SAN FRANCISCO - Southern California home sales fell to a 20-year low in January, as purchaseers and sellers appeared to be waiting for market turbulence to pass, according to a report issued on Wednesday.
DETROIT - Chrysler LLC asked a federal judge on Wednesday to let it take equipment and its business from bankrupt auto parts supplier Plastech Engineered Products Inc, saying bail-out options under discussion would have cost the money-losing automaker tens of millions of dollars.
WASHINGTON - A new plan by six major lenders to delay home foreclosures for a few borrowers will not be any more effective than a government-brokered temporary rate freeze program rolled out several weeks ago, a top United States banking regulator has said on Wednesday.
NEW YORK - Morgan Stanley will slash 1,000 jobs, scale back its United States home-lending business and shut down a British mortgage unit as new management takes a hard look at the continued deterioration in mortgage markets.
WASHINGTON - Treasury Secretary Henry Paulson on Wednesday stood by his view that the economy will avoid recession this year and grow at a slower pace, and that the Treasury will act quickly to distribute tax rebate payments.
NEW YORK - New York Attorney General Andrew Cuomo has said on Wednesday he is conducting an industry-wide probe of health insurers into an alleged scheme to defraud consumers by manipulating reimbursement rates.
NEW YORK - Stocks rallied on Wednesday after an unexpected rise in United States retail sales during January suggested consumer spending would hold up and help the economy avert a recession.
WASHINGTON - A new plan by six major lenders to delay home foreclosures for a few borrowers won’t be any more effective than a government-brokered temporary rate freeze program rolled out several weeks ago, a top United States banking regulator has said on Wednesday.