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The U.S. Senator who leads the Senate subcommittee that oversees the Federal Reserve and economic policy has written letters to federal bank regulators questioning the condition of IndyMac Bancorp Inc. of Pasadena.
Sen. Charles Schumer, a Democrat from New York, sent the letters to the Federal Deposit Insurance Corp., the Office of Thrift Supervision, the Federal […]

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Merger activity in the United States dropped 29 percent in the second quarter, faring better than the 40 percent global slump, as corporations filled the void left by buyout firms and targeted big consumer brands such as Anheuser-Busch Cos Inc (BUD.N: Quote, Profile, Research, Stock Buzz) and Wm. Wrigley Jr Co (WWY.N: Quote, Profile, […]

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The Federal Reserve is sounding the alarm on inflation without committing to raise interest rates.
The Federal Open Market Committee left its benchmark rate at 2 percent yesterday and said “upside risks'' to prices have picked up. The statement also said consumer spending is “firming,'' while acknowledging that rising energy prices will be a […]

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Ireland's economy will fall into a recession this year for the first time in more than two decades, the Economic and Social Research Institute said, slashing its forecasts for construction, exports and consumer spending.
Gross domestic product will drop by 0.4 percent this year, the Dublin-based institute said today, having predicted growth of 1.8 […]

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With sales of full-size pickups in a steep decline, Ford Motor Co. said Friday it is delaying the launch of its new, redesigned Ford F-150 pick-up by two months.
The full-size pick-up, which had been due to enter showrooms in early fall will now come out in late fall, instead.
Ford also announced more production cutbacks. […]

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Citigroup Inc.’s chief financial officer on Thursday warned that the nation’s largest bank by assets would suffer more "substantial" writedowns on debt investments in the second quarter.
CFO Gary Crittenden also said that there will likely be more writedowns related to leveraged loans and bond insurers.
Citigroup (C, Fortune 500) shares fell 77 cents, or 3.8%, […]

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China's economic expansion this year will get a 0.4 percentage point boost from reconstruction work after the nation's deadliest earthquake in 32 years, a government research agency said.
Disruptions to production will shave off 0.1 percentage point, leaving a net 0.3 percentage point gain, the State Information Center said. The report was in today's […]

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For many people in Oklahoma, life is built around the car.
With several refineries in the region, years of cheap fuel have made it possible for many people to live far from their jobs.
Now the situation is unraveling.
Cindy LaBeff, 46, drives 70 miles a day from the small town of McLoud to her job […]

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The world's most powerful governments are looking for ways to boost economic growth to compensate for record oil prices, just as central bankers gird for an inflation fight.
French President Nicolas Sarkozy wants to cap value-added taxes on fuel, the U.K. is cutting taxes for energy producers and Japan is helping truckers. Italy is […]

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On the first day of what is to be a two-week economic tour around the country, Barack Obama said Monday that lawmakers should inject another $50 billion immediately into the sluggish U.S. economy.
The presumptive Democratic presidential nominee cited the largest monthly increase in the unemployment rate in over 20 years, and record highs in […]

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