The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the U.S. financial system and jump-start the economy.
Oil prices were up to near $78 a barrel Friday, continuing a weeklong rally amid an unexpected drop in U.S. gasoline inventories.
New US jobless claims drop unexpectedly to 514,000, continuing claims fall below 6 million
There will be no cost of living increase for more than 50 million Social Security recipients next year, the first year without a raise since automatic adjustments were adopted in 1975, the government announced Thursday.
With the stock market rallying for nearly eight months, it might be easy to overlook the opportunities in the credit markets, according to Kristin Ceva, head of global fixed-income investing at Payden & Rygel.
Financial advisers who have sold certain types of retirement and other benefit plans to small businesses might soon be facing a wave of lawsuits — unless Congress decides to take action soon.
The fierce debate over bonuses for bailed-out executives was revived on Capitol Hill Wednesday as a government watchdog explained how some executives nearly brought down the financial system — then pocketed millions.
Insurer American International Group Inc. said late Monday it has agreed to sell its nearly 98 percent stake in Taiwan unit Nan Shan to an investor group led by Hong Kong's Primus Financial for about $2.15 billion.
Standard & Poor's will introduce new factors for its U.S. style indexes during the fourth quarter of this year, the company revealed today.
A top White House official issued a robust defense of the Obama administration's recovery policies on Monday with a pointed critique of economic conditions and fiscal policies during the presidency of George W. Bush.
