Wikinvest Wire

Wednesday morning links

Wednesday, October 29, 2008

TOP STORIES
China cuts rates, Fed and others set to follow - Reuters
Fed May Cut Rate to 1%, Signal Steps to Save Economy - Bloomberg
The truth about deflation - iTulip.com
Consumers Feel the Next Crisis: It’s Credit Cards - NY Times
Why the surge in home sales is bad news - MSN Money
Has the Consumer Finally Caved? - BusinessWeek
Mints struggle to meet metals demand - Calgary Herald

MARKETS/INVESTING
Crude rallies ahead of Fed decision, inventory data - MarketWatch
Gold Advances in London as Dollar Weakens Before Rate Decision - Bloomberg
More companies may end 401(k) match - USA Today
Even as Dow Soars 11%, Skeptics Lurk - NY Times

ECONOMY
September U.S. Durable Orders Ex-Transport Fall 1.1% - Bloomberg
Rattled by Housing Slide, Consumers See Worse to Come - NY Times
California education leaders told to brace for big budget cuts - LA Times
Desperate times, desperate people - MSN Money

HOUSING
Home prices still falling amid gloomy forecast - SF Gate
Week-to-week mortgage applications down 16.8% - MarketWatch
At First Fed, Pushing the Pain Below - Housing Wire
Why Banks Are Reluctant To Redo Ailing Mortgages - CNBC

FED/TREASURY/BANKING
Fed is expected to cut interest rates again today - AP
Libor Declines on Central Bank Cash Funding, Fed Rate Outlook - Bloomberg
Ryan Says Treasury to Need `Unprecedented' Financing - Bloomberg
GMAC Wants to Become Bank After Getting Access to Fed Program - Bloomberg

INTERNATIONAL
China Cuts Interest Rates for Third Time in 2 Months - Bloomberg
Investors shun Greek debt as shipping crisis deepens - Telegraph
Lloyds TSB turns down a third of mortgage applications - Times Online
Canada's housing market 'tracking' U.S. boom and bust - Financial Post
Ukraine May Default Without IMF Loan, Stelmakh Says - Bloomberg
The bigger the party, the longer it takes to clear up the mess - Telegraph

INTERESTING
Panicked Traders Take VW Shares on a Wild Ride - NY Times
Iraq's blast walls become canvases - LA Times

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