After stock futures fell so sharply that their trading had to be halted on Friday morning, U.S. stocks dropped sharply at the opening, down more than 400 points. Dismal corporate earnings and poor economic data around the world prompted the global sell-off. | New York Times

Oil cartel cuts production | Marketwatch

Sales of existing homes show biggest jump since July 2003 | Reuters/San Diego Union-Tribune

PNC Financial will buy National City banks for $5.2 billion | Bloomberg

The former Federal Reserve Chairman told a House committee Thursday that the nation will emerge from the current credit crisis with a "far sounder financial system." Greenspan said that whatever regulatory changes are made to respond to the crisis, "they will pale in comparison to the change already evident in today's markets." | CNNMoney

Jobless claims rise, home prices drop | Wall Street Journal

Stocks finish higher Thursday after another roller-coaster session | New York Times

WeCar, the Enterprise car-sharing program that allows members to rent an accessibly parked hybrid on an hourly basis, debuted in St. Louis earlier this year and has been gathering members ever since.

Wachovia said Wednesday that it lost nearly $24 billion during the third quarter, producing results well below Wall Street's already lowered expectations. The battered banker's St. Louis-based brokerage business contributed to the financial carnage thanks, in part, to a decline in fees caused by a sinking stock market and to expenses for settling problems with certain securities.

After months of back and forth, the National Park Service has selected its preferred plan for the Arch grounds. It includes, among other things, a design competition to generate even more ideas. The preferred plan also calls for an elevated deck  or "lid" over Memorial Drive to connect the Arch grounds with downtown, a featured favored by Mayor Francis Slay and the Danforth Foundation. Yet already there's concern that the park service's preferred option might not include a major new attraction, such as a cultural museum -- something that the Danforth Foundation considers essential and even has offered to help build. 

The Federal Reserve chairman stopped short of an outright recommendation, but he did tell the House Budget Committee Monday that new spending measures to help revive the economy would be "appropriate." Asked whether the economy is in a recession, Bernanke would say only: "We are in a serious slowdown." | CNN

Transcript of Bernanke's prepared remarks. | Federal Reserve

Testimony sends stocks higher. | New York Times

Washington's intervention in the recent financial meltdown will probably make money for taxpayers, was "elegantly designed" and is in no way a prelude to a second Great Depression, a panel of financial experts said Friday at Washington University.

Anheuser-Busch's stock has behaved erratically this month. Because the stock has occasionally reached uncomfortable levels, some analysts wonder if the sale to InBev might be delayed, restructured or even cancelled. Deteriorating economies in the U.S. and Europe plus several unwelcome events have also created uncertainty among investors. For its part, though, InBev insists the deal will close by year-end as promised -- and at the full price. 

Financing may be the sticking point hanging up a merger between Chrysler and G.M, sources told various news organizations. The Wall Street Journal reported that G.M. hopes to have a deal by the end of the month. | Detroit Free Press

President Bush said Friday that government rescue measures are big enough to handle the economic crisis. Much of his speech was an explanation of why he embraced policies that, as a free market advocate, he would normally abhor. | AP/Detroit News 

In more bad economic news, new home construction dropped to the lowest level since 1991. | New York Times