AP Top Stories 10.31.08

Obama stumps in Fla. and McCain hits Ohio; Brother charged after woman's mummified remains found; Calif. man charged in anthrax hoax; Bones found near Fossett crash site.

AP Top Stories 10.30.08

Earthquake in Pakistan kills at least 150; Only six days left in presidential campaign; Sen. Ted Kennedy returns to Washington.

Asian Stocks Rally After Fed Drops Interest Rate

Relieved investors stormed back into global markets Thursday, sending stock indices in Hong Kong, South Korea and Japan surging by double digits, after the U.S. Federal Reserve slashed interest rates to help revive the world's largest economy.

AP Top Stories 10.29.08

Earthquake in Pakistan kills at least 150; Only six days left in presidential campaign; Sen. Ted Kennedy returns to Washington; World Series Game 5 set to resume.

AP Top Stories 10.28.08

Asian stocks rebound; Classes resume at University of Central Arkansas; Investigation continues into alleged assassination plot against Barack Obama; World Series Game five set to resume tonight.

Asian Markets Continue to Fall

Asian stock markets have resumed their downward slide, with Japan's Nikkei index falling to a 26-year-low.

Brown: Banks Need to Do Their Jobs

British Prime Minister Gordon Brown says strengthening banks is important, as is keeping funds flowing to businesses, homeowners and families.

AP Top Stories 10.27.08

Search intensifies for Jennifer Hudson's nephew; SUV crash kills four cheerleaders; Severe weather stranded hundreds of British racers; Halloween costume contest for pets.

AP Top Stories 10.26.08

Suspect in Hudson slayings in custody; Campaigns head West; Bush urges financial calm; World Series resumes in Philly tonight.

AP Top Stories 10.25.08

Suspect in Hudson slayings in custody; Campaigns head West; Bush urges financial calm; World Series resumes in Philly tonight.

AP Top Stories 10.24.08

Asian markets tank; Juror troubles in Sen. Ted Stevens' trial; Barack Obama visits ailing grandmother; Rays take game two of the World Series.

Dow Jones Futures Tank

U.S. stocks are sliding toward another precipitous drop, as fears of a punishing global recession are stirring panic among investors and sending world financial markets into a tailspin.

Your Money: Jobless Claims

Weekly jobless claims are considered a leading economic indicator, a term many Americans are unfamiliar with. AP Personal Finance Editor Trevor Delaney explains the term and the impact jobless claims have on the economy.

AP Top Stories 10.23.08

Asian markets tumble; Possible verdict in Sen. Stevens corruption case; New York City Council to vote on measure allowing Mayor Bloomberg to run for a third term; Phillies win game one of World Series.

AP Top Stories 10.22.08

Asian stocks fall in overnight trading; Jury deliberations start in Sen. Ted Stevens' corruption trial; Sir Richard Branson tries to set sailing record; World Series starts tonight in Tampa.

AP Top Stories 10.21.08

Sen. Obama cancels campaign stops to visit ailing grandmother; Closing arguments in Sen. Stevens' corruption trial; Second arrest in kidnapping of Nevada boy; World markets rebound.

AP Top Stories 10.20.08

Bush to listen to 'Main Street' on economy; Trial begins in soldier shooting conspiracy plot; Fashion critic Mr. Blackwell dies; Rays win American League championship, head to World Series.

AP Top Stories 10.19.08

Abducted boy found in Las Vegas; Bush says he'll host summit on global financial crisis; India bridge collapse kills 2; Red Sox win and force a Game 7.

AP Top Stories 10.18.08

Grandfather arrested in missing Nevada boy; Father-son land dispute may have led to law office blast; Muqtada al-Sadr urges rejection of US-Iraqi pact; Putin tests satellite navigation device on his dog.

AP Top Stories 10.17.08

AP-Yahoo poll: McCain's sinking public image; Amber Alert issued for a kidnapped 6-year-old boy; Costa Rica flooding; Red Sox rally to stay alive.

AP Top Stories 10.16.08

Helicopter crashes near Chicago, killing four people; Spanish judge questions three mechanics in plane crash investigation; Final debate between Barack Obama and John McCain; Asian markets tumble.

AP Top Stories 10.15.08

Final presidential debate tonight; Asia markets mostly lower; Canadians re-elect Harper; New York couple welcomes identical triplets.

AP Top Stories 10.14.08

New plan for Wall Street; Overseas markets soaring; Wildfire emergency in Southern California; Space tourist arrives at station.

AP Top Stories 10.13.08

British bank bailout; Overseas markets rise; Gas prices slip; Southern California wildfire.

AP Top Stories 10.12.08

Bush meets with finance ministers to work on economy; Hurricane Norbert comes ashore in Mexico; Accused marine fighting extradition; Tampa Bay evens series with Red Sox.

AP Top Stories 10.11.08

Bush meets with G7 finance ministers; Investigation finds Palin abused power; Report suggests GM and Chrysler may merge; Red Sox beat Tampa Bay.

Reports: Chrysler, GM discuss merger, acquisition

DETROIT - General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to published reports.

The Wall Street Journal, citing people it described as familiar with the discussions, reported that Cerberus Capital Management, the private equity firm that owns 80.1 percent of Chrysler and 51 percent of GMAC Financial Services, proposed trading Chrysler's automotive operations to GM. The Journal said Cerberus would receive GM's remaining 49 percent stake in GMAC.

The New York Times, also citing people familiar with the talks, reported that the automakers were discussing a merger. The Times did not mention GMAC, a traditional auto lender hit hard by the housing market downturn.

Reports: Chrysler, GM discuss merger, acquisition....

Apple's stock hit by Web rumor

By Steve Hargreaves, CNNMoney.com

NEW YORK (CNNMoney.com) -- Apple shares fell sharply Friday morning after an erroneous Web report saying founder and CEO Steve Jobs had suffered a heart attack. Shares quickly recovered after it became clear the rumor was not true.

The posting, made on iReport, a user-generated content site run by CNN, said, "Jobs was rushed to the ER just a few hours ago after suffering a major heart attack," according to Silicon Alley Insider, a blog that took a screen shot of the posting.

Apple's stock fell 10% in 10 minutes, then recovered to trade flat most of the session before closing 3% lower.

Apple's stock hit by Web rumor....

Citigroup Girds for Wachovia Takeover Battle With Wells Fargo

By David Mildenberg and Josh Fineman

Oct. 4 (Bloomberg) -- Citigroup Inc., hobbled by $61 billion of subprime-related losses, now faces its biggest takeover battle in a fight with Wells Fargo & Co. for control of Wachovia Corp.

Citigroup fell as much as 21 percent yesterday in New York trading after Wells Fargo, the biggest U.S. bank on the West Coast, agreed to acquire all of Charlotte, North Carolina-based Wachovia for $15.1 billion. The bid trumped Citigroup's government-backed offer of $2.16 billion for Wachovia's banking operations.

``The taxpayer doesn't pay a penny'' for the Wells Fargo deal, Wells Chairman Richard Kovacevich, 64, said yesterday in an interview. His company's bid is superior to Citigroup's also because it's a higher price and the combining banks ``share similar cultures and values.''

Citigroup Girds for Wachovia Takeover Battle With Wells Fargo....

Bush Signs Bank Rescue to End `Threat to Economy'

By Christopher Stern and Laura Litvan

Oct. 4 (Bloomberg) -- U.S. President George W. Bush signed a $700 billion financial-market rescue plan into law, calling it a ``decisive action to ease the credit crunch that is now threatening our economy.''

The bipartisan legislation was sent yesterday to Bush after it was approved by the House, reversing its Sept. 29 rejection of the measure, which had sent global stock markets plunging. The bill, approved on Oct. 1 by the Senate with $149 billion in tax breaks to attract House votes, authorizes the government to buy troubled assets from financial institutions reeling from record home foreclosures. It also affirms regulators' power to suspend asset-valuing rules that companies blame for fueling the crisis.

``This was a difficult vote for many members of the House and Senate, but voting for it was the right choice for America's economy and for taxpayers like you,'' Bush said in his weekly radio address today. ``I appreciate their efforts to help stop the crisis in our financial markets from spreading to our entire economy.''

Bush Signs Bank Rescue to End `Threat to Economy'....

Auto sales plunge as credit crunch hits

By Kevin Krolicki

WASHINGTON (Reuters) - Major automakers reported plunging U.S. sales for September -- led by a 34 percent slide at Ford Motor Co -- as an escalating credit crisis hit the slumping industry and raised new doubts about when the world's largest auto market would stabilize.

The 26-percent drop in industry-wide auto sales was sharper than expected and coincided with a crisis on Wall Street that automakers said rocked consumer confidence and made it harder for remaining shoppers to finance vehicles.

Sales were down 24 percent at Honda Motor Co, 32 percent at Toyota Motor Corp and 37 percent at Nissan Motor Co. Chrysler LLC sales were down 33 percent.

Auto sales plunge as credit crunch hits....