GM shares hit 74-year low: General Motors Corp. shares on Friday tumbled to their lowest level in more than 70 years, pulled down by a drop in the broader markets and continued speculation about the future of the struggling automaker.
Saab Seeks Protection From Creditors as GM Pulls Out: Saab Automobile sought protection from creditors after parent General Motors Corp. said it will cut ties with the Swedish carmaker following two decades of losses.
US bank stocks fall to 17-year low: US banking shares hit their lowest level since 1992 on Thursday as fears mounted that the government would be forced to nationalise a key institution.
Fed offers bleak economic outlook: The Federal Reserve cut its economic outlook for 2009 on Wednesday and warned that the United States economy would face an "unusually gradual and prolonged" period of recovery as the country struggles to climb out of a deep global downturn
California Prepares To Eliminate 10,000 Jobs: Tax revenues have plunged by billions of dollars as the recession clobbers California, leaving the state without sufficient cash to pay its bills. The remedy offered by the governor and lawmakers is to reopen the budget in the middle of the fiscal year, enact deep cuts and tax increases, and work out a fix that will cover the state's spending through June 2010.
Court's 'rocket docket' blasts through foreclosures: As the Obama administration unveiled its plan to rescue the U.S. housing market, officials in Lee County have come up with their own plan for dealing with the crisis. To clear a huge backlog of foreclosures, judges are hearing "rocket dockets" of nearly 1,000 cases per day and calling retired colleagues back to the bench to help ease the workload.
Plan: $10 tax to file on paper: Fee proposed for state income taxes returns not filed electronically draws protests
J.C. Penney reports 51 percent slide in 4Q profit: J.C. Penney Co. reported a 51 percent drop in fourth-quarter profit Friday as customers sharply cut spending on clothing and other items. The results beat Wall Street expectations, but the chain projected a wider first-quarter loss than analysts had predicte
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