Archive for May 21st, 2008

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The Federal Reserve sees worse economic problems ahead, according to new forecasts from the central bank released Wednesday.

Stocks tumbled Wednesday, falling for a second session, after oil prices topped $133 a barrel and the Federal Reserve gave a gloomy economic outlook.

Consumers are too tapped out to lead the economy out of its troubles, according to a report on household credit released Wednesday.

Time Warner is dangling an eye-popping $10.9 billion gift to shareholders as part of its spinoff of Time Warner Cable. But it's a gift that will keep on taking in the form of $10 billion in additional debt and a heavy financing burden shifted to the cable unit.

Read full story for latest details.

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Amid increasing public outcry over record-shattering oil and gas prices, senators hauled company executives in to testify Wednesday to ask what's behind the recent runup.

Maurice "Hank" Greenberg is famous for his combativeness with regulators and opponents. But his mettle is sure to be tested in coming days, as his lawyers make one last pitch to prevent the filing of possible Securities and Exchange Commission charges against him.

Oil prices hit a fourth straight closing record Wednesday - shooting over $133 a barrel - after the government said crude and gasoline stockpiles decreased last week, surprising analysts who were expecting an increase.