U.S. stocks end sharply off on trouble in financial sector

Date: Mon, 02 Jun 2008 17:04:23 -0400
U.S. stocks end sharply off on trouble in financial sector

U.S. stocks extend their first decline in five sessions as Standard &
Poor's cuts its debt ratings on three large brokerages, adding to
earlier losses stemming from upheavals at Wachovia Corp. and Washington
Mutual Inc.

The Fed: Too soon to breathe easy, Lockhart says

The president of the Federal Reserve Bank of Atlanta sounds some
reassuring notes on the outlook for the nation's economy.

Subprime mortgage mess claims another bank CEO

Ken Thompson, chief executive of Wachovia Corp., on Monday became the
latest CEO casualty of the U.S. housing downturn and related fallout
from the subprime mortgage crunch.

China Telecom pays $15.9 billion for Unicom's CDMA assets

China Telecommunications Group, China's largest fixed-line operator, has
agreed to pay the equivalent of $14.4 billion)to acquire the
CDMA-cellular-network assets of China Unicom Group, part of a sweeping
overhaul of the mainland's telecom industry.

Wind-energy leaders call on Washington for help

Wind-energy leaders meeting at the biggest-ever industry conference call
on the federal government to both extend federal tax credits and pave
the way for more grid infrastructure to help the United States tap into
this vast, clean form of power.