U.S. stocks slammed by big AIG loss

Date: Fri, 09 May 2008 12:02:56 -0400
U.S. stocks slammed by big AIG loss

U.S. stocks tumble as the financial sector spouts more leaks after
American International Group Inc. reports a $7.8 billion loss and
Citigroup Inc. unveils plans to shed about half a trillion dollars in
assets.

Commodities Corner: Consumers feed run on rice

It was quite the scene at Costco when the wholesaler placed signs above
a brand new shipment of rice: "limit two bags." Fears may prompt
hoarding, but analysts say the cyclone that hit Myanmar may cause a real
shortage.

Diageo to spend $1 billion in Irish brewery revamp

Diageo plans to spend about $1 billion to revitalize a famed Dublin
brewery that makes Guinness and to build a second facility.

Citigroup aims to eliminate $500 billion in non-core assets

Citigroup unveils plans to reduce its asset base by about $500 billion
over the next several years in a bid to shore up its capital base and
rid itself of riskier investments.

Futures Movers: Oil futures touch an all-time high above $126 a barrel

Crude-oil futures blitz past $126 a barrel, poised to score a weekly
gain of more than 7% with strong demand for diesel fuel and concerns
about global crude supplies sending prices to a fresh all-time high.