Economic Crisis | featured news

Factory activity contracted at a slower pace in January, data showed on Monday, providing a rare dose of good news for the battered economy, but other reports pointed to a deepening of the recession.

Senior Republican senators warned on Sunday their party was unlikely to back President Barack Obama's economic stimulus bill without changes to cut waste and to ensure the nearly $900 billion package promptly boosts the faltering U.S. economy.

Most Republican governors have broken with their GOP colleagues in Congress and are pushing for passage of President Barack ...

President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again."

A requirement that most stimulus-funded projects use only U.S.-made gear and goods is shortsighted, knee-jerk protectionism.

Gannett Co., the largest US newspaper publisher, said fourth-quarter profit fell 36 percent on faltering advertising sales and expenses to cut jobs.

The economy shrank at its fastest pace in nearly 27 years in the fourth quarter, government data showed on Friday, sinking deeper into recession as consumers and business cut spending.

Japanese electronics giant NEC Corp. said it will cut 20,000 workers worldwide as it tries to stanch widening losses from semiconductors and other businesses that have been hard hit by competition and the global economic slump.

Mayor Bloomberg's bare-bones budget for next year slashes the city work force by 23,000 but won't hit homeowners with higher taxes, officials revealed Thursday.

The government says the number of people receiving unemployment benefits has reached an all-time high as layoffs spread throughout the economy.