Denise Blackerby is hitting the road again. When retail gas prices scaled historic peaks above $4 a gallon last year, she found she could no longer make monthly trips from the Dallas area to Houston in her Ford Explorer SUV to visit her family.
U.S. employers axed 651,000 jobs in February, pushing the unemployment rate to its highest in 25 years, as companies buckled under the strain of a recession that is showing no signs of ending, according to a government report.
Asia stocks slid on Friday after a warning from General Motors' that it may need to file for bankruptcy drove Wall Street shares to 12-year lows and highlighted the severe troubles of major U.S. companies and banks.
U.S. business productivity fell in the fourth quarter as output plunged at its fastest pace since 1982, while one in eight U.S. households ended 2008 behind on its mortgage or in foreclosure, according to data on Thursday that underscored the economy's weakness.
Oil fell more than a dollar to below $44 on Thursday as a record drop in euro zone economic performance heightened expectations that fuel consumption would shrink further.
The euro and European shares slipped on Thursday ahead of expected interest rate cuts by the euro zone and British central banks, while Asian shares dipped on disappointment China did not announce new stimulus plans.
General Electric Co's shares fell more than 15 percent on Wednesday, trading below $6 for the first time since 1991, as investors' anxiety about its hefty GE Capital arm continued to swirl.
General Electric Co's shares fell more than 15 percent on Wednesday, trading below $6 for the first time since 1991, as investors' anxiety about its hefty GE Capital arm continued to swirl.
General Electric Co's shares fell more than 15 percent on Wednesday, trading below $6 for the first time since 1991, as investors' anxiety about its hefty GE Capital arm continued to swirl.
U.S. auto sales dropped by more than 41 percent in February to the lowest level in almost three decades as deepening economic uncertainty drove Americans away from big purchases and new debt despite aggressive discounts from major automakers.
Oil hovered above $40 a barrel on Tuesday, after slumping 10 percent overnight as the deepening global recession threatened to crimp energy demand further, outweighing OPEC's strong compliance with supply curbs.
HSBC launched a 12.5 billion pound ($17.75 billion) rights issue on Monday to shore up its balance sheet after annual profit fell and as bad debts soared in the United States.
New U.S. orders for long-lasting manufactured goods fell for a sixth consecutive month to a six-year low in January, a government report showed on Thursday, as a global slump crimped exports and domestic spending faltered.
The decline in durable goods orders and its major components was much more than expected.
The Commerce Department said durable goods orders dropped 5.2 percent to $163.8 billion...
Stocks fell on Wednesday as investors were hit by a report showing yet more deterioration in the housing market, while uncertainty about Washington's plans to shore up the banking system persisted.
President Barack Obama's first address to Congress offered few new insights on government plans to stabilize the economy and shore up banks.
Investors sold off shares of financial services companies a...
Stocks fell on Wednesday as President Barack Obama's first address to Congress shed little new light on how he plans to stabilize the economy and shore up banks, and gloomy home sales data fed the negative sentiment.
Obama said in his speech on Tuesday night the United States would emerge stronger from the ongoing crisis, but investors found little in what he said to spur buying after the market...
The pace of sales of existing home in the United States fell 5.3 percent in January to a 4.49 million-unit annual rate, while home prices dropped to a six-year low and inventories shrank, the National Association of Realtors said on Wednesday.
Economists polled by Reuters were expecting home resales to rise to a 4.79 million-unit pace from the 4.74 million rate for December.
The inventory of exi...
Stocks added to losses on Wednesday after data showed the pace of existing home sales unexpectedly fell in January, while bank shares slid on continuing worries over the fate of the sector.
The tone was set early by disappointment President Barack Obama shed little new light about how his administration would stabilize the economy in a major speech before Congress.
The Dow Jones industrial avera...
U.S. home prices plunged at a record pace in December, data showed on Tuesday, while consumer confidence also hit a record low in February as Americans feared an already deep recession was likely to get even worse.
Prices of U.S. single-family homes fell 18.5 percent in December from a year earlier, with the pace of decline speeding up, according to the S&P/Case Shiller home price index.
Tha...
Top Mexican broadcaster Televisa is seen posting an 11 percent fall in net profit during the fourth quarter of 2008, hit by higher tax reserves and a steep fall in the value of the peso currency.
Stocks trimmed gains shortly after the open on Monday as declines in technology shares offset a bounce in financials on reports that Washington could end up with a big stake in Citigroup common stock.
Citigroup Inc is in talks to give the U.S. government a larger stake, a person familiar with the matter said, while The Wall Street Journal said Washington may end up holding as much as ...
Oil prices fell on Friday as the deteriorating global economic outlook continued to weigh on the market.
U.S. crude futures for March delivery, which expired on Friday, settled at $38.94 a barrel, down 54 cents, after posting the biggest settlement gain since December 31 in the previous session.
April Brent crude settled at $41.89 a barrel, down 10 cents.
Right now, oil is being driven by the...
Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.
