JPMorgan Chase may come to regret buying Bear Stearns. Suits by Wells Fargo and bond insurer Ambac claim that Bear entirely disregarded loan quality to appease its trading desk’s ever-growing demand for mortgages to securitize….
The American Petroleum Institute is taking issue with the president’s State of the Union demand to end subsidies and tax breaks for oil producers. While Obama didn’t say just which subsidies he’d cut, the industry isn’t waiting…
In Asia Friday the Nikkei 225 Index sank 1.1% to 10,360 and Hong Kong’s Hang Seng Index slid 0.7% to 23,617. In China the Shanghai Composite Index inched up 0.1% to close at 2,753.
Continue reading Nikkei Slide…
Back in 2009, General Motors applied to the Department of Energy for $14.4 billion in loans to help it manufacture more fuel-efficient vehicles. Today, with the automaker making big strides in turning around its business, GM sa…
While home prices were falling last fall nearly nationwide, the pace of sales has picked up more recently. Overall, it seems clear that the worst of the housing debacle has passed. It’s just that the U.S. remains on a slow, gri…