Monday, November 3, 2008

Steven Wevodau - October chain store sales expected to fall (Reuters)

October chain store sales expected to fall (Reuters)
Reuters - U.S. retail chains may report one of their worst monthly sales results this week as a global financial crisis leaves its mark on ordinary consumers, casting new doubt on holiday season sales.

Viacom earnings drop 37 percent; ad slump hurts (Reuters)
Reuters - Viacom Inc (VIAb.N), owner of MTV Networks and Paramount movie studio, reported a 37 percent drop in third-quarter earnings, further evidence major media companies are suffering from an intensifying advertising slump.

Recession rears ugly head, global auto sales shrink (Reuters)

A customer leaves a branch of Halifax Bank of Scotland (HBOS) in the City of London October 13, 2008. (Luke MacGregor/Reuters)Reuters - Corporate results and outlooks darkened on Monday, and automotive companies from Japan to Italy to Detroit said October sales were the weakest in about 20 years as economies weakened and consumer credit dried up.

Auto sales hit 25-year low, Europe outlook bleak (Reuters)

A Buick Enclave SUV sits for sale at a auto dealership in Ferndale, Michigan October29, 2008. (Rebecca Cook/Reuters)Reuters - U.S. auto sales plunged 32 percent in October to lows unseen in a quarter-century led by a 45 percent drop at General Motors Corp in a collapse that hit every major automaker and offered little sign that the industry has hit bottom in its largest market.

FTSE 100 up 65.94 points at 4,443.28 (AP)
AP - Share prices on the London Stock Exchange closed up Monday.

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