U.S. stock mostly lower on Fannie, Freddie woes

Date: Thu, 10 Jul 2008 12:03:27 -0400
U.S. stock mostly lower on Fannie, Freddie woes

Wall Street trades mostly lower as worries about what might be in store
for government-sponsored mortgage buyers Fannie Mae and Freddie Mac cast
a fresh shadow across the stock market.

Bank of England leaves key rate unchanged at 5%

Caught between a softening economy and soaring inflation, the Bank of
England keeps its key interest rate unchanged at 5%.

Economic Report: Initial jobless claims fall 58,000 to lowest since
April

U.S. initial jobless claims fell to their lowest level since April in
the latest week, but continuing unemployment claims reach a level not
seen since December 2003, government data show.

Dow Chemical to buy Rohm & Haas for $15 billion

Dow Chemical agrees to buy Rohm & Haas for $15 billion, in what it
called a "decisive move" to increase the chemical giant's profit and
help end its cyclicality.

Steve & Barry's bankruptcy deals another blow to malls

NEW YORK
U.S. mall owners, already facing declining sales and traffic at anchor
department stores, were dealt yet another blow Wednesday with the
bankruptcy of once fast-growing retailer Steve & Barry's.