RSSยป Business
Officials announce takeover of mortgage giants
WASHINGTON - The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.
OPEC considers cutting oil production
VIENNA, Austria - With oil prices off nearly 30 percent from their highs of almost $150 a barrel, OPEC oil ministers are considering what was unthinkable just a few weeks ago _ cutting back output to prop up the price of crude.
Auto industry to press Congress for $50B in loans
WASHINGTON - Auto industry allies hope to secure up to $50 billion in government loans this month that would pay to modernize plants and help struggling car makers build more fuel-efficient vehicles.
WWE wrestles for share of Japanese market
TOKYO - Posing for a snapshot with a glittery championship belt in a packed theater, Seigi Nishiyama was among some 600 fans who can't get enough of World Wrestling Entertainment.
Fannie, Freddie blind to the bubble
WASHINGTON - Mortgage giants Fannie Mae and Freddie Mac _ despite their robust cadre of economists and mortgage experts _ failed to heed warnings that the most dramatic housing bubble in U.S. history would burst.
Talks fail; machinists strike Boeing Co.
EVERETT, Wash. - Striking Boeing Co. production workers hunkered down Saturday for what could be along, bruising battle with costly repercussions for both sides.
Price increases push US soy beyond reach of poor
SURABAYA, Indonesia - With the dollar a day he earns scrounging for scrap metal and paper, Jumadi can't buy his family beef or even chicken. But until now, the rail-thin scavenger could at least afford soy.
AirAsia takes risks with expansion amid downturn
KUALA LUMPUR, Malaysia - AirAsia, the region's biggest budget carrier, is making a risky bet.
WWE steps up push in Japan market
TOKYO - Posing proudly for a snapshot with a glittery championship belt, Seigi Nishiyama is among some 600 other sports fans packing a Tokyo theater who can't get enough of World Wrestling Entertainment.
Silver State Bank in Nevada is shut
WASHINGTON - Regulators on Friday shut down Silver State Bank, saying the Nevada bank failed because of losses on soured loans, mainly in commercial real estate and land development.