Three top officials convened the heads of Wall Street?s biggest investment banks for an emergency meeting to impress upon them the need to find a plan to rescue Lehman Brothers.
AP - A massive Hurricane Ike menaced the darkened Texas coast early Saturday, ensuring a sleepless night for thousands who huddled and waited to find out if a gamble to face the storm head-on could cost them their lives.
AP - A commuter train carrying 222 people collided head-on with a freight train during the Friday afternoon rush, killing at least 10 people, injuring more than 100 and trapping an unknown number of others in a passenger car crushed by its own engine.
AP - The Federal Reserve Bank of New York held an emergency meeting Friday night with top Washington policymakers and major financial institutions to discuss the future of Lehman Brothers.
Hurricane-force winds whipped Galveston Island early Saturday as Hurricane Ike barreled toward Texas. Power failures have hit Galveston and spread throughout the state, the National Hurricane Center said.
At least 10 people were killed and dozens injured Friday when a Metrolink train packed with hundreds of rush-hour commuters collided with a freight train in suburban Los Angeles, officials said.
As Galveston's west end was deluged Friday, Houston officials warned residents to stay put because it was no longer safe to try to escape Hurricane Ike, which has gotten stronger.