Interest rate swaps - sold as a way to save money on public financing - have turned into municipal bombs.
The head of the National Urban League outlines a plan to close the economic divide that's crippling U.S. cities.
General Motors Chief Executive Dan Akerson could step down as early as next year, according to people close to the matter.
The U.S. government has booked a loss of $9.7 billion on the nearly $50 billion bailout of U.S. automaker General Motors, according to a Congressional report.
Tea party candidates in the 2014 congressional elections will try to unseat Republican incumbents they say aren't conservative enough.
Former Detroit Mayor Kwame Kilpatrick was sentenced to 28 years in jail for corruption and fraud that added to the Motor City's fiscal woes.
Mazda is recalling 161,400 Mazda6 sedans in the United States because loose screws could cause the side doors to come open.
The Obama administration proposed a $300 million aid package to help Detroit demolish buildings, improvement transportation and bolster the police.
Eiji Toyoda, who as a member of Toyota Motor’s founding family and an architect of its method that helped turned the automaker into a global powerhouse, died on Tuesday.
Some of Microsoft's top investors have urged the technology giant's board to consider Ford Motor's CEO and Computer Sciences CEO as Ballmer successor.
There were fewer U.S. foreclosures in July than a year ago, while properties in the foreclosure pipeline also fell, according to CoreLogic data.
The housing recovery is starting to heat up so much, the "b" word—bubble—is starting to pop up in some markets. So, where are the next hot spots?
Zombies ... they're everywhere! Well, now they're not just eating your brains and making you run for you're life, they're also teaching math and helping you find a job.
Hard-hit areas are seeing a strong comeback in their housing markets—some people are even starting to utter the "B" word—bubble. Here are the Top 10 Turnaround Towns for 2013.
If the bankruptcy court allows Detroit to cut pensions, other cities and states may also try to take that route, an investment manager to pension plans warns.
U.S. generic drugmaker Perrigo agreed to buy fellow drug company Elan for $8.6 billion on Monday in a deal that will hand it royalty rights from a blockbuster treatment and tax savings from being domiciled in Ireland.
Detroit must dig itself out of the hole it created and cannot wait to see if the federal government will come to its rescue, the city's emergency manager said on Sunday.
A ruling in state court raised questions about whether Detroit's bankruptcy will stand up to court review.
As Detroit faces the largest municipal bankruptcy in American history, Mayor David Bing on Friday said it's unlikely Washington will come to the rescue with a bailout.
A major city has now joined the "gone broke" list. Click ahead for some of the most notable examples of bankruptcies that hit U.S. towns and counties.