U.S. government officials in charge of collecting billions in energy royalties stand accused of illicit drug use, taking expensive gifts and engaging in sex with employees of the industry they were supposed to be watching. The Takeaway talks to investigative reporter Derek Kravitz, who is covering the story for the Washington Post.
Shares of Lehman Brothers, the nation's fourth-largest securities firm, have plummeted to the lowest level in a decade. Its upcoming third quarter earnings announcement is expected to reveal record losses. The firm is also reported to be selling its prized investment management business. Guest: Ben White, reporter for The New York Times
OPEC oil ministers agreed to trim overall output by more than 500,000 barrels a day over the next 40 days. The small but symbolic gesture is meant to avoid new turmoil in the markets and prop up falling prices. Javier Blass talked with The Takeaway about the meeting's outcome and the behind the scenes negotiations between Russia and OPEC.
This hurricane season, Haiti has faced down four devastating storms in less than a month. Relief agencies are struggling to help thousands of flood victims, and hundreds of Haitians have died. Meanwhile, in South Florida, home to the largest Haitian expat community in the U.S., money and food has started pouring in.
In a report released this morning, Lehman Brothers has posted losses of 3.9 billion dollars for the third quarter. Shares of Lehman Brothers have fallen to the lowest level in more than a decade, as investors worry that the firm is running out of options to raise capital. Guest: Matthew Bishop, chief business writer for The Economist
News that OPEC could cut more than 500,000 barrels a day of production has sent oil prices to their lowest levels since April 1st. Guest: Javier Blas, commodities correspondent with the Financial Times
U.S. stock futures are eating into overnight gains this morning after an update from Lehman Brothers Holdings failed to allay worries about the future of the firm. Guest: Ben White, New York Times Reporter
The mortgage giant Fannie Mae is in the spotlight this week, but there is another Fannie May that has had its own share of business woes: The Chicago-based confectioner Fannie May. We go down the company's rocky road with David Greising. He's the chief business correspondent for The Chicago Tribune.