Tuesday, November 11, 2008

Top financial stories as at 11th Nov 08

Fannie's loss: $29 billion
Continued problems in housing market continue to drag down government-controlled mortgage finance giant.

AIG: Uncle Sam's do-over
Fed restructures loan and creates 2 programs to rescue insurance giant from bad bets. Treasury buys $40 billion in shares. AIG quarterly loss: $25 billion.

Circuit City to stay open in bankruptcy
Beleaguered No. 2 electronics retailer urges budget-conscious consumers not to shun its stores for holiday gifts

DHL cuts 9,500 U.S. jobs
Delivery firm to end U.S.-only operations, will continue shipments to other countries.

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