The U.S. mortgage meltdown has crushed dozens of lenders and is causing severe liquidity problems at the largest, Countrywide Financial Corp.
Prices of metals, energy and grains tumbled on Thursday as commodities were caught up in a global rush out of risky investments for the safety of cash.
U.S. restaurants are most likely to feature California wines that sell for less than $39 a bottle, according to a new report.
Countrywide Financial Corp shares fell as much as 9.2 percent on Wednesday after the largest U.S. mortgage lender was downgraded to sell from buy by a Merrill Lynch & Co. analyst, who said bankruptcy may be possible if liquidity worsens.
Biotechnology giant Amgen Inc is gearing up for cost cuts as it weathers a siege on its lucrative anemia drug business that accounted for about half of its sales last year.
It will be a weekend of high anxiety for investors on Wall Street, as they brace themselves for what will likely be another rollercoaster ride for the battered financial markets.
Countrywide Financial Corp led shares of U.S. mortgage companies lower on Friday as investors received fresh reminders that a shortage of liquidity might crimp profits.
The last time the U.S. markets experienced such wild swings as they have in the past week, Wall Street warriors in their 20s and 30s were trading baseball cards and lunchbox snacks, not stocks and bonds.
Wall Street's roller-coaster ride, triggered by the meltdown in subprime mortgage lending, is spreading pain through financial markets -- but has not hit Main Street yet.
Electronic Arts Inc. and Hasbro, Inc. on Friday said they have made a licensing agreement to create electronic versions of some of Hasbro's most popular games including Monopoly, Scrabble and Yahtzee.
EMC Corp.'s Vmware raised the target price of its initial public offering to as much as $1.1 billion, making it one of the largest technology IPOs since Google in 2004.
An adviser to Broadcom Corp. ex-Chief Executive Henry Nicholas, on Thursday appeared in federal court in California, where he faces charges that he failed to report currency withdrawals from an Orange County bank.
American International Group, one of the biggest U.S. mortgage lenders, warned on Thursday that mortgage defaults are spreading.
A lower percentage of Latin American workers living in the United States is sending money to family members back home, a report showed on Wednesday.
Homeowners who fall behind on mortgage payments say lenders have grown slightly more flexible in scheduling late payments but are less accommodating than they ought to be, according to a study released on Wednesday.
Countrywide Financial Corp said on Monday it had access to $186.5 billion of cash as of June 30, as the largest U.S. mortgage lender attempts to assure nervous investors it expects to survive a credit crunch that has claimed dozens of smaller rivals.
Banks including JPMorgan Chase, Bank of America and HSBC might be interested in buying Bear Stearns Cos at the right price, but there would be real obstacles to a deal happening anytime soon, analysts said.
Shares of subprime lenders and companies with a stake in the risky end of the real estate business plunged in midday trading on Monday as analysts downgraded them and negative news continued to worry the market.
The search leader says it is staying away from behavioral targeting for online ads. Privacy issues loom.
Walt Disney Co. reported a 4.7 percent increase in net profit on Wednesday, driven by strong television program sales and higher receipts at its theme parks.
Clean technology is evolving from environmental issue to big business, opening a world of opportunities for companies, entrepreneurs and investors who see a chance to -- yes -- clean up, says a new book.
'The golden dream by the sea' is how Gov. Arnold Schwarzenegger has fancifully described California. Yet for thousands who bought homes during the Golden State's latest housing boom, foreclosures have turned recent months into a nightmare.
