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August 22, 2008
AP - Federal regulators said Friday that investors who bought risky auction-rate securities from Merrill Lynch & Co. before the market for those bonds collapsed will be able to recover up to $7 billion under a new agreement.
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August 22, 2008

A Toronto Stock Exchange (TSX) logo is seen in Toronto November 9, 2007. REUTERS/Mark BlinchReuters - Toronto stocks finished a strong week on a losing note on Friday, retreating on the back of sagging oil and metals prices, with losses offset partly by stronger financial issues.


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August 22, 2008
AP - In extended headlines of Aug. 21 stories about clothing retailer Aeropostale Inc.'s second-quarter earnings report and the company's outlook, The Associated Press erroneously spelled the name. It is Aeropostale, not Aerpostale or Aeropostal.
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August 22, 2008
Reuters - U.S. companies would be able to file financial results using international accounting standards according to a timetable U.S. securities regulators will propose next week.
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August 22, 2008

Tulips bloom in front of U.S. Treasury Building in Washington, April 13, 2007. (Jim Young/Reuters)Reuters - Any effort by the Treasury Department to backstop Fannie Mae and Freddie Mac would seek to maintain the companies as shareholder-owned enterprises, a source familiar with Treasury thinking said on Friday.


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August 22, 2008

People walk past the London Stock Exchange. The FTSE 100 index finished near its session high as investors took heart from signs of more merger and acquisition activity in the banking sector.(AFP/File/Shaun Curry)AFP - The FTSE 100 index finished near its session high Friday as investors took heart from signs of more merger and acquisition activity in the banking sector.


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August 22, 2008

The headquarters of Freddie Mac are pictured in McLean, Virginia, May 14, 2008. (Jason Reed/Reuters)Reuters - Moody's Investors Service on Friday cut its ratings on the preferred stock of Fannie Mae and Freddie Mac on concern that market turmoil has hurt their access to capital.


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August 22, 2008

Chairman of the Federal Reserve Ben Bernanke testifies before the U.S. House Financial Services Committee on Capitol Hill in Washington July 16, 2008. (Larry Downing/Reuters)Reuters - Federal Reserve Chairman Ben Bernanke on Friday said the stronger dollar and lower oil prices, along with the weak economy, should curb inflation, in a hint that interest rates would stay on hold, though he warned the inflation outlook is "highly uncertain."


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August 22, 2008

A row of new Chrysler Jeep Commander SUVs are seen at a dealership in Silver Spring, Maryland, July 1, 2008. (Yuri Gripas/Reuters)Reuters - The Big 3 Detroit-based automakers are seeking about $25 billion in federal loans as they struggle to ride out a steep downturn in U.S. auto sales, The Wall Street Journal reported on Friday.


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August 22, 2008
Reuters - Women's clothing retailer AnnTaylor Stores Corp reported a higher-than-expected quarterly profit and affirmed its full-year outlook, as tight control of inventories and costs helped offset falling sales.
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