Chavez says US crisis could bring down oil Venezuelan President Hugo Chavez called the U.S. financial crisis a failure of free-market capitalism that could cause as much damage as "a hundred hurricanes," driving down prices for oil and other commodities and harming economies worldwide. 30 Sep 2008
512.
Early Glance: Chemicals companies Shares of some top chemicals companies are up at 10 a.m.: Chemtura rose $.04 or .9 percent, to $4.34. 30 Sep 2008
513.
Restaurant shares hit by spending slowdown, costs Shares of restaurant companies were hit during the past three months by concerns about a slowdown in consumer spending and high commodity costs. According to the Dow Jones U.S. Restaurants and Bars Index, stocks dipped about 1.1 percent during the quarter ended Sept. 30. The index, which is made 15 restaurant companies, has dropped nearly 11 percent in the past 52 weeks. 30 Sep 2008
514.
Bush implores Congress to act to rescue markets President Bush said Tuesday the economic damage to the nation will be "painful and lasting" if Congress fails to pass a $700 billion bailout bill. The president's latest statement on the financial crisis, a renewed mix of reassurances and warnings, came a day after the House voted narrowly to defeat the massive relief measure that his administration had negotiated with leading members of Congress. The failure of the plan stunned Washington and Wall Street. 30 Sep 2008
515.
USDA: Neb. wheat harvest down 13 pct from 2007 The U.S. Department of Agriculture says Nebraska farmers harvested an estimated 73.5 million bushels of wheat this year--13 percent less than 2007 but 20 percent more than 2006. 30 Sep 2008
516.
Chavez says crisis is failure of capitalism Venezuelan President Hugo Chavez is calling the U.S. financial crisis a failure of free-market capitalism. Chavez also says that "the Washington consensus has collapsed" and that economies worldwide could be harmed if it causes drops in the prices of natural resources including oil and other minerals. 30 Sep 2008
517.
Fitch may downgrade Citigroup; cuts Wachovia Fitch Ratings late Monday placed the investment-grade ratings on Citigroup Inc. on watch for possible downgrade following its acquisition of Wachovia Corp.'s banking operations for $2.16 billion. 30 Sep 2008
518.
Ahead of the Bell: Analyst downgrades Nymagic An analyst downgraded Nymagic Inc. on Tuesday, saying pre-announced investment and hurricane losses will hurt the insurance holding company. Keefe, Bruyette & Woods Inc. analyst Dean Evans downgraded the New York-based company to "Underperform" from "Market Perform." The downgrade was based on "pre-announced investment and Gustav losses," Evans wrote in a research note to clients. 30 Sep 2008
519.
Ahead of the Bell: Fifth Third downgraded Robert W. Baird & Co. analyst David George on Tuesday downgraded the shares of Fifth Third Bancorp to "Neutral" from "Outperform," concerned that the weak economic environment may make it difficult for the bank to sell off assets as planned. 30 Sep 2008
520.
Ahead of the Bell: Analyst downgrades Gentex An analyst downgraded shares of Gentex Corp. on Tuesday after the auto parts maker cut its third-quarter revenue guidance due to the weak vehicle market. 30 Sep 2008