On a snowy hillside in rural southwest Pennsylvania, Larry Grimm drives his truck up a steep gravel track to a hilltop reservoir surrounded by orange plastic fencing and keep out signs.
Even if the government takes a large common equity stake in Citigroup Inc, worries are likely to persist about the bank's ability to absorb soaring losses in a deepening recession.
Shares in Bank of America Corp and Citigroup Inc tumbled to new multi-year lows in premarket electronic trading on Friday on what analysts and investors said was growing fears the two longtime pillars of the U.S. financial sector could soon be nationalized.
U.S. stocks tumbled on Friday, depressing the Dow to levels last seen more than six years ago as investors worried a financial sector rescue might involve nationalization of major banks, wiping out shareholders.
The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose above $1,000 an ounce.
Shares of Bank of America tumbled mor...
U.S. stocks headed for a drop at Friday's opening that would extend a rout which has pulled the Dow Jones industrials to a fresh bear-market low, as worries about the fate of major banks escalated.
Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of U.S. government bonds as stoc...
U.S. consumer prices rose in January as energy costs rebounded, government data showed on Friday, temporarily easing fears of deflation amid a severe economic downturn.
The Labor Department said its closely watched Consumer Price Index rose 0.3 percent, advancing for the first time since July, after falling 0.8 percent in December. The increase was bang in line with market expectations.
U.S. sto...
U.S. stock index futures fell on Friday, putting Wall Street on track to extend a rout that has pulled the Dow Jones industrials to a fresh bear-market low as worries about the fate of major banks mount.
Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of government bonds, with s...
has not been well received.
S&P 500 futures rose 15.10 points, and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures climbed 117 points, and Nasdaq 100 futures gained 17.00 points.
According to Reuters data, the benchmark S&P 500 shows the br...
has not been well received.
S&P 500 futures rose 10.30 points, and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures climbed 67 points, and Nasdaq 100 futures gained 7.75 points.
But even with the bounce, there was caution ahead of a weekly report on jobless ...
The move was widely expected, coming days after the casino operator's namesake tycoon, Chairman and founder Donald Trump, walked away from the company.
The casino operator had assets of about $2.1 billion and total debts of about $1.74 billion on December 31, 2008, it said in its filing with the U.S. Bankruptcy Court for the District of New Jersey.
The company missed a $53.1 million bond intere...
- Trump Entertainment Resorts Inc, Donald Trump's casino group, filed for Chapter 11 bankruptcy protection on Tuesday, court documents show.
The casino operator had assets of about $2.1 billion and total debts of about $1.74 billion on December 31, 2008, it said in its filing with the U.S. Bankruptcy Court for the District of New Jersey.
Nine affiliates of the casino operator including Trump P...
A utility company in New Jersey with more than 2 million customers is asking approval for a $773 million project to implement a solar energy program to provide electricity to the communities and costumers it serves.
U.S. aviation officials released audio recordings on Thursday between the tower controllers and cockpit of US Airways Flight 1549, that commercial passenger jet which landed in the Hudson River last month.
Britney Spears will have two of her biggest fans with her on Circus tour -- her sons Sean Preston and Jayden James.
Basketball great Shaquille O'Neal, rock 'n' roller Jon Bon Jovi, comedian Jerry Lewis and civil rights activist Paul Robeson have been elected to the New Jersey Hall of Fame.
Britney Spears is threatening to cancel the start of her tour next month if she is not allowed to take her children on the road with her, according to TMZ.
Law & Order: SVU star Mariska Hargitay returned to the set on Monday for the first time since suffering a collapsed lung, an rep confirms to People.
Pharmaceuticals giant Pfizer Inc will acquire Wyeth in a $68 billion cash and stock deal -- the biggest U.S. merger in three years -- to create a diverse health products company which executives hope will deliver stable growth to investors, the companies said on Monday.
Mickey Rourke said, Change has been hard for me, despite the movie The Wrestler resurrected his career and earned him a Golden Globe award and an Oscar nomination for his portrayal of an aging, bad-boy wrestler.
A British court ruled on Friday that a man who hacked into US military computers will be giving permission for a judicial review against his extradition to the United States.
Gwen Stefani's former band, No Doubt, announced they will have a summer tour in May this year. Paramore will be their opening act.
According to the National Transportation Safety Board, US Airways jet that made a dramatic emergency landing on New York's Hudson River on January 15, experienced an engine compressor failure two days earlier.
