The Dow, which finished the day after adding 70 points, or 0.6%, to 10,997, crossed the 11,000-point threshold near the closing bell for the first time since September 2008. The S&P 500 improved 8 points, or 0.7%, to 1194, while the Nasdaq went ahead by 17 points, or 0.7%, at 2454.

The tech-heavy Nasdaq also led the other major averages for the week, adding 2.1%. The S&P gained 1.4% since last Thursday’s close, while the Dow picked up 0.6%.

Related posts:

1. Stocks down despite government bail out plan NEW YORK (
2. Should I invest in energy stocks? New Jersey
3. Low-Quality stocks with high gains For the pa

IEA slashes forecast for oil demand – again
Agency sees global demand declining by 2.4 million barrels per day in 2009 amid recession.

LONDON (Reuters) — World oil demand will drop by a hefty 2.4 million barrels per day in 2009, the International Energy Agency said on Friday, citing a growing consensus any recovery in the economy would not take place until next year.

As the rate of oil demand contraction reached levels last seen in the early 1980s, it said outright demand for this year was expected to be 83.4 million bpd, around one million bpd less than in its previous monthly report.

“This is a pretty exceptional period of demand collapsing,” said David Fyfe, head of the oil industry and markets division at the IEA, the Paris-based advisor to oil-consuming countries.

He could not say whether there would be further downward revisions as a shrinking world economy chokes off energy use.

Related posts:

1. Still thinking of investing in oil? NEW YORK (
2. Should I invest in energy stocks? New Jersey

According to emails released Wednesday that pull back the curtain on heated negotiations, Federal Reserve Chairman Ben Bernanke had suggested to another Fed official that “management is gone,” if BofA managers tried to flee the deal and later on needed further government assistance.

He is expected to be asked specifically about whether the Federal Reserve and other government officials pressured Bank of America (BAC, Fortune 500) into completing the merger even after BofA realized how badly Merrill Lynch’s fourth-quarter losses would be.

(source: cnnmoney.com)

Related posts:

1. Colonial BancGroup Inc. – biggest bank failure for 2009 Colonial B
2. Which banks did not pass the stress test Leading th

Related posts:

1. Is it a good time to invest in oil? If you are
2. Thinking of investing in telecommunications stocks? Sprint Nex

Judge Denny Chin of U.S. District Court in New York announced the sentence just moments after Madoff apologized to his victims.

“I live in a tormented state for all the pain and suffering I created,” Madoff said. “I left a legacy of shame. It is something I will live with for the rest of my life.”

Turning to face some of his victims, he addressed them directly: “Saying I’m sorry is not enough. I turn to face you. I know it will not help. I’m sorry.”

Madoff said he was not asking for forgiveness and not offering any excuses for his behavior.

“How can you excuse betraying thousands of investors?” he asked. “How can you excuse deceiving hundreds of employees? How can you excuse lying to and deceiving your wife who still stands by you?”

Victims urged a judge to hand down the maximum life sentence against Bernard Madoff, the mastermind of the largest and most sweeping Ponzi scheme ever.

No related posts.

His death was caused by cardiac arrest, according to his brother Jermaine. But Jermaine Jackson cautioned that the cause of the singer’s death won’t be known until an autopsy is performed. He says the singer’s personal doctor and paramedics had tried to resuscitate him at his home.

Police said they were investigating, which is standard procedure in high-profile cases.

Capt. Steve Ruda of the L.A. fire department was quoted Thursday as saying that paramedics responded to a call at Jackson’s Los Angeles home about 12:30 p.m. local time. The paramedics performed CPR and took him to UCLA Medical Center, Ruda told The Los Angeles Times.

No related posts.

The accelerated plan to cut jobs will be made through a combination of layoffs and job-buyout incentives, GM spokesman Tom Wilkinson said, the Journal reports. Employees on Tuesday received letters notifying them of their options.

The company said in February it would eliminate 10,000 of its 73,000 salaried jobs around the world. The automaker also is cutting executive ranks by 34%, the Journal notes.

GM will have 23,500 salaried workers in the U.S., just over half what it had in 2000, when the job cuts are completed.

Related posts:

1. Dow Touches 11,000 The Dow Jo
2. Stocks to Watch – Lowe’s Cos (LOW) Lowe

NEW YORK (CNNMoney.com) — Two key proposals to improve access to health insurance could reduce the ranks of the uninsured but cost $1 trillion over 10 years, according to preliminary estimates released Monday by the Congressional Budget Office.

The estimates are the first in a series over the next few months that will attempt to quantify the costs and benefits of various health reform options. President Obama, citing the huge part health care spending plays in the economy, has made passing reform this year a top priority.

No related posts.

(source: blackrock.com)

No related posts.

The new regulations stem from legislation Sen. Christopher Dodd inserted as an amendment to the economic stimulus package earlier this year. The legislation affects companies that have received assistance under the $700 billion TARP. One of its provisions requires the Treasury secretary to seek reimbursement of any compensation paid to a TARP recipient’s top 25 employees if Treasury deems the payments contrary to the public interest. To undertake that review, the administration plans to retain Kenneth R. Feinberg, a lawyer who oversaw payments to families of victims of the Sept. 11, 2001, terrorist attacks, according to people briefed on the selection.

Related posts:

1. Banks and TARP NEW YORK (
2. Obama’s mutual fund The vast m
3. Real Estate funds on the up The best-p