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Watch out, speculators: The Commodity Futures Trading Commission is getting tough on crime. But since, as the CFTC has said, speculation hasn't pushed up prices, the crackdown will benefit its image more than the economy.
The dollar was mixed against other currencies Thursday, after reports showed eroding business confidence in Germany and France, the euro zone's biggest economies, amid pessimism over economic prospects.
Renewed fears about the battered housing market and rising unemployment sent stocks into a tailspin Thursday.
The amount of money Americans pulled out of their homes is at a four-year low as homeowners battle falling home values and stricter standards among lenders, Freddie Mac said Thursday.
Treasury prices were higher Thursday on worse-than-expected unemployment claims data and existing home sales, indicating that the economy is still under pressure and providing motivation for investors to seek the safety of longer-term government bonds.
Sales of existing homes in June slowed more than expected and hit their lowest level in 10 years, according to an industry trade group report released on Thursday.
The government charged an oil trading firm Thursday with manipulating oil prices in the first complaint to be announced since the regulators began a new investigation into wrongdoings in the energy markets.
The House on Wednesday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
Rates on 30-year mortgages rose for the third consecutive week amid concerns about mounting inflation, the weak housing market and speculation that the Federal Reserve will hike interest rates soon.
Minimum-wage laws around the U.S. are a patchwork of federal and state legislation. On Thursday, the federal minimum wage rose to $6.55 per hour, but the change only affects workers in 26 states (plus Washington, D.C.). The remaining 24 states already have state minimum wages set above $6.55 per hour.
Watch out, speculators: The Commodity Futures Trading Commission is getting tough on crime. But since, as the CFTC has said, speculation hasn't pushed up prices, the crackdown will benefit its image more than the economy.
The dollar was mixed against other currencies Thursday, after reports showed eroding business confidence in Germany and France, the euro zone's biggest economies, amid pessimism over economic prospects.
Renewed fears about the battered housing market and rising unemployment sent stocks into a tailspin Thursday.
The amount of money Americans pulled out of their homes is at a four-year low as homeowners battle falling home values and stricter standards among lenders, Freddie Mac said Thursday.
Treasury prices were higher Thursday on worse-than-expected unemployment claims data and existing home sales, indicating that the economy is still under pressure and providing motivation for investors to seek the safety of longer-term government bonds.
Sales of existing homes in June slowed more than expected and hit their lowest level in 10 years, according to an industry trade group report released on Thursday.
The government charged an oil trading firm Thursday with manipulating oil prices in the first complaint to be announced since the regulators began a new investigation into wrongdoings in the energy markets.
The House on Wednesday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
Rates on 30-year mortgages rose for the third consecutive week amid concerns about mounting inflation, the weak housing market and speculation that the Federal Reserve will hike interest rates soon.
Minimum-wage laws around the U.S. are a patchwork of federal and state legislation. On Thursday, the federal minimum wage rose to $6.55 per hour, but the change only affects workers in 26 states (plus Washington, D.C.). The remaining 24 states already have state minimum wages set above $6.55 per hour.
Oil market investors tried but failed to start a rally in crude Thursday, leaving prices hovering below $125 a barrel after an earlier move higher. At the gas pump, prices continued their retreat.
With commodity, fuel and insurance costs hitting record highs, small-business owners are anxious about Thursday's federal minimum wage hike, which will require employers in 26 states and the District of Columbia to raise their base to at least $6.55.
A falling dollar is making the United States a cheaper place for foreigners to live - just as other countries are getting harder on American wallets.
The number of newly laid off people filing claims for unemployment benefits bolted past 400,000 last week as companies trimmed their work forces to cope with a slowing economy.
The good news: The economy is not as bad as it was in the early 1980s, when unemployment hit 10% and the inflation rate touched the double digits. The bad news: A lot of small business owners think it is.
The national minimum wage went up 70 cents on Thursday as the second of three planned increases mandated by Congress took effect.
Oil prices edged up Thursday after shedding nearly $4 a barrel in the previous day's session on concerns that high fuel prices are dampening demand in the world's biggest energy consumer.
Gas prices declined for the 7th straight day Thursday, according to a nationwide survey of credit card swipes.
Malaysia's annual inflation rate spiraled to a 27-year high in June after a fuel price hike sent the cost of food and transport soaring, the government said.
Japan's trade surplus in June fell 88.9 percent from a year earlier marking the fourth straight month of decline, the government announced Thursday.
The Senate voted Wednesday to move forward on a bill meant to crack down on oil speculators.
Oil prices shed nearly $4 Wednesday, tumbling below $125 a barrel for the first time since early June on growing fears that high prices and the weak economy are destroying demand.
Mortgage brokers and loan officers are getting paid fat fees by lenders to put unsuspecting borrowers into expensive loans. And the new lending rules issued last week by the Federal Reserve do nothing to stop this abusive practice.
Airline stocks on Wednesday traded higher as oil prices - the industry's greatest burden - plunged.
The dollar jumped to a two-week high against the euro Wednesday, spurred by falling oil prices and apparent weakness in the European economy.
Treasury prices fell Wednesday as legislation aimed at rescuing the ailing housing market neared approval, giving bondholders a reason to venture back into more risky investments.
By inadequately vetting participants in its HUBZone set-aside program, the Small Business Administration has mistakenly placed more than $20 million in government contracts in the hands of undeserving businesses, according to a recent Government Accountability Office report spotlighted in a hearing last week by the House Committee on Small Business.
Oil prices continued to decline Wednesday, after a government report showed stronger-than-expected inventories and a Federal Reserve report showed a weakening economy.
The country slogged through slower economic growth and rising prices during the summer, packing a double whammy to people and businesses alike.
Mortgage application volume declined 6.2% during the week ending July 18, according to the trade group Mortgage Bankers Association's weekly application survey.
President Bush dropped his opposition Wednesday to legislation aiming to calm the chaotic housing market despite his objections to a $3.9 billion provision. The House was expected to vote on the bill Wednesday, and it could become law as early as this week.
Oil prices slipped further Wednesday after tumbling more than $3 a barrel in the previous session as a hurricane looked likely to spare key oil installations in the U.S. Gulf of Mexico.
Gasoline prices fell for the 6th straight day Wednesday, according to a nationwide survey.
Question: Both my husband and I have 401(k)s that are annuities backed by mutual funds. The returns, compared to our rollover IRAs in Fidelity funds, are unimpressive. What is the best strategy for dealing with a lousy 401(k)?
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market.
The United States took the first bold step in a week of crunch trade talks Tuesday, slicing $1.4 billion (€880 million) from any previous offer to limit contentious, trade-distorting subsidies to American farmers.
Partisan bickering Tuesday threatened to scuttle legislation meant to crack down on oil speculators and other measures designed to reduce oil prices.
U.S. stocks staged a late-day rally Tuesday, with the Dow closing up 135 points, as falling oil prices overshadowed grim quarterly financial reports.
The dollar eased against the euro and yen Monday, with market observers saying investors were waiting for quarterly corporate results coming out over the next few weeks.
The predicted demise of bank dividends has been greatly exaggerated.
A real estate research firm says foreclosures in California soared in the second quarter to the highest level in at least 20 years.
There are two things you may have heard about the Federal Reserve Board, both of which are wrong.
Legislation meant to crack down on oil speculators passed a key test vote in the Senate on Tuesday.
Treasury prices fell Tuesday as the president of the Philadelphia Federal Reserve said inflation needs to be corrected "sooner rather than later."
Treasury Secretary Henry Paulson said Congress needs to quickly approve a support package for Fannie Mae and Freddie Mac in order for the two to maintain their vital roles
To fend off inflation, the Federal Reserve probably will need to boost interest rates "sooner rather than later" even if employment and financial conditions haven't revived, the president of the Federal Reserve Bank of Philadelphia said Tuesday.
Bank examiners from the Federal Reserve and the Comptroller of the Currency are scrutinizing the books of U.S. mortgage finance giants Fannie Mae and Freddie Mac, according to a published report.
Prices at the pump extended their decline overnight, a nationwide survey of gas station credit card swipes showed Tuesday.
Oil prices held steady near $131 a barrel Tuesday in Asia on expectations Tropical Storm Dolly won't disrupt oil operations in the Gulf of Mexico.
Either we're sitting on a potential cure for high oil prices or we're wasting our time.
Gerri Willis answers reader's questions.
Ever find yourself going off on the customer service representative after a particularly steep credit card fee or unexpected rate increase? Well now is your chance to tell those who could ultimately change credit card laws in the United States.
Treasury prices eased Monday as stocks opened higher, lifted by stronger-than-expected earnings from Bank of America, and as the dollar lost ground to the euro.
Delinquencies among commercial mortgages rose slightly in June due to increases in delinquencies among office and retail sectors, credit ratings agency Fitch Ratings said Monday.
The stock market is volatile, banks are getting battered and everyone is talking about losing money. If you're feeling skittish about your savings, you're not alone.
Engulfed by economic and financial turbulence, Federal Reserve Chairman Ben Bernanke has taken extraordinary steps to ease the nation's problems. His own finances are a bit more straightforward.
The European Union said Monday it would be willing to slash farm tariffs by 60 percent as part of a new global trade pact, the deepest cut it has ever offered.
Oil prices rose Monday in Asia to over $130 a barrel on concerns that the threat of new sanctions against Iran over its nuclear program may escalate tensions in the oil-rich Gulf region.
Some pre-negotiation jabbing turned into a potentially damaging diplomatic incident Saturday when Brazil's foreign minister said rich countries' deception in trade talks reminded him of tactics used by Nazi propaganda chief Joseph Goebbels.
Fuel prices at the pump fell again overnight, a nationwide survey of gas station credit card swipes showed Saturday.
Treasury Secretary Henry Paulson sought to reassure an anxious public Sunday that the banking system is sound, while also bracing people for more troubled times ahead.
The political vision of a summer gas tax holiday died a quick death in Congress, losing to a view that federal excise taxes on gasoline and diesel fuel will have to go up if they go anywhere
The political vision of a summer gas tax holiday died a quick death in Congress, losing to a view that federal excise taxes on gasoline and diesel fuel will have to go up if they go anywhere.
Price of gas got you crying at the pump? Is it eating into your household budget? Well, get used to it.
Oil prices edged modestly higher Friday as news of an output cut in Nigeria helped to halt, at least temporarily, the week's sharp decline in prices
Mortgage financier Freddie Mac took a step toward issuing common and preferred stock to help bolster its balance sheet Friday
Are you ready to buy a house in this crazy market? Better bring a boatload of money to the closing.
The dollar fell against the euro on Friday as German government figures showed producer prices in Europe's largest economy rising at their fastest pace in 26 years.
Fuel prices at the pump fell overnight, a nationwide survey of gas station credit card swipes showed Thursday.
Oil climbed back above $130 a barrel Friday in Asia as news of an output cut in Nigeria helped to halt the steady decline in prices that began three days ago.
Oil climbed back above $130 a barrel Friday in Asia as news of an output cut in Nigeria helped to halt the steady decline in prices that began three days ago.
Merrill Lynch booked its fourth-straight quarterly loss Thursday, this time losing nearly $5 billion, as the nation's largest brokerage was forced to once again take massive writedowns.
In the last three days oil prices have fallen by roughly $10 a barrel. Many analysts say slackening demand, or the threat of it, is the main culprit.
A group representing the buyers and sellers of mortgage backed securities unveiled a plan on Wednesday to recharge the moribund mortgage market.
Oil prices fell steeply on Thursday, extending a decline to a three-day record $15.89 a barrel, as natural gas prices tumbled and investors anticipated declining demand.
A plan emerging in Congress would require government approval of executives' pay at Fannie Mae and Freddie Mac as part of a federal lifeline for the mortgage companies.
Rates on 30-year fixed mortgages fell for the second week in a row on increased speculation that the Federal Reserve will not raise interest rates before the end of the year, according to mortgage backer Freddie Mac.
JPMorgan Chase said Thursday that profit plunged in the second quarter, stung by $1.1 billion in writedowns, but the firm still managed to beat Wall Street projections.
The number of newly laid-off people signing up for jobless benefits rose last week as companies keep work forces lean given the economy's slowdown.
Washington is tying itself in knots trying to shore up confidence in the financial sector.
Oil extended its fall early Thursday after plummeting more than $10 a barrel in the previous two sessions as evidence mounted that record prices are slowing U.S. demand.
Prices at the pump kept up their record-setting run overnight, a nationwide survey of gas station credit card swipes showed Thursday.
U.S. Federal Reserve Chairman Ben Bernanke told the U.S. Congress on Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in "no danger of failing."
The FBI is investigating Indymac Bancorp for fraud, a source tells CNN.
Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers
Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers, The Associated Press has learned.
The dollar rose against the euro and yen Wednesday, signaling that investors may be starting to be a little more optimistic about the economy.
Some Federal Reserve policymakers said late last month that they believed interest rate hikes would be needed "very soon" to combat inflation, according to minutes of the Fed's last meeting.
The service cuts that have caused so much frustration for passengers are starting to help the airlines.
U.S. cities are racing to cope with ever-increasing demand on public transportation as gas prices remain at record levels.
Oil prices tumbled Wednesday, extending a massive sell-off the previous day, after the government reported that U.S. crude and gasoline supplies unexpectedly jumped last week
Politics in the workplace can get vicious -- and we're not talking about the governmental kind.
Federal Reserve Chairman Ben Bernanke testifies for a second day before Congress amid a backdrop of fading confidence in the U.S. economy
Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in "no danger of failing"
Oil prices tumbled Wednesday, extending a steep and unusually volatile slide into a second day, after the government reported a surprising spike in U.S. crude and gasoline supplies.
Americans are raiding their already fragile retirement piggy banks to weather financial hardships such as unemployment, medical emergencies and buying a home.
Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in "no danger of failing."
CSX Corp. says preliminary results of the railroad's contentious board vote show that four out of five directors nominated by activist hedge fund shareholders TCI and 3G Capital have been elected to its board.
Record gas and higher food prices drove inflation to the biggest annual jump since 1991 and fanned fears about growing pressures on consumers.
Federal Reserve Chairman Ben Bernanke testifies for a second day before Congress amid a backdrop of fading confidence in the U.S. economy.
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