Paulson lays out rescue-plan shift to consumers

Date: Wed, 12 Nov 2008 12:01:13 -0500
Paulson lays out rescue-plan shift to consumers

Treasury Secretary Henry Paulson offers his plans for the next stage
of the financial market rescue package, announcing he has shelved a
plan to buy troubled mortgage assets and is moving his attention to
non-banks and consumer finance.

STOCKS DROP IN EARLY TRADING AS BEST BUY ADDS TO GLOOM

U.S. stocks extend losses into a third day, as investors fret about
ailing financial and auto sectors and Best Buy Co. Inc. lowers its
outlook, offering further evidence of weak consumer spending.

BEST BUY FLAGS UNEXPECTED PROFIT DROP AS CONSUMERS CUT BACK

Best Buy Co. cuts its fiscal 2009 outlook because of a fast-paced
meltdown in consumer spending since the end of summer.

MACY'S SWINGS TO LOSS, CUTS CAPITAL SPENDING

Hurt by consumers curtailing their discretionary spending, Macy's
posts a third-quarter loss as the department-store operator also says
it plans to slas hcapital spending. But shares gain as management
stands by its projection for

AMEX ASKS U.S. FOR $3.5 BILLION: WSJ

American Express Co. is the latest company to seek U.S. government
help to steer it through the financial crisis, according to a story
Wednesday in The Wall Street Journal.