Money Minute: Beige Book, Online Sales, Yahoo

Published 19 hours ago

The Federal Reserve's new snapshot of business conditions suggested the economy was sinking deeper into recession. The AP's Mark Hamrick reports. (Dec. 3)

Tags: auto club triple-a says prices at the pump hav or gdp increased at a 2.8 perc ap money minute oil prices plunged over $10 a barrel monday as a u.s. financial bailout plan failed to win legislative approval increasing fears that a prolonged economic downturn that could sharply curtail energy demand. light sweet crude for november ap money minutehome prices tumbled by the sharpest annual rate ever in july and though the monthly rate of decline is slowing there is no turnaround in sight.the standard & poors/case-shiller 20-city housing index fell a record 16.3 percent in july from ap money minutetight credit ap money minute mortgages rates have risen for a second straight week. mortgage company freddie mac reports that 30-year but said treasury staffers are wo ap money minute neel kashkari the treasurys assistant secretary for international affairs will head the off -----------------------------------central banks around europe continuing push cash markets an effort keep financial sector flush with ready money.the european central bank offering $50 investors saw the dow drop again spooked by the financial meltdown shut their wallets tight last month. same-store sales rose just 1.0 for september transmission and stamping operations and correspond with truck and suv plant bush said he welcomed the bold actions countries are taking to ap money minuteshares of fortis dutch and luxembourg reflecting mounting damage as financial and credit problems worsened.economic activity [notes:anchor voice] minutemerrill lynch its third-quarter loss widened investment took $12 charges write-downs tied sale investments fallout credit crisis merrill minute-----------------------------construction homes plunged amount september u.s builders slashed production once again 6.3 drop puts country track build fewest yea ap money minuteas bank-to-bank lending rates gradually slide lower the credit climate is looking a bit brighter. the london interbank offered rate or libor rate has dropped for the sixth straight day and currently stands at 4.06 percent.recent government minutedelta enterprises recalled nearly 1.6 million cribs after suffocations two 8-month-old infants both deaths related safety pegs intended prevent side crib slipping off 500 jobs.the move by analysts puts the company under increased scrutiny a minute.former fed chairman alan greenspan calls current once-in-a-century tsunami told congress exposed flaws his thinking workings free-market system.a senior treasury official ap money minute the federal reserve has set rates for commercial paper plus a 1 percent surcharge and a ap money minute credit suisse group switzerlands second-largest bank says it will cut 500 investment banking jobs with nearly all of the positions coming from branches in the united states and britain. the announcement came in addition to a 1 500-job preparing unveil plan guaranteeing $500 loans troubled borrowers.an source considering using $700 bailout modificati [notes:anchor voice] ap money minute exxon mobil the worlds largest publicly traded oil company auto industry report yet another rapidly slowing possibly worst decades automotive web site edmunds.com projecting vehicle expected to take place by the end of the year will mean up to [notes:anchor voice] ap money minute at&t the countrys largest internet service provider ap money minute at&t as a way to curb a small n rescap could fail. the results are likely to have an impa ap money minute the numbers are expected to be grim likely through shi $85 billion loan in september. in return the government received a 79.9 percent stake in the insurer commissio and wants it done in a post-election session of congress likely to convene in the next few days. the s a deal that is set to create the worlds largest brewer.the vote was the latest step necessary to form the company to ap money minute the federal government began the new budget year with a record deficit of $237.2 billion ap money minutesun microsystems plans to cut up to 6 000 jobs or 18 percent of its work force ap money minute target will aggressively cut prices to give consumers bargains during the holiday season aaa travel thanksgiving holiday time six years due slowdown fewer flights.the 1 americans least 2 miles thats down 41.6 ap money minute microsoft is no longer interested in buying all of yahoo and later rejected its bid to b he warned against imp ap money minute-----------------------------wal-mart the worlds largest retailer ap money minute nationwide sales of existing homes fell 3.1 percent last month even as prices plunged. the median sales price dropped 11.3 percent from a year ago to $183 000. that was the largest year-over-year drop on records going back to 1968 october fell 5-point-3 lowest level 3 last 4 levels median sold the traditional start of the holiday shopping season is feared to and will be the most severe slump since the 1981-82 recess ap money minutemore troubles for the big three.chrysler general motors and ford all reported dismal sales reports for november. chrysler says sales were off 47 percent for the month gm saw a 41 percent slide and fords figures dropped 31 percent.the d ------------------------- federal reserves snapshot conditions suggested sinking deeper into recession known beige book activity weakened across all