Stocks worldwide plunged as concerns about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.
Shock waves from the relatively small Greek economy reverberated around the world, as investors worried about the chances of other European governments facing a similar debt crisis.
U.S. nonfarm payrolls likely grew for a second month in April as the government's census hiring picked up and private employment rose modestly, signs a gradual labor market recovery is building.
Nonfarm payrolls likely grew for a second month in April as the government's census hiring picked up and private employment rose modestly, signs a gradual labor market recovery is building.
We have been informed by sources in the US Army Corps of Engineers, Federal Emergency Management Agency (FEMA), and Florida Department of Environmental Protection that the Obama White House and British Petroleum (BP), which pumped $71,000 into Barack Obama's 2008 presidential campaign -- more than John McCain or Hillary Clinton, are covering up the magnitude of the volcanic-level oil disaster in the Gulf of Mexico and working together to limit BP's liability for damage caused by what can be call...
The U.S. Senate made progress on a financial regulation reform bill on Wednesday, approving two amendments aimed at preventing a repeat of the massive taxpayer bailouts of Wall Street in 2008.
The Senate was expected to vote by Wednesday afternoon on a new orderly liquidation system for dismantling distressed financial firms that will exclude a proposed $50 billion fund to help pay for it, according to the Senate's chief author of Wall Street reform.
The oil spill in the Gulf of Mexico from a collapsed offshore drilling rig could affect White House plans to extend offshore drilling, press secretary Robert Gibbs acknowledged as the oil slick threatened onshore sites from the Louisiana wetlands to the Sarasota beaches and disrupted fishing and energy industries.
Big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, U.S. Treasury Secretary Timothy Geithner told lawmakers on Tuesday as he sought support for the proposal.
Treasury Secretary Timothy Geithner on Tuesday urged lawmakers to support a proposal to charge big banks a fee to pay for bailouts and said it will make them less likely to engage in reckless lending.
A flotilla of nearly 200 boats tackled a massive oil slick in the Gulf of Mexico on Tuesday, taking advantage of calmer weather to intensify the fight to reduce the spill and limit its impact on the U.S. shoreline.
The U.S. Senate will cast its first votes on Tuesday on a sweeping Wall Street reform bill, with passage of a handful of uncontroversial amendments expected and a key procedural question still unsettled.
BP Plc struggled to stop oil gushing unchecked from a ruptured undersea well in the Gulf of Mexico on Tuesday and calmer weather raised hopes of reducing the massive oil slick and limiting its impact on the U.S. shoreline.
Massive oil spill on the other side of the mainland prompted actor governor Arnold Schwarzenegger of US state California to withdrew his support of a plan to expand oil drilling off the state's coast. The governor had earlier proposed expanding oil drilling off the coast of Santa Barbara County to help close the state's $20 billion budget deficit.
Oil giant BP Plc's shares sank further on Monday as the oil spill in the Gulf of Mexico continued to grow and the U.S. Justice Department said it was taking part in an investigation of the disaster.
European nations aim to formally launch the biggest ever financial bailout of a country this week, hoping to calm markets wary that Greece's rescue may be the first of several, expensive measures to shore up other economies.
(Corrects fall in euro to more than 12 pct from 14 pct in paragraph 12)
European finance ministers triggered a record 110 billion euro ($147 billion) bailout for debt-stricken Greece on Sunday after Athens committed itself to years of painful austerity.
The U.S. economy expanded at a 3.2 percent annual rate in the first quarter as consumers increased spending at the fastest pace in three years, the strongest sign yet a sustainable recovery may be taking hold.
Massey Energy Co is under criminal investigation by the FBI after the deadly mine explosion in West Virginia, U.S. officials familiar with the matter said on Friday, news that sent the company's stock plummeting.
The U.S. economy expanded at a 3.2 percent annual rate in the first quarter as consumers increased spending at the fastest pace in three years, the strongest sign yet a sustainable recovery may be taking hold.
The massive oil spill in the Gulf of Mexico, leaking from a ruptured well moved closer to the mouth of the Mississippi River. Analysts said the oil spill that threatened to eclipse even the Exxon Valdez disaster spread out of control with a faint sheen washing ashore along the Gulf Coast.
