December drop caps worst housing year in decades

Date: Thu, 24 Jan 2008 17:06:04 (GMT)

December drop caps worst housing year in decades

Resales of U.S. homes fall 2.2% in December to a seasonally adjusted
annual rate of 4.89 million, the lowest in nine years.

SocGen takes $7.1 billion loss on rogue trades

French banking group Societe Generale said Thursday it has uncovered a
massive 4.9 billion-euro ($7.1 billion) fraud linked to a single rogue
futures trader.

Sovereign wealth funds inspire fear, gratitude at Davos

It's hard to find anyone unhappy with the decision of sovereign wealth
funds to provide tens of billions of dollars to shore up U.S. and
European banks ravaged by the subprime mortgage crisis.

U.S. stocks retain gains as jobless claims fall

U.S. stocks hold onto early gains, bolstered by a decline in weekly
jobless claims and positive earnings from AT&T Inc., Nokia Corp. and
Lockheed Martin Corp.

Ford narrows quarterly loss, prepares further cost reductions

SAN FRANCISCO
Ford Motor Co. said Thursday that further progress in its restructuring
efforts led to a narrower fourth-quarter loss, but the car maker said
more cuts are needed to help it reach its target profitability goal amid
the slowing U.S. economy.