Most Popular Business News

NEW YORK - The U.S. has not endured a deep and prolonged recession in more than a quarter century — enough time for many Americans to forget what one feels like.

WASHINGTON - Fear and loathing is spreading as signs mount that the economy is in danger of losing its balance.

NEW YORK (Reuters) - Federal investigators have opened an investigation into the collapse of Washington Mutual Inc , the largest U.S. banking failure.

HONG KONG - Asian stocks plummeted Thursday, with Tokyo's market plunging more than 10 percent, after another dive on Wall Street as worse-than-expected data about the U.S. economy heightened fears of a global recession.

NEW YORK (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday gave a dour assessment of the U.S. economy, emphasizing a "significant threat" from turmoil in credit markets in remarks that suggested more interest-rate cuts could be coming.

NEW YORK - Investors agonizing over a faltering economy sent the stock market plunging all over again Wednesday after a stream of disheartening data convinced Wall Street that a recession, if not already here, is inevitable. The market's despair propelled the Dow Jones industrials down 733 points to their second-largest point loss ever, and the major indexes all lost at least 7 percent.

BRUSSELS, Belgium - The Group of Eight major industrial nations announced Wednesday they will hold a global summit — perhaps as early as November in New York — to forge common action to prevent another economic meltdown.

HONG KONG (Reuters) - Asian stocks plummeted, led by an 11 percent drop on Japan's Nikkei, and oil prices dropped to a one-year low on Thursday as fears grew of a more protracted and sharp global slowdown than initially expected.

(Reuters) - Insurance giant American International Group Inc is spending money to lobby states to soften new controls on the mortgage industry, the Wall Street Journal said.

TOKYO - Japanese Prime Minister Taro Aso said Thursday the U.S. bank bailout is "insufficient" and is contributing to the renewed plunge in global stock markets.

NEW YORK - The U.S. has not endured a deep and prolonged recession in more than a quarter century — enough time for many Americans to forget what one feels like.

WASHINGTON - Fear and loathing is spreading as signs mount that the economy is in danger of losing its balance.

HONG KONG - Asian stocks plummeted Thursday, with Tokyo's market plunging more than 10 percent, after another dive on Wall Street as worse-than-expected data about the U.S. economy heightened fears of a global recession.

HONG KONG (Reuters) - Asian stocks plummeted, led by an 11 percent drop on Japan's Nikkei, and oil prices dropped to a one-year low on Thursday as fears grew of a more protracted and sharp global slowdown than initially expected.

NEW YORK (Reuters) - Federal investigators have opened an investigation into the collapse of Washington Mutual Inc , the largest U.S. banking failure.

NEW YORK (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday gave a dour assessment of the U.S. economy, emphasizing a "significant threat" from turmoil in credit markets in remarks that suggested more interest-rate cuts could be coming.

NEW YORK - Investors agonizing over a faltering economy sent the stock market plunging all over again Wednesday after a stream of disheartening data convinced Wall Street that a recession, if not already here, is inevitable. The market's despair propelled the Dow Jones industrials down 733 points to their second-largest point loss ever, and the major indexes all lost at least 7 percent.

TOKYO - Japanese Prime Minister Taro Aso said Thursday the U.S. bank bailout is "insufficient" and is contributing to the renewed plunge in global stock markets.

NEW YORK (Reuters) - Wall Street had its worst day since the 1987 stock market crash on Wednesday, as bleak economic data fed worries that all the efforts to unlock credit markets may not stave off a severe recession.

BRUSSELS, Belgium - The Group of Eight major industrial nations announced Wednesday they will hold a global summit — perhaps as early as November in New York — to forge common action to prevent another economic meltdown.

(Reuters) - Insurance giant American International Group Inc is spending money to lobby states to soften new controls on the mortgage industry, the Wall Street Journal said.

NEW YORK (Reuters) - Federal investigators have opened an investigation into the collapse of Washington Mutual Inc , the largest U.S. banking failure.

HONG KONG - Asian stocks plummeted Thursday, with Tokyo's market plunging more than 10 percent, after another dive on Wall Street as worse-than-expected data about the U.S. economy heightened fears of a global recession.

HONG KONG (Reuters) - Asian stocks plummeted, led by an 11 percent drop on Japan's Nikkei, and oil prices dropped to a one-year low on Thursday as fears grew of a more protracted and sharp global slowdown than initially expected.

WASHINGTON - Fear and loathing is spreading as signs mount that the economy is in danger of losing its balance.

TOKYO (Reuters) - The president of Toyota Motor Corp (7203.T) said the business environment has deteriorated beyond earlier expectations and predicted the key North American car market would remain sluggish through next year.

DETROIT (Reuters) - Nissan Motor Co Ltd plans to recall 204,361 vehicles from its 2007 and 2008 model years in the United States due to the possibility that a passenger side airbag could fail to deploy properly in an accident.

NEW YORK (Reuters) - Wall Street had its worst day since the 1987 stock market crash on Wednesday, as bleak economic data fed worries that all the efforts to unlock credit markets may not stave off a severe recession.

NEW YORK - JPMorgan Chase & Co.'s profit tumbled 84 percent in the third quarter after it took big hits from souring mortgage investments, leveraged loans and home loans.

WASHINGTON - The country has sunk deeper into an economic rut, the Federal Reserve reported Wednesday, reflecting mounting damage from the financial and credit crises.