Banco Santander to Acquire Sovereign

Echoing a wave of earlier consolidation in the banking industry, Banco Santander of Spain, which already owns 25 percent of Sovereign Bancorp, agrees to buy the remaining stake in the large Philadelphia thrift.

GM Announces 2 Plant Closures

General Motors announced that it would stop operations at a Wisconsin plant that makes the GMC Yukon and the Chevrolet Tahoe and Suburban SUVs in December. The company also disclosed that it will close a Michigan metal stamping plant. These closures will affect more than 2,500 employees.

Has the Market Finally Turned a Corner?

Stats show that our once crippled market may be making a slight turn-around. Today the market has closed with 900 points...a record-breaker.