Regulatory overhaul proposed...Rough week for stocks...oil prices drop

Washington (AP) The Bush administration is proposing a sweeping overhaul of the way the government regulates the nation's financial services industry. According to a 22-page executive summary obtained by The Associated Press, the plan would give the Federal Reserve broad authority to oversee financial market stability including the power to examine the books of any institution deemed to represent a potential threat.

NEW YORK (AP) Stocks came up a loser yesterday on concerns about the health of the consumer. The Dow industrials finished with a loss of 86 points down 151 points on the week. The Nasdaq composite index was down 19 points, but posted a gain of three points for the week. And the S&P 500, which dropped 10 points, was off 17 for the week.

NEW YORK (AP) Oil futures lost nearly $2 yesterday as a bombed Iraqi oil pipeline was repaired, easing supply concerns. Light, sweet crude for May delivery fell $1.96 on the New York Mercantile Exchange to $105.62 a barrel.

WASHINGTON (AP) A pretty busy week ahead for economic releases. Among the highlights the Labor Department's report on jobs for March and the auto industry's sales figures for the month.

WASHINGTON (Dow Jones/AP) Model-train maker Lionel is a step closer to coming out of bankruptcy. A bankruptcy judge has approved 107-year-old company's reorganization plan, which calls for it to pay all creditors in full with interest and obtain up to 40 million dollars in loans to fund its exit from Chapter 11.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 03-29-08 1051CDT | save this article / add to your favorites list