Business News
Stocks decline as worries about financials persistWall Street extended its slump into yet another week Monday as investors worried that even a safety net set up for mortgage financiers Fannie Mae and Freddie Mac won't head off further troubles in the financial markets.
Fannie-Freddie lifeline puts taxpayers on the hookNow that the federal government has thrown a lifeline to mortgage giants Fannie Mae and Freddie Mac, taxpayers could be on the hook for billions more if the crisis of confidence spreads.
General Motors to announce more cuts TuesdayGeneral Motors Corp. is expected to cut several thousand salaried jobs and further slash truck production in response to falling U.S. sales and Wall Street's demands for more action to stem its losses, according to two people briefed on the plan.
Fed adopts plan to curb shady mortgage practicesFor Roxanna Evans, the Fed's new rules to crack down on abusive lending practices, approved Monday, came too late.
Oil again settles above $145 a barrelOil settled above $145 a barrel for the third time this month, close to where it began on Monday, after a back-and-forth trading session that mimicked last week's wild swings.
InBev snags Anheuser-Busch and its marketing cloutThe King of Beers, the folks who spent lavishly to bring you the Bud Bowl, the Talking Frogs, the Whassup Guys and the Clydesdales, is being swallowed by a Belgian brewer known for its frugality.
Waste Management offers to buy Republic ServicesWaste Management on Monday made an unsolicited offer to buy disposal company Republic Services Inc. for $6.19 billion in cash, aiming to block its biggest rivals from teaming up against the nation's largest garbage hauler.
eBay beats Tiffany in court case over trademarksEBay Inc. scored an important victory in court Monday, as a federal judge said companies such as jeweler Tiffany & Co. are responsible for policing their trademarks online, not auction platforms like eBay.
National City plunges amid broad bank fearsShares of National City Corp. plunged Monday amid broad fears about the health of the nation's regional banks, and the company was forced to issue a statement reassuring investors of its soundness.
Freddie Mac auction draws plenty of biddersFreddie Mac attracted more bidders Monday for a highly anticipated auction of $3 billion in short-term securities than it had nearly all year, a day after the federal government provided support for the mortgage giant.