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The Big Three Depression risk

Posted: November 20th, 2008, 11:57pm CET

The U.S. auto industry weathered the Great Depression. But there are some fears that its current crisis could cause another one.

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Congress extends jobless benefits

Posted: November 20th, 2008, 11:30pm CET

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Auto bailout: Not now, maybe later

Posted: November 20th, 2008, 11:16pm CET

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.

Big banks get crushed

Posted: November 20th, 2008, 10:46pm CET

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.

Kick GM out of the Dow...now!

Posted: November 20th, 2008, 10:44pm CET

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.

Treasury to backstop mutual fund

Posted: November 20th, 2008, 10:16pm CET

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Dollar mixed amid economic, auto jitters

Posted: November 20th, 2008, 9:43pm CET

The dollar was mixed against major currencies Thursday amid economic jitters and as the fate of the US auto industry bailout remained in limbo.

Mortgage rates down - 3rd straight week

Posted: November 20th, 2008, 9:25pm CET

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.

Fed adds a day to December meeting

Posted: November 20th, 2008, 9:17pm CET

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.

UAW to Congress: Get a deal done

Posted: November 20th, 2008, 8:35pm CET

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.

Foreclosure bailout 'still hopeful'

Posted: November 20th, 2008, 8:28pm CET

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Paulson: Crisis of the century

Posted: November 20th, 2008, 8:13pm CET

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Bipartisan bailout push

Posted: November 20th, 2008, 7:42pm CET

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Lending market in slight expansion

Posted: November 20th, 2008, 7:08pm CET

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.

Regulators probe Wachovia mortgages

Posted: November 20th, 2008, 6:27pm CET

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GM hits lowest price since Depression

Posted: November 20th, 2008, 5:48pm CET

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Oil falls below $50 a barrel

Posted: November 20th, 2008, 3:43pm CET

The plunge in oil prices continued Thursday with prices falling below $50 a barrel as growing concern about the economy weighed on demand.

Jobless claims reach 16-year high

Posted: November 20th, 2008, 3:35pm CET

The ranks of Americans getting by on unemployment insurance are rising fast.

GMAC seeks bailout

Posted: November 20th, 2008, 3:28pm CET

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.

Stocks prepare for a drubbing

Posted: November 20th, 2008, 3:28pm CET

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.

Saudi prince to boost stake in Citigroup

Posted: November 20th, 2008, 3:00pm CET

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.

Safe-haven Treasurys advance

Posted: November 20th, 2008, 2:45pm CET

Demand for U.S. Treasury bonds remained robust Thursday as investors continue to flock to the safety of government debt.

Domestic violence: The dark secret at your job

Posted: November 20th, 2008, 2:20pm CET

Cindy Bischof was not the kind of woman who would normally let a boyfriend get in the way of her career.

This crisis could have a happy ending

Posted: November 20th, 2008, 2:08pm CET

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: Pennies away from $2

Posted: November 20th, 2008, 2:02pm CET

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.

No job, bad mortgage - out of luck

Posted: November 20th, 2008, 1:46pm CET

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.

Oil falls toward $50

Posted: November 20th, 2008, 12:49pm CET

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How to love trillion-dollar deficits

Posted: November 20th, 2008, 12:05pm CET

We're looking at a mind-boggling, trillion-dollar budget deficit next year and I say keep the red ink rolling.

How not to act your age at work

Posted: November 20th, 2008, 12:00pm CET

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.

Shoppers: Wait 'til next year

Posted: November 20th, 2008, 10:53am CET

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.

Global stocks fall sharply

Posted: November 20th, 2008, 10:52am CET

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.

Iceland gets $4.6 billion bailout

Posted: November 20th, 2008, 10:48am CET

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.