| Business News |
Wall Street tumbles, led by financials
(Reuters)
 Reuters - Stocks tumbled more than 2 percent on
Thursday after a report showing yet another drop in U.S. home
sales prompted investors to take profits in financial shares,
which had rallied over the past week.
|
Microsoft CEO backs Web spending, "done" with Yahoo
(Reuters)
 Reuters - Chief Executive Steve
Ballmer on Thursday defended Microsoft Corp's need to
make heavy investments in its Internet businesses but said the
company was "done," for now, with pursuing Yahoo Inc .
|
Wachovia CFO Wurtz to leave
(Reuters)
Reuters - Wachovia Corp , which posted a
record $8.86 billion second-quarter loss Tuesday, said Chief
Financial Officer Thomas Wurtz will resign from the
fourth-largest U.S. bank after a successor is named.
|
Home sales at 10-year low, jobless claims jump
(Reuters)
 Reuters - Jobless claims jumped and the pace
of existing home sales tumbled to a 10-year low as slowing
growth hit hiring and a glut of unsold houses weighed on real
estate, data released on Thursday showed.
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Morgan Stanley aggressively recruiting brokers
(Reuters)
 Reuters - Morgan Stanley said on Thursday
it is poaching brokers from Merrill Lynch and other
rivals, accelerating the expansion of its global wealth
management business during a period of turbulence on Wall
Street.
|
Jobless claims jump as housing market gets weaker
(AP)
 AP - Two cornerstones of the economy — jobs and housing — sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.
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