Chrysler exec: failure could spark depression
Published Thursday, Dec. 4, 2008
A top Chrysler executive warned Wednesday that a carmaker collapse could send the economy spiraling into a depression, while the United Auto Workers agreed to new concessions for their companies. Read More |
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All options on table as Congress reviews autos bailout
Published Thursday, Dec. 4, 2008
All options were on the table on Wednesday as congressional committees scrutinized auto company restructuring proposals and an urgent appeal for $34 billion in aid ahead of make-or-break hearings.
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Lower mortgage rates help but jobs, prices key
Published Thursday, Dec. 4, 2008
The lowest mortgage rates in three years are luring first-time buyers and cost-cutting refinancers, but falling home prices and mounting unemployment will keep U.S. housing in its deepest slump since the Great Depression.
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Paulson said weighing bailout's next $350 billion
Published Thursday, Dec. 4, 2008
Treasury Secretary Henry Paulson is weighing whether to ask Congress for the remaining $350 billion of the financial bailout fund, with White House aides approaching President-elect Barack Obama's transition team about the idea, an Obama aide said on Wednesday.
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Private jobs, services slump show recession toll
Published Thursday, Dec. 4, 2008
Private employers cut 250,000 jobs in November, an unexpectedly large number and the biggest in seven years, while the service sector, which powers most of the economy, posted its worst slump on record.
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Fed officials play down risk of deflation
Published Wednesday, Dec. 3, 2008
The United States does not face a high risk of Japan-style deflation and ought to spell out a target for prices to keep this threat at bay, two top Federal Reserve policy-makers said on Tuesday. Read More |
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Auto sales plunge, slowdown spreads
Published Wednesday, Dec. 3, 2008
The auto industry was hammered again on Tuesday as U.S. monthly sales plunged nearly 37 percent to the lowest level since 1982 and the slump spread to Europe and Asia, forcing automakers to slash production.
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New York Times sees charge for unit closing
Published Wednesday, Dec. 3, 2008
The New York Times Co will cut 530 jobs and take a charge of up to $53 million for closing its City & Suburban unit, which distributes the company's namesake newspaper in the New York City area. Read More |
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Automakers desperate bailout plea gaining support
Published Wednesday, Dec. 3, 2008
A top lawmaker predicted Washington would approve a bailout for U.S. automakers after they submitted survival plans and two of them, General Motors Corp and Chrysler LLC, said that without an immediate infusion of cash they could fail soon. Read More |
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Ex-AOL boss looking to raise cash for Yahoo bid
Published Wednesday, Dec. 3, 2008
Former AOL Chief Executive Jonathan Miller is seeking as much as $30 billion from investors to buy all or part of Yahoo Inc, The Wall Street Journal reported on Tuesday, boosting shares of the Web search engine by 7 percent.
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