Stocks Fall for Third Week, Longest Drop Since March, on Recession Concern U.S. stocks fell for a third straight
week, the longest losing streak since March, on concern deeper-
than-estimated job cuts and a drop in consumer confidence will
prolong the recession.
India Joins Russia, China in Questioning Dominance of U.S. Dollar Reserves Suresh Tendulkar, an economic adviser
to Indian Prime Minister Manmohan Singh, said he is urging the
government to diversify its $264.6 billion foreign-exchange
reserves and hold fewer dollars.
U.S. Regulators Seize Seven Banks in Busiest Year for Closures Since 1992 Six banks in Illinois and one in
Texas were seized by regulators as the deepening financial
crisis pushed the toll of failed U.S. lenders this year to 52,
the most since 1992.
Stanford's Antigua Liquidators Win Control of $196 Million in U.K. Assets R. Allen Stanford’s liquidators from
Antigua were awarded control of 120 million pounds
($196 million) in U.K. assets seized in a fraud probe in a
London court battle with U.S. receivers.
Private-Equity Firms Say FDIC Rules Will Thwart Takeovers of Failed Banks Private-equity firms said the Federal
Deposit Insurance Corp. may be diminishing the appetite for
future bank takeovers by demanding buyout groups put more
capital at risk.
GM Says Beijing Auto Submitted Opel Bid as Magna Talks Remain `On Track' General Motors Corp. said Beijing
Automotive Industry Holding Co. submitted an offer for its Opel
division, giving the bankrupt U.S. automaker more options in the
event negotiations with Magna International Inc. fail.
Cemex May Sue After Strabag Pulls Out of $434 Million Purchase in Europe Cemex SAB, the world’s third-largest
cement maker, said it may take legal action after Strabag SE
withdrew from buying the Mexican company’s Austrian and
Hungarian assets because it failed to gain antitrust approval.
Emerging-Markets Share of World Stocks Hits Record; China Tops $3 Trillion Developing countries’ share of
worldwide equity value climbed to a record as the fastest-
growing economies lured investors amid the first global
recession since World War II.
Repsol in Talks With China's CNPC, Cnooc to Sell Stake in Argentinean Unit Repsol YPF SA is in talks with China
National Petroleum Corp. and China National Offshore Oil Corp.
about a sale of a stake in its Argentinean unit, three people
familiar with the discussions said.
Brazilian Stocks Fall, Capping Weekly Drop; Petrobras, Usiminas Decline Brazilian stocks fell, capping a
weekly decline, as a drop in oil and metal prices sent Petroleo
Brasileiro SA and Usinas Siderurgicas de Minas Gerais SA lower.
Venezuela, China May Sign New $4 Billion Loan-for-Oil Accord, Chavez Says Venezuela and China Development Bank
Corp. are discussing a third $4 billion infrastructure loan to
be paid in oil, President Hugo Chavez said.
Colombia's Central Bank Signals Rates May Not Drop Further at Next Meeting Colombia’s central bank policy makers
signaled they may pause after their half-point reduction at
their June 19 meeting, where they also considered a smaller rate
cut or even keeping the rate unchanged.