A period of relative calm on Wall Street ended as stocks tumbled in the final hour of trading on growing investor anxiety ahead of the government’s November employment report.
Posted: Thu, 4 Dec 2008 23:16:09 GMT
Fed chief Ben Bernanke called on the government to ramp up efforts to stem soaring home foreclosures, which are feeding into the country’s deep economic troubles.
Posted: Fri, 5 Dec 2008 00:12:42 GMT
More evidence of the nation's deteriorating job market came Thursday with reports that people continuing to draw unemployment benefits climbed to a 26-year high.
Posted: Thu, 4 Dec 2008 20:36:19 GMT
Retailers limped through a miserable November that even a surge of shopping after Thanksgiving couldn’t save, new data show.
Posted: Thu, 4 Dec 2008 20:59:01 GMT
Orders to U.S. factories plunged in October by the sharpest amount in over eight years as a deepening recession caused big cutbacks in demand for steel, autos, computers and heavy machinery.
Posted: Thu, 4 Dec 2008 19:31:07 GMT
The European Central Bank has cut its benchmark interest rate to 2.5 percent, following similar moves by central banks across the continent.
Posted: Thu, 4 Dec 2008 13:02:27 GMT
Federal regulators on Wednesday adopted new rules designed to stem conflicts of interest and provide more transparency for Wall Street’s credit-rating industry.
Posted: Wed, 3 Dec 2008 20:44:45 GMT
Pope Benedict XVI says one of the primary objectives of banks is to support the weakest in society while also spurring productivity.
Posted: Wed, 3 Dec 2008 18:09:11 GMT
The government must toughen its monitoring of the bailout to ensure that banks limit executives’ pay and comply with other restrictions, federal auditors said Tuesday.
Posted: Wed, 3 Dec 2008 00:19:09 GMT
A panel of the National Bureau of Economic Research said Monday that the U.S. economy fell into a recession last year.
Posted: Mon, 1 Dec 2008 19:46:06 GMT
The Bush administration ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.
Posted: Mon, 1 Dec 2008 22:43:23 GMT
No Treasury Secretary has ever entered office with as much responsibility as Timothy Geithner will have.
Posted: Mon, 1 Dec 2008 23:13:31 GMT
Fed chief Ben Bernanke said that further interest-rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive the economy.
Posted: Mon, 1 Dec 2008 20:21:08 GMT
Treasury Secretary Henry Paulson said that the administration is looking for more ways to tap a $700 billion program and will consult with Congress and the Obama administration.
Posted: Mon, 1 Dec 2008 23:03:38 GMT
A measure of U.S. manufacturing activity fell to a 26-year low in November as new orders declined for the twelfth straight month, a trade group said Monday.
Posted: Mon, 1 Dec 2008 17:21:16 GMT
Wall Street will look to build on the strongest weekly performance for stocks since 1932 on Monday, with investors focused on how recession-minded shoppers spent.
Posted: Sun, 30 Nov 2008 21:19:58 GMT
Iranian state TV says the country's Oil Ministry has proposed an OPEC production cut of 2 million barrels per day.
Posted: Sun, 30 Nov 2008 19:45:01 GMT
There is no business plan for what New England heating oil dealers and customers have gone through this year.
Posted: Sun, 30 Nov 2008 18:10:19 GMT
The Federal Reserve boosted its lending to commercial banks and investment firms over the past week, indicating that a severe credit crisis was still squeezing the financial system.
Posted: Sat, 29 Nov 2008 00:20:07 GMT
Even Santa Claus isn't immune to the financial meltdown, and he's getting some sad requests from the kids.
Posted: Fri, 28 Nov 2008 16:27:22 GMT
Oil tumbled below $44 a barrel Thursday and average gasoline prices slipped under $1.80 a gallon, both four year lows.
Posted: Thu, 4 Dec 2008 22:14:02 GMT
The government released a quartet of reports Wednesday that paints a bleak picture of the nation's economy.
Posted: Wed, 26 Nov 2008 19:09:53 GMT
The government says jobless claims fell more than expected last week from a 16-year high, but remain at elevated levels due to the slowing economy.
Posted: Wed, 26 Nov 2008 16:26:10 GMT
How much of Obama's mammoth fiscal stimulus will "leak" abroad, creating jobs in China, Germany, or Mexico rather than the U.S?
Posted: Wed, 26 Nov 2008 18:04:53 GMT
As the financial crisis was gaining force, Americans cut back on their spending in October by the largest amount since the 2001 terrorist attacks.
Posted: Wed, 26 Nov 2008 15:18:19 GMT
The latest move to inject another $800 billion of federal money into the financial system is part of a major, unannounced shift in Federal Reserve policy.
Posted: Wed, 26 Nov 2008 20:47:00 GMT
The U.S. government introduced a pair of new programs Tuesday that will provide $800 billion to help unfreeze the market for consumer debt.
Posted: Wed, 26 Nov 2008 01:34:09 GMT
The economy took a tumble in the summer that was worse than first thought as American consumers throttled back their spending by the most in 28 years.
Posted: Tue, 25 Nov 2008 18:40:27 GMT