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January 05, 2009
Dec. auto sales fall more than 30 percent for GM, Ford,
U.S. auto sales plummeted last month.
January 02, 2009
Wall Street enjoys upbeat start to 2009
Wall Street started the new year with a big rally, sending the Dow Jones industrials up more than 250 points and to their first close above 9,000 in two months.
Wall Street sees quiet start to 2009
Wall Street is largely brushing off a weaker-than-expected report on the manufacturing sector.
December 26, 2008
Brother: Madoff suicide investor lost own money
He didn’t just lose his clients’ money with Bernard Madoff.
December 23, 2008
Madoff investor found dead of possible suicide
The founder of a hedge fund that invested with Bernard Madoff has been found dead at his Manhattan office.
December 21, 2008
AP study finds $1.6B went to bailed-out bank executives
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses and other benefits last year.
December 19, 2008
Citizens Financial Group to lay off 900 workers
Citizens Financial Group says it’s laying off 900 employees.
Stocks finish mixed
Stocks closed mixed, but little changed today as investors considered the ramification of the government’s plan to help the ailing auto industry.
December 16, 2008
Stocks soar on Fed rate cut
Stock prices closed sharply higher on Wall Street.
Stocks soar on Fed rate cut
Stock prices closed sharply higher on Wall Street.
SEC staff failed to probe Madoff: Cox
Staff at the Securities and Exchange Commission failed many times over a decade to fully investigate credible allegations of wrongdoing by money manager Bernard Madoff, the head of the SEC says, calling it a serious agency breakdown.
Fed cuts target for key rate to record low
The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use “all available tools” to combat a severe financial crisis and prolonged recession.
December 11, 2008
Bank of America to cut thousands of jobs
Bank of America Corp. says it expects to eliminate 30,000 to 35,000 jobs over the next three years.
December 05, 2008
Stocks rebound
Stocks have shaken off the losses that mounted following the worst monthly employment report in 34 years.
December 02, 2008
GM, Ford, Honda, Toyota report lower November sales
There’s not much besides bad news in the latest auto sales figures released today, as consumer concern about the slumping economy continues.
Chrysler Nov. US sales drop 47 pct; GM down 41 pct
Chrysler says its November U.S. sales plunged 47 percent, blaming a slumping industrywide demand and a planned drop in fleet sales.
November 25, 2008
Economy’s tumble even worse than expected in third quarter
The economy shrank more than expected in the third quarter.
November 24, 2008
Stocks soar after government bailout of Citigroup
Wall Street has barreled higher for the secondstraight session, this time in a relief rally over the government’s plan to bail out Citigroup Inc.
Report on existing home sales to be released
We’ll get an update on the housing market slump today, as the National Association of Realtors reports on existing home sales.
Citigroup fears send world markets lower
Some of those losses have started to recede though, now that the U.S. government has announced a plan to rescue the troubled banking giant.
November 20, 2008
Market unrest continues
Asian stock markets are headed down again amid fears of a protracted recession that sent Wall Street plunging to it lowest point in five years.
November 19, 2008
US housing starts hit record low
The Commerce Department reported Wednesday that construction of new homes and apartments dropped more than expected to an annual rate of 791,000 units from an upwardly revised September rate of 828,000 units.
Largest consumer price drop in 61 years reported
The Labor Department reports that consumer prices fell by 1 percent last month, the biggest one-month decline on records that go back to February 1947.
November 18, 2008
Paulson, Bernanke to testify before congress
They’re expected to explain why the administration has ditched its original strategy behind the rescue.
Asian markets continue slide
They sank after Wall Street retreated and global financial firms announced another round of massive layoffs, adding to gloom about the world economy.
November 17, 2008
Yahoo to replace Yang as CEO, ending rocky reign
Yahoo will replace founder Jerry Yang as CEO as soon as a replacement is found.
Treasury sets new deadline for banks to apply
The government says 3,800 banks will have until early December to apply for a share of the $700 billion financial system rescue program.
Stocks stage late decline
Stocks capped today’s session with another late decline.
Survey: Economists see prolonged recession
The economists expect the jobless rate to rise to 7.5 percent by the end of next year.
GM selling stake in Suzuki
Suzuki Motor Corp. says General Motors Corp. will sell its stake in the Japanese automaker for 22.37 billion yen, or $230 million, to raise cash.
