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Retailing Chains Caught in a Wave of Bankruptcies

a shared story    384 weeks 2 days 20 hours 56 minutes ago
The consumer spending slump and tightening credit markets are unleashing a widening wave of bankruptcies in American retailing, prompting thousands of store closings that are expected to remake suburban malls and downtown shopping districts across the country. Since last fall, eight mostly midsize chains — as diverse...(more) 




Food Costs Rising Fastest in 17 Years

a shared story    384 weeks 2 days 21 hours ago
Maybe the candidates should consider talking about an issue for a change instead of dragging everyone down. Here's a suggestion, from the story: "Steve Tarpin can bake a graham cracker crust in his sleep, but explaining why the price for his Key lime pies went from $20...(more) 




AIG crisis could be tip of an insurance iceberg

a shared story    334 weeks 4 days 1 hour 8 minutes ago
When insurance giant American International Group Inc. imploded last fall, the firm's problems were quickly blamed not on its core insurance business, but on an obscure operation that traded exotic mortgage securities. But as the economic crisis has deepened, it has become clear that AIG's problems extend...(more) 




US Foreclosure Filings Nearly Double in September

a shared story    411 weeks 12 hours 39 minutes ago
Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure, a real estate information company said Thursday. 




AP study finds $1.6B went to bailed-out bank execs

a shared story    348 weeks 4 days 10 hours 36 minutes ago
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. 



buzz  17  + buzz


Citigroup Buys Banking Operations of Wachovia

a shared story    360 weeks 3 days 15 hours 41 minutes ago
Citigroup has agreed to buy Wachovia’s banking operations for $1 a share, a move that that would concentrate power within the nation’s banking industry in the hands of a few giant lenders.  




The American mood: Is the angst bottoming out?

a shared story    332 weeks 5 days 11 hours 40 minutes ago
Friday night in northern New Jersey, circa April 2009, offers clues to prove any theory about the American economic meltdown, depending on what you want to believe. Just like so many places these days. 




FHA's dilemma - back loans, stay solvent

a shared story    293 weeks 5 days 8 hours 34 minutes ago
Keally McBride and her husband both have good jobs and credit scores, but they would not have been able to buy their three-bedroom home in Oakland's Grand Lake area if not for Federal Housing Administration insurance that allowed them to put down just 3.5 percent. 



buzz  1  + buzz


US group urges China to open insurance, securities markets

a shared story    23 minutes ago
BEIJING (AP) -- An American business group has urged to China to allow more access to its insurance and other service industries, saying foreign skills could help develop its volatile stock markets and cope with disasters like the recent chemical explosion in Tianjin.... 



buzz  13  + buzz


On brink of financial collapse, state lawmakers struggle with budget passage

a shared story    340 weeks 4 days 2 hours 29 minutes ago
Lawmakers continued struggling to pass a budget this afternoon after working nearly around the clock to end a three-month impasse that has brought California to the brink of fiscal collapse. An all-night legislative session failed to yield enough Republican votes for the spending plan, as GOP legislators...(more) 



buzz  1  + buzz


Oil markets catch breath after biggest gains in six years

a shared story    3 hours 23 minutes ago
SEOUL (Reuters) - Crude oil futures were largely steady on Friday after posting their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies.  



buzz  1  + buzz


Asia extends global stocks rally as upbeat U.S. GDP soothes sentiment

a shared story    3 hours 23 minutes ago
TOKYO (Reuters) - Asian shares extended a global rally on Friday after upbeat U.S. economic data calmed sentiment shaken by days of turmoil in Chinese equities.  



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