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Frank Defends Oversight Of Fannie, Freddie

Posted: 07/24/2009 - House Financial Services Chairman Barney Frank is defending Democrats' oversight of struggling mortgage buyers Fannie Mae and Freddie Mac.

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Fiat Wins EU Approval For Chrysler Stake

Posted: 07/24/2009 - The European Commission says it has given Italian auto maker Fiat SpA regulatory approval to take a 20-percent stake in struggling U.S. car maker Chrysler.

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Strike Averted At Germany's Bayreuth Festival

Posted: 07/24/2009 - Union leaders say they have signed an agreement with organizers of the Bayreuth Festival, avoiding a strike one day before the world-famous Wagner celebration was to begin.

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Geithner Defends Financial Oversight Reform

Posted: 07/24/2009 - Treasury Secretary Timothy Geithner (GUYT'-nur) says he welcomes a debate on how to tighten oversight of the financial system to prevent another economic meltdown but that stakeholders must agree to act quickly.

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Some Question Minimum Wage Increase

Posted: 07/24/2009 - The federal minimum wage goes up 70 cents today. Backers of the increase say it's long overdue for millions of the nation's working poor. But some economists say the increase could prolong the recession

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Dow Tops 9,000

Posted: 07/23/2009 - The Dow Jones industrials rose back above 9,000 for the first time since early January.

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VW To Pursue Deal With Porsche

Posted: 07/23/2009 - Volkswagen AG says it will pursue an eventual combination with Porsche but vows the sports car maker will not lose its independence.

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June Existing Home Sales Rise By 3.6%

Posted: 07/23/2009 - A real estate group's report says sales of previously occupied homes rose 3.6% from May to June, the third consecutive monthly increase and a sign that a housing recovery is under way in much of the country.

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New Jobless Claims Rise To 554K, Total Rolls Fall

Posted: 07/23/2009 - The government says the number of newly laid-off workers seeking jobless benefits rose last week, though the report was distorted by the timing of auto plant shutdowns.

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Regulators Seek Millions From Auto Corporation CEO

Updated: 07/22/2009 - Regulators are seeking more than $4 million from the former chief executive of auto parts retailer CSK Auto Corp., accusing him of profiting while the company allegedly committed accounting fraud.

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Qualcomm Third Quarter Profit Edges Lower

Updated: 07/22/2009 - Qualcomm says its fiscal third-quarter profit edged slightly lower, though CEO Paul Jacobs says the chip maker had a strong quarter and healthy demand.

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E-Trade 2Q Loss Widens To $143 Million

Updated: 07/22/2009 - Online broker E-Trade Financial Corp. says it had a deeper second-quarter loss as loan defaults and investments continued to pressure profit.

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Some IMF Members Say China's Currency Undervalued

Posted: 07/22/2009 - The International Monetary Fund is welcoming China's progress in letting the market determine the value of its currency, the yuan, but says some countries believe it remains "substantially undervalued."

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Gold, Other Metals Rise; Oil Prices Fall

Posted: 07/22/2009 - Prices for gold and other metals are slightly higher, but other commodities are mixed as investors assess the latest batch of corporate earnings reports.

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