Wednesday, January 02, 2008
U.S. stocks decline amid worries about economy
U.S. stocks decline amid worries about economy
U.S. stocks on Wednesday extended the prior session's losses into the
new year after a key gauge of manufacturing activity showed continued
weakness in the sector and rising energy prices added to market
uncertainty.
Futures Movers: Oil contract rises 2% on supply concerns, violence in
Nigeria
NEW YORK
Crude-oil futures surged to trade near $98 a barrel on Wednesday,
propelled higher by expectations of another drawdown in weekly U.S.
crude supplies as well as by a fresh outbreak of violent clashes
reported in oil-rich Nigeria.
National City slashing dividend, laying off 900 staffers
NEW YORK
National City Corp said Wednesday that it's cutting its quarterly
dividend in half, laying off 900 mortgage-services workers and moving to
bolster capital as it becomes the latest bank to feel the pain of the
subprime-mortgage debacle.
Qualcomm eyes 'workarounds' as Broadcom wins patent order
NEW YORK
Qualcomm Inc. warned Wednesday that it expects an "immediate, short-term
impact" to result from a federal court's ruling that it must stop
producing and marketing wireless-phone chips and software that infringe
three Broadcom Corp. patents.
Election Notebook: Obama and Huckabee hold leads on eve of Iowa
caucuses: poll
WASHINGTON
It's looking like it could be a happy New Year for Barack Obama: The
Illinois senator is leading closest rival Hillary Clinton in a new poll
with just one day to go before the critical Iowa caucuses.
