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Wall Street sinks to lowest since 2003 (Reuters)

The NASDAQ Marketsite in New York, November 3, 2008. (Brendan McDermid/Reuters)Reuters - Stocks plunged to their lowest in five-and-a-half years on Wednesday as investors girded for a lengthy economic downturn and automotive executives predicted a far-reaching calamity without a government lifeline.


Fed minutes: may need more rate cuts if growth ebbs (Reuters)

The Federal Reserve Board of Governors are seen during a Federal Open Market Committee meeting in Washington, March 28, 2006. (U.S. Federal Reserve/Handout/Reuters)Reuters - Federal Reserve officials slashed economic growth forecasts through 2009 and some believed even deeper interest rate cuts may be needed if growth slows further, minutes of their October policy meeting show.


Auto execs testify as legislators try for deal (Reuters)

Leaders of the U.S. automotive industry testify at a hearing held by the House Financial Services Committee on Capitol Hill, November 19, 2008. From left are General Motors CEO Richard Wagoner, Chrysler Chairman and CEO Robert Nardelli and Ford president and CEO Alan Mulally. (Kevin Lamarque/Reuters)Reuters - U.S. auto executives went to Capitol Hill for a second day on Wednesday to argue their case for $25 billion in aid as legislators proposed changes to help a bailout pass Congressional and White House muster.


Microsoft rules out buying Yahoo but likes search deal (Reuters)

Microsoft Chief Executive Officer Steve Ballmer speaks during a luncheon and conference on technology and innovation in Madrid April 25, 2008. (Susana Vera/Reuters)Reuters - Microsoft Corp Chief Executive Steve Ballmer ruled out an acquisition of Yahoo Inc on Wednesday but said his company was interested in resuming talks on a Web search partnership.


Shares of Buffett's Berkshire Hathaway fall more than 12 percent (Reuters)

Warren Buffett, CEO of Berkshire Hathaway, takes part in a conversation on leadership and the economy at The Women's Conference 2008 in Long Beach, California in this October 22, 2008 file photo. (Mario Anzuoni/Reuters)Reuters - Class A shares of Warren Buffett's Berkshire Hathaway Inc (BRKa.N) fell more than 12 percent on Wednesday to below $84,000, a 3-year low.


Fed acknowledges recession risk, global gloom deepens (AFP)

Federal Reserve Building. The Federal Reserve Wednesday acknowledged the possibility of a US recession into 2009, adding to gloom over the slowing global economy as American and European automakers begged for government help.(AFP/File)AFP - The Federal Reserve Wednesday acknowledged the possibility of a US recession into 2009, adding to gloom over the slowing global economy as American and European automakers begged for government help.


Homebuilder, REIT shares tumble as recession spreads (Reuters)

Robert Toll, Chairman and Chief Executive Officer of Toll Brothers Inc., answers questions during the Reuters Housing Summit, in New York, February 20, 2008. (Chip East/Reuters)Reuters - The shares of big U.S. homebuilders and real estate companies alike slumped on Wednesday as housing starts fell to a record low and concerns spread the commercial real estate market is going the way of residential.


Best Buy shares down after credit rating cut (Reuters)

Customers walk past a Best Buy logo on the opening day of China's first Best Buy outlet in Shanghai December 28, 2006. (Aly Song/Reuters)Reuters - Best Buy Co shares fell more than 11 percent to a new year low on Wednesday, a day after Standard & Poor's cut its debt rating on the electronics retailer to the lowest investment grade.