Congress's investigation of a deadly defect in some GM cars widened, and a House committee ordered the automaker and a federal regulator to provide details on steps they took to get unsafe cars off the road.» Read More
Rick Wagoner meet Charlie Brown. GM's Chairman and CEO now knows how the cartoon character felt getting a box of rocks for Halloween. It looks like Washington/Bush Administration is saying "no thanks" to providing the money needed to make a GM/Chrysler merger happen
As we move closer to seeing the Treasury Department approving $5-10 billion in federal loans to back a merger of GM and Chrysler, I've been hit with a wave of comments from readers, viewers, and others that basically amounts to this: We should let GM go bankrupt because they aren't worth saving.
The sharp decline in gasoline use earlier this year — with volume down nearly 10 percent in some weeks — suggested to many people, including the automobile companies, that a permanent change in American habits might be at hand. But with gasoline prices falling drastically in recent weeks, some American drivers are returning to their old ways, says the New York Times.
As the Federal Reserve slashed a key interest rate by 50 basis points on Wednesday, Pimco's Bill Gross said he expects rates to hold or decline to 1 percent.
Wall Street went on a bargain-hunting bonanza, with a frenzy of activity in the final hour of trading, sending shares up 10 percent.
Investors went on a late-day buying spree, scooping up shares of beaten down stocks and sending the major indexes soaring 7-8 percent.
Volatility reigned again on Wall Street Tuesday as jittery investors had a hard time committing to the morning's early rally -- or to the subsequent paring of gains.
Stocks opened higher Tuesday after Monday's late selloff as international markets bounced back amid expectations of a U.S. rate cut.
Stock index futures pointed to a substantial gain at the open Tuesday, following Monday's late selloff, as international markets rebounded and investors pondered the effect of an upcoming expected interest-rate cut.
The weekend was extremely busy in the world of finance. Starting in South Korea, this nation cut its overnight interest rates by 75 basis points to 4.25%. Genuflecting at the altar of low rates/high liquidity, the Bank of Korea cut rates for the 2nd time this month and by the most ever in one move as the country is experiencing drastically lower growth (0.6% GDP) and a shut off of lending to smaller firms.
This week is not only the last one of the month. It's also the week that could determine if GM holds on to the top spot in monthly auto sales in the U.S.
Whether it's the Wall Street Journal speculating about Cerberus Capital pushing for "fresh air" in the management at GM, or the steady flow of e-mails I get from people saying "Wagoner must go!", there is no shortage of people suggesting GM's leadership needs to change.
This morning GM and Chrysler announced a fresh round of job cuts due to the stunning drop in business and their balance sheets.
While you're lamenting the 40% drop in your 401k you might take comfort to know plenty of Wall Street's biggest whales have made lousy bets, too.
Despite the threat of a slowdown, at least one major investor appears bullish on casinos and hotels.
Stocks sold off in the final hour of trading, an hour that has become known for wild, unpredictable swings, as a new government plan to juice money-market funds and some dismal corporate outlooks kept investors on edge.
The Mad Money host offers his theory on why the billionaire is dumping Ford (and it isn't just because the automaker's doing so poorly).
Stocks retreated after a fleeting uptick as investors digested a slew of earnings and some dismal outlooks and signs of a thawing in the credit markets.
Billionaire investor Kirk Kerkorian says his investment firm has sold 7.3 million of its shares in Ford Motor, reducing his stake in the automaker to just over 6 percent.
Stocks turned lower again after paring most of their losses amid more signs of thawing in the seized up credit markets.