Noted economist Gary Shilling says with U.S. consumers continuing their saving spree, repaying debts and remaining hesitant to spend like they did during the boom times, a meaningful economic recovery in the U.S may not materia…
U.S. household wealth increased 2.2% in the third quarter as stock prices rose and consumers cut debt, according to a Federal Reserve report released Thursday. Companies’ cash balances also grew in the third quarter.
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Standard & Poor’s lowered the credit ratings for AT&T and Verizon Communications on Monday, saying that increased competition will make it harder for the two largest phone companies to pay down their long-term debt.
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Standard & Poor’s lowered the credit ratings for AT&T and Verizon Communications on Monday, saying that increased competition will make it harder for the two largest phone companies to pay down their long-term debt.
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Ford Motor announced Wednesday that it had reduced its debt by $1.9 billion after note-holders converted their debt into 274 million shares of common stock. The automaker’s annual interest expenses will be reduced by $180 mill…