In a moment of brilliance, Congress, in 1978, recognized that, in business, failure is not only an option, but the inevitable outcome of economic growth. Why is this?
U.S. consumers and businesses are filing for bankruptcy at a pace that made 2009 the seventh-worst year on record, with more than 1.4 million petitions submitted, an Associated Press tally showed Monday.
That this year has been a tough one for small business is no surprise. But just how tough it has been continues to astound. The New York Times looks at seven businesses that failed this year.
Bank holding company Washington Mutual has asked a federal court for the power to make the Federal Reserve, the U.S. Treasury, and a long list of other parties turn over documents and witness interviews related to the bank's 2008 collapse.
Billionaire investor Carl C. Icahn said Friday he has agreed to buy a majority of the first-lien bank debt of Trump Entertainment Resorts, which owns three resorts in Atlantic City, N.J.
The government's $700 billion bailout of the financial system helped prevent an all-out panic last fall but hasn't met many of the targets Congress set out, a watchdog panel says.
Edward E. Whitacre Jr., the new chief executive of General Motors, has one big advantage as he tries to turn around the automaker — a stockpile of cash to develop new cars and trucks.
Big banks are roaring back. At crisis' edge last year, they are repaying billions of dollars dumped into their vaults to rescue them. Dividend checks are accumulating at the Treasury. Taxpayers won't recoup the full sum of the government's unprecedented infusion to the financial sector, but the returns are ahead of schedule.
The coroner’s report left no doubt as to the cause of death: toxic loans. That was the conclusion of a financial autopsy that federal officials performed on Haven Trust Bank, a small bank in Duluth, Ga., that collapsed last December, the New York Times reported.
A certain segment of the hedge fund industry is in the midst of evolving. The evolution of these hedge funds is apparent in their shift from focusing on short-term gains to long-term maximization of value.
For all its financial troubles and shortcomings as an automaker, no aspect of G.M. has confounded its critics as much as its hidebound, command-and-control corporate culture. The New York Times looks at the carmaker's effort to change.
General Motors is already feeling the backlash of its decision not to sell European automaker Opel to Magna International, as workers in Germany went on strike. GM faces not just ire over American-European cultural differences, but worker unease at job security, European-style.
JPMorgan Chase has agreed to a settlement worth more than $700 million over federal regulators' charges that it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.
Lehman Brothers' bankruptcy protection filing is the largest in history, dwarfing all others. Take a look at the ten biggest corporate filings in US bankruptcy court.
Toys 'R Us isn't the only toy store taking advantage of the void that KB Toys' bankruptcy left at shopping centers and malls.
Stocks struggled Tuesday as energy stocks rose along with oil prices. But consumer-discretionary stocks dragged on the market after a disappointing consumer-confidence report.
Lenny Dykstra's bankruptcy case has been converted from a Chapter 11 reorganization to a Chapter 7 liquidation. Judge Geraldine Mund said bluntly, "Right now it looks like everything is under water."
Stocks pulled back Tuesday after a report showed consumer confidence declined in October.
Stocks opened slightly higher Tuesday after encouraging reports on housing and earnings and as the dollar retreated.
Futures indicated a mixed open for Wall Street on Tuesday, with the tech-heavy Nasdaq due to begin the day in negative territory while the Dow Industrial Average and the S&P 500 index are expected to open higher.