Executives of the nation's largest credit-card companies will meet with President Barack Obama at the White House on Thursday to discuss growing concerns about questionable practices in the industry.
A private sector group's index of leading economic indicators fell more than expected in March, but the forecast called for the recession's intensity to ease this summer.
Americans need to sharpen their financial know-how to help them best use their money, especially during the current economic crisis, Federal Reserve Chairman Ben Bernanke said Monday.
Sixteen months into this recession, the total number of jobs lost is nearly twice what it was during the last big recession from 1981 to 1982, and experts predict the American economy has not yet hit bottom. As more workers get laid off each month, adding to the millions still searching for work, more people are collecting unemployment checks than at any time in U.S. history.
Investors are having doubts about banks' profit reports and wondering whether their better-than-expected performance masks larger problems with bad debt.
About 1,600 white-collar workers at General Motors Corp. will lose their jobs in the next few days as the troubled automaker accelerates cost cuts in order to qualify for more government aid.
The number of people receiving jobless benefits exceeded 6 million for the first time, the government reported Thursday, and housing construction unexpectedly plunged to its second-lowest level on record — fresh evidence that the recession is far from over.
