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Treasury Secretary Henry Paulson may have to rely more on the worst stock market plunge in two decades and a deepening credit-market freeze than personal persuasion to sell his bank bailout plan to Congress.
Paulson pledged to work with lawmakers after the House of Representatives yesterday rejected a $700 billion rescue, sparking the biggest […]
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Senate Republicans on Friday blocked a plan by Democrats to pump $56 billion in government spending into the economy through public works projects, help for the jobless and money for states struggling with their Medicaid bills.
The 52-42 tally fell well short of the 60 votes needed to defeat a GOP filibuster. The White House […]
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Gas prices fell back, yet again, marking the sixth straight decline, according to a nationwide survey of credit card swipes at gasoline stations.
The average price of unleaded regular dropped 1.3 cents to $3.726 a gallon, from $3.739 a gallon, according to the survey released Tuesday by motorist group AAA.
While prices have now […]
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Argentina's economic growth likely accelerated in July after slowing in June as a four-month farm protest that had blocked major highways came to an end.
“July was a month that saw an increase in activity after the partial solution of the farm conflict,'' said Florencia Arcieri, an economist at the Buenos Aires-based Orlando Ferreres […]
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PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) does not expect the U.S. financial crisis to hit its business and will invest a further $500 million in India over the next three years as part of its focus on fast-growing emerging markets, its chief executive said on Sunday.
But high commodity prices and global inflation […]
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Most online retailers — 72 percent — believe selling on the Web can better withstand a slowing economy, according to a new study by Shop.org.
“Internet retailers have good reason for optimism as budget-focused shoppers head to the Web for value and convenience,” said Scott Silverman, executive director of shop.org, a division of the D.C.-based National […]
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A U.S. bankruptcy judge approved a revised version of British bank Barclays Plc’s deal to purchase the core U.S. business of Lehman Brothers Holdings Inc.
In a Manhattan court hearing that started on Friday and lasted past midnight, U.S. Bankruptcy Judge James Peck approved the sale, saying he had found no better alternative for the […]
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U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke proposed moving troubled assets from the balance sheets of American financial companies into a new institution.
Congressional leaders who met with Paulson and Bernanke late yesterday in Washington said they aim to pass legislation soon. The initiative, which may also insure money-market […]
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The world’s top central banks joined forces on Thursday to throw a multi-billion dollar lifeline to global markets in a dramatic effort to free up bank-to-bank lending, frozen by the upheavals on Wall Street.
In a surprise move, the U.S. Federal Reserve made an extra $180 billion available to central banks around the world to […]
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Congress will attempt to pass a key energy bill this week, testing its ability to deliver on a promise of action on oil as the Sept. 26 deadline edges closer.
Democrats and Republicans are both eager to pass a bill in an election year and in the wake of two major hurricanes that raised gas […]
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