An unsurprising move, after the something similar was announced in the US and the UK. Germany will inject up to $536 billion. The initial plan calls for $50 to $100 billion. Norway is going to spend $58 billion. France will pledge less than Germany. Britain is spending $255 billion and the US $700 billion.
Analysts are predicting a bleak holiday season for retailers. Are you planning on spending a lot of money?
The Fed approves Wells Fargo’s takeover bid of Wachovia. The bid was for $12.2 billion.
Mitsubishi and Morgan Stanley are renegotiating their deal. MS was supposed to get an infusion of $9 billion from the Japanese giant. MS stock has hit $9.68. It was valued at $25.38 when they announce part of the deal. Mitsubishi still wants 21% of MS, but at a far lower price than last month.
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