Citi's Vikram Pandit on the hot seat
08.06.09
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.
Prosecutors have accused financier Bernard Madoff - the alleged mastermind of a $50 billion Ponzi scheme - of intending to transfer up to $300 million worth of assets to protect them from seizure, and they want him locked up immediately. Reporters hoping for a free appletini mixed by Chrysler chief executive Robert Nardelli at the Detroit Auto Show are in for a disappointment this year.
It wasn't that long ago that many economists worried that Americans were saving too little.
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. Mortgage rates fell during the past week, pushed lower from the uncertainty stemming from the bank bailout plan unveiled Tuesday.
Exxon Mobil said Monday it will buy natural gas producer XTO Energy Inc. for $41 billion in a stock and debt transaction.
Gasoline prices edged higher Saturday and are now 14% higher from where they started the month, according to a daily survey of credit card swipes.
Read full story for latest details. 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.
The Obama administration plans to release updated details in the coming weeks to guide Congress on the best way to reshape the nation's financial regulatory system and prevent future collapses.
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.
Congress will soon debate what kind of economic stimulus package should be passed, but some economists are increasingly wondering whether it's a good idea to approve any stimulus at all.
President Obama's Cash for Caulkers proposal has almost every homeowner wondering how they'll be able to cash in. Consumer borrowing decreased sharply in November as the weak economy continued to weigh on household budgets.
Stocks gained Monday, with the three leading indexes finishing at new 14-month highs, after Citigroup said it will repay its government bailout funds and Dubai received $10 billion to cover its debt, easing worries that the emirate might default on billions it owes.
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.