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Bank of America CEO Ken Lewis is quickly learning just how lonely life at the top can really be.
Last week, the Charlotte-based company reported its first quarterly loss in years, hit hard by rising credit costs and sizeable writedowns.
Making matters worse, the Treasury Department needed to give the bank an additional $20 […]

Filed under: economics by Forest
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JEFFERSON CITY — Missouri’s energy debate is about to go nuclear.
A state lawmaker filed a bill in the Legislature on Thursday that sets the stage for a battle between utility interests who want to build a new nuclear plant and consumer groups that are leery of the costs.
The action comes the day […]

Filed under: business by Forest
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Senior aides to President-elect Barack Obama say he will convene a meeting of his top economic advisers on Wednesday, his first full day in office, as the incoming president immediately tries to put the financial crisis at the center of his agenda.
Three aides said the incoming president is planning an ambitious first week that […]

Filed under: money by Forest
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Interest rates on U.S. 30-year fixed-rate mortgages dropped for the 11th straight week to a record low, according to a survey released on Thursday by home funding company Freddie Mac.
Interest rates on the 30-year fixed-rate mortgage averaged 4.96%, with an average 0.7 point, for the week ending Jan. 15, down from the previous week’s […]

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There are likely to be a slew of bankruptcies this year, but the process will be more challenging and costly than ever as a drought in bankruptcy loans has changed the rules of the game.
Companies like VeraSun, Tronox and LyondellBasell’s Lyondell Chemical Co have said the credit crunch sent them scouring markets for months […]

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The dollar retreated against major currencies Wednesday as two weak jobs reports showed that the already battered U.S. labor market wasn’t getting better.
The reports were a harbinger of a dismal government unemployment report due out Friday, further underscoring the recession.
The ADP report "is pushing the dollar lower because it is negative for the […]

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Treasurys started 2009 on a down note Friday in the first trading day of the new year.
Government-issued bonds are coming off their best year since 1995, returning more than 13.7% to investors in 2008, but analysts say support for bonds could come to a crashing end in 2009.
Despite record bond auctions totaling hundreds […]

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