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A collection of news and information related to Economy published by Tribune Company sources.
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Bernanke: More economic pain ahead
The Associated PressFederal Reserve Chairman Ben Bernanke warned Tuesday that the financial crisis has not only darkened the country's current economic performance but also could prolong the pain. The Fed chief's more gloomy assessment appeared to open the door wider to...Tags: Credit and Debt, Ben Bernanke, George Bush, Federal Reserve, Financial Markets
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Gold prices rise near $900 as financial worries spur safe-haven buying; crude rebounds
AP Business WriterNEW YORK (AP) _ Gold prices kept rising Tuesday, approaching $900 an ounce after another day of turmoil in financial markets encouraged buying of safe-haven assets. Silver also rose. Investors remained skittish even after the Federal Reserve announced it...Tags: Petroleum Industry, Chicago Board of Trade, Ben Bernanke, Federal Reserve, Commodity Markets
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Iceland on the brink of being the 1st national bankruptcy of global economic meltdown
AP Business WriterREYKJAVIK, Iceland (AP) _ This volcanic island near the Arctic Circle is on the brink of becoming the first "national bankruptcy" of the global financial meltdown. Home to just 320,000 people on a territory the size of Kentucky, Iceland has formidable...Tags: Toy Industry, Toys, Stocks, Financially Distressed Companies, Bobby Fischer
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Oil prices rebound back above $90 a barrel after recession fears plunge prices to 8-month low
AP Business WriterNEW YORK (AP) _ Oil prices swung higher Tuesday, snapping a four-day plunge as investors temporarily halted their frantic selling to see whether the government's sweeping economic bailout can stem a widening global downturn. Light, sweet crude for...Tags: Stocks, Commodity Markets, Stock Activities, Wright Express Corporation, Petroleum Industry
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Wall Street retreats as concerns about financials overshadow Fed plan to buy corporate debt
AP Business WriterNEW YORK (AP) _ The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the...Tags: Stocks, Commodity Markets, Gold and Precious Material, Bank of America Corp., Morgan Stanley Dean Witter & Company
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Bernanke: US may be facing prolonged period of economic pain; door opens wider to rate cut
AP Economics WriterWASHINGTON (AP) _ Federal Reserve Chairman Ben Bernanke warned Tuesday that the financial crisis has not only darkened the country's current economic performance but also could prolong the pain. The Fed chief's more gloomy assessment appeared to open the...Tags: Prices, Credit and Debt, Inflation and Deflation, Ben Bernanke, Energy
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Fed to buy massive amounts of short-term debt
AP Economics WriterThe Federal Reserve moved swiftly to break through a credit clog that is imperiling the economy, saying Tuesday it would buy massive amounts of short-term debt and hinting that it may cut interest rates. Fed Chairman Ben Bernanke warned that the...Tags: U.S. Department of Treasury, Personal Finance, The White House, Heads of State, Stocks
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Market plunges again Tuesday
The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial sector....Tags: Interest Rate, Stocks, Commodity Markets, Gold and Precious Material, Bank of America Corp.
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Government warns of sharp increase in winter heating costs, especially for homes using oil
Associated Press WriterWASHINGTON (AP) _ Heating U.S. homes with oil this winter will cost a painful $450 more than a year ago, another slap to families already reeling from high gasoline and food costs and fearful of losing their heat because of unpaid bills. Gas, propane and...Tags: Commodity Markets, Petroleum Industry, Natural Gas, Energy Resources, Natural Resources
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Fed makes emergency move to lend directly to companies; Bernanke hints at rate cuts soon
AP Economics WriterWASHINGTON (AP) _ Frantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step Tuesday to get cash directly to businesses and hinted that interest rates could come down soon. Stocks continued their free fall anyway...Tags: Barack Obama, U.S. Department of Treasury, The White House, Stocks, Financial Markets
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Budget deficit: Record $438 billion
The Swampby Mark Silva For the record, the federal budget defict reached a new record in the 2008 budget year, which ended last week: $438 billion. For the new year, the president's Office of Management and Budget already has projected another......Tags: Government Debt, $700 Billion Bank Bailout, National Government, Government, Budgets and Budgeting
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Oil drops below $90 a barrel
Associated PressOil prices plunged below $90 a barrel yesterday, coming within reach of year-ago levels as a widening financial storm spreads overseas and crimps global demand for energy. A barrel of oil has not been this cheap in eight months, suggesting that the...Tags: Petroleum Industry, AAA, Wright Express Corporation, Energy Saving, Commodity Markets
Oct 7, 2008
|Story| Associated Press
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|Story| Associated Press
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|Story| Chicago Tribune
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|Story| Newsday
Oct 7, 2008
|Story| Associated Press
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|Story| Associated Press
Oct 7, 2008
|Blog| Chicago Tribune
Oct 7, 2008
|Story| Baltimore Sun
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