Regional bank in Illinois fails
08.06.09
Bank of Lincolnwood was shuttered by Illinois regulators Friday, bringing the number of failed banks this year to 37 and costing the Federal Federal Deposit Insurance Corp.'s deposit insurance fund $83 million.
JPMorgan Chase and Citigroup Inc. announced plans Friday to temporarily halt foreclosures as the government works to finalize the details of a financial rescue package that could include billions of dollars in aid for struggling homeowners. Three regional banks were closed Friday, bringing the total number of failed banks this month to six, as the financial crisis continues to take a toll on small banks nationwide.
The government's first step toward thawing the frozen market for small business loans will take effect next month, in a behind-the-scenes move to unlock the capital some banks rely on to finance their small business lending.
It's starting to look like the spring awakening in bank stocks may not be enough to save the CEOs of America's biggest troubled banks, Citigroup's Vikram Pandit and Bank of America's Ken Lewis. Mark Vilrokx, 37, and Carine Beysen, 35, ought to ace retirement. The San Mateo, Calif. couple have great jobs - he's a manager at Oracle, she's a research director for a biotech company - and they earn a combined $210,000 a year. They have no mortgage, no student loans, no car loans, no credit-card debt. They're also diligent savers who put away a hefty chunk of their income every year for retirement.
There's retirement living, and then there's living it up in retirement. The latter is part of the draw of one of the fastest-growing retirement options - the continuing-care retirement community. These CCRCs, as they're called, often look a lot more like four-star resorts than old folks' homes.
Consumer borrowing decreased sharply in November as the weak economy continued to weigh on household budgets.
Fair Isaac - they're the company that develops the formula that determines your FICO credit score - is rolling out a new version FICO 08 with the credit bureau TransUnion. Just days before Chrysler LLC is supposed to show the government it can become a healthy company, the automaker has been scrambling to get dealers to order more cars.
After closing out the Dow industrials and S&P 500's worst January ever, investors might be hoping for a little breathing room before the next wave of negative reports hit. No such luck.
The May jobs report, which showed the lowest level of cuts since September, sent stocks slightly higher Friday on more hopes that the economy may soon be on the upswing.
Still lucky enough to have a job? You're likely doing the work of two or three people, working longer hours and not getting any extra pay.
Home price declines have sent affordability soaring. Prices have fallen so far that the average U.S. home is now undervalued by 12.2%, according to a new report from IHS Global Insight. For years we've been hearing about the nation's crumbling and outdated electricity grid.
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Playing the China boom
15.12.09
It happens every weekday: A group of ladies gathers at the cavernous, badly lit stock-brokerage office on Shanghai's Xiangyang Lu in what was once, when China was colonized by European powers last century, known as the French Concession. There are usually at least four, and sometimes as many as eight.
With ads off the air, Tiger takes leave from golf
15.12.09
Tiger Woods is all over the TV, but his ads haven't been.
Get your 401(k) above pre-crash levels
15.12.09
With stocks up more than 60% since hitting bottom last March, the red ink is finally fading on the typical 401(k) account.
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Want to create jobs? Import entrepreneurs
15.12.09
A five-foot robot sits in Jon Wheatley's chair during most U.S. investor presentations, listening, speaking, and watching the meeting as Wheatley maneuvers it from a laptop in London. The shtick draws attention to Wheatley and his company, social media Web site DailyBooth.com, but the robot (provided by one of his investors) serves a purpose: Wheatley cannot set foot in the United States.
High court rejects challenge to Chrysler's sale
15.12.09
The Supreme Court again Monday turned away the latest challenge to Chrysler's bankruptcy and sale to Italian automaker Fiat.
Housing outlook for 2010
15.12.09
In a dour year for the economy, the housing market has offered some glimmers of hope. Home sales have improved, recently hitting their highest level in more than two years. There's been talk of bidding wars resuming in places like Silicon Valley and New York City. And cocktail party chatter everywhere has started to turn to talk of a bottom. So at least where housing's concerned, things are looking not so bad -- right?
Chrysler, GM dealers ready to fight for resurrection
15.12.09
As Chrysler and General Motors get ready to sit down and talk with owners of some of the nearly 2,000 dealerships given death sentences, dealers are rolling up their sleeves and preparing to fight for their businesses' lives.
Exxon to buy XTO in $41 billion deal
15.12.09
Exxon Mobil said Monday it will buy natural gas producer XTO Energy Inc. for $41 billion in a stock and debt transaction.
Turn on the home-equity tap again
15.12.09
The home-equity line of credit fueled thousands of extreme kitchen makeovers during the real estate boom. But the housing bust and the credit crisis stopped the HELOC party with a vengeance: Tens of thousands of homeowners had their lines cut or frozen, and most lenders stopped issuing new ones altogether.