WILMINGTON, Del.— A federal judge in Delaware approved $20 million in new bankruptcy financing Wednesday for Trump Entertainment Resorts from billionaire investor Carl Icahn as the company continues to work to keep the struggling Taj Mahal casino in Atlantic City, New Jersey, open. Bankruptcy Judge Kevin Gross approved the debtor-in-possession financing...» Read More
Stocks got a quick pop Wednesday after a report showed existing-home sales rose in April but quickly retreated as the previous day's optimism faded and GM stirred anxiety in the market. But tech stocks gained, sending the Nasdaq into positive territory.
Futures pared earlier gains Wednesday to indicate a mixed open for Wall Street as optimism from the previous day's consumer confidence data dwindled and was replaced by anxiety about what looks like certain bankruptcy for General Motors.
Stocks barreled higher Tuesday as consumer confidence hit its highest level in eight months and a broker upgrade on Apple buoyed the Nasdaq.
This is the day current and retired UAW members at General Motors have been fearing. In stark terms union members are finding out just how much their benefits, their jobs, and what they've come to expect will be changing as GM restructures either in or out of bankruptcy.
Stocks recovered from a lower start Tuesday as consumer confidence hit its highest level in eight months and a broker upgrade on Apple buoyed the Nasdaq.
Stocks bounced back from a lower open Tuesday as a broker upgrade on Apple buoyed the Nasdaq. Getting the market off to a jittery start after the three-day weekend, the decline in housing prices showed no signs of letting up and there were reports of another missile launch by North Korea.
This week GM and Chrysler will transform the auto industry by skidding into and through bankruptcy. If they can avoid a major car wreck, perhaps Uncle Sam's "controlled bankruptcy" plan will work.
After a long Memorial Day weekend, futures indicated a negative open for Wall Street Tuesday as reports that North Korea launched missiles caused alarm.
General Motors is engaged in negotiating a reorganization that could increase vehicle imports from its plants in Mexico and Asia while closing factories and cutting the work force in the United States.
Stocks flopped Friday, capping a dismal week, as bank stocks pulled back after recent gains.
Stocks opened flat Friday as investors were encouraged by a pair of better-than-expected manufacturing readings but dismal economic data out of Europe and weak U.S. retail reports capped gains.
Futures pared losses Friday after a pair of better-than-expected manufacturing readings.
The government has taken advantage of the economic crisis to get a tighter grip on the US economy, and this does not bode well for business, Jack Welch, former GE CEO and author of "Straight from the Gut," told CNBC Friday.
A bankruptcy judge on Tuesday ruled that GMAC Financial Services can become Chrysler's preferred lender, potentially sending a slew of new business to the financing company and ensuring that Chrysler's dealers will have access to the loans they need to stay in business.
Not so! Here are the debts you will still be required to pay even if you file for bankruptcy.
For months we've all heard the warnings. If GM and Chrysler go bankrupt it will trigger a host of other bankruptcies from suppliers to dealers.
The group of dissident Chrysler bond holders challenging Chrysler's government-backed restructuring plans, said Friday that it is dropping its court fight.
Published reports that Cerberus Capital Management is leading the charge for more governments funds to bail out GMAC are completely wrong, a source tells CNBC.
As the bankruptcy hearings about creating a new Chrysler pick up steam in New York, it's becoming crystal clear how quickly the Federal Government wants to re-structure the ailing auto maker.
It’s a whole new world out there when it comes to buying a car. But there are still certain things you shouldn’t do before you drive off the lot.