Economic Crisis | featured news

United Technologies Corp cut its 2009 profit target by about 13 percent and said it would eliminate 11,600 jobs as it no longer anticipates an economic recovery this year.

In the global descent into recession, Japan continues to lead the way.

Warren Buffett said on Monday the U.S. economy had "fallen off a cliff" but would eventually recover, although a rebound could kindle inflation worse than that experienced in the late 1970s.

The practice gives workers some security but, over time, employee morale still suffers.

Developing nations face budget shortfalls of up to $700B in 2009 due to global financial crisis.

NEW YORK - With ''no end in sight'' for U.S. job losses amid a recession that could stretch into 2010, American workers will soon have to contend with another blow to their confidence: stagnant, or even falling wages. Lower wages, in turn, could further erode the outlook for the U.S. economy by hurting consumers' spending power.

As the dreadful economic news piles up, President Barack Obama challenged the nation Saturday to not just hang in there but rather ...

Film News: 2009 releases earning big, but why? -- Domestic B.O. for January and February was up 13%. Admissions rose nearly 10%. With a slew of high-profile projects set to open in the next two months, Hollywood hopes to maintain this torrid pace.

The nation's unemployment rate rose to 8.1% in February, the Labor Department reported this morning, adding another grim indicator to an economic picture already darkened this week. The jobless rate stood at its highest point since 1983.

Facing a historic economic crisis, two wars and countless other pressures, President Obama's hair appears to be going grayer by the day -- and hes only been on the job for 44 of them.