According to Reuters, the Fed is opening up its own balance sheet to poisonous securities it may get from banks in exchange for cash.
Reuters writes that JP Morgan (JPM) bought Bear Stearns (BSC) for $2 as the Fed opened up lending to primary dealers.
Reuters reports that Credit Suisee kept its estimates on JP Morgan constant.
Reuters writes that Google (GOOG) says the Yahoo! (YHOO) sale might hurt the internet.
Reuters reports that Siemens (SI) issued a profit warner after an audit of some of its projects.
Reuters writes that the Saudis will invest $40 billion into improving the water supply to the country.
The Wall Street Journal writes that Citigroup (C) replaced the head of its investment banking unit.
The Wall Street Journal reports that CME Group moved closer to an agreement to acquire Nymex Holdings.
The Wall Street Journal reports that a number of companies are pushing into online car sales.
The Wall Street Journal writes that Microsoft (MSFT) and Intel (INTC) are working on solving problems to build powerful microband chips.
The Wall Street Journal reports that Motorola (MOT) replaced two more senior executives.
The New York Times reports that there is a fear that markets could sell off on concerns that the problems at Bear Stearns might spread.
The New York Times writes that magazines and newspapers are using their archives as a way to bring in readers and advertisers.
The New York Times reports that gold moved up 3% to $1,030.
The FT writes that many investors are betting that oil will remain above $100 until 2016.
The FT writes that tech companies are making fewer, larger bets on R&D.
Bloomberg reports that the dollar dropped to a 12-year low.
Douglas A. McIntyre
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