GE to sell $12 billion in stock; Buffett to take stake

Date: Wed, 01 Oct 2008 17:04:05 -0400
GE to sell $12 billion in stock; Buffett to take stake

General Electric Co., its financial business stung by a growing credit
crisis worldwide, says it is launching a stock offering to raise $12
billion in cash and conducting a private deal with billionaire investor
Warren Buffett.

Market Snapshot: U.S. stocks end down slightly amid bailout uncertainty

Stocks are mostly lower even as they come off earlier lows, with markets
entering the first session of the fourth quarter still on edge over
whether Congress will pass the controversial $700 billion
financial-sector bailout package.

Rescue plan appears headed for passage in Senate

Lawmakers express optimism about the passage of a rescue plan for the
financial markets ahead of a scheduled vote in the Senate, just two days
after the plan went down in flames in the House of Representatives and
with stock markets on edge.

Obama opens lead in three key swing states

The economic crisis and a well-received debate performance have given
presidential candidate Barack Obama a sizable lead in the three critical
swing states of Pennsylvania, Ohio and Florida, according to a new
poll.

Wal-Mart cuts toy prices to boost early Christmas shopping

NEW YORK
Wal-Mart Stores Inc. said it will cut prices on some of the most popular
toys and speed up the opening of Christmas shops in its stores
nationwide as it tries to lure budget-conscious shoppers and jump start
its biggest selling season,.