The latest overall job loss numbers showed a loss of 663,000 jobs in March and the unemployment rate climbed to 8.5%. This is the highest unemployment rate since 1983. The January numbers were revised to a loss of 741,000 but the February numbers were kept as previously reported. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
Calling it "general theft," Sen. John McCain blasted the Obama administration's budget proposal on CNBC Thursday.
In a new threat to Detroit, China is investing heavily in hybrid and electric-vehicle technology.
We are confident that the overwhelming pessimism will pass and that the economy and that markets will recover, writes Michael Farr.
US stocks looked set to continue their positive start to the quarter and jump higher at the open Thursday, as investors will look for reassurance from global leaders at the G20 summit in London.
It looks like bankruptcy might really be in the cards for General Motors, after all.
Stocks closed higher as some mildly optimistic economic news helped Wall Street begin the second quarter on a positive note.
March sales fell sharply for General Motors, Ford Motor and Chrysler, but not as much as industry analysts had feared for any of the companies. Sales of Japanese automobiles also fell, though less steeply than they did for U.S. automakers.
Lots of cross-currents today. The bad news is the ADP report was very poor, implying that nonfarm payrolls on Friday will be weaker than expected. But there is good news as well, as the ISM report, as well as GM and Ford's February sales reports were, as they say, "less bad."
Auto industry legends weigh in on President Obama’s push for the right solution.
Wednesday: Pending sales of existing U.S. homes inched upward but home values keep slipping. Job losses in the U.S. private sector accelerated more than expected in March but planned layoffs are down. Pres. Obama urged unified action at the G20 meeting. Four regional banks were the first to pay back TARP funds. CNBC heard from experts who said the market will make a major move around Easter — and went overweight in stock portfolio allocation.
Automakers were set to release their March U.S. vehicles sales on Tuesday amid continued uncertainty about the future of U.S.-based car makers.
Did anyone notice how grumpy all the financial CEOs looked after meeting with President Obama last Friday? The meeting must have been quite unpleasant as the Obama administration is informing these private sector giants that they need to change the way they are running their business.
Late evening reports that President Obama has concluded bankruptcy for GM is the most likely course of action (apparently leaked by Congressional members) was no surprise to most traders in GM and analysts, who had come to that conclusion on Monday.
US stock index futures pointed to a lower open for Wall Street after economic news showed steepening pressure in the jobs market.
The president's position on GM has not changed since Monday, a senior administration official said when asked to comment on a Bloomberg report which said Obama had determined a prepackaged bankruptcy was the best way for GM to restructure.
Eric writes, “Jeff, in the past you have liked Toyota. Are you even more bullish on them now given the latest GM news?
Following are the day’s biggest winners and losers. Find out why shares of Amylin and BHP Billiton popped while General Motors and Advanced Micro Devices dropped.
Stocks closed out a tough quarter on a positive note, helped by gains in technology and big banks.
Here's a transcript of my interview with Sen. Bob Corker (R-Tenn) concerning Team Obama’s ousting of GM CEO Rick Wagoner. Mr. Corker is a key member of the Senate Banking Committee and assumed the lead role for Republicans during negotiations to aid the ailing U.S. auto industry back in December...