By Mara Der Hovanesian Investors are quickly losing faith in Citigroup (C). Shares of the company, once the largest and mightiest US bank by assets and market value, have fallen 66% in November, and finished down 1.85, to 4.55, on Nov. 20.
The UAW is negotiating the possible elimination of its controversial jobs bank and is considering other concessions to help Detroit's automakers win low-cost loans from Congress, people familiar with negotiations said late Thursday.
By Zachary A. Goldfarb Fannie Mae and Freddie Mac announced yesterday that they are temporarily suspending foreclosures and evictions during the holiday season in an effort to keep people from losing their homes.
NEW YORK, Nov 20 (Reuters) - Verizon Wireless (VZ.N: Quote, Profile, Research, Stock Buzz) said on Thursday that some employees had gained unauthorized access and viewed a personal cell phone account held by President-elect Barack Obama that is now ...
By V. Phani Kumar, MarketWatch HONG KONG (MarketWatch) -- Most Asian markets rebounded strongly in afternoon trading Friday, with financials such as Mizuho Financial Group and HSBC Holdings leading the bounce after a string of recent declines.
By Chris Oliver, MarketWatch HONG KONG (MarketWatch) -- The Bank of Japan's Policy Board voted unanimously Friday to hold its key overnight call rate unchanged at 0.3%, as expected.
By Marisol Bello, USA TODAY As the number of people filing claims for unemployment benefits hits a 16-year high, states are imposing higher taxes on employers and reducing benefits to replenish dwindling accounts.
By Nesa Subrahmaniyan and Christian Schmollinger Nov. 21 (Bloomberg) -- Crude oil traded near the lowest level since May 2005, after falling almost $100 a barrel below its July peak as a deepening recession slows demand for autos and prompts factories ...
Here's a thought experiment for you. If you slash prices at the expense of profits during an economic downturn, will you own more of the market than rivals when the dust settles?
By Eliana Raszewski Nov. 21 (Bloomberg) -- Argentina’s Senate approved President Cristina Fernandez de Kirchner’s plan to nationalize about $24 billion in private pensions, a move the opposition calls a cash grab and the government defends as a way to ...
By Eric M. Weiss US Transportation Secretary Mary Peters stood on a cold and windy airport taxiway and officially opened Runway 1L/19R, radioing the control tower to clear the first plane for takeoff.
, , ) , a diversified energy company with assets in the petroleum refining, marketing and retail industries, today confirmed that a fire at the Company's 60000-barrel-per-day Tyler, Texas, refinery has temporarily caused a halt in production.
By Leah Schnurr NEW YORK (Reuters) - Stocks plunged yet again on Thursday, as a frantic flight from risk prompted by investors' deepening economic fears drove the benchmark Standard & Poor's 500 index to its lowest level since 1997 -- completing the ...
In a 2-1 decision, the court orders a more thorough environmental review of the proposed offshore oil drilling project's effect on fish and endangered bowhead whales.
(11-20) 19:12 PST -- With banks unloading a record number of foreclosures, Bay Area home sales soared and the median price plummeted in October, according to a real estate report released Thursday.
By Paul Davidson, USA TODAY Crude oil prices tumbled below $50 Thursday for the first time since May 2005 as jobless claims hit a 16-year record and financial markets sank.
By Ron Harui and Stanley White Nov. 21 (Bloomberg) -- The yen declined against the dollar and the euro as a rebound in Asian equities revived demand for higher-yielding assets financed with loans in Japan.
NEW YORK (AP) - The New York Times Co. is slashing its quarterly dividend by 74 percent amid a worsening advertising slump, a move that will save the company money but also curtail the income of the Sulzberger family, the controlling shareholders of ...
MOSCOW, Russia (CNN) -- The Russian parliament was expected Friday to approve a constitutional amendment to extend the presidential term from four to six years.
By Geoff Dyer in Beijing China’s employment outlook is becoming “grim”, say officials, as the global financial crisis triggers fresh factory closures in the export sector.
A look at the political reasoning behind the decision by Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi to give the Big Three auto makers another shot at a $25 billion loan.
Democratic leaders in Congress decided to delay a vote to bail out automakers until December and will first demand the Big Three show how the funds would transform the industry.
New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market.
Strapped consumers are rejoicing at falling prices. But some economists warn of the growing risk of a ruinous downward price spiral called deflation. Here's what's at stake.
Oil prices on hit levels not seen in more than three years and retail gas prices are now below $2 across nearly half of the country on dour reports suggesting an economic pullback.
Commercial banks and investment firms reduced borrowing from the Federal Reserve's emergency lending program over the past week, although demand for the loans was still elevated.
After pushing steep discounts throughout November that are usually reserved for the day after Thanksgiving, retailers are offering even bigger cuts and promotions for Black Friday.
A rising number of people have seen their retirement plans evaporate. As 401(k)s dwindle, their dreams of golden years are being replaced by feelings of hopelessness and anger.
Many Americans nearing retirement are bombarded with invitations to attend financial management seminars. A free lunch is offered. But that lunch may prove to be pricey.
