U.S. Top News Early Edition: Wall Street tumbles at open on S&P downgrade

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	08/8/2011
Good Morning Omss LATEST NEWS Wall Street tumbles at open on S&P downgrade NEW YORK (Reuters) - Wall Street stocks tumbled at the open on Monday after rating agency Standard & Poor's cut the top-tier AAA credit rating of the United States, rattling already-jittery investors. | Full Article ECB backs Italy and Spain in bid to halt euro crisis August 08, 2011 08:40 AM ET LONDON/PARIS (Reuters) - The European Central Bank intervened dramatically in bond markets on Monday, backing up a verbal pledge to support Spain and Italy with action in an attempt to avert a financial meltdown in the euro zone. | Full Article Debt issuers brace for impact from downgrade August 08, 2011 12:22 AM ET NEW YORK (Reuters) - A downgrade of United States' top-tier credit rating has Wall Street scrambling to figure out the knock-on effects for the financial system, from mortgages to banks to markets that rely on U.S. Treasuries for collateral. | Full Article Moody's says U.S. needs to find more deficit cuts August 08, 2011 04:09 AM ET NEW YORK (Reuters) - Ratings agency Moody's repeated a warning on Monday it could downgrade the United States before 2013 if the fiscal or economic outlook weakens significantly, but said it saw the potential for a new debt agreement in Washington to cut the budget deficit before then. | Full Article Geithner to stay on as Treasury chief August 08, 2011 12:22 AM ET WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner, who had considered stepping down after the government borrowing limit was raised, confirmed on Sunday that he will remain at his post at President Barack Obama's request. | Full Article BUSINESS NEWS AIG sues BofA for $10 billion over "massive fraud" August 08, 2011 09:12 AM ET NEW YORK (Reuters) - The insurer American International Group Inc is suing Bank of America Corp to recover more than $10 billion of losses from a "massive fraud" on mortgage debt, deepening the morass of litigation faced by the largest U.S. bank. | Full Article Safety regulators open probes on Ford, VW cars August 08, 2011 08:42 AM ET DETROIT (Reuters) - Auto safety regulators have opened preliminary investigations into new Ford Motor Co Mustangs with manual transmissions for possible shifting problems and diesel Volkswagen Jetta sedans for possible fuel leaks. | Full Article Verizon shares slump as 45,000 workers strike August 08, 2011 09:25 AM ET NEW YORK (Reuters) - Shares of Verizon Communications fell 3 percent in premarket trading on Monday, a day after nearly half of its wireline business employees went on strike. | Full Article Buffett unit offers $3.2 billion for Transatlantic August 07, 2011 05:34 PM ET NEW YORK (Reuters) - A unit of Warren Buffett's Berkshire Hathaway Inc made a $3.24 billion buyout offer for Transatlantic Holdings Inc, topping two existing rival bids for the reinsurer. | Full Article Britain, other eurozone countries face ratings cut: Jim Rogers August 08, 2011 06:25 AM ET SINGAPORE (Reuters) - Britain and several euro zone countries are likely to have their credit ratings cut in coming months as debt problems worsen, and Western policymakers are bound to embark on more quantitative easing to get their economies moving, American investor Jim Rogers said on Monday. | Full Article HEALTH NEWS Russia says to lift ban on EU vegetables from Aug 9 Experts grow mouse sperm to help with human infertility Kids' packed lunches too warm to be safe: study Turkey recall raises U.S. food safety questions Inappropriate use of blood cell booster widespread RELATED VIDEO Somali famine refugees moved to new camp New Tibetan PM sworn in NATO vows to continue Afghan mission A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. » MORE NEWSLETTERS ODDLY ENOUGH Busy NYC Starbucks block sockets to free up seats Full Article Lobsters liberated by Buddhist intervention Vonnegut library offers banned book to students - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend