“European stocks and U.S. index futures fell on concern credit losses will reduce bank earnings, while slowing economic growth curbs profits for broadcasters and technology companies,” Bloomberg reports.
Goldman Sachs cut its rating on three auto stocks Thursday, including General Motors Corp., lowering its price target to $11 from $19, saying that deteriorating market fundamentals could exacerbate liquidity concerns.
The Associated Press reports that “Goodyear Tire & Rubber Co. plans to expand its cost savings plan and further invest in the emerging markets of Latin America, Eastern Europe and Asia, the company said Thursday.”
Relatives said goodbye to missing family members at the site of a capsized ferry in the Philippines Thursday. Hundreds of bodies are believed trapped in the boat, which ran aground and flipped over with 865 aboard during a typhoon on Saturday.
“White House officials last December sought to stop the Environmental Protection Agency from submitting a proposed rule that would limit greenhouse-gas emissions from new vehicles, agency sources said yesterday,” The Washington Post reports.
Some politicians have reacted angrily to the Supreme Court’s decision Wednesday that the death penalty is unconstitutional in child rape cases. The ruling will halt the efforts of roughly a dozen states supporting the killing of those convicted of raping a child.
The AP reports that “Senate negotiators said Wednesday they had reached a tentative agreement on a key obstacle to one of the most ambitious federal health initiatives ever, a $50 billion act to combat AIDS, malaria and tuberculosis in Africa and other countries hard-hit by those diseases.”
Barack Obama said Wednesday that he disagrees with the Supreme Court’s decision outlawing the execution of child rapists. He said that child rape qualifies as “heinous” and is therefore subject to the death penalty.
“There are dramatic signs that the fabled ‘sleeping giant’ of the American electorate, the Latino vote, has awoken for the 2008 presidential race—putting Republican John McCain and Democrat Barack Obama in heated competition for what could be a game-changing prize,” reports the San Francisco Chronicle.
The board of the Internet Corporation for Assigned Names and Numbers will vote on two proposals Thursday. One proposal would allow domains to use nearly any letter or number combination, opening up the online world of .com and .org to much wider possibilities, such as .sex and .hotel.
There is now a portable, battery-operated CT scanner that can reveal defects in a baseball bat invisible to the human eye. BatteryMate will be introduced Friday at the Society for American Baseball Research's conference in Cleveland.
Detroit musician Kid Rock posted a "special announcement" on YouTube last week urging fans to "steal everything." He says in the video that he's so rich, he won’t complain if fans steal a song or two off the Internet without paying him. But he now tells the Associated Press he was just kidding.