Wednesday, March 26, 2008
U.S. stocks in broad slide as economic worries mount
U.S. stocks in broad slide as economic worries mount
U.S. stocks tumble as an unexpected slide in February factory orders
reignites worries about the economy and news that a buyout of Clear
Channel Communications Inc. might be in jeopardy also weighs on
sentiment.
Economic Report: Demand for durable goods falls 1.7% in Feb.
Demand for machinery and other capital goods sank in February, driving
orders for durable goods down 1.7%, the Commerce Department reports.
Economic Report: New-home sales fall to 13-year low in February
Sales of new homes in the United States fell to a 13-year low in
February, dropping 1.3% to a seasonally adjusted annual rate of 590,000,
the Commerce Department estimates.
Ford to sell Jaguar Land Rover to India's Tata for $2.3 billion
Ford Motor Co. agreed to sell its Jaguar Land Rover operations to
India's Tata Motors for $2.3 billion and will contribute as much as
$600 million to the unit's pension plan.
Motorola plans to split in two; Icahn said not a factor in move
Motorola Inc. said its board of directors has approved a plan to break
the conglomerate into two independent, publicly traded companies in the
face of growing pressure to shore up its ailing stock price.
