Wednesday, August 15, 2007
Spreading bad news wallops Wall Street
NEWS
Iraqi military: 4 bombs kill 200, wound 300
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Four suicide bombers struck nearly simultaneously at communities of a
small Kurdish sect in northwestern Iraq late Tuesday, killing at least
200 people and wounding 300 more, Iraqi military and local officials
said.
Mattel's stellar reputation tainted
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Mattel (MAT), one of the most trusted names in toys, suddenly finds its
consumer trust in a free fall. On Tuesday, the toy giant recalled 18.2
million Chinese-made toys worldwide - 9.5 million in the USA - and more
recalls may be on tap.
Crackdown on corrupt Iraq contracts yields record caseload
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A federal crackdown on corruption involving U.S. contracts in Iraq
produced a record number of criminal and administrative cases last month
including the largest bribery case.
MONEY
Asian, European markets slide on U.S. credit worries
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Asian and European shares dipped Wednesday as markets continued to
battle jitters over a credit crunch started by problems in the U.S.
subprime credit sector and as broader concerns emerged about the U.S.
economy.
Spreading bad news wallops Wall Street
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Stocks skidded Tuesday on fresh signs that global credit markets were
seizing up, while a lower profit forecast from Wal-Mart Stores renewed
worries about consumer spending. The Dow Jones industrial average
tumbled 207.61 points to 13,028.92
