Patrice Hill

China stimulus hurts U.S. credit markets

China has finally answered calls from the United States to stimulate its economy through increased spending, but its decision will come with a cost.

November 13, 2008

Bailout widened to consumer lenders

Treasury Secretary Henry M. Paulson Jr. on Wednesday announced another major change in the $700 billion bailout program, saying he will use the funds to aid consumer finance companies that are not banks to try to revive collapsed markets for auto loans, student loans and credit cards.

November 13, 2008

Bailout funds will spur auto, credit card lending

Treasury Secretary Henry M. Paulson Wednesday morning signalled another major change in the bailout program, saying the funds will be used to aid non-bank consumer finance companies in reviving some collapsed markets.

November 12, 2008

AIG gets Treasury cash infusion

The Treasury Department provided American International Group Monday morning with a $40 billion cash infusion in exchange for preferred stock as part of a restructuring of the giant insurer's September rescue package.

November 10, 2008

Election opens door for a new economic era

The economic crisis and a sea-change election gives Barack Obama a chance to transform the economy in ways not seen in a generation, many analysts say.

November 10, 2008

Unemployment leaps to 14-year high

The unemployment rate last month soared to 6.5 percent, a 14-year high, as businesses slashed nearly a quarter million jobs, the Labor Department reported this morning.

November 7, 2008

‘Awful’ retail month triggers losses

The worst month for retailers in 35 years triggered another plunge on Wall Street on Thursday, with the Dow Jones Industrial Average plummeting nearly 450 points to complete a two-day loss of nearly 1,000 points -- the biggest since 1987.

November 7, 2008

Bad retail month triggers Dow plummet

The worst month for retailers in 35 years triggered another plunge on Wall Street today, with the Dow Jones Industrial Average plummeting nearly 450 points to complete a nearly 1,000 point loss in the last two days -- the biggest since 1987.

November 6, 2008

Dow takes post-election plunge

Signs that the economy is rapidly deteriorating put an end to celebrating over the presidential election in the stock market Wednesday, sending the Dow Jones Industrial Average plunging nearly 500 points.

November 6, 2008

Economy won’t wait for Obama

While President-elect Barack Obama might like to sit back and bask in his victory for a few days, the quickly unraveling economy won't let him relax for long, analysts say.

November 6, 2008

Dow falls nearly 500 points

Signs that the economy is rapidly deteriorating put an end to celebrating over the presidential election in the stock market Wednesday, sending the Dow Jones Industrial Average plunging nearly 500 points.

November 5, 2008

Banks increase lending for range of customers

Attention members of Congress: U.S. banks are not hoarding their cash but have substantially increased lending in the past month to businesses, homeowners, the federal government and even the struggling auto sector.

November 4, 2008

Consumers signal bad recession

Consumers this summer pulled back on spending by the most since 1980, driving the economy into what analysts expect to be one of the nastiest recessions in decades.

October 31, 2008

Summer slump points to U.S. recession

The economy slumped by 0.3 percent in the summer quarter led by a rare 3.1 percent fall in consumer spending, the biggest since 1980, leaving little doubt that the United States is in recession.

October 30, 2008

Fed tries to rescue automakers

The Federal Reserve on Wednesday agreed to extend short-term loans to the finance arms of Detroit's Big Three automakers while it slashed interest rates by another half percentage point to try to prop up the rapidly sinking economy.

October 30, 2008

Fed offers loans to Big Three automakers

The Federal Reserve Wednesday slashed interest rates by another half percentage point to try to prop up the economy while it agreed to extend short-term loans to the finance arms of all of Detroit's Big Three automakers.

October 29, 2008

Fed cuts key interest rate half-point to 1 percent

UPDATED: The Federal Reserve cut interest rates by another half percentage point to try to prop up consumer spending while it agreed to extend short-term loans to the finance arms of all of Detroit's Big Three automakers.

October 29, 2008

Fed cuts rate another half point

The Federal Reserve this afternoon slashed interest rates by another half percentage point, citing a sharp downturn in the economy led by fearful consumers pulling back on spending.

October 29, 2008

Stock bargains drive Dow up 889 points

Investors ignored a record collapse in consumer confidence and went bargain shopping Tuesday on Wall Street, sending the Dow Jones Industrial Average soaring 889 points, or nearly 11 percent in its second largest gain.

October 29, 2008

Free fall at the pump eases worries on living costs

Concern about high gasoline prices and the rising cost of living have melted away in recent weeks as a free fall in oil prices brought relief at the pump, dropping from more than $4 a gallon to well under $3.

October 27, 2008