Economy - Articles

7 banks closed in Fla., Ga., Ill., Kan., Ariz.
Associated Press - Fri Oct 22, 2010
WASHINGTON - Regulators on Friday shut down a total of seven banks in Florida, Georgia, Illinois, Kansas and Arizona, lifting to 139 the number of US banks that have fallen this year as soured loans have mounted and the economy has sputtered. More»

Disturbing Job Ads: 'The Unemployed Will Not Be Considered'
Huffington Post - Thu Jun 3, 2010
Still waiting for a response to the 300 resumes you sent out last month? Bad news: Some companies are ignoring all unemployed applicants. More»

Republican Senator Says "Tough Shit" to Unemployment Extension
CNN - Thu Feb 25, 2010
Washington - The Senate adjourned Friday without approving extensions of cash and health insurance benefits for the unemployed after a lone senator blocked swift passage due to his insistence that Congress first pay for the $10 billion package. More»

Cities, counties take back corporate tax breaks
Associated Press - Fri Jan 1, 2010
CHICAGO - Cash-strapped communities have a message for corporations that promised jobs in return for tax breaks: A deal's a deal. More»

2 more Ga. banks fail; making it 23 in past year
Atlanta Journal-Constitution - Fri Aug 21, 2009
GEORGIA - A pile of bad real estate loans and not enough cash to cover the mounting losses - That toxic formula claimed two more small Georgia lenders on Friday: First Coweta Bank of Newnan and ebank of Atlanta. More»

Hot in recession: Chocolate, running shoes, Spam
Associated Press - Fri May 15, 2009
WASHINGTON - It's not all doom and gloom in the US economy - Some products are bucking the recession and flying off store shelves. More»

Freedom Bank fails, seventh to close in Georgia
Atlanta Journal-Constitution - Fri Mar 6, 2009
Another small bank has failed in Georgia: Federal and state regulators on Friday seized Freedom Bank of Georgia in Commerce, the seventh Georgia bank to fail in the past seven months. More»

FDIC warns US bank deposit insurance fund could tank
AFP - Wed Mar 4, 2009
WASHINGTON - The US government is warning banks that its deposit insurance fund could go broke this year as bank failures mount. More»

Obama signs stimulus bill, readies homeowner plan
Associated Press - Mon Feb 16, 2009
Racing to reverse the country's economic spiral, President Barack Obama signed the mammoth stimulus package into law Tuesday and readied a new $50 billion foreclosure rescue for legions of Americans who are in danger of losing their homes. More»

Folding dealers shock car buyers with unpaid liens
Associated Press - Sun Feb 1, 2009
SACRAMENTO, California - The national wave of auto dealership closures has come crashing down on thousands of people who are on the hook for used-car loans that dealers were supposed to absolve. More»

Tens of thousands more layoffs are announced
Associated Press - Sun Jan 25, 2009
WASHINGTON - It's already been a lousy year for workers less than a month into 2009 and there's no relief in sight. More»

Revealed: Day the banks were just three hours from collapse
Daily Mail, UK - Sat Jan 24, 2009
Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown's Ministers has revealed. More»

State unemployment claim systems overwhelmed
Associated Press - Tue Jan 6, 2009
ALBANY, New York - Electronic unemployment filing systems have crashed in at least three states in recent days amid an unprecedented crush of thousands of newly jobless Americans seeking benefits, and other states were adjusting their systems to avoid being next. More»

Investor who lost big to Madoff kills himself
Associated Press - Mon Dec 22, 2008
NEW YORK - A fund manager who lost more than $1 billion of his clients' money to Bernard Madoff was discovered dead Tuesday after committing suicide at his Manhattan office, marking a grim turn in a scandal that has left investors around the world in financial ruin. More»

AP study finds $1.6B went to bailed-out bank execs
Associated Press - Sun Dec 21, 2008
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. More»

Motor City's woes extend beyond auto industry
Associated Press - Fri Dec 19, 2008
DETROIT - One measure of how tough times are in the Motor City: Some of the offenders in jail don't want to be released; some who do get out promptly re-offend to head back where there's heat, health care and three meals a day. More»

Credit card holders livid about 'rate-jacking'
CNN - Wed Dec 17, 2008
It arrived in Rich Stevens' mailbox a few weeks ago: the notice that Citibank had "rate-jacked" the Visa cards belonging to him and his wife. More»

Goldman Sachs reports huge loss
BBC - Mon Dec 15, 2008
US financial giant Goldman Sachs has reported a $2.12bn quarterly loss, its first since the investment bank went public in 1999. More»

Best Buy 3Q profit sinks, offers staff buyouts
Associated Press - Mon Dec 15, 2008
MINNEAPOLIS - Best Buy, the nation's biggest consumer electronics retailer, said Tuesday that its third-quarter profit sank 77 percent as it faced dramatic changes in consumer spending. More»

How Freddie Mac halted regulatory drive
Associated Press - Mon Dec 8, 2008
WASHINGTON - From a hefty lobbying budget to the use of free baseball tickets, Freddie Mac fended off any meaningful regulation in the years before the housing mortgage giant crashed, records obtained by The Associated Press show. More»

Tribune Co. files for bankruptcy
Associated Press - Sun Dec 7, 2008
NEW YORK - Tribune Company - owner of the Los Angeles Times, Chicago Tribune, Baltimore Sun and other dailies - filed for Chapter 11 bankruptcy Monday, the first major newspaper publisher to take such a step since the Internet plunged the industry into a desperate struggle for survival. More»

Ford asks for $9 billion Bail-out
Associated Press - Mon Dec 1, 2008
WASHINGTON - Ford Motor Company is asking Congress for a $9 billion "stand-by line of credit" to stabilize its business, but says it doesn't expect to tap it. More»

It's official: US has been in a recession all year!
Associated Press - Mon Dec 1, 2008
WASHINGTON - It's official - The US economy has been in a recession for the past year. More»

DHL to cut 9,500 jobs and close US service centers
Associated Press - Sun Nov 9, 2008
FRANKFURT, Germany - Deutsche Post AG will close all of its DHL Express service centers, cut 9,500 jobs in the United States and eliminate US-only domestic shipping by land and air, the company said Monday, citing heavy losses and fierce competition. More»

Exxon Mobil posts biggest US quarterly profit ever
Associated Press - Wed Oct 29, 2008
HOUSTON, Texas - Exxon Mobil Corp, the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a US corporation, earning $14.83 billion in the third quarter. More»

Greenspan denies blame for crisis, admits 'flaw'
Associated Press - Wed Oct 22, 2008
WASHINGTON - Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation's economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a "state of shocked disbelief". More»

U.S. Nationalizes Nine Major Banks
Washington Post - Mon Oct 13, 2008
The US government is dramatically escalating its response to the financial crisis by planning to invest $250 billion in the country's banks, forcing nine of the largest to accept a Treasury stake in what amounts to a partial nationalization. More»

Leaders May Close World's Markets
Bloomberg - Fri Oct 10, 2008
Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they "rewrite the rules of international finance. More»

Some state unemployment funds drying up
CNN - Tue Oct 7, 2008
The demand for unemployment benefits across the country has put a strain on state unemployment funds, with such funds in at least 10 states facing insolvency in 2009, according to a policy group. More»

Retirement accounts have lost $2 trillion so far
Associated Press - Mon Oct 6, 2008
Americans' retirement plans have lost as much as $2 trillion in the past 15 months - about 20 percent of their value - Congress' top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers' nest eggs. More»

Page 1, 2, 3

Back to Economy

Economy - Articles

Economy

Browse