NEW YORK (Reuters) - Stocks fell for a third session on Friday after a disappointing outlook from Qualcomm Inc triggered more weakness in technology shares and helped send the Nasdaq down to its biggest weekly point loss since the September 11, 2001, attacks.
NEW YORK (Reuters) - Merck & Co has agreed to pay $4.85 billion to settle most of the claims that its painkiller Vioxx caused heart attacks and strokes in thousands of users, the drug maker said on Friday.
NEW YORK (Reuters) - Consumer sentiment tumbled in early November to its lowest since the grim aftermath of Hurricane Katrina, overshadowing a favorable report on Friday that booming exports trimmed the trade deficit to its slimmest since May 2005.
WASHINGTON (Reuters) - United Airlines, a unit of UAL Corp , could ground up to 100 planes, if necessary, to save money on fuel expenses, a company official said, and other big carriers are talking about similar steps, an industry source said on Friday.
WASHINGTON (Reuters) - Treasury Secretary Henry Paulson on Friday defended the dollar's status as the world's reserve currency, saying the U.S. economy's strength, openness and competitiveness would "shine through" the current market turmoil.
WASHINGTON (Reuters) - Mortgage finance company Fannie Mae expects to see its home loan loss rate double in 2008 compared to this year, the company's chief executive said on Friday.
NEW YORK (Reuters) - The credit crisis deepened on Friday as Wachovia Corp reported a potential $1.7 billion loss on mortgage-related debt, while credit card company Capital One Financial Corp said more customers are missing payments.
WASHINGTON (Reuters) - Fannie Mae , the largest U.S. mortgage finance company, said on Thursday its third-quarter net loss doubled from last year as slumping home prices and a credit squeeze drove down values of mortgage securities.
NEW YORK (Reuters) - JPMorgan Chase & Co Inc on Friday said shaky credit markets could trigger more write-downs in the fourth quarter as the bank is exposed to about $50 billion worth of leveraged loans, risky subprime mortgages and collateralized debt obligations.
