Labor Secretary Hilda Solis is 'concerned' that the unemployment rate climbed to 8.9 percent, but she told the Associated Press steps are being taken to help those who lost their jobs.
While U.S. Secretary of State Hillary Clinton continues her diplomatic talks with Chinese officials, some American workers say that China has cheated for business. Wyatt Andrews reports from Beijing.
Iceland's Prime Minister prepares to step down after announcing the collapse of the county's coalition government. Geir Haarde said last Friday he would resign and on Monday announced the demise of the coalition government under pressure over its handling of the financial meltdown.
The worldwide economic crisis has even struck the once-booming oil city of Dubai. As Sheila MacVicar reports, developers and investors are now facing a financial standstill due to mass overexpansion.
Store owners are creating unprecedented sales this year by slashing the price of merchandise by as much as 75 percent in an effort to get shoppers spending. Bill Whitaker reports from Los Angeles.
Over 6 million Chinese workers have lost their jobs this year, as growth has been severely hampered by an extended recession in the U.S. Celia Hatton reports from Dongguan, Southern China.
The start of the holiday shopping season proved deadly at both a Wal-Mart store in Valley Stream, New York and a Toys 'R' Us store in Palm Desert, California.
Yahoo, Inc. Founder and CEO Jerry Yang has announced he will step down, once the company finds a suitable replacement. Yang developed Yahoo back in the 1990's. He is expected to remain on the internet company's board of directors.
Fears of a deep global recession kept world markets under pressure Friday, as South Korea cut interest rates and the International Monetary Fund warned major economies will contract next year.
The Nikkei, Hang Seng, & ASX 200 indices may have posted different figures at the close of trading, but what each index has in common is that they all posted record low monthly declines in October
World leaders will meet Nov. 15 in Washington to address the global financial crisis _ the first in a series of summits to mitigate what economists predict could be a long and deep downturn. (Oct. 22)
The world's largest banks have upped their interest rates and the credit market is suffering. Financial experts say that frozen credit, not plunging stocks, is the real crisis. Nancy Cordes reports.
Some drivers waited nearly an hour to fill up at a Fort Worth, Texas gas station that had the lowest prices in the area, selling gas at well below $3 a gallon.
The leaders of Britain, France, Germany and Italy vowed at an emergency summit Saturday to help European banks and financial institutions in trouble but also to sanction the heads of failed banks, President Nicolas Sarkozy said. He was speaking at a news conference after the mini-summit in Paris.
Washington Mutual is the latest bank to go belly-up. The Seattle based savings and loan failed on Thursday and was purchased by JPMorgan Chase. The pricetag, nearly two billion dollars.
Congressional Republicans and Democrats have agreed in principle on a $700 billion bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days.
The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration. (Sept. 23)
Federal Reserve Chairman Ben Bernanke said Wednesday that the worsening financial crisis could prove a major weight on U.S. business growth and pledged to 'act as needed' to brace the wobbly economy. (Sept. 24)
Russia's Prime Minister Vladimir Putin has said Russia can withstand the current financial turmoil but, according to market experts, it's not going to be an easy ride.
Latest News
Labor Secretary Hilda Solis is 'concerned' that the unemployment rate climbed to 8.9 percent, but she told the Associated Press steps are being taken to help those who lost their jobs.
While U.S. Secretary of State Hillary Clinton continues her diplomatic talks with Chinese officials, some American workers say that China has cheated for business. Wyatt Andrews reports from Beijing.
Parliament’s president Hans-Gert Pöttering has condemned Venezuelan president Hugo Chávez for expelling a Spanish MEP from the country.
David Frazier, editor of The ETF Strategist, says the stimulus bill will be a wash for serious long-term investors.
Drywall manufactured in China is causing headaches for Florida builders and homeowners. It's the latest Chinese product tied to problems in the U.S.
Iceland's Prime Minister prepares to step down after announcing the collapse of the county's coalition government. Geir Haarde said last Friday he would resign and on Monday announced the demise of the coalition government under pressure over its handling of the financial meltdown.
Apple CEO Steve Jobs says he is taking a medical leave of absence until the end of June.
Falling demand from Europe and the United States is hitting Asian exports hard
Asian markets seemed to have gotten off to a rough start this week as each major index that was open for trading posted heavy losses this session.
The worldwide economic crisis has even struck the once-booming oil city of Dubai. As Sheila MacVicar reports, developers and investors are now facing a financial standstill due to mass overexpansion.
Store owners are creating unprecedented sales this year by slashing the price of merchandise by as much as 75 percent in an effort to get shoppers spending. Bill Whitaker reports from Los Angeles. 
Over 6 million Chinese workers have lost their jobs this year, as growth has been severely hampered by an extended recession in the U.S. Celia Hatton reports from Dongguan, Southern China. 
The start of the holiday shopping season proved deadly at both a Wal-Mart store in Valley Stream, New York and a Toys 'R' Us store in Palm Desert, California.
Harry Smith talks to Laurie Schacht from thetoyinsider.com who explains a bunch of super toys that kids really want.
Yahoo, Inc. Founder and CEO Jerry Yang has announced he will step down, once the company finds a suitable replacement. Yang developed Yahoo back in the 1990's. He is expected to remain on the internet company's board of directors. 
The Eurozone's biggest economy Germany has announced that the country is in recession.
Fears of a deep global recession kept world markets under pressure Friday, as South Korea cut interest rates and the International Monetary Fund warned major economies will contract next year.
The Nikkei, Hang Seng, & ASX 200 indices may have posted different figures at the close of trading, but what each index has in common is that they all posted record low monthly declines in October
Inflation in Egypt has hit 25 % and over the past month, the country has been rocked by the world's financial crisis. 
World leaders will meet Nov. 15 in Washington to address the global financial crisis _ the first in a series of summits to mitigate what economists predict could be a long and deep downturn. (Oct. 22)
The world's largest banks have upped their interest rates and the credit market is suffering. Financial experts say that frozen credit, not plunging stocks, is the real crisis. Nancy Cordes reports.
Some drivers waited nearly an hour to fill up at a Fort Worth, Texas gas station that had the lowest prices in the area, selling gas at well below $3 a gallon.
The leaders of Britain, France, Germany and Italy vowed at an emergency summit Saturday to help European banks and financial institutions in trouble but also to sanction the heads of failed banks, President Nicolas Sarkozy said. He was speaking at a news conference after the mini-summit in Paris.
Washington Mutual is the latest bank to go belly-up. The Seattle based savings and loan failed on Thursday and was purchased by JPMorgan Chase. The pricetag, nearly two billion dollars.
Congressional Republicans and Democrats have agreed in principle on a $700 billion bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days.
Maggie Rodriguez spoke with billionaire investor T. Boone Pickens about his loss of over a billion dollars since the economic meltdown.
Pressing urgently for a massive financial bailout, President Bush says 'our entire economy is in danger.' Mark Smith reports from the White House.
The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration. (Sept. 23) 
Federal Reserve Chairman Ben Bernanke said Wednesday that the worsening financial crisis could prove a major weight on U.S. business growth and pledged to 'act as needed' to brace the wobbly economy. (Sept. 24) 
Russia's Prime Minister Vladimir Putin has said Russia can withstand the current financial turmoil but, according to market experts, it's not going to be an easy ride.