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Governments back savers as banking gloom spreads (Reuters)

German Finance Minister Peer Steinbrueck arrives for a party board meeting of the German Social Democratic party (SPD) in Berlin October 6, 2008. (Johannes Eisele/Reuters)Reuters - More European governments followed Germany's lead on Monday offering blanket deposit guarantees to savers in a frantic effort to calm fears among investors over the worst financial crisis in 80 years.


Stock futures tumble as credit woes fan global rout (Reuters)

A share trader blows his nose while on the trading floor of the Frankfurt stock exchange, October 6, 2008. (Kai Pfaffenbach/Reuters)Reuters - Stock futures slid on Monday as concerns about the widening fallout from the credit crisis fueled a global equities sell-off and bank rescues in Europe heightened fears about the stability of major financial institutions.


Fed moves to broker deal for Wachovia: sources (Reuters)

Men walk past a branch of Wachovia Bank in Washington, October 3, 2008. (Mitch Dumke/Reuters)Reuters - The U.S. Federal Reserve is brokering discussions between Wells Fargo & Co and Citigroup Inc over which of the banks will buy Wachovia Corp's assets, people familiar with the matter said on Sunday.


Lilly to acquire ImClone Systems in $6.5 billion transaction (Reuters)

A laboratory researcher in a file photo. (File/Reuters)Reuters - Eli Lilly said it will acquire ImClone Systems in a $6.5 billion deal.


Global stocks plunge, yen leaps as credit fears dominate (Reuters)

A foreign currency dealer reacts as he monitors a screen displaying exchange rates between the dollar and the Korean won at the Korea Exchange Bank (KEB) in Seoul October 6, 2008. (Jo Yong-Hak/Reuters)Reuters - World stocks plunged to three-year lows on Monday as investors fled to government bonds, gold and the low-yielding yen, fearing policymakers' efforts to contain the credit crisis might not be enough to prevent a recession.


Israeli stock market drops despite US bailout (AFP)

Colorful bull statues on Rothchild Avenue in Tel Aviv to mark the 70th anniversary of Israeli Stock Exchange in 2005. The Tel Aviv stock exchange, one of the few world markets open on Sunday, has taken a dive despite Washington's approval of a $700bln bailout aimed at forestalling a global financial meltdown.(AFP/File/Yoav Lemmer)AFP - The Tel Aviv stock exchange, one of the few world markets open on Sunday, took a dive despite Washington's approval of a 700 billion dollar bailout aimed at forestalling a global financial meltdown.


Credit crisis adds to pressures on auto dealers (AP)

Ford Mustangs sit on the lot of a new car dealership in July 2008. US auto sales took a beating in September as financial turmoil on Wall Street emptied dealer showrooms and major automakers reported sales drops of up to 37 percent Wednesday.(AFP/Getty Images/File/Scott Olson)AP - Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan.


Family Dollar profit tops estimates (Reuters)
Reuters - Family Dollar Stores Inc posted a higher-than-expected quarterly profit on Friday, helped by shoppers who spent tax rebate checks at the discount retailer and by closely controlling costs.
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