Reuters - Citigroup Inc , the largest
U.S. bank, said on Friday it aims to shed $400 billion of
assets -- nearly 20 percent of its total -- over the next two
to three years to become more efficient and profitable.
Reuters - American International Group
said on Friday two rating agency downgrades will likely
increase funding costs for some of its businesses, and has
required it to post $1.6 billion more in collateral.
Reuters - Oil hit a new peak above $126 on Friday,
the fifth straight session of record gains, in a market given
an additional spur by tight supplies of diesel.
Reuters - U.S. crude futures jumped more than $2
to a record high above $126 on Friday, fueled by fund buying
and surging distillate prices on both sides of the Atlantic,
according to traders.
NewsFactor - Small businesses are confident that bleak economic conditions will pass without their being adversely affected by the economic downturn, according to a new study of 250 small-business owners. Or, at the very least, they're keeping a stiff upper lip about the downturn and the prospects for a speedy recovery.
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