Fed expands auction, accepts wider collateral to boost liquidity

Date: Fri, 02 May 2008 16:01:04 (GMT)
Fed expands auction, accepts wider collateral to boost liquidity

The Federal Reserve and other central banks are increasing the funding
they provide to banks. The Fed also says that, for the first time, it's
willing to accept bonds backed by auto loans and credit cards.

Market Snapshot: U.S. stocks extend gains into second day on jobs data,
Fed move

U.S. stocks jump higher in early trade, adding to the prior day's
rally, after the government reports far fewer job losses than expected
in April, and the Federal Reserve widens the funding it offers to
banks.

Economic Report: April U.S. nonfarm payrolls shed 20,000 jobs

Job losses decelerate in April, suggesting that the nation's economic
downturn may be short and shallow rather than long and severe.

Buffett gets crisis to invest cash as annual meeting looms

SAN FRANCISCO
Berkshire Hathaway, the insurance focused conglomerate run by
billionaire Warren Buffett, has been sitting on more than $40 billion in
cash since 2004.