January 19th, 2012
03:15 PM ET
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Greek debt talks end Day 2 with no deal ... yet

A deal on restructuring Greek debt remained elusive Thursday as talks with the nation's private sector creditors ended for a second day without agreement.

The Institute of International Finance, which represents the private sector investors who own Greek government bonds, said negotiations would resume Friday.

The talks in Athens hinge on a plan that that cuts the value of Greek government bonds in half.

The deal would result in significant losses for the private sector, which holds over €200 billion of Greece's €350 billion debt load.

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Filed under: Economy • Greece
April 27th, 2010
07:58 AM ET
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GM to add 1,600 jobs

General Motors will announce Tuesday that it will add 1,600 jobs as part of a $890 million upgrade of five plants in North America, according to a person familiar with the matter.

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Filed under: Economy • General Motors
April 20th, 2010
12:44 PM ET
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Geithner, Bernanke: Limit any more Lehmans

The nation's top finance officials said Tuesday that the collapse of Lehman Brothers highlights the need for more vigorous regulation of the financial markets.

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Filed under: Congress • Economy
April 7th, 2010
07:26 PM ET
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Greenspan: 'I was right 70 percent of the time'

Alan Greenspan acknowledged Wednesday that mistakes were made during his long tenure as chairman of the Federal Reserve, but he argued that the low interest rate policy he championed at the central bank didn't inflate the housing bubble.

In testimony before the Financial Crisis Inquiry Commission, Greenspan said the recent financial meltdown was possibly "the most severe in history." He admitted that regulators failed to grasp the severity of the crisis, but he maintained that his policies and predictions were correct most of the time.

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Filed under: Economy
April 1st, 2010
09:29 AM ET
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Geithner sees 'unacceptably high' jobless rate

Treasury Secretary Tim Geithner said he expects the unemployment rate to remain "unacceptably high" for a long time, even as the economy recovers and job growth slowly resumes.

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Filed under: Economy
March 31st, 2010
09:34 AM ET
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Private sector continues to shed jobs

Private-sector employers continued to cut jobs in March, highlighting the challenges still facing the nation's job market, according to a report released Wednesday.

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Filed under: Economy • Jobs • U.S.
March 23rd, 2010
06:33 PM ET
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Fed cracks down on gift card fees

The Federal Reserve announced final rules for gift cards Tuesday that the central bank says will help protect consumers from unexpected costs.

The rules, which go into effect in August, limit the fees that issuers are allowed to charge on gift cards, including inactivity, dormancy and other service fees. Issuers will also be required to clearly state the terms and conditions associated with gift cards.

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Filed under: Uncategorized
March 19th, 2010
10:42 AM ET
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35 cities suffer unemployment above 15%

There were 35 metropolitan areas in the United States with unemployment rates at or above 15% in January, according to a government report.

Just over half, or 19, of those unlucky cities were in California, according to the Labor Department. Michigan logged the next highest number,
with 6. Overall, jobless rates increased in the vast majority of the nation's 372 metropolitan areas.

In December, there were 25 cities with jobless rates above 15%, most of which were also in California and Michigan.

There were only 2 urban centers with rates below 5% in January. That compares with 10 areas that posted rates below 5% in December.

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Filed under: Economy • Jobs • U.S.