In a 6 a.m. e-mail, President-elect Obama announced New York City housing commissioner Shaun Donovan as his pick for the Department of Housing and Urban Development.
The Federal Reserve is considering changes to credit card regulations, including prohibiting banks from raising interest rates on existing balances unless the customer is 30 or more days late with the minimum payment and dictating how banks should apply payments that exceed the minimum.
Bernard L. Madoff is charged with stealing as much as $50 billion as part of his "Ponzi scheme," in what may be the largest fraud in the history of Wall Street.
The railroad operator expects fourth-quarter revenues to be down 5 percent from a year earlier and annual growth to slow to less than 10 percent.
Boone County’s Regional Economic Development Inc. board received a pitch on Wednesday to collaborate with a similar group representing the Kansas City region.
Actions taken by the Democratic-led Congress and the outgoing administration — moves generally supported by President-elect Barack Obama — already have reversed decades of deregulation and privatization that Presidents Ronald Reagan, George W. Bush and George H.W. Bush all championed.
As part of the $15 billion plan, President George W. Bush would appoint a "car czar" to oversee the bailout money and a restructuring of the auto industry.
The president-elect calls for an end to the "head-in-the-sand approach" by U.S. automakers. And he said he backs Congress in drafting legislation that "holds the auto industry's feet to the fire" even as it tries to bail it out.
The Chicago-based media conglomerate has hired advisers for advice on a bankruptcy filing, but the company says it's considering a variety of options.
Despite an economic slowdown, department stores are catering to the younger customer, predicting parents will agree to the holiday present demands. But some experts say it's important to talk with children about what parents can and can't afford to buy.
Stein Bagger, chief executive of a Copenhagen-based software company, walked into a downtown Los Angeles police station Saturday and told police he was an international fugitive.
Hoping to push through a solution the White House will buy, Democratic congressional aides began drafting a $15 billion auto bailout for Detroit's Big Three Saturday.
Kansas City-based Interstate Bakeries Corp. was cleared to exit bankruptcy Friday.
Belden, a St. Louis-based electronics components maker, will be restructuring the company to save $30 million next year and $50 million annually starting in 2011, according to a news release from Belden. The restructuring will result in the loss of 1,800 jobs, or 20 percent of its total work force.
General revenues are down 3.9 percent compared to the previous year through the fiscal year's first five months.
The nation's three largest automakers, Chrysler, GM and Ford, are requesting up to $34 billion from Congress to financially stabilize the industry. They have each drawn up specific recovery plans detailing what they will do with the money, and what concessions and sacrifices they will make to cut costs.
Every major automaker reported a year-over-year sales decline of more than 30 percent on Tuesday. The Detroit carmakers were among the worst hit, with GM's U.S. sales falling 41 percent and Chrysler LLC's dropping 47 percent.
Four major auto parts manufacturers in Columbia have experienced varied levels of difficulty making ends meet during the economic downturn.
The government and other agencies buckled to aggressive lobbying and banks’ word about troubled mortgages early on.
The National Bureau of Economic Research has determined that the U.S. economy has been in a recession since December 2007. Many economists believe the current downturn will last well into 2009.