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News

• U.S. Stocks Tumble Amid Mortgage Losses; Merrill, Lehman Drop
  U.S. stocks had their first weekly decline in a month after concern grew that loan losses at banks and brokerages will restrain corporate profit growth.
  
  
• Treasuries Rise Most Since March on Subprime Crisis, Bernanke
  Treasuries rose the most in more than four months on increased speculation losses in securities backed by subprime mortgage loans may curb U.S. growth.
  
  
• Redstone Confirms Rift With Daughter, Considers Buying Her Out
  Sumner Redstone, who controls Viacom Inc. and CBS Corp., said he'd consider buying his daughter out of the family business if the price is right. Shari Redstone, vice chairman of the two companies, indicated she might be interested.
  
  
• Dollar Drops to Record Low Versus Euro on Subprime Loan Concern
  The dollar dropped to a record low versus the euro and the weakest in 26 years versus the pound on speculation losses from subprime mortgages will worsen the U.S. economic outlook.
  
  
• European Stocks Fall on Earnings Concerns; Total, BMW Drop
  European stocks dropped this week following three weeks of gains as investors speculated hedge-fund losses at Bear Stearns Cos. may signal wider problems in credit markets and the strong euro might erode earnings.