Federal regulators shut 2 California thrifts
AP - 19 minutes ago
WASHINGTON (AP) - Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state.
World mulls tougher response against pirates
AP - 2 hours ago
BRUSSELS, Belgium (AP) - It sounds easy: dispatch naval commandos to storm a hijacked cargo ship, shoot or capture the ragtag band of pirates and free the hostage crew.
Pressure on Citigroup builds, shares fall below $4
AP - 5 hours ago
NEW YORK (AP) - Pressure intensified on Citigroup to sell part or all of itself as its stock fell below $4 a share on Friday and fears escalated about future loan losses.
Mexican growth slows to 1.6 pct, lowest since 2003
AP - 5 hours ago
MEXICO CITY (AP) - Mexico says its yearly growth rate dropped to 1.6 percent in the third quarter, its slowest rate since 2003, as the U.S. economy stalls.
Leaders of Asia, Americas face pressure on economy
AP - 7 hours ago
LIMA, Peru (AP) - Leaders of Asia and the Americas faced mounting pressure Friday to stop the spread of the financial crisis and resuscitate moribund free-trade talks as they flew into Lima for a weekend summit.
GM, Chrysler making deep cuts to hold on for loans
AP - 8 hours ago
DETROIT (AP) - When Chrysler was near death and awaiting a government bailout in 1979, then-CEO Lee Iacocca ordered drastic spending cuts and required all checks above $1,000 to be approved by a senior vice president.
Officials: Obama plans to tap Geithner at Treasury
AP - 8 hours ago
WASHINGTON (AP) - President-elect Barack Obama intends to name Timothy Geithner, president of the New York Federal Reserve, as his treasury secretary to confront the nation's intense economic turmoil, senior Democratic officials said Friday. The stock market soared on the news.
Venezuelan oil falls to lowest price in 22 months
AP - 9 hours ago
CARACAS, Venezuela (AP) - Prices for Venezuelan oil reached their lowest level in 22 months Friday as fears of a global recession stalled demand, slashing the main source of cash for President Hugo Chavez's hefty state spending.
Wal-Mart names Duke to succeed Scott as CEO
AP - 10 hours ago
NEW YORK (AP) - Wal-Mart Stores Inc., the world's largest retailer, unexpectedly announced Friday that its chief executive will retire in February and be replaced by the head of its international division.
Regulators shut failed bank in Georgia
AP - 10 hours ago
WASHINGTON (AP) - Georgia regulators on Friday shut down The Community Bank, the 20th failure this year of a federally insured institution.