Target cuts annual profit outlook as the discounter continues to reel from breach Global cruise lines set sail for China in pursuit of booming leisure market Social media struggles with images of journalists' slaying; Twitter suspends some accounts China fines 12 Japanese auto parts suppliers $202 million in spreading anti-monopoly probe Lowe's 2nd- quarter profit climbs on improving weather; trims full-year revenue outlook Global stocks drift, with European markets turning lower, as traders wait for US Fed signals US home construction jumps 15.7 percent in July to 1.09 million rate, fastest pace in 8 months Bank of England board divided for the first time since 2011 on whether to raise interest rates Peanut, almond butter from Hain Celestial unit recalled due to salmonella risk Private company pays $8 million in back wages, benefits to staff at California-based prison» Read More
I won’t deny today’s existing home sales numbers from the National Association of Realtors were a bright spot in an otherwise, dare I say, ridiculous economy, but I also won’t deny the fact that these numbers are likely unsustainable.
For a sixth week, the total amount of commercial paper outstanding plunged, falling $61.5 billion to $1.449 trillion in the week ended Wednesday. Three weeks ago, the commercial paper market contracted a record $94.9 billion. Cumulative declines for the six weeks total about $365 billion.
So I was going to write more today about foreclosures, given that we’ve got more numbers showing just how much worse things are getting, but then I got an email that I just had to share, well, a string of emails.
Lawmakers have called key players from the past and present to congressional hearings in an effort to find out what caused the biggest financial crisis since the 1930s and determine how the government plans to get the nation out of the mess.
I've spent much of my week at conferences. First at the Mortgage Bankers Association and today at the National Association of Home Builders Construction Forecast Conference. I'm struck with the similarities: first that attendance appears to be pretty low at both.
The big debate now is how deep and how long the recession will be. The short answer is bad enough and probably the worst in 25 years.
The cruel earnings season for the American worker intensified Wednesday as more companies announced layoffs.
The US economy is entering a two-year recession that will be longer and deeper than previously feared, said Nouriel Roubini, a well-known economist and professor at New York University.
Watch the exclusive video to see what Carmen has to say.
Democrats in Congress say any new economic stimulus bill would probably include road and bridge construction, help for state budgets and maybe new tax rebates.
The Fed could lend up to $540 billion in a new facility aimed at restoring liquidity for money market funds, Fed officials said.
Economists say the best bang for the buck will come from helping housing, not another tax cut or extended unemployment benefits.
New York Governor David Patterson and New Jersey Governor Jon Corzine sounded off on the economy, Wall Street and regulation on Monday.
A slight thaw in the credit freeze could warm up some cautious buying in battered stocks in the week ahead.
Yesterday, on TV, I did a few stories about how the big government bailout (TARP) is having some unfortunate and unintended consequences on troubled borrowers.
We've all been searching for road maps from the past to help guide us through these current, scary market conditions.
The stock market is on its own wild ride these days, but if investors were to step off the roller coaster for a minute, they might see signs of life in the credit markets.
It’s not exactly a shocker, but the nation’s home builders are in dire need of Xanax. The confidence index for October came out today, and it’s hit another record low.
Investors continued to be rattled by worries that the prolonged credit crisis has already pushed the global economy into a recession.
The latest inflation and jobs data were somewhat better than expected, but the industrial sector showed continued weakness.