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Oil surges above $103 as dollar weakens
Feb 28 2008 10:21PM (CT)
NEW YORK (AP) - Crude prices extended their march into record high territory Thursday, shooting up more than $2 a barrel as a falling dollar and the prospect of lower interest rates attracted more investors to the oil market. Retail gas prices, meanwhile, rose closer to records above $3 a gallon.
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AIG posts $5.3B loss in 4Q
Feb 28 2008 8:04PM (CT)
NEW YORK (AP) - American International Group Inc., the largest insurer in the U.S., lost more than $5 billion in the fourth quarter as bad credit ate into its investments, the company said Thursday.
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Sears, Kohl's see 4Q profits fall
Feb 28 2008 7:05PM (CT)
MILWAUKEE (AP) - More evidence of a consumer spending malaise surfaced Thursday as Sears Holdings Corp. and Kohl's Corp. reported double-digit profit drops in the fourth-quarter.
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Sears, Kohl's see 4Q profits fall
Feb 28 2008 7:05PM (CT)
MILWAUKEE (AP) - More evidence of a consumer spending malaise surfaced Thursday as Sears Holdings Corp. and Kohl's Corp. reported double-digit profit drops in the fourth-quarter.
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Sears, Kohl's see 4Q profits fall
Feb 28 2008 7:05PM (CT)
MILWAUKEE (AP) - More evidence of a consumer spending malaise surfaced Thursday as Sears Holdings Corp. and Kohl's Corp. reported double-digit profit drops in the fourth-quarter.
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Sears, Kohl's see 4Q profits fall
Feb 28 2008 7:05PM (CT)
MILWAUKEE (AP) - More evidence of a consumer spending malaise surfaced Thursday as Sears Holdings Corp. and Kohl's Corp. reported double-digit profit drops in the fourth-quarter.
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IRS sending out millions of alerts
Feb 28 2008 5:57PM (CT)
WASHINGTON (AP) - Don't be alarmed. More than 130 million households will get letters from the Internal Revenue Service beginning next week and the news is good.
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Feds alert Ford owners to recalls
Feb 28 2008 5:41PM (CT)
WASHINGTON (AP) - The government on Thursday warned owners of about 4.6 million recalled Ford vehicles to bring their cars and trucks immediately to dealerships to disconnect cruise control switch systems that have been linked to engine fires.
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Treasurys rally on weak economic reports
Feb 28 2008 5:40PM (CT)
NEW YORK (AP) - Treasury prices rallied sharply Thursday after new reports showed the economy barely moved forward at the end of last year and that jobless claims rose last week.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Bush, Fed chief see no recession ahead
Feb 28 2008 5:29PM (CT)
WASHINGTON (AP) - The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon.
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Rates on 30-year mortgages rise
Feb 28 2008 4:39PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages rose for a third straight week, hitting the highest level in more than three months.
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Rates on 30-year mortgages rise
Feb 28 2008 4:39PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages rose for a third straight week, hitting the highest level in more than three months.
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Freddie Mac posts $2.5B loss in 4Q
Feb 28 2008 4:31PM (CT)
WASHINGTON (AP) - Freddie Mac on Thursday said its loss widened to $2.5 billion in the fourth quarter of 2007 as mortgage defaults mounted and falling interest rates hurt certain investments.
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Gold hits record on weak dollar
Feb 28 2008 4:28PM (CT)
NEW YORK (AP) - Gold prices trekked higher Thursday, touching a record $975 an ounce as an inflationary combination of high oil prices and a falling dollar pointed investors to the relative safety of precious metals.
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Gold hits record on weak dollar
Feb 28 2008 4:28PM (CT)
NEW YORK (AP) - Gold prices trekked higher Thursday, touching a record $975 an ounce as an inflationary combination of high oil prices and a falling dollar pointed investors to the relative safety of precious metals.
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New day, new lows for dollar
Feb 28 2008 4:17PM (CT)
NEW YORK (AP) - The dollar dipped further Thursday, reaching a new low against the euro, after data confirmed that the U.S. economy nearly braked to a halt at the end of last year _ limiting the Fed's options as it tries to steer through the housing and credit crises.
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Paulson rejects government bailouts
Feb 28 2008 4:14PM (CT)
WASHINGTON (AP) - Treasury Secretary Henry Paulson said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good.
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Analysis: Bernanke quick political study
Feb 28 2008 3:06PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke is proving to be a quick study in navigating a treacherous housing slump and credit crisis that could push the economy into a recession. He also seems to be learning fast on an equally perilous course _ avoiding political land mines in Washington.
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Scarce shoppers sap Sears 4Q profit
Feb 28 2008 2:40PM (CT)
CHICAGO (AP) - The financier who leads struggling retailer Sears Holdings Corp. hinted Thursday at a plan that would allow some of the chain's most popular and exclusive brands be sold at other stores.
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Bernanke doesn't see return of '70s woes
Feb 28 2008 12:59PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation isn't "anywhere near" the dangerous stagflation situation of the 1970s.
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Bernanke doesn't see return of '70s woes
Feb 28 2008 12:59PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation isn't "anywhere near" the dangerous stagflation situation of the 1970s.
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Bernanke doesn't see return of '70s woes
Feb 28 2008 12:59PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation isn't "anywhere near" the dangerous stagflation situation of the 1970s.
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Bernanke doesn't see return of '70s woes
Feb 28 2008 12:59PM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation isn't "anywhere near" the dangerous stagflation situation of the 1970s.
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Cost to feed hogs drags Smithfield 3Q
Feb 28 2008 12:01PM (CT)
NORFOLK, Va. (AP) - Pork producer Smithfield Foods said Thursday that third-quarter profits fell about 10 percent on lower live hog prices and higher raising costs, but the results beat expectations handily.
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XM Satellite Radio narrows loss in 4Q
Feb 28 2008 10:02AM (CT)
McLEAN, Va. (AP) - XM Satellite Radio Holdings Inc. said Thursday that it narrowed its fourth-quarter loss thanks to a 20 percent jump in revenue and a favorable comparison to last year, when the company took a significant write-down.
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Sprint Nextel posts larger $29.5B loss
Feb 28 2008 8:47AM (CT)
OVERLAND PARK, Kan. (AP) - Sprint Nextel Corp. swung to a huge fourth-quarter loss of $29.5 billion on Thursday as it wrote down most of the remaining value of its 2005 purchase of Nextel Communications Inc. and continued to lose customers to competitors.
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Cablevision swings to profit in 4Q
Feb 28 2008 8:44AM (CT)
NEW YORK (AP) - Cablevision Systems Corp. says it swung to a profit in the fourth quarter from a loss a year ago as it added more Internet and phone customers.
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Strike at parts supplier closes GM plant
Feb 28 2008 7:18AM (CT)
DETROIT (AP) - A strike at a key parts supplier is starting to have an impact on General Motors Corp., which said Wednesday it will temporarily close a pickup truck plant in Pontiac due to a parts shortage.
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Japan factory output falls 2 percent
Feb 28 2008 7:17AM (CT)
TOKYO (AP) - Japan's industrial output fell more than expected in January on weaker overseas demand for electronic devices and cars, the government said Thursday, adding to fears the nation's economy may be facing a recession.
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German unemployment dips
Feb 28 2008 7:16AM (CT)
BERLIN (AP) - Germany's unemployment rate dipped to 8.6 percent in February as a relatively mild winter added to momentum from the country's economic upswing, government figures showed Thursday.
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Samsung son appears for questioning
Feb 28 2008 6:09AM (CT)
SEOUL, South Korea (AP) - The son of the chief executive of powerful Samsung Group appeared for questioning Thursday by special prosecutors investigating allegations of corruption at the huge conglomerate.
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Nissan still interested in US partner
Feb 28 2008 6:08AM (CT)
TOKYO (AP) - Nissan still sees a partnership with a North American auto company as good for its long-term strategy, but the Japanese automaker isn't in any talks now, Chief Executive Carlos Ghosn said Thursday.
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Japan's FTC investigates 2 panel makers
Feb 28 2008 5:35AM (CT)
TOKYO (AP) - Japan's fair trade watchdog raided two electronics companies Thursday on suspicion of fixing prices of display panels for Nintendo's popular DS portable game machines, officials said.
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Cattails targeted for sunflower farmers
Feb 28 2008 4:41AM (CT)
BISMARCK, N.D. (AP) - Federal wildlife officials will target entire parcels of cattail-choked wetlands in North Dakota this year to kill the preferred habitat of sunflower-scarfing blackbirds.
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Cattails targeted for sunflower farmers
Feb 28 2008 4:41AM (CT)
BISMARCK, N.D. (AP) - Federal wildlife officials will target entire parcels of cattail-choked wetlands in North Dakota this year to kill the preferred habitat of sunflower-scarfing blackbirds.
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House OKs new taxes on big oil companies
Feb 28 2008 3:06AM (CT)
WASHINGTON (AP) - The House approved $18 billion in new taxes on the largest oil companies Wednesday as Democrats cited record oil prices and rising gasoline costs in a time of economic troubles.
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Fannie Mae posts $3.6 billion loss
Feb 28 2008 3:05AM (CT)
WASHINGTON (AP) - Fannie Mae and Freddie Mac will be allowed to expand their roles in the turbulent mortgage market even as worsening conditions in the housing sector punish the two companies.
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Japan stocks fall on profit-taking
Feb 28 2008 2:57AM (CT)
TOKYO (AP) - Japanese stocks retreated from seven-week highs Thursday as investors took profits in high tech blue chips after a weakening dollar and worse-than-expected industrial output numbers soured market sentiment.
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Japan stocks fall on profit-taking
Feb 28 2008 2:57AM (CT)
TOKYO (AP) - Japanese stocks retreated from seven-week highs Thursday as investors took profits in high tech blue chips after a weakening dollar and worse-than-expected industrial output numbers soured market sentiment.
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China, S. Korea probe factory closures
Feb 28 2008 2:54AM (CT)
SHANGHAI, China (AP) - China and South Korea are investigating complaints that hundreds of Korean-invested factories have closed down, leaving workers without pay.
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