According to Reuters, Wall St. closed its worst year since The Depression.
Reuters reports that GMAC did not hit its goal of trading debt for equity and cash.
Reuters reports that GM (GM) has gotten $4 billion of its bailout money but cash to Chrysler has not been received.
Reuters reports that senior officers at Citigroup (C) will not get bonuses.
Reuters reports that IBM (IBM) formed an alliance with Ricoh.
Reuters reports that NYSE will suspend RH Donnelly’s stock
The Wall Street Journal reports that Madoff gave the SEC a list of his personal assets.
The Wall Street Journal reports that Microsoft (MSFT) says some of its Zune multimedia players have technical problems.
The Wall Street Journal reports that Time Warner Cable (TWC) and Viacom (VIA) have reached a deal so that Viacom programming can stay on the cable system.
The Wall Street Journal reports that as CD sales dropped, music revenues dropped sharply.
The Wall Street Journal reports that the price of crude oil moved up 14%
The Wall Street Journal reports that China has begun granting licenses for the build-out of its 3G cellular system.
The New York Times reports that Russia gas giant Gazprom has cut deliveries to the Ukraine
The New York Times reports that US markets lost $7 trillion in value, wiping out six years of gain.
The New York Times reports that China is having to reconsider its growth programs as exports shrink. It now plans to do more to help exporters.
The New York Times reports that holiday retail data says sales shrank 2.3%.
The FT writes that the value of the US financial stock index dropped 57% last year.
The FT reports that the commodities markets had their worst annual fall, down 40% according to the Reuters-Jefferies CRB index.
Bloomberg reports that Wells Fargo’s (WFC) deal to buy Wachovia closed yesterday but the new firm faces troubles due to the falling housing market.
Douglas A. McIntyre
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