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WASHINGTON – Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time. The imbalance is intensifying fears about higher interest rates and inflation, and already pressuring the value of the dollar. There's

By Kevin McCoy, USA TODAY The closely watched Justice Department court fight to get the names of 52,000 suspected American tax evaders from Swiss banking giant UBS has prompted some other foreign banks to drop U.S. clients they once welcomed, tax

Mineweb - GOLD NEWS - U.S. Mint gold, silver coin sales `temporarily suspended` - again "Sales and suspension of gold and silver coin or bullion coin sales by the U.S. Mint are becoming a regular part of doing business as overloaded refiners and mint

Verleger Sees $20 Oil This Year on ?Devastating? Glut (Update1) - Bloomberg.com July 16 (Bloomberg) -- Crude oil will collapse to $20 a barrel this year as the recession takes a deeper toll on fuel demand, according to academic and former U.S

June 24 (Bloomberg) -- The European Central Bank said it will lend banks 442 billion euros ($621 billion) for 12 months, the most it has ever allotted in an auction, as it steps up efforts to unblock credit markets in the 16-nation euro region. The

Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm's 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail

Utah's jobless benefit reserves still solvent - Salt Lake Tribune Utah's jobless benefit reserves still solvent Recession » Rising unemployment claims could force tax hikes for employers. By Tony Semerad The Salt Lake Tribune Updated: 06/17/2009

June 22 (Bloomberg) -- Intel Corp., the world’s largest chipmaker, will supply Nokia Oyj with chips for mobile devices, the company’s first major breakthrough in its effort to enter the phone market, a person familiar with the matter

Eurozone banks face additional losses of more than $283bn this year and next as continental Europe’s severe recession intensifies strains on its financial sector, the European Central Bank has warned. The fates of the eurozone economy and its

NEW YORK -- Morgan Stanley is expected to repay its government bailout money on Wednesday, according to a person familiar with the talks between the bank and the government. The investment bank will return all of the $10 billion in loans it received

TOKYO (Kyodo)--The government on Wednesday upgraded its assessment of the Japanese economy for the second month in a row and deleted the phrase meaning deterioration from its report for the first time in seven months, citing signs of recovery in

Wells Fargo & Co. and Bank of America Corp. agreed Monday to settle claims that employees misled investors about the value and safety of certain securities during the financial crisis. Wells's Boston-based mutual fund Evergreen Investment Management

LUXEMBOURG -- The European Central Bank expects further financial-sector weakness could help keep the euro-zone economy from expanding before the middle of next year, a top policy maker said in an interview. ECB officials believe the euro-zone

WASHINGTON -- U.S. House lawmakers on Tuesday said they would file a subpoena to compel the Federal Reserve to turn over internal notes and emails detailing the central bank's role in encouraging Bank of America Corp. to complete its acquisition of

Post-Lehman World Will Mean W-Shaped Recoveries: William Pesek - Bloomberg.com June 11 (Bloomberg) -- You can see it in the body language when speaking with Japanese officials. It’s a kind of physical resignation that, well, here we go again

June 4 (Bloomberg) -- U.K. house prices unexpectedly jumped in May by the most since 2002, adding to signs the worst of the recession is over, a report by Halifax showed. Home values rose 2.6 percent from the previous month to an average of 158,565

WASHINGTON -- The Securities and Exchange Commission needs to take further steps to crack down on "naked" short selling, U.S. lawmakers said Wednesday, after government auditors recommended more aggressive action to prevent market manipulation. In a

Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would move some employees offshore if Congress enacts President Barack Obama’s plans to impose higher taxes on U.S. companies’ foreign

Borrowers with good credit fuel foreclosures in 1Q - Yahoo! Finance 12 pct. are behind on mortgage or in foreclosure Delinquencies and foreclosures set record in 1st quarter, driven by prime loan defaults NEW YORK (AP) -- An industry report shows

The Nikkei estimates that Japan passenger car production in fiscal 2009 will likely decrease to 1979 levels, mostly due to a plunge in exports. The projection, which was compiled based on automakers’ data and interviews with company officials