Citigroup plans 50,000 job cuts in latest jolt to Wall Street
TARGET SUSPENDS BUYBACK AS PROFIT DROPS 24%
Target Corp. says its fiscal third-quarter profit drops 24%, hurt by
consumers paring back on discretionary spending and failing to make
their credit card payments.
TOP SIX GOLDMAN SACHS EXECS FORGOING 2008 BONUSES: WSJ
Pressured by an almost-unprecedented financial meltdown and a
gathering outcry over executive pay on Main Street, Goldman Sachs
reportedly will pay no bonuses in 2008 to its top management -- a move
that may set the precedent across a troubled Wall Street.
Switzerland's UBS also takes steps to reform policies on
executive pay.
ECONOMIC REPORT: ECONOMISTS MORE BEARISH ON ECONOMY, NABE SURVEY SHOWS
The U.S. is in for a "prolonged" recession dragging into 2009, and
joblessness may climb to a 7.5% rate, a full percentage point higher
than the current unemployment rate, the National Association for
Business Economics says.
ECONOMIC REPORT: INDUSTRIAL OUTPUT COMES BACK PART WAY FROM STORMS
Output of the nation's factories, mines and utilities partially
rebound in. October from September's sharp weather-related slump, the
Federal Reserve reports.
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