Kirberts finance advice and news

NEW YORK - New York City’s comptroller, who helps oversee the city’s pension funds, on Tuesday has said he will investigate whether the failure of Bear Stearns & Co was due to miscalculation or deception, which could cause a lawsuit to recover losses.

NEW YORK - Stocks rang up their largegest one-day gains in more than five years as the S&P 500 jumped on Tuesday after the Fed’s deep interest-rate cut and solid results from two top investment banks reassured investors shocked by Bear Stearns’ sudden downfall.

WASHINGTON - The Federal Reserve slashed a key United States interest rate by three-quarters of a percentage point on Tuesday, a substantial cut but smaller than many in financial markets had expected, as part of an effort to hold off a deep recession and financial meltdown.

NEW YORK - Stocks trimmed sharp gains on Tuesday after the Federal Reserve slashed a key United States interest rate by three-quarters of a percentage point, less than many financial market participants had expected.

NEW YORK - Goldman Sachs Group Inc and Lehman Brothers Holdings Inc on Tuesday reported lower quarterly profits but results for both investment banks topped forecasts, sending their shares soaring.

LONDON - Turmoil and uncertainty over a few of Wall Street’s best-known investment banks has left a few facing rougher market conditions that price them as riskier than developing countries or banks in volatile areas of the world.

NEW YORK - Delta Air Lines Inc unveiled plans to cut 2,000 jobs and scale back flights on Tuesday, leading efforts by United States carriers to cut costs in the face of soaring fuel prices.

DETROIT - United States sales of cars and light tracks are expected to drop sharply in 2008, hitting their lowest level since 1994, influential industry tracking service J.D. Power and Associates has said on Tuesday in a revised forecast.