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?
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. Signs of economic recovery may be glimmering on the horizon, but you wouldn't know it by looking at the shops on Main Street.
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.
Citigroup could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said Thursday, while industry groups are easing their opposition to the plan. Read full story for latest details.
Read full story for latest details.
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.
Four banks folded Friday, bringing the total number of banks to fail this year to 13. 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.
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 real estate market is so awful that buyers are now scooping up homes for as little as $1,000.
Read full story for latest details.
The world's eighth largest economy is on the verge of issuing IOUs. 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.
Stocks seesawed Thursday on worries about the consumer after weak retail sales, and ahead of the December employment report which is expected to show massive job losses.
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.