President Bush signed a housing rescue plan into law. The hoped-for relief comes amid further home price declines and rising delinquencies. The Federal Reserve extended an emergency credit line to Wall Street firms through the start of next year. The extension was the latest attempt by central banks in the U.S. and in Europe to fix the credit turmoil, which began last summer. In a bit of positive economic news. The economy surprisingly added private-sector jobs in July, according to a private survey. Government numbers are released on Friday. Americans are showing restraint when it comes to credit cards. A recent survey showed more than one-third of respondents are using credit cards less and pulling back on spending overall. There was a sharp rebound in the price of oil. U.S. gasoline supplies surprisingly fell last week. Israeli Prime Minister Ehud Olmert is stepping down in September re-igniting geo-political concerns. Crude oil surged about $4.50 a barrel to settle below...
3 Dec 08: Central banks boost Asia Pacific markets - British Airways eyes up merger with Qantas - Stagecoach sees rise in profits - Bank of England meets on interest rates
Most Asian share markets crawled higher Wednesday, although regional automakers remained under pressure as global demand tumbles. Japan's Honda Motor fell amid reports it will scale down its...
Seeking desperately needed funding General Motors, submitted restructuring plans to Congress late Tuesday. The biggest of Detroit's three automakers seeks a government rescue package worth $18...
President Bush said he thought the economy was slowing down but not headed into a recession. MOREINFO: New data released Thursday showed slow fourth-quarter growth and a bigger-than-expected jump...
On a drive to bolster faith in the U.S. economy amid fears of a recession, U.S. President Bush said on Friday the economy would regain its strength despite the hard times. SOUNDBITE: U.S....
The price of a barrel of oil closed at an all-time high of $104.52 on Wednesday as supply concerns, border tensions in South America, and speculative buying all combined to give traders a powerful...
Facing a potential wave of default by homeowners with sub-prime mortgages, top lenders have agreed to a five-year freeze on some adjustable-rate loans. [Notes:ABC Pool: Bush] President Bush...
Despite a global selloff, Wall Street seems to have dodged the bullet - for now. Although stocks dropped 2 percent at they open, following steep losses in Asia and Europe, they quickly pared back...
The lines outside this IndyMac branch in Pasadena California came as a shock to many Americans who thought all their money was safe. SOUNDBITE: Ben Betters, of Altadena, California, United States,...
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