With the prospects of an auto bailout this week all but dead, Democratic leaders said Thursday that Congress would return in December to consider extending a $25 billion lifeline for troubled U.S. automakers if the companies devise a "viable" recovery plan.
Bank stocks plunged again Thursday with some of the biggest names in the industry falling to their lowest levels in more than a decade. It's anybody guess when the selloff will end.
General Motors has a market capitalization of less than $2 billion. The stock, which now trades for a little under $3 a share, hit a 70-year low of $1.70 on Thursday morning before recovering a bit.
Mortgage rates fell for the third week in a row amid reports of record-high job losses, weak retail sales and a home-construction market in a deep slump.
The Federal Reserve announced Thursday that it will hold a two-day meeting in December to weigh its next move on interest rates and to make a fresh assessment of the economy.
The United Auto Workers union called on Congress and the Bush administration on Thursday to get a loan to U.S. automakers to prevent their collapse before the legislature adjourns Friday.
A key market for business lending has expanded for the fourth straight week, but the growth was only incremental, according to Federal Reserve data released Thursday.
GMAC Financial Services announced Thursday that it is seeking government assistance, trying to access the $700 billion set aside for banks that its parent General Motors has so far been denied.
U.S. stocks were poised to extend losses Thursday, as investors eye jobless claims at a 16-year high and as Saudi prince Alwaleed increases his stake in Citigroup.
Citigroup's largest individual shareholder, Saudi Prince Alwaleed Bin Talal, said Thursday he planned to increase his stake in Citigroup back to 5%, even as shares of the firm have plummeted in recent weeks.
I was thinking about the financial mess the other day and I came up with this theory. I'm wary of it because it's comforting, even uplifting, and by definition any economic supposition that has a happy ending is suspect. So with that caveat here goes:
Gasoline prices continued to spiral toward $2 a gallon, falling for the 64th day in a row, according to a national survey of gas station credit card swipes released Thursday.
All the foreclosure prevention plans announced to date will do little to help the next wave of delinquent homeowners, who can't make their monthly payments because they've lost their jobs.
So you've discovered how to network on Facebook and LinkedIn and you've even been known to forward the occasional YouTube video to colleagues. Well, don't go congratulating yourself on how au courant you are just yet.
While U.S. merchants are a few weeks away from wrapping up a potentially disastrous 2008, experts say there is some relief on the horizon in 2009 for both stores and consumers - and it's coming from thousands of miles away in China.
Overseas stock markets fell sharply Thursday, taking a cue from Wall Street, as investors remained anxious about the grim outlook for the global economy and corporate profits.
Nordic countries agreed to lend struggling Iceland $2.5 billion to help it recover from a series of crippling bank failures, bolstering a $2.1 billion aid package from the International Monetary Fund, their governments announced Thursday.