Officials pledge to move quickly on rescue - AP - 1 hour, 48 minutes ago
The Treasury Department moved swiftly Monday to implement the financial rescue package, naming a former Goldman Sachs executive to oversee spending the $700 billion earmarked for the plan and pledging to work with other countries to calm global financial markets.

Europe governments go their own way on crisis - AP - 1 hour, 38 minutes ago
Individual European governments issued a cascade of deposit guarantees to shore up their banks but fell short of any coordinated action Monday to deal with the crisis sweeping financial markets, even as stock markets crashed and the euro sank to its lowest level for over a year.

Citigroup sues Wachovia, Wells Fargo for $60B - AP - 34 minutes ago
Citigroup Inc. said Monday it has filed a complaint in New York Supreme Court against Wachovia, Wells Fargo and the directors of both companies seeking more than $60 billion in damages for interfering with the bank's planned takeover of Wachovia's banking operations.

Eli Lilly to buy ImClone for more than $6B - AP - 7 minutes ago
Eli Lilly & Co.'s winning bid of more than $6 billion for cancer drugmaker ImClone Systems means a billion-dollar payday for former rival bidder Bristol-Myers and vindication for corporate raider and ImClone Chairman Carl Icahn.

EBay cutting 1,600 jobs, 10 percent of work force - AP - 57 minutes ago
After a series of changes designed to draw more people to its online marketplace, eBay Inc.'s latest alteration is aimed at its own employees. The auction site operator said Monday it will cut about 1,600 jobs, 10 percent of its work force, in its largest round of dismissals ever.

Fed to provide as much as $900B in loans to banks - AP - 1 hour, 27 minutes ago
The Federal Reserve will provide as much as $900 billion in cash loans to squeezed banks in an urgent effort Monday to break through a dangerous credit clog that threatens the economy and has unhinged financial markets around the globe.

Congress opens hearings on financial meltdown - AP - 1 hour, 55 minutes ago
Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday.

Oil prices fall as financial turmoil goes global - AP - 29 minutes ago
Oil prices plunged below $90 a barrel Monday, coming within reach of year-ago levels as a widening financial maelstrom spreads overseas and crimps global demand for energy.