Stay updated on financial news, market trends, and economic changes that affect your money. From interest rate hikes to government policy shifts, we break down what’s happening now—and what it means for your finances.
Struggling auto giant General Motors announced a plan on Monday to exchange 225 shares of common stock for every $1000 of outstanding notes in an effort to reduce its debt costs – “a vital component… GM Announces Aggressive Plan to Avoid Bankruptcy
Numbers released by the government on Friday on new-construction home sales indicate that the U.S. housing market may be nearing a turnaround. Sales of new single family homes in March 2009 were a seasonally-adjusted annually… New Home Sales Drop Less Than Expected
The Labor Department reported on Thursday that jobless claims for the week ending April 18 rose to 640,000, up by 27,000 from the previous week’s revised figure of 613,000. The four-week moving average – which… Jobless Claims Up, Home Sales Down
President Obama on Thursday met with executives of credit card divisions for major banks to discuss the impact of the economic crisis on consumers. Afterward, Obama said that he had a “constructive meeting” with the… Obama Addresses Consumer Concerns with Credit Card Issuers
Exxon Mobil Corp. bumped Wal-Mart Stores, Inc. out of the number one position in the 2009 Fortune 500 list released on Sunday. Fortune’s list ranks companies by their annual revenue. Exxon-Mobil surpassed the retail giant’s… Exxon-Mobil Takes Top Spot on Fortune 500 List
Bank of America, which has received $45 billion of the Treasury’s $700 billion financial rescue package, surprised investors today by announcing first-quarter 2009 net income of $4.2 billion. Investors may have been surprised, but they… Bank of America Profits Nicely First Quarter – Shares Slide
Citigroup surprised Wall Street on Friday by ending their five-quarter losing streak and reporting a better-than-expected loss per share. The New York-based bank posted a net income of $1.6 billion for the first quarter of… Citigroup Reports Better Than Expected First Quarter
In an effort to demonstrate President Obama’s commitment to openness and transparency, the tax returns of the President and Vice President were released to the public on April 15. The President and First Lady filed… White House Releases Tax Returns of President and Vice President
The Federal Trade Commission announced on Tuesday a multi-agency effort to crack down on foreclosure rescue fraud and loan modification scams. The economic crisis has forced many struggling homeowners to look for a way to… Multi-Agency Crackdown on Foreclosure Rescue Fraud and Loan Modification Scams
The Federal Trade Commission reported on Wednesday that it has charged seven related companies with violating federal law by falsely promising to remove negative marks on consumer’s credit reports. The complaint was filed in the… Credit Repair Agencies Charged with Deceiving Consumers