Current Events

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… 

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… 

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… 

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… 

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… 

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… 

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… 

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… 

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…