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 European stocks climbed Monday, lifted by the U.S. federal government's plan to rescue beleaguered financial giant Citigroup. On Sunday, the U.S. announced a massive aid package for Citi, the latest government effort to stabilize the ailing financial sector. Bank stocks in Europe rose, led by Citigroup, which surged 35% in Frankfurt trading.Britain's FTSE 100 was up 3% in morning trading. The CAC-40 in France was up 3.2% and Germany's DAX was up 2.4%. U.S. stock, which offer an indication of how Wall Street will open when trading begins in New York, were pointing to a flat to positive start.Under the Citigroup rescue plan, the government will guarantee losses on more than $300 billion in troubled assets and make a fresh $20 billion injection in the company.The move comes after an alarming drop in the company's stock. At the close of U.S. trading on Friday, Citigroup Fortune 500 shares had dipped below $4 a share, and were down 87% for the year. In Asia, major markets finished mixed. Japan's benchmark Nikkei 225 index finished the session 2.7% higher while the Hang Seng index in Hong Kong fell 1.6%. U.S. stocks rallied Friday, with the Dow industrials on reports that President-elect Barack Obama will nominate New York Federal Bank President Timothy Geithner as his new Treasury secretary. Two sources close to the transition told CNN on Friday that Geithner is "on track" to be offered the post. An announcement is expected within days. Geithner is a well-regarded figure from Wall Street to Washington and he could help shepherd through a skeptical Congress. The Dow ended Friday's session up 6.5%. The Standard & Poor's 500 index gained 6.3% and the Nasdaq composite climbed 5.2%. |
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 The latest news from San Francisco inform that Bernard Madoff, known as ex-Nasdaq Stock Market chairman who founded the Bernard L. Madoff Investment Securities LLC, was recently put under arrest. According to FBI statements, the charges that were brought against him this Thursday concern the securities fraud accusation, particularly it deals with the so-called Ponzi scheme. As federal prosecutors declare, the Madoff’s case is connected with the losses of 50 billion dollars ...
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 Microsoft founder and the famous billionaire Bill Gates appealed with the propose to the new government leaded by the recently elected President to increase deficit costs for stimulation the economy in such rough times and assist the most defenseless representatives of the USA. A well-known philanthropist insisted on a point of view – fresh investments are crucial to constructing on new facilities and modernization of public education in the USA. He also insisted that problems of diseases abroad must be solved immediately, but without extra costs it wouldn’t be possible ...
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 President George W. Bush, in what could be his final overseas trip as president, called on international leaders to continue his administration's push for free trade despite the global financial crisis. |
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 Gasoline prices continued to sink, falling for the 67th day in a row, according to a national survey of gas station credit card swipes released Sunday. |
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| European stocks climbed Monday, lifted by the U.S. federal government's plan to rescue beleaguered financial giant Citigroup. |
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 Nov. 24 (Bloomberg) -- Citigroup Inc., facing the threat of a breakup
or sale, received $306 billion of U.S. government guarantees for
troubled mortgages and toxic assets to stabilize the bank after its
stock fell 60 percent last week. Citigroup also will get a $20 billion
cash injection from the Treasury Department, adding to the $25 billion
the company received last month under the Troubled Asset Relief Program. |
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 NEW YORK (CNN) -- Washington Mutual announced Thursday it will
eliminate 1,600 jobs in the San Francisco area, a company spokesman
said.
Employees will receive their 60-day notice December |
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 MIAMI (Reuters) - Like many other elderly Americans,
Edie Stark has been hard hit by the meltdown in U.S. financial markets.
She is 84 and has been worried a lot lately about outliving her savings. A retired nurse, Stark is a prime example of what financial planners coldly call "longevity risk" |
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 Life Plaza Center in San Gabriel used to teem with diners heading to
Green Village, a Chinese restaurant in the middle of the
horseshoe-shaped mall on Valley Boulevard.
But after the eatery closed five months ago, the 7,500- square-foot
space remained vacant. With no tenants stepping forward and fewer
customers clogging the parking lot, the plaza is quiet, with a
curiously dark core. |
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 U.S. Attorney General Michael Mukasey collapsed while giving a speech at a Washington hotel. He was taken to the hospital where he later was reported to be awake and talking. "The attorney general is conscious, conversant and alert," said Peter Carr, a Justice Department spokesman. |
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