General Motors Corp. could be majority owned by the federal government and the United Auto Workers under a massive restructuring plan laid out Monday that will cut 21,000 U.S. factory jobs by next year and phase out the storied Pontiac brand.
Water cooler conversations, the symbolic purveyors of societal small talk, now include the words "derivatives," "Ponzi schemes" and "subprime mortgage." Welcome to America's new lexicon.
The nation's 19 largest banks are receiving report cards showing how they performed in the government's stress tests to assess their soundness, a process that could roil the industry.
Demand for big-ticket manufactured goods and new home sales both were better than expected in March, raising some hopes that the long slides in manufacturing and housing are slowly coming to an end.
Investors set aside some of their worries about the economy Friday after Ford Motor Co. posted better-than-expected results for the first three months of the year.
States responsible for more than a third of President Barack Obama's $787 billion stimulus program should be able to tap some of the recovery money to cover costs of managing the new spending, a congressional watchdog agency said Thursday.
