Interest rates on short-term Treasury bills fell in Monday's auction with rates on six-month bills dropping to the lowest level since mid-January.
America's wholesalers slashed inventories for a seventh straight month in March as businesses struggled to get stockpiles in line with plunging sales.
The head of the Securities and Exchange Commission said today she favors a new proposal for federal regulators sharing oversight of companies that pose financial risks to the economy.
The pace of layoffs slowed in April when employers cut 539,000 jobs, the fewest in six months. But the unemployment rate climbed to 8.9 percent, the highest since late 1983, as many businesses remain wary of hiring given all the economic uncertainties.
Federal Reserve Chairman Ben Bernanke today called for a holistic approach to strengthening oversight of the banking system to prevent future financial crises.
While supporting improved retirement plan fee disclosure, the head of the Investment Company Institute said yesterday that congressional criticism of 401(k) plan fees has been inflated by critics.
European stocks extended their rally today and U.S. markets opened higher ahead of the formal release of the results for the U.S. government's stress tests of the country's biggest banks.
Consumers enticed by warmer weather and glimmers of hope for the economy bought a few more items in April, helping to lift sales results at established stores.
Investment losses and subprime mortgage impairments drove Genworth Financial Inc. to a first-quarter loss, and the insurer says it plans to sell up to 49 percent of its Canadian mortgage business to raise cash.
While charitable giving using the Internet continues to rise, the pace is slowing down due to the recession, according to a survey published yesterday by The Chronicle of Philanthropy.
