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Reuters - A report on Friday expected to show the biggest monthly U.S. jobs loss in 26 years is set to pile more pressure on the Federal Reserve to slash rates again and add urgency to an automaker bailout as the global economic crisis deepens.
AP - The United States and China pledged $20 billion to help finance trade amid a global credit crisis Friday as they wrapped up high-level talks marked by a pointed Chinese appeal to Washington to stabilize its economy.
Reuters - The United States has made clear progress in steadying its financial system, thanks in part to a $700 billion bailout fund authorized by Congress, but the rehabilitation process still faces many challenges, Treasury Secretary Henry Paulson said on Friday.
Reuters - The United States is not threatened by the fact that China and other countries are big investors in U.S. securities, U.S. Treasury Secretary Henry Paulson said on Friday.
Reuters - Social networking company Facebook is delaying a previously announced plan to let employees sell part of their stocks, due to difficult global economy, the Wall Street Journal said.
AP - Zeinab Chami planned to save money from her part-time job and get a little more from her family. But the 24-year-old graduate student ultimately couldn't round up enough to pay for a trip to Mecca.
AFP - US Treasury chief Henry Paulson said Friday the United States and China would make 20 billion dollars available in trade financing to boost commerce amid the global slowdown.
AP - The United States and China will provide $20 billion in loans to finance trade by developing countries amid a global crisis that has battered credit markets, U.S. Treasury Secretary Henry Paulson announced Friday as the two sides wrapped up high-level economic talks.
Reuters - China and the United States pledged on Friday to boost efforts to tackle the turmoil engulfing global markets and to continue high-level cooperation when President-elect Barack Obama takes office.
Reuters - The year-long U.S. recession has taken a turn for the worse recently, two top Federal Reserve policy-makers said on Thursday, raising expectations for aggressive policy action by the central bank as soon as next week.
AP - Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles.
AP - Federal Reserve Chairman Ben Bernanke pleaded Thursday for more government action to relieve the foreclosure crisis and break a vicious cycle in which the housing meltdown is plunging the country deeper into recession.
Reuters - The number of U.S. workers collecting jobless benefits hit a 26-year high last month, data showed on Thursday, and it may head higher as a deepening economic slump forces a broad spectrum of firms to cut jobs.
AFP - Major US companies like AT&T and DuPont unleashed a new wave of layoffs Thursday amid a deepening recession that has swollen government unemployment aid to a 26-year high.
AP - Commercial banks borrowed slightly less from the Federal Reserve's emergency lending program over the past week, while investment firms stepped up their loans.
Reuters - Fear of a deepening recession is spreading throughout corner offices across corporate America, prompting chief executives in all sectors to slash thousands of jobs as they scramble to find ways for their companies to survive the worst economic crisis since the Great Depression.
Reuters - Interest rates on U.S. 30-year fixed-rate mortgages plummeted by the largest amount in 27 years this week after an unprecedented intervention by the Federal Reserve, data from home funding company Freddie Mac showed on Thursday.
Reuters - Federal Reserve Chairman Ben Bernanke on Thursday urged more aggressive steps to halt home foreclosures and said government-funded programs could help strapped homeowners.
Reuters - Top U.S. phone company AT&T Inc said it will eliminate 12,000 jobs, or about 4 percent of its workforce, in a fresh wave of cuts to cope with an economic downturn that has exacerbated a decline in traditional phone sales.
AFP - US entertainment conglomerate Viacom announced on Thursday that it was slashing seven percent of its workforce, or 850 jobs, and freezing senior executive pay because of the worldwide economic slowdown.
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Getting home equity bad credit loans are very popular lately. In many cases a person with debt problems may be tempted to...
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