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Now that the US consumer has finally hit the wall, there’s growing speculation that the Federal Reserve will push its interest-rate pedal to the floor.
AIG's former CEO said the company has “more than enough” assets to cover the $85 billion loan it received from the U.S. government, while inflation numbers took an unexpected turn for the worse and retail sales slumped again in September. Following are today's top videos:
The following is the full text of the Beige Book released by the Federal Reserve on October 15, 2008 and based on information collected on or before October 6, 2008:
Global credit markets continued to show signs of thawing, but worries about a world-wide recession loomed over markets.
Inflation took an unexpected turn for the worse, while retail sales slumped again in September, complicating the Fed's interest rate policy in the coming months.
Gilded nameplates aside, being CEO is still a job. Jobs come with responsibilities, and with the natural expectation that these responsibilities will be fulfilled.
Paul Krugman, Princeton University professor and winner of the 2008 Nobel Prize for Economics, told CNBC that the new rescue plan, which will inject $250 billion into U.S. banks, “looks much better.”
It's hell being a CEO or CFO these days. Well, try blogging. No sooner do I write something than it becomes outdated. So I'm going to blog about last week in hopes that history doesn't rewrite itself overnight.
With legendary investor Jim Rogers warning that repeated liquidity injections are setting the stage for a massive inflation holocaust, it’s worth asking if deflation may be as great a threat of the global financial crisis.
The U.S. government has to come up with more broad-based solutions to the financial crisis, following the example of the UK which pledged to part-nationalize financial institutions to defend its banking sector, billionaire investor Wilbur Ross, WL Ross & Co. CEO, told CNBC on Friday.
Like a married man being interrogated by his wife about an alleged extramarital affair, Lehman Brothers CEO Dick Fuld sat in front of the House Committee on Oversight and Government Reform on Monday for nearly two hours.
If you lose your job or you leave your job (not something I'd recommend right now--this is a cling to your employer moment) and you've got some money in a 401(k) plan, should you roll it over into an IRA? The conventional wisdom says yes.
Below are the minutes released by the Federal Open Market Committee after its Sept. 16 meeting on interest rate policy:
Cries for a rate cuts from central banks across the world are growing, but the arguments against such a move aren't going away.
A study presented to the House Steering Committee on Telehealth and Healthcare Informatics earlier this year cited that the country's health care system will require 40,000 additional health IT professionals (close to 40 percent) as the nation moves toward wider IT adoption.
Governments around the world tried to contain the fast-spreading credit crisis, but stock, bond and commodity markets saw investors bet on a sharp downturn.
Franklin, Ind., an industrial-based town south of Indianapolis is starting to feel the effects of Wall Street’s pain, said Fred Paris, the town’s mayor on CNBC’s “Squawk on the Street.”
A growing number of economists believe the country is on the brink of—or already in—its first recession since 2001 and that it will be longer lasting.
The worsening credit crisis is creating even more worry about the labor market outlook and there was little consolation in the jobs report Friday. All signs are pointing to further deterioration in the months ahead. The big question is how bad it will get and how quickly.
Stocks declined Wednesday as disappointing economic data added to the weight on investors shoulders over the strained credit market and haggling on Capitol Hill.