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Saturday, 17-May-2008 12:30:02 EDT
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Fed's Lockhart says world will feel U.S. slowdown (Reuters)

Reuters - U.S. exports have been helped by a weaker dollar and this is providing a boost to an otherwise weak economy, Federal Reserve Bank of Atlanta President Dennis Lockhart said on Saturday.

Wall St ends flat as energy gains offset sentiment (Reuters)

Reuters - Stocks finished little changed on Friday as surging oil prices lifted energy shares and offset data that showed consumer confidence sank to its lowest in 28 years.

Consumers' mood as grim as early-80s (Reuters)

Reuters - U.S. consumer confidence tumbled to a 28-year low this month as rising prices strained household finances, while another drop in single-family housing starts underscored problems still plaguing the economy.

AIG to set up services, data centers in Malaysia (Reuters)
Reuters - American International Group Inc plans to establish a global shared services and data centers in Malaysia through one of its subsidiaries, the insurance giant said on Saturday.

American Axle and UAW reach tentative agreement (Reuters)

Reuters - The United Auto Workers and American Axle & Manufacturing Holdings Inc reached a tentative contract agreement late Friday aimed at ending an 11-week-long strike that had triggered thousands of layoffs and cost General Motors Corp at least $1 billion.

Treasury secretary says markets are calmer now (AP)

AP - Treasury Secretary Henry Paulson said Friday that financial markets are "considerably calmer" now than they were two months ago. He predicted the economy will be rebounding by the second half of this year.

SMFG posts big rebound, forecasts modest growth (Reuters)
Reuters - Sumitomo Mitsui Financial Group (8316.T) reported a threefold increase in fourth-quarter profit, rebounding from massive losses at its consumer finance unit a year earlier, and it forecast modest growth ahead.

Abercrombie profit edges up on sales increase (AP)
AP - Teen retailer Abercrombie & Fitch Co. said Friday that its first-quarter earnings rose 3 percent from a year ago on stronger sales.