Reuters - Home sales in the San Francisco Bay area rose nearly 39 percent in October from a year earlier and the median home price posted a record fall as bargain hunters bought properties in markets hit hard by foreclosures, a report on Thursday said.

Continue reading " San Francisco-area homes sales jump nearly 39 percent (Reuters) "

AP - U.S. thrifts lost $4 billion in the third quarter as they set aside $7.9 billion to cover losses from bad mortgages and other loans, their government regulator said Thursday.

Continue reading " US thrifts swing to $4B loss in 3Q (AP) "

AP - Russian Prime Minister Vladimir Putin used a meeting of his powerful political party to take center stage Thursday, casting himself as an indispensable leader even as the global financial meltdown threatens the achievements of his boom-time presidency.

Continue reading " Putin grabs spotlight, vows Russia will thrive (AP) "

Reuters - JPMorgan Chase Co is cutting 10 percent of its investment banking staff — about 3,000 jobs — as the economic slowdown starts to bite into its earnings, people familiar with the situation said on Thursday.

Continue reading " JPMorgan cuts investment banking jobs: sources (Reuters) "

AP - The Federal Reserve announced Thursday that it will hold a two-day meeting in December to weigh its next move on interest rates and to make a fresh assessment of the economy.

Continue reading " Fed extends meeting in December to 2 days (AP) "

AP - U.S. thrifts lost $4 billion in the third quarter as they set aside $7.9 billion to cover losses from bad mortgages and other loans.

Continue reading " US thrifts swing to $4B loss in 3Q (AP) "

AFP - US Treasury Secretary Henry Paulson said on Thursday that reform of financial regulation was crucial but warned against hasty action that could lead to harm.

Continue reading " Reform US financial regulation, but not ‘in haste’: Paulson (AFP) "

Reuters - The number of American workers on the unemployment rolls surged to the highest in a quarter century and a regional manufacturing gauge slumped as U.S. economic misery intensified.

Continue reading " Jobs data miserable, regional factories slump (Reuters) "

Reuters - Treasury Secretary Henry Paulson said on Thursday that federal authorities have the right tools and have taken the necessary steps to prevent a financial system collapse.

Continue reading " Paulson: U.S. has the tools for financial stability (Reuters) "

AP - Treasury Secretary Henry Paulson called the financial crisis now plaguing the world economy a once or twice in a 100 years event, even as he warned Thursday against imposing too-strict regulations to prevent a repeat calamity.

Continue reading " Paulson: crisis happens once or twice in 100 years (AP) "