Archive for October, 2008

Stocks rallied Friday, capping off a strong week at the end of one of the worst months in Wall Street history.

Growth in online spending in the U.S. slowed in the third quarter, according to a study released Friday, in yet another sign that the economic slowdown has caused the American consumers to pull back.

JP Morgan Chase unveiled a bold new foreclosure prevention program Friday.

Oil prices staged a late-session rally Friday as credit markets loosened, but the gain only slightly tempered a month in which crude fell by the largest monthly percentage since the Nymex contracts began trading.

EMI, one of the world's largest record companies, is considering turning over its distribution, sales and marketing operations in the United States to a rival in an attempt to cut its extensive losses, music industry sources said Friday.

As General Motors struggles to sell cars, one repeated bit of advice is that it needs to shed some brands -- especially if it joins forces with Chrysler. But there's one big roadblock in the way -- the dealers who sell those cars.

Private-equity and hedge-fund manager Fortress Investment Group made a highly-publicized bet several months ago that it could call the bottom on the battered mortgage-backed securities market.

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With unemployment rising and employers lowering their hiring expectations, soon-to-be-graduates are facing the worst job market in years.