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Ugly end to brutal month for banks
January 30, 2009 at 4:24 pm

Bank stocks took a nosedive Friday, as investors worried about dour economic data and questions about how soon aid for the financial sector will arrive.

Gold jumps as economy falters
January 30, 2009 at 2:52 pm

The price of gold continued to climb Friday after a bout of grim economic news increased the precious metal's safe-haven appeal.

Oil up on labor contract concerns
January 30, 2009 at 2:52 pm

Oil prices rose Friday as the possibility of an oil workers' strike in the United States weighed on investors.

Stocks slump on recession woes
January 30, 2009 at 1:52 pm

Stocks slipped Friday afternoon as investors mulled abysmal reports on economic growth and quarterly earnings.

Bond prices rally as GDP slows
January 30, 2009 at 11:01 am

Treasury prices hovered in a tight range Friday after a report showed the nation's economy shrunk in the fourth quarter and economists debated how to rescue the banking system.

Businesses find lending alternatives
January 30, 2009 at 10:41 am

Businesses largely moved out of a Federal Reserve lending program this week, signaling a shift in how companies are choosing to borrow money.

Wall Street set to drop on lower GDP
January 30, 2009 at 8:45 am

U.S. stocks were set to fall at the open on Friday after a report that the fourth quarter gross domestic product fell by an annual rate of 3.8%.

Dollar gains on euro inflation report
January 30, 2009 at 7:54 am

The dollar gained against the euro Friday after a European Union report showed euro-zone inflation fell to a near-10 year low and unemployment in the region rose to a two-year high.

Global shares under pressure
January 30, 2009 at 5:12 am

Read full story for latest details.

Bank bailout: More problems
January 30, 2009 at 4:19 am

The Obama administration is intent on fixing the banks. But doing so won't be simple or cheap.
 

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Daschle's tax records under fire
January 30, 2009 at 8:50 pm

The Senate Finance committee will meet Monday to review the tax records of former Sen. Tom Daschle, President Barack Obama's nominee for secretary of Health and Human Services who, according to sources, didn't pay taxes on a car and driver he had been loaned.

Three regional banks fail
January 30, 2009 at 7:09 pm

Three regional banks were closed Friday, bringing the total number of failed banks this month to six, as the financial crisis continues to take a toll on small banks nationwide.

California's cash crunch: IOUs coming
January 30, 2009 at 6:30 pm

The world's eighth largest county is on the verge of issuing IOUs.

AT&T chief gives up bonus
January 30, 2009 at 5:43 pm

Read full story for latest details.

Don't worry, be happy
January 30, 2009 at 5:34 pm

Every now and then my natural talent for the evasion of unpleasant duties fails me. So it was that recently I found myself in a hotel chair, to my right some guy with dandruff and a Bluetooth in his ear, to my left his clone, listening to an analyst who works for a failing financial institution grill a variety of senior officers about the state of their businesses in this pesky economy of ours.

For sale: Championship sports bling
January 30, 2009 at 4:55 pm

Whether Kurt Warner's Cardinals or Ben Roethlisberger's Steelers win the Super Bowl on Sunday is up for grabs. One thing is certain, however: The winners will get some serious bling. Per tradition, members of NFL and other professional and college championship teams get a big, diamond-encrusted ring commemorating their victory a few months after the big game. But in this dismal economy, will they keep it or sell it?

New York - the next housing bust?
January 30, 2009 at 4:45 pm

The Masters of the Universe have been dethroned. Now the question is just how much Wall Street's meltdown is going to hurt the city of New York and, by extension, its high-priced housing market.

Who needs a big raise? SEC staffers
January 30, 2009 at 4:37 pm

Here's a simple idea to prevent Wall Street meltdowns from happening again in the future, brought to you courtesy of the World Economic Forum in Davos: Start paying regulators much, much better.

Worst January ever for Dow, S&P 500
January 30, 2009 at 4:22 pm

The Dow Jones industrial average and Standard & Poor's 500 finished their worst January ever Friday as investors eyed abysmal reports on economic growth and quarterly earnings.

$4B shortfall - NYC may cut 23,000 jobs
January 30, 2009 at 4:05 pm

The Big Apple will have to tighten its belt as the city that leans heavily on Wall Street's profits is expected to suffer a dramatic decrease in tax revenues in coming years.

Davos divided on how to fix Wall Street
January 30, 2009 at 4:01 pm

One of the more repeated comments heard in the after hours chatter in the salons of Davos was that no one from the financial industry has actually apologized for the mess they've created in the global financial system.

Slim chance of a turnaround in 2009
January 30, 2009 at 4:00 pm

At first glance, the fourth-quarter GDP report released earlier today produced a moderate surprise in that it didn't show a contraction quite as deep as had generally been expected by most private economists. The so-called consensus forecast, based on various surveys, had been looking for a decline of around 5.5%. However, there is little overall reason to cheer simply because the economy contracted at a rate of "only" 3.8% last quarter (following a 0.5% decline in the third quarter), according to the Commerce Department's preliminary calculations.

Ugly end to brutal month for banks
January 30, 2009 at 3:57 pm

Bank stocks took a nosedive Friday, as investors worried about dour economic data and questions about how soon aid for the financial sector will arrive.

Stimulus: And now a Senate fight
January 30, 2009 at 3:11 pm

President Obama faces a tough week: In addition to possibly unveiling a new bank and housing bailout, the Senate will take up its version of the economic stimulus package.

Meredith Whitney to banks: Deal with it
January 30, 2009 at 2:58 pm

Banks are looking for a second chance to dump some toxic waste from their balance sheets on the hope that the Obama administration will set up a "bad bank" to buy massive amounts of their troubled assets.

Oil up on labor contract concerns
January 30, 2009 at 2:52 pm

Oil prices rose Friday as the possibility of an oil workers' strike in the United States weighed on investors.

Gold jumps as economy falters
January 30, 2009 at 2:50 pm

The price of gold continued to climb Friday after a bout of grim economic news increased the precious metal's safe-haven appeal.

Senator: Cap pay at $400K for Wall Street 'idiots'
January 30, 2009 at 2:37 pm

One day after President Barack Obama ripped Wall Street executives for their "shameful" decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.

Job cuts exceed 100,000 for the week
January 30, 2009 at 2:27 pm

In a brutal week for the job market, an assortment of companies across various industries announced more than 100,000 job cuts.

Citi Field or Bailout Ballpark?
January 30, 2009 at 12:49 pm

The government forced Citigroup to cancel its order for a brand new $50 million corporate jet. Now, two Congressmen are hoping that the Obama administration will convince the beleaguered bank to scrap its naming rights deal with the New York Mets.

Obama launches middle-class task force
January 30, 2009 at 12:35 pm

Facing new evidence of a darkening economic climate, President Barack Obama on Friday established a new middle-class task force to assess the status of average-income Americans and recommend new ways to strengthen the economy.

Your new and improved FICO score
January 30, 2009 at 12:29 pm

Fair Isaac - they're the company that develops the formula that determines your FICO credit score - is rolling out a new version FICO 08 with the credit bureau TransUnion.

Eli Lilly pleads guilty to 'off-label' drug marketing
January 30, 2009 at 12:13 pm

Pharmaceutical giant Eli Lilly and Company pleaded guilty Friday to a misdemeanor charge of marketing one of its medicines for uses not approved by the Food and Drug Administration, authorities said.

Double stunner from Amazon
January 30, 2009 at 11:56 am

Finally some good news, brought to you by Jeff Bezos and the gang at Amazon.com.

Double stunner from Amazon
January 30, 2009 at 11:54 am

Finally some good news, brought to you by Jeff Bezos and the gang at Amazon.com.

Indexed annuity: Buyer beware
January 30, 2009 at 11:34 am

Question: I'm 75 and I'm considering buying a fixed indexed annuity as a way to preserve my nest egg. Do you think this is a good idea? --William Frazier, Peachtree City, Georgia

Your credit questions answered
January 30, 2009 at 11:04 am

Gerri Willis answers e-mailed questions about money. You too can have her answer one of yours.

Can machines do your expenses?
January 30, 2009 at 10:38 am

As CEO of a fast-growing internet ad network, WidgetBucks, I travel a lot. And I'm no stranger to expense reporting, having previously run the corporate travel division of Expedia. I've long dreamed of a device that could generate my expense reports at the touch of a button.

Economy: Sharpest decline in 26 years
January 30, 2009 at 9:56 am

The U.S. economy suffered its biggest slowdown in 26 years in the last three months of 2008, according to the government's first reading about the fourth quarter released Friday.

Wall Street focuses on the positive
January 30, 2009 at 9:49 am

Stocks rose Friday morning as investors focused on the fact that a report showing the economy's biggest quarterly decline in 26 years was not even more dire, as had been expected.

Why Costco investors are smiling
January 30, 2009 at 9:42 am

The retail sector may be in a downward spiral, but the hundreds of investors who attended Costco's annual shareholders meeting in Bellevue, Wash., on Wednesday had other concerns. For example: How long was the line for free croissant sandwiches? And where were people getting slices of pecan pie?

Bond prices rally as GDP slows
January 30, 2009 at 9:32 am

Treasury prices rose Friday after a report showed the nation's economy shrunk in the fourth quarter and as economists continued to deliberate how to rescue the banking system.

GM's $35 billion albatross
January 30, 2009 at 9:29 am

General Motors has many woes, from weak sales and expensive labor contracts to a lineup of vehicles that includes more misses than hits.

Makeover your home - for 75% less
January 30, 2009 at 9:14 am

If you've never set foot in an architectural salvage shop, you're missing out on an amazing world of bargains for house repairs and upgrades. A cross between a home improvement center and an antique store, these cavernous warehouses sell used, or "pre-owned," house parts, from french doors and ornate mantelpieces to like-new commercial-grade appliances.

Exxon posts annual profit record
January 30, 2009 at 9:00 am

Exxon Mobil reported the largest annual profit in U.S. history Friday, making $45.22 billion on the back of record oil prices.

Honeywell: Results meet estimates
January 30, 2009 at 8:37 am

Read full story for latest details.

Roche launches hostile Genentech bid
January 30, 2009 at 8:15 am

Read full story for latest details.

Dollar gains on euro inflation report
January 30, 2009 at 7:53 am

The dollar gained against the euro Friday after a European Union report showed euro-zone inflation fell to a near-10 year low and unemployment in the region rose to a two-year high.

Seniors losing their lifelines
January 30, 2009 at 7:46 am

Every weekday, Eva Gomez walks down the block to the Fox Point Senior Center to eat her one hot daily meal, exercise and chat with friends. Otherwise, she's cooped up in her Providence, R.I., apartment with little more than crackers and a cup of coffee or tea.

Divorce - Bank of America style
January 30, 2009 at 7:23 am

On Sept. 15 last year, Bank of America CEO Ken Lewis triumphantly unveiled his $50 billion deal to buy Merrill Lynch, an American icon. Lewis, 61, had coveted Merrill for years, and he planned nothing less than a cultural revolution. The steady, watch-the- nickels branch banker from Charlotte would impose commonsense discipline on the wounded bull, banishing the profligate practices he'd long reviled, especially inflated pay and the high-risk trading that had landed Merrill in so much trouble.

Japanese chip makers in merger talk
January 30, 2009 at 7:01 am

Read full story for latest details.

Sales of liquor slow in 2008
January 30, 2009 at 6:33 am

Read full story for latest details.

It's cheaper to drill - but no rush for rigs
January 30, 2009 at 6:08 am

Read full story for latest details.

Global shares under pressure
January 30, 2009 at 5:12 am

Read full story for latest details.

Bank bailout: More money, more problems
January 30, 2009 at 3:47 am

The Obama administration is intent on fixing the banks. But doing so won't be simple or cheap.
 

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