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WASHINGTON – Construction of new homes in America plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived.
Embattled homebuilders, who enjoyed a five-year boom, are now building new homes and apartments at a record-low pace, according to government data released […]
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Circuit City Stores Inc. said Monday it is closing about 20% of its U.S. stores - cutting thousands of jobs - in an effort to return the nation’s No. 2 consumer electronics retailer to profitability.
The Richmond, Va.-based company said it will shutter 155 of its more than 700 stores in 55 markets, including Phoenix […]
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Although global oil prices have plummeted, the cost of heating your home this winter will be a lot more expensive, especially for households that depend on fuel oil, the Energy Department predicted Tuesday.
Households that use fuel oil can expect to spend an average of $2,388 - or $449 more than last year - for […]
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NEW YORK – Oil prices tumbled below US$95 a barrel today, falling for a second day as investors bet that a revised US$700 billion financial bailout plan won't be enough to avoid a recession and revive dwindling U.S. energy demand.
The declines came a day after the Senate overwhelmingly approved the bitterly contested rescue […]
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Treasury Secretary Henry Paulson on Friday didn’t mince words when it came to the cost of his latest proposal to stem the credit crisis.
"We’re talking hundreds of billions of dollars - this needs to be big enough to make a real difference and get at the heart of the problem," he said. "This […]
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U.S. financial institutions are using stock swaps and intricate loan transactions to help foreign investors avoid paying billions of dollars in taxes on dividends paid by U.S. companies, according to a Senate report to be released on Thursday.
The report by the U.S. Senate Homeland Security subcommittee on permanent investigations said investment bankers use phrases […]
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A 23 percent drop in oil prices since mid-July brightens the outlook for troubled airlines, but clouds remain thick over the industry, with little hope that carriers will scale back downsizing plans or repeal unpopular fees.
The U.S. airline industry has fallen on hard times, as rising fuel prices have far outpaced a series […]
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U.K. consumer confidence fell the most in at least four years in July after house prices slumped, unemployment rose and inflation accelerated, Nationwide Building Society said.
An index of sentiment, taken from the responses of 1,000 people from June 23 to July 20, declined 11 points to 51, the biggest drop since the survey […]
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BP PLC reported a 28% rise in second-quarter profit on Tuesday, exceeding analyst expectations, as crude oil soared to record levels and natural gas also made big gains.
BP (BP), Europe’s second biggest oil producer behind Royal Dutch Shell PLC, posted profit of $9.47 billion for the three months ending June 30, up from $7.38 […]
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Imagine going to your local grocery store and paying over $8 for a jar of Jif peanut butter. How about $5.50 for a loaf of white bread, $6.50 for a gallon of milk or $7.19 for a half-gallon of orange juice?
These are just some of the prices we found in a recent survey of […]
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