Stocks News

A day after S&P lowered its outlook on General Electric debt, the ratings agency is at it again with downgrades for 11 major U.S. and European banks.

WASHINGTON: Investors reeling from a roller coaster ride face a holiday-shortened trading week expected to see light trade and modest portfolio adjustments ahead of the new year.

BERNARD Madoff, the Wall Street fund manager who authorities say confessed to running a US$50 billion fraud, was put under 24-hour detention in his Manhattan apartment on Friday 'to prevent harm or flight'. ...

Specialists work on the floor of the New York Stock Exchange on Friday. With just seven trading days left, the benchmark SP 500 index is down 39.5% for the year, on pace perhaps to match Wall Street's ...

Ecuador's President Rafael Correa is assuring lenders that his country will pay back many of its loans even if it is backing away from debts it considers illegitimate.

Correa says Ecuador will meet its loan payments to multilateral organizations such as the Inter-American Development Bank. And he says it plans to meet most of its payments to Brazil's national development bank, despite a dispute over part of that debt.

Saturday's comments follow a wave of concern among investors due to Ecuador's announcement that it is halting interest payments on some of its bonds.

Economic cycles are Darwinian, picking off weak companies and leaving survivors stronger.

Citizens Financial Group says it is laying off 900 employees. Mike Jones, a spokesman for the financial services company, said the employees received layoff notices on Friday.

The dollar rose against major currencies Friday after the U.S. government announced a rescue plan for the auto industry and Japan's central bank cut its key rate.

The credit crunch will last for up to two more years, the boss of Barclays Bank believes.

Gold prices falter as dollar strengthens Comments NEW YORK - Gold prices declined Friday, as the dollar gained further strength against other major currencies, including the euro and the British pound.