Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery.
The housing market is holding back the broader economic recovery now that foreclosures have become a national crisis, a top Federal Reserve official said on Friday.
A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion.
Rating agency Standard & Poor's downgraded 34 Italian banks on Friday, including heavyweights UniCredit and Intesa Sanpaolo , citing a reduced ability to roll over their wholesale debt and expected weak profitability.
Massachusetts securities regulators said on Friday that they were subpoenaing Bank of America Corp for documents to determine whether the lender had knowingly overvalued assets in some investment products.
Euro zone central banks began to fill in some of the blanks surrounding their new, more accommodative lending rules on Friday, revealing banks will get between 90 and 11 percent of the face value of the freshly-eligible loans they can now use as collateral.
Greek Prime Minister Lucas Papademos told his turbulent coalition government on Friday to accept a harsh international bailout deal or condemn the nation to catastrophe.
Spain cut severance pay for workers on Friday and watered down collective bargaining rights, giving more power to employers as it attempts to kick start its moribund jobs market and slash Europe's highest unemployment rate.
Hyundai unveiled a coupe version of its popular Elantra model, adding another version to the budding Elantra lineup. The compact version of the Elantra has been the most successful, but with the coupe version, Hyundai will try to attract young buyers to a sportier look.
Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy.
Stocks fell on Friday, putting the S&P 500 on pace for its first weekly decline in the past six, after another snag in negotiations for a financial bailout package for Greece.
The historic streets of Athens are the site of much mayhem and political theater as tens of thousands of Greek citizens have taken to the street to demand their government cancel further austerity measures.
A California-based hedge fund manager surrendered to FBI agents on insider-trading charges on Friday, an FBI spokesman in New York said.
Money manager AllianceBernstein LP turned in another disappointing financial report on Friday, with fourth-quarter profit and revenue falling short of Wall Street expectations as clients continued to pull money out of its stock funds.
U.S. stocks dropped on Friday, putting the S&P 500 on pace for its first weekly decline in the past six, after another snag in negotiations for a financial bailout package for Greece.
On the second day of Mercedes-Benz Fashion Week in New York, PARKCHOONMOO unveiled her Fall 2012 collection which she derived from the aesthetic of Korean art. Drawing inspiration from Korean Zen Art, namely Yeo Baek or The Void, Park captured Zen, roughly defined as a “meditative state” of being, in its entirety on Friday. Park extracted the material and spiritual through residual energy with pieces mainly in Alpaca fur, lightweight organic cotton, flowy silk and wintry wool.
Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed.
Chinese e-commerce group Alibaba plans to take its Hong Kong-listed unit private, two sources familiar with the matter said, as part of a complex deal that would strengthen founder Jack Ma's control and give key stakeholder Yahoo cash and a direct stake in one of Alibaba's operating businesses.
Excess capacity in aluminium smelting will drag on for years to come, even while losses weigh on producers, as political pressures in China and Russia to keep jobs and push self-sufficiency prevent or delay plant closures.
Concerns about weak incomes weighed on consumer confidence in early February, but rising optimism over the jobs market should help to support spending and the broader economy.
Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed.
Tesla Motors unveiled the Model X, its third all-electric car, Thursday. The Model X is a hybrid between between an SUV and a minivan with many similarities to the Model S sedan. One distinct, eye-catching feature of the Model X, however, is its falcon wing back door design.
The U.S. trade deficit widened slightly more than expected in December, as stronger U.S. economic growth lifted imports to the highest level in three-and-a-half years.
Economists in a survey see the unemployment rate falling much faster this year than previously expected, an improvement in the jobs market that could help President Obama's re-election chances.
Striking Greek workers denounced a new wave of austerity on Friday as an imposition too far by Europe and the IMF. Finance Minister Evangelos Venizelos told the nation it faced a stark choice between sacrifices inside the euro area and bigger sacrifices outside.
Stocks dropped on Friday as the most recent flare-up in Greek negotiations for a financial bailout package put the S&P 500 on track to snap a three-day winning streak.
AllianceBernstein LP , a New York-based money manager controlled by French insurer AXA , said on Friday that net revenue fell 20 percent in the fourth quarter as clients continued to pull money from its stock funds.
Economists see the unemployment rate falling much faster than previously expected this year, even though they slightly lowered their outlook for economic growth, a survey released on Friday showed.
Apollo Global Management LLC became the latest private equity group on Friday to report lower fourth-quarter earnings due to mark-to-market valuations of its assets, even as the cash flow from its share of investment profits more than tripled.
Striking Greek workers denounced a new wave of austerity on Friday as a demand too far by the IMF and EU, but Finance Minister Evangelos Venizelos told the nation it had to decide within days whether to take the pain and stay in the euro or not.
