AP – World stock markets were lower Wednesday following a steep sell-off on Wall Street, as investors reacted with skepticism to the U.S. government’s latest plan to rescue the ailing financial industry with as much as $2 trillion in funding.
AP – Toll Brothers Inc. said Wednesday its preliminary revenue slipped 51 percent in the first quarter, failing to meet Wall Street expectations as the housing market downturn continued to weigh on the luxury homebuilder’s results.
Reuters – Research In Motion said its fourth-quarter earnings and gross margin would be at the low end of its previous forecast range, even as subscriber additions topped expectations, sending shares down 8 percent.
AFP – The Bank of England said on Wednesday that the recession-hit British economy risks shrinking by up to six percent later this year on a 12-month basis, before possibly returning to growth in 2010.
Sen. Tom Harkin, D-Iowa, and Sen. Herb Kohl, D-Wis., reintroduced legislation today to enhance fee disclosure requirements for 401(k) plans. ‘It’s absurd that millions of Americans rely on 401(k) plans for their retirement security and yet they aren’t