NEW YORK (Reuters) - Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.  
Publ.Date : Fri, 09 May 2008 15:44:17 -0400
NEW YORK (Reuters) - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.  
Publ.Date : Fri, 09 May 2008 17:06:22 -0400
NEW YORK (Reuters) - Countrywide Financial Corp shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.  
Publ.Date : Fri, 09 May 2008 15:39:30 -0400
NEW YORK (Reuters) - Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy tightening in 2008 or 2009, according to a research note from the firm.  
Publ.Date : Fri, 09 May 2008 15:25:10 -0400
WASHINGTON (Reuters) - A record drop in U.S. imports because of slowing domestic demand took a big bite out of the U.S. trade deficit in March despite record high oil prices.  
Publ.Date : Fri, 09 May 2008 14:06:25 -0400
NEW YORK (Reuters) - Stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Inc reported a massive loss.  
Publ.Date : Fri, 09 May 2008 16:30:13 -0400
NEW YORK (Reuters) - Oil jumped to a record above $126 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.  
Publ.Date : Fri, 09 May 2008 15:45:23 -0400
BOSTON (Reuters) - Package delivery company FedEx Corp slashed its quarterly earnings forecast on Friday, blaming surging fuel prices.  
Publ.Date : Fri, 09 May 2008 16:45:50 -0400
ATLANTA (Reuters) - Circuit City Stores Inc on Friday reversed course and said it would open its books to suitor Blockbuster Inc and the movie-rental company's largest shareholder, billionaire investor Carl Icahn.  
Publ.Date : Fri, 09 May 2008 14:48:44 -0400
NEW YORK (Reuters) - Clear Channel Communications Inc posted a weaker-than-expected quarterly profit on Friday and the U.S. radio station operator said it was unclear whether a proposed buyout would be completed.  
Publ.Date : Fri, 09 May 2008 15:49:39 -0400
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