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Yahoo! News: Business

Governments bail out banks, UK wants new Bretton Woods (Reuters)
Mon, 13 Oct 2008 11:29:04 GMT

An employee of the Korea Exchange Bank (KEB) counts U.S. 100-dollar bills at the bank's headquarters in Seoul October 13, 2008. (Lee Jae-Won/Reuters)Reuters - Governments across the world moved on Monday to shore up tottering global banks with multi-billion dollar bailouts and Britain called for a new Bretton Woods agreement to reshape the world financial system.


Stock futures jump on bank rescues; Morgan higher (Reuters)
Mon, 13 Oct 2008 11:59:34 GMT

A woman takes note of stock information in front of an electronic screen at a brokerage house in Beijing, October 13, 2008. (Jason Lee/Reuters)Reuters - Stock index futures soared on Monday as a push by governments around the world to pump money into the clogged banking system sparked relief among investors and credit markets showed signs of loosening up.


World stocks, oil jump after bank rescue plans (Reuters)
Mon, 13 Oct 2008 12:00:37 GMT

A trader on the floor of the Philippine Stock Exchange, where shares closed down 8.33 percent in today's trading, looks at the exchange's electronic board on in Makati City, Metro Manila October 10, 2008. (Darren Whiteside/Reuters)Reuters - World stocks jumped on Monday from last week's five-year low after policymakers around the world took new and drastic steps to rescue banks and prevent the global economy from sinking into recession.


MUFG to announce revised Morgan deal soon: source (Reuters)
Mon, 13 Oct 2008 11:38:49 GMT

The exterior of the headquarters of investment bank Morgan Stanley is pictured in New York City, September 17, 2008. (Mike Segar/Reuters)Reuters - Mitsubishi UFJ Financial Group plans to announce revised terms for its $9 billion investment in Morgan Stanley later on Monday, a source familiar with the matter said.


Santander eyes Sovereign in hunt for bargains (Reuters)
Mon, 13 Oct 2008 11:32:56 GMT

People walk past a Santander bank branch in Madrid July 14, 2008. (Andrea Comas/Reuters)Reuters - Spain's Santander said it was in talks to acquire Sovereign Bancorp Inc on Monday, as the euro zone's largest bank hunted for bargains in a sector that has been hit by the global financial crisis.


World stock markets soar after last week's rout (AP)
Mon, 13 Oct 2008 09:15:41 GMT

The All Ordinaries Index is shown at the Australian Stock Exchange at Sydney, Monday, Oct. 13, 2008. The Australian share market rebounded strongly in the first 20 minutes of trading with the All Ordinaries index gaining 5 percent in response to a government announcement that it would guarantee all bank and other lender deposits for three years. (AP Photo/Rick Rycroft)AP - Global stock markets rebounded strongly on Monday after last week's historic sell-off as governments from Europe to Australia and the U.S. intensified efforts to ease a financial crisis that threatened to the throw the world into recession.


Money-market funds flock to guarantee program (AP)
Fri, 10 Oct 2008 11:12:31 GMT
AP - Nearly all the $3.4 trillion in money-market mutual funds is expected to be federally guaranteed for at least the next three months, now that all the major fund providers signed up to participate by a deadline that passed Wednesday.
Apparel chains report dismal September sales (AP)
Thu, 09 Oct 2008 19:33:34 GMT

In this Aug. 12, 2008 file photo, shoppers walk in front of a Abercrombie & Fitch store in San Jose, Calif. Teen apparel retailer Abercrombie & Fitch Co. said Thursday, Oct. 9, 2008, that its September same-store sales dropped 14 percent, more than quadruple the drop Wall Street expected.  (AP Photo/Paul Sakuma, file)AP - Dismal September sales results from mall-based apparel chains, released Thursday, offered more fresh evidence that American consumers, spooked by the financial meltdown, shut their wallets tight last month.


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 Word of the day 

Merriam-Webster's Word of the Day for October 13, 2008 is:

koine • \koy-NAY\  • noun
1 : the Greek language commonly spoken and written in eastern Mediterranean countries in the Hellenistic and Roman periods *2 : a dialect or language of a region that has become the common or standard language of a larger area

Example sentence:
Koines inevitably developed in the early British colonies as different dialects converged.

Did you know?
Koine, which means "common" or "shared" in Greek, was the language spoken in the eastern Mediterranean countries from the 4th century B.C. until the time of the Byzantine emperor Justinian (mid-6th century A.D.). In linguistics, the word "koine" is applied to a language developed from contact between dialects of the same language over a large region. Basically, a koine adopts those grammatical and lexical elements from the dialects of the region that are easily recognized by most area speakers and dispenses with those that are not.

*Indicates the sense illustrated in the example sentence.

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