WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday signaled a readiness to lower U.S. interest rates in a dramatic shift to support an economy battered by a financial crisis of "historic dimension."
NEW YORK (Reuters) - A former top executive at UBS AG agreed to pay $6.5 million to settle accusations he sold his personal holdings of auction-rate securities after acquiring insider information about the collapsing market for the debt, New York's attorney general said.
NEW YORK (Reuters) - Stocks extended losses on Tuesday, with the Nasdaq and the S&P 500 briefly falling more than 3 percent, after Federal Reserve Chairman Ben Bernanke cautioned that downside risks to economic growth have worsened, though he signaled a readiness to lower interest rates.
NEW YORK (Reuters) - Bank of America Corp has received orders for about two-thirds of the $10 billion of shares it is looking to sell, and plans to price the transaction after the market's close on Tuesday, according to two investors that spoke to the bank.
WASHINGTON (Reuters) - The Federal Reserve on Tuesday said it would begin buying the short-term debt many companies use to fund their day-to-day operations, its latest emergency move to try to restore credit flows and protect the economy.
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