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Fed Sailing Into Treacherous Waters in 2009The uncharted waters into which the Federal Reserve sailed in 2008 could become even more treacherous in the year ahead. Will the unprecedented measures that the Fed, the Treasury, the Federal Deposit Insurance Corporation and other authorities took last year succeed in at last stabilizing the financial system and reviving a torpid economy? Or will the housing mess cause the economic/ financial crisis to drag on? |
Issues Converged to Batter U.S. Economy in 2008Several major factors compounded to batter the U.S. economy during 2008 -- a historical election year. Lawrence White, economics professor at New York University's Stern School of Business, said substantial decreases in home prices "then had substantial consequences for mortgage markets and mortgage-related securities." That triggered the crisis in the financial sector, helping to deepen the national economic downturn. Here's a look back at the economic year that was . . . |
Credit Counseling Requests RisePeople should follow a couple of rules when having financial problems. Changing credit cards habits, making payments, having a plan, and getting some help through an agency are key steps. |
New York Times Ad Revenue Drops 20% in NovemberThe New York Times Co's November advertising revenue fell 20 percent, the company said on Wednesday, illustrating how the financial crisis is aggravating dizzying revenue declines at U.S. newspapers. |
CIT On Target for $2.33 Billion in TARP FundsCIT Group, a commercial finance firm, won preliminary approval to receive $2.33 billion under the government's $700 billion financial bailout program, sending its shares up almost 14 percent in premarket trading. |
Unisys Slashes 1,300 JobsIT services company Unisys Corp said Monday it will slash 1,300 jobs, or more than 4 percent of its work force, and suspend matching contributions to its U.S. 401(k) plan as it moves to cut $225 million in costs. |
Palm Shares Rally with $100 Million InvestementPalm Inc said on Monday that private equity firm Elevation Partners agreed to boost its investment in the struggling smartphone maker by $100 million, sending its shares surging 24 percent. |
Smartphone Maker Reports Record SalesResearch in Motion, the smartphone maker whose BlackBerry devices are the main US competitor to Apple's iPhone, reported record third quarter sales Thursday, and a profit rise of over 7 per cent to 396 million dollars. |
Markets Rise on Reports of Carmaker BailoutU.S. markets headed up Friday as the White House announced a $17.4 billion package to help struggling U.S. automakers. |
S&P Says GE Could Lose 'AAA' RatingStandard & Poor's on changed its outlook on General Electric Corp and its finance arm to negative, and on Thursday said there is at least a one-in-three chance it will cut GE's credit rating from the top "AAA" in the next two years. |
Credit Card Rules to Back ConsumersNew rules for U.S. credit card companies to be released soon are a step forward for consumers, who have lobbied hard for oversight, industry analysts say. The U.S. Federal Reserve, the Office of Thrift Supervision and the National Credit Union Administration was to announce new guidelines Thursday, The Washington Post reported. |