Market Gawk

WASHINGTON (MarketWatch) — The weak unemployment report has raised fears of a recession, sending economists rushing to the bedside of the American consumer for fear spending will slow down.

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BOSTON (MarketWatch) — The more money people have at stake, the more they value assistance and guidance. That’s the not-so-surprising conclusion from a study by Financial Research Corp. examining what drives investors to seek help, advice and specialized products.

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SAN FRANCISCO (MarketWatch) — Countrywide Financial Corp. said late Friday that up to 20% of its employees stand to get laid off within three months, as the nation’s largest mortgage lender slashes costs in a desperate attempt to stay financially afloat.

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DAMASCUS, Md. (MarketWatch) — You tell us what oil prices are likely to do in the weeks and months ahead, and you will get the title of official Swami from our road test department.

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SAN FRANCISCO (MarketWatch) - U.S. stocks are expected to extend their declines next week, following a sell-off from Friday after a weak August payrolls report stoked fears that economic growth has stalled in the wake of the subprime- and credit-market turmoil, strategists said.

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In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of Sept. 3-7:

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Malcolm Wall Morris has been appointed the new CEO of the Dubai gold and Commodities Exchange (DGCX). Morris is presently Head of Business Development, Commodity Products, at Liffe and prior to this he was Vice President, Business Development with eGreenCoffee.com, an online market place. Morris will take up his post at the DGCX in November.

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Dubai World is seeking a one year $2.7bn loan to help fund its recent $5.2bn purchase of a 9.5% stake in MGM Mirage and its joint venture involvement in the latter’s CityCenter project in Las Vegas, reported Reuters citing un-named bankers. Meanwhile, subsidiary DP World is looking to tie up a five year revolving $2.5bn loan.

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Saudi Arabia’s Tadawul All Share Index (Tasi) started the trading week with a solid gain of 1.6% today, Saturday. The bourse closed on 7,977.1 points, a rise of 123.4 points. The Alahli Takaful Company was the big gainer, with its share price advancing almost 10% to SR212.8, while the Saudi United Co-operative Insurance Company wasn’t far behind, gaining 9.9% to reach SR78.

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Istithmar has completed its acquisition of luxury retail chain Barneys New York for a purchase price of $942.3m. The company announced the closing of the deal following the signing of definitive documents last month and obtaining clearance from US antitrust authorities. Istithmar was involved in a bidding war for the retail chain with Japan’s Fast Retailing Company, which saw the price balloon from an initial $825m.

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