| Earnings roundup: Parker Hannifin
CLEVELAND (AP) _ Parker Hannifin Corp., which makes motion-control systems, said Thursday its second-quarter profit rose 9.8 percent on higher industrial sales in North America and internationally. MEMPHIS, Tenn. (AP) _ Regional bank First Horizon National Corp. swung to a loss during the fourth quarter due to rising loan-loss reserves, a reduction in the value of mortgage servicing rights and charges stemming from an earnings enhancement plan. DALLAS (AP) _ Business and consumer banking services provider Comerica Inc. said Thursday its fourth-quarter profit fell 60 percent year-over-year as bad debt more than quadrupled on the continued downturn in Michigan and California real estate development markets. NEW YORK (AP) _ BlackRock Inc.'s fourth-quarter earnings surged as investors shifted money to safer harbors and increasingly sought financial advice amid the ongoing credit crisis, the investment management firm said Thursday.
AP Business NewsBrief at 5:01 p.m. EST
WASHINGTON (AP) _ President Bush's chief negotiator on an economic aid deal said Sunday the Senate should quickly get behind a plan or risk drawing the resentment of a frustrated public. The president and House leaders have agreed on a proposal to provide tax rebate checks to 117 million families and give businesses $50 billion in incentives to invest in new plants and equipment. The goal is to help head off a recession and boost consumer confidence. Wall Street Braces for More Volatilitynews://newsclip.ap.org/D8UEDEJG0@news.ap.orgNEW YORK (AP) _ Investors are exhausted after their whipsaw week, but they're not ruling out another one. All the assumptions Wall Street made when it recovered from steep losses last week _ that the Federal Reserve will cut rates again, that President Bush's stimulus plan will proceed, and that any recession that occurs might actually be shallow and quick _ are going to be tested.
Market falls continue as £84bn is lost on Black Monday
You know, when you look at matters like this, you wonder why our politicians waste time with questions such as "Did Clinton insult Dr, Martin Luther King by giving credit to President Johnson for the 1964 Civil Rights Act?"This is SERIOUS. The end of the US in wotld affairs could be in sight. The end of the US could be in sight.Things may not be as bad for you. I expect a few years of hard times in Europe and Asia is inevitable if the US economy fails, but I believe you'll recover from it and replace the large demand for products and services that came out of the US. The falling European and Asian markets may simply be in anticipation of the hit you will likely take if the US economy sinks beneath the waves.Mine may well be the last great American generation- -the last to have a good standard of living and national security.
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