Greenspan: Banks weather recession with strong balance sheets
Federal Reserve Chair Alan Greenspan said U S banks with solid balance sheets and diversified funding weathered the recession. He cited improved risk management and previous consolidations as key factors, noting consumer loans and mortgages helped offset business-sector losses.
MENTIONED IN THIS ARTICLE
Washington
U.S
Federal Reserve
Alan Greenspan
Greenspan
American Bankers Association
Phoenix
WorldCom executive pleads guilty to security fraud
Buford Yates, 46, former WorldCom accounting chief, pled guilty to securities fraud and conspiracy, admitting he followed orders to misreport expenses to inflate earnings by 5 billion dollars from 2000 to 2002. He cooperates against top executives, with sentencing set for January 9 and a potential ten-year term and fines.
MENTIONED IN THIS ARTICLE
Second WorldCom
New 2Ornary
WorldCom
Buford Yates
Yates
Scott Sullivan
U.S
Duage
Andrew Fock
Aness
Securities and Exchange Commission
Peck
SEC
David Myers
Jedgers
David Schertler
WorldCom Management
Schertler
Bernard Ebbers
Ebbers
Betty Vinson
Troy Normand
Sullivan and Myers
Winter heat costs rise as oil and duties bite
Expected colder weather, higher oil prices, and a stronger economy could push BNEF initial customers to pay 100 to 300 dollars more to heat homes this winter than last. The Energy Information Administration foresees a 19 to 25 percent cost rise depending on fuel type amid rising fuel prices and demand.
MENTIONED IN THIS ARTICLE
Energy Department
The
Energy Information Administration
Sears profit warning sours market mood on Wall Street
Investors sold stocks for a fourth straight session after Sears issued a profit warning. Dow fell 105.56 to 7422.84, Nasdaq slid 20.50 to 1119.40, and S&P 500 dropped 15.30 to 785.28 as six straight weeks of declines continued amid port shutdowns and war jitters.
MENTIONED IN THIS ARTICLE
New York
Sears
Wall Street
Iraq
Bill Barker
RBC Daii Rauscher
Dallas
Dow
Standard & Poor
Dollar gains against yen as euro climbs in world markets
The dollar hits a three month high versus the yen amid Japan reform worries and a fragile recovery, while the euro jumps to a three year high against the yen. German orders impress and U S stocks slip, with labor disputes at West Coast ports adding to market volatility. Bush forms a panel on talks and Iraq war jitters linger as Sears and logistics stocks tumble. Intel and Coors rise on upgrades, but overall market breadth stays weak with advancers outnumbered.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/ AP
Japan
West Coast
Bush
Kevin Caron
Ryan, Beck & Co
Trc
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Daliks II
Heart
Patio
Hoppe
Lorain Road
North Ridgeville
Lorain Rd
Lorain
Elyria
Cleveland
Icubio
S&p
Paya
Jack Kelley
CLU & Associates
Leavitt Rd
Jackkelley
Qqlink
Heizo Takenaka
Weekend Magazine
Ing
Barker
United Parcel Service
FedEx
Morgan Stanley
Cisco Systems
Goldman Sachs
Adolph Coors
Intel
Craig Barrett
New York Stock Exchange
Follar
Ugh
Lala
Cee Ay Ac Lee
National City
Corey
Nemes
Natiarelty Corporatt
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