February 20, 2009 – 5:43 pm
Reuters - Diversified U.S. manufacturer United Technologies Corp reduced the pay of its top two executives last year, but continued to pay bonuses to all its top officials as profit rose in a recessionary environment.
February 20, 2009 – 5:42 pm
Reuters - Texas billionaire Allen Stanford has surrendered his passport in keeping with a court order, a spokesman for the U.S. Securities and Exchange Commission said on Friday, but he was nowhere to be seen as this case played itself out on the world stage.
February 20, 2009 – 4:57 pm
AP - Treasury prices rose Friday as stocks tumbled and investors worried about the health of the banking industry.
February 20, 2009 – 4:47 pm
Reuters - Bank of America Corp and Citigroup Inc shares fell for a sixth straight day on Friday, hammered by growing fears that the U.S. government could nationalize the banks, wiping out shareholders.
February 20, 2009 – 4:30 pm
Reuters - Stocks tumbled on Friday, with the Dow industrials ending at a 6-1/2-year low, on fears the government may be forced to nationalize some big banks.
February 20, 2009 – 4:13 pm
Reuters - Shares of Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) (BRKb.N) sank Friday to their lowest level in 5-1/2 years amid concern the insurance and investment company could suffer big losses from bets on world stock markets and U.S. banks.
February 20, 2009 – 3:59 pm
Reuters - UBS AG warned Friday that it could go out of business if it complied with an order to reveal the names of thousands of suspected U.S. tax dodgers with secret offshore accounts at the Swiss bank.
February 20, 2009 – 3:29 pm
AP - The dismal housing market dragged down fourth-quarter profits at Lowe’s Cos. Inc. by 60 percent, and executives at the home improvement chain said they see little hope of a substantive fix from a federal effort aimed at helping struggling homeowners.
February 20, 2009 – 3:09 pm
Reuters - The U.S. Commodity Futures Trading Commission said on Friday it had obtained a court order freezing the assets of the Brookshire Raw Materials Management for allegedly misappropriating $4.6 million in a Ponzi scheme.
February 20, 2009 – 2:31 pm
Reuters - The White House said on Friday it strongly believed in a privately held bank system, after rumors that the U.S. government could nationalize banks caused shares in Bank of America and Citigroup plummet.
