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Related Debt News for our Charlotteville NY visitors

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.

Reuters - Central banks in Europe slashed their benchmark interest rates by record amounts on Thursday to fight the global economic crisis, while U.S. automakers pleaded for a bailout to avoid collapse.

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 - 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.

AP - New claims for jobless benefits fell unexpectedly last week but the number of people continuing to receive government aid reached a 26-year high and large companies announced more job cuts Thursday.

AP - China promised more currency reform to ease trade tensions but told Washington to get its own economy in order as the two sides opened high-level economic talks Thursday amid a global financial crisis.

Reuters - Starbucks Corp , whose sales are slowing as U.S. consumers buy fewer premium coffee drinks, said on Thursday it does not expect to meet Wall Street estimates for the current quarter and would double its cost cuts for the full year.

AFP - The US Treasury is studying the possibility of more capital injections into financial institutions to help break a credit logjam, a senior official said Thursday.

AFP - China and the United States vowed Thursday at a top-level meeting in Beijing to cooperate in tackling the global economic crisis, even as they sparred over Chinese exchange rate reform.