Sales of previously owned U.S. homes tumbled to a record low in January, reversing the prior month's gains, according to a report on Tuesday that indicated the economy's downward spiral was gathering speed.
British Prime Minister Gordon Brown will press President Barack Obama for details on his plans to fix the ailing U.S. financial sector in talks on Tuesday that will focus on the global economic crisis.
Stocks rose on Tuesday as investors snapped shares in beaten-down sectors including financials, materials and healthcare a day after the market hit lows not seen since 1997.
President Barack Obama on Wednesday will order a crackdown on waste and cost overruns in U.S. government procurement that he estimates will save up to $40 billion a year, an administration official said.
U.S. President Barack Obama expressed confidence on Tuesday his economic reforms would work as senior officials began lobbying Congress to support the administration's jaw-dropping budget proposal.
Citigroup Inc said on Tuesday it will allow some newly unemployed homeowners to temporarily reduce payments on their mortgages.
Citigroup Inc said on Tuesday it will allow some newly unemployed homeowners to temporarily reduce payments on their mortgages.
Offshore tax havens used by rich Americans in Switzerland, the Cayman Islands and other nations are targeted for shutdown by bills offered on Monday by Democrats in both chambers of the Congress.
The Obama administration is not interested in escalating a dispute with Switzerland over bank secrecy laws, Switzerland's top justice official said on Monday after meeting with her U.S. counterparts.
President Baraka Obama announced changes to the healthcare system on Monday, appointing two key officials, including a new Health and Human Services secretary.
U.S. stocks slid to 12-year lows on Monday as a record $61.7 billion loss for AIG and another government bailout for the insurer heightened concerns about the extent of the damage to the financial system.
U.S. stocks slid to 12-year lows on Monday as a record $61.7 billion loss for AIG and another government bailout for the insurer heightened concerns about the extent of the damage to the financial system.
Freddie Mac on Monday said Chief Executive Officer David Moffett is quitting just six months after being named to the post as the government forced the No. 2 mortgage finance company into conservatorship.
President Barack Obama's targets for cutting the budget deficit remain in reach, a top aide said on Sunday, despite an alarmingly steep U.S. economic decline that could throw off revenue collections.
America's largest automaker has been left dependent on the kindness of strangers -- its fate in the hands of bureaucrats as much as car buyers.
British banking giant HSBC will try to raise $18 billion to quell investor concerns as a worsening global economy punished famed investor Warren Buffet's Berkshire Hathaway with a 96 percent plunge in profits.
British banking giant HSBC will try to raise $18 billion to quell investor concerns as a worsening global economy punished famed investor Warren Buffet's Berkshire Hathaway with a 96 percent plunge in profits.
Investors burned by the recent boom and bust in the U.S. ethanol industry will be wary of pouring money into plants for the next generation of biofuels without more stable returns, a J.P. Morgan analyst said on Friday.
President Barack Obama's 2010 budget plan includes $18.7 billion for NASA, an increase of $1 billion over last year, but will retire the nations respected space shuttle program.
President Barack Obama will not store nuclear waste at Yucca Mountain in Nevada, even after two decades of planning.
Vice President Joe Biden, along with several Department Secretaries in the Obama Administration gave their firm support today to President Obama’s strategy for creating green jobs to bolster the U.S. economy as part of the recently passed economic stimulus package.
U.S. stocks fell and the S&P 500 marked its worst-ever start to a year on Friday, after the government said it will take a large stake in Citigroup's common shares, fanning fears it will increase its role in other major banks.
