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Asia looks to turn latest crisis into opportunity

In 1997/98, Asia fell into the economic abyss because of a dependence on inflows of foreign capital, which suddenly turned tail.

Obama drops 'car czar' idea

President Barack Obama has decided to launch a government task force for restructuring the struggling U.S. auto industry instead of naming a car czar with sweeping powers, a senior administration official said on Sunday.

Obama drops car czar idea

CHICAGO - President Barack Obama has decided to form a government task force to oversee the restructuring of the struggling U.S. auto industry instead of naming a car czar with sweeping powers, a senior administration official said on Sunday. Obama is appointing Treasury Secretary Timothy Geithner as his designee for overseeing auto bailout loans and as co-head of the new high-level pane...

Chavez wins re-election chance in economy's shadow

Venezuela's President Hugo Chavez promised to use a referendum victory that allows his re-election to fight crime and corruption and consolidate socialism in a nation whose oil income has fallen abruptly.

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Sweet tooth in hard times keeps chocolatiers going

Chocolatiers have been concerned about the impact the recession would have on their business but a sweet tooth, even in hard times, has kept them going.

Global lenders warn of risks to emerging markets

The International Monetary Fund and the world's big development banks warned on Friday that emerging and developing countries that lack deep pockets to protect themselves against the crushing impact of a global financial crisis may need help soon.

One big victory, a series of setbacks

Barack Obama won a big victory when Congress agreed to his economic stimulus plan, but the new U.S. president has also suffered a series of setbacks to his No-Drama Obama image in his first weeks in office.

Toymakers see low prices as hot items in 2009

With the hot toy of 2009 likely being anything that carries a modest price tag, the two biggest U.S. toy companies, Mattel Inc and Hasbro Inc, are reassessing their lineups.

Brazil stocks rise as investors set hopes on U.S. bank plan

On Friday Brazil's stocks rose as a rally in oil prices boosted commodity stocks, while the national currency also firmed as hopes for an imminent U.S. stimulus package raised investors' appetite for risk.

Beverly Eckert 9/11 commission testimony

Beverly Eckert, one of the victims aboard the Continental Express flight 3407 which crashed Thursday night, was also the widow of Sean Rooney who died in the September 11 attacks in 2001.

Obama: Beverly Eckert 'was an inspiration to me'

Beverly Eckert, who was among the 50 people killed when a commuter plane crashed outside Buffalo, N.Y. Eckert, was an inspiration to President Barack Obama.

Energy Dept. paving way for quick stimulus money expenditure

With the U.S. economic stimulus package of $790 billion is set to be approved by Congress, concerns are growing at the Energy Department on how the agency will manage the quick expenditure of about $40 billion included in the package for renewable energy projects meant to boost employment.

Sen. Gregg cites irresolvable conflicts in withdrawal

New Hampshire Republican Sen. Judd Gregg withdrew his name for consideration as President Barack Obama's nominee for Commerce of Secretary stating irresolvable conflicts related to the stimulus package and the Census.

Congress set to pass stimulus as Obama keeps up pressure

President Obama urged Congress to pass the economic stimulus package before the end of the holiday weekend so he could sign it into law in an effort to help the nation emerge from a recession.

Sec. Geithner in Rome will urge 'exceptional' action on finance

U.S Treasury Secretary Timothy Geithner will attend a gathering of finance ministers from seven industrialized nations in Rome tomorrow to urge fellow ministers to take exceptional measure to address challenges facing the financial sector.

Some banks may need more gov't aid to stay solvent: report

Economists and other finance experts say some U.S. banks are insolvent, adding that government may need to take a bigger role allow banks to resume the lending needed to improve the economy, according to a report from the New York Times.

Lawmakers push US stimulus plan

Spurred on by President Barack Obama, US lawmakers on Thursday prepared for final votes by week's end on an unprecedented 789-billion-dollar plan to help Americans through a painful economic crisis.

Oil execs see demand beyond crisis, seek investments

Prominent oil industry executives said that demand for energy in the long term will rise and urged investors to invest money into the industry.

Frank: Obama to end bailout abuses

Rep. Barney Frank, the head of the House Financial Services Committee, said Thursday the Obama administration is more trustworthy than the Bush administration to ensure that banks do not misuse money bank bailout funds.

Digital TV officially delayed

President Obama signed the DTV Delay Act into law Wednesday night, postponing the transition to digital TV until June 12 and putting wireless companies' plans to use their 700 MHZ spectrum assets on hold.

Viacom revenue falls 69 pct on weak ad sales

Viacom Inc.'s fourth-quarter profit fell 69%, hurt by weakness in advertising sales at MTV and other cable channels, and the company said ad revenues are likely to get worse in 2009 before they get better.

European stocks slide as doubt looms on U.S. bank plan

At the close of Thursday's trading, European shares closed at 1.5 percent lower with banks hit by doubts about the U.S. government plan to boost the financial system.

Mubai attacks planned in Pakistan

Pakistan publicly acknowledged for the first time Thursday that last year's attack on Mumbai was largely planned on its soil and that it had arrested most of the key plotters.

Intel 32-nm Technology gets $7 billion support

On Tuesday lntel revealed more details regarding its 32nm process technology that will allow the company to build high-performance and, from some point of view, revolutionary processors.

U.S. Reaches $789 Bln Economic Stimulus Deal, Grills Bankers

U.S. efforts to take action on slowing business activity, joblessness and reduced credit grew on Wednesday as U.S. lawmakers moved to pump tax dollars into the economy, reduce taxes going forward and grilled top U.S. bank executives amid widespread concern.

Fed Gears Up for $2 Trillion U.S. Debt Sale

As the U.S. prepares to sell more than $2 trillion in debt this year, the Federal Reserve Bank of New York is holding talks with several firms which would help underwrite government debt instruments for sale in auctions, according to a report.

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