 6, 2008. (Johannes Eisele/Reuters)Reuters - More European governments followed Germany's lead on Monday offering guarantees to savers in a frantic effort to calm fears among investors over the worst financial crisis in nearly 80 years.



EBay to cut 10 percent of jobs (Reuters)

John Donahoe, eBay President and Chief Executive Officer delivers the keynote address during the annual meeting of shareholders and auction sellers in Chicago, Illinois June 20, 2008. (Frank Polich/Reuters)Reuters - EBay Inc plans to cut its work force 10 percent and sees third-quarter revenue hitting the low end of its forecast, though profit will exceed expectations, the online auction Web site said on Monday.



Oil falls to 8-month low below $90 a barrel (Reuters)

General view of the Tema oil refinery near Ghana's capital Accra in this file photo from March 28, 2005. (Yaw Bibini/Reuters)Reuters - Oil fell below $90 a barrel on Monday to its lowest level in eight months, pressured by expectations that the global credit crisis will bring a sharp fall in oil demand.



Investors expect volatility as credit woes persist (AP)

Trader David O'Day works on the floor of the New York Stock Exchange before the closing bell, Friday  Oct. 3, 2008. Stocks ended a volatile week with another sell-off Friday while credit markets remained strained after enthusiasm over the government's $700 billion financial rescue plan gave way to worries about obstacles still facing the economy. (AP Photo/Richard Drew)AP - The world's financial markets face an uncertain and possibly volatile week as investors await details about how the Treasury will implement the government's financial rescue package — and watch for any further fallout from the credit crisis around the globe.



Credit crisis adds to pressures on auto dealers (AP)

Ford Mustangs sit on the lot of a new car dealership in July 2008. US auto sales took a beating in September as financial turmoil on Wall Street emptied dealer showrooms and major automakers reported sales drops of up to 37 percent Wednesday.(AFP/Getty Images/File/Scott Olson)AP - Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan.



Family Dollar profit tops estimates (Reuters)

Reuters - Family Dollar Stores Inc posted a higher-than-expected quarterly profit on Friday, helped by shoppers who spent tax rebate checks at the discount retailer and by closely controlling costs.