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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: credit crisis

credit crisis stories: 354 news summaries

81 - 100 of 354 Stories | << Prev 1 2 3 4 5 6 7 8 9 ... 18 Next >>

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Cash-Strapped Shoppers Remember Layaway

No-interest credit appeals to consumers

Nov 10, 08 1:59 PM CST
(Newser) - With consumers strapped and credit short, retailers are reviving an older kind of financing: layaway. Although the arrangement was considered obsolete when Wal-Mart closed its layaway department in 2006, retailers such as TJ Maxx, Goody’s, Marshalls and the Burlington Coat Factory have moved to offer the service, especially as... More »

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retail • credit • credit crisis • retail sales • holiday shopping • Kmart • Wal-Mart • T.J. Maxx • financial crisis • layaway

 Fed Won't Say 
 Where $2T 
 in Loans Went 

Money is in addition to $700B Wall St. bailout; collateral unclear, too

Nov 10, 08 12:54 PM CST
(Newser) - The Federal Reserve has lent more than $2 trillion to financial institutions under programs without congressional oversight—and will not disclose to whom or under what terms, Bloomberg reports. The loans are separate from the $700 billion congressionally approved bailout package. Investors and citizens are concerned that the collateral given... More »

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Ben Bernanke • Wall Street • Federal Reserve • Freedom of Information Act • lawsuit • credit crisis • bailout • financial crisis

UPDATED

 No Quick Fix 
 on Economy: Obama 

US 'strong and resilient,' president-elect says at first news conference

Nov 7, 08 2:39 PM CST
(Newser) - Barack Obama addressed the nation today for the first time since his presidential victory, focusing his remarks on the economy, the New York Times reports. “It is not going to be quick and it’s not going to be easy for us to dig ourselves out of the hole... More »

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Barack Obama • press conference • credit crisis • Election 2008 • economy • President Obama

Credit Crisis 'Froze' Inflation: Dallas Fed Chief

Nevertheless, US is 'navigating the mother of all financial storms'

Nov 4, 08 1:46 PM CST
(Newser) - The credit crisis has had at least one unintended positive effect, stopping a growing threat of inflation, Bloomberg reports. Dallas Fed president Richard Fisher said “inflationary momentum froze in its tracks” as the credit market did the same, but otherwise had a poor view of the economy. “I... More »

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inflation • Federal Reserve • Dallas • credit crisis • economy • financial crisis • Richard Fisher

 For Wealthy, 
 It's Cool to Be Cheap 

Twin concerns drive new consumer psyche

Nov 4, 08 10:43 AM CST
(Newser) - Affluent Americans are folding up the Gucci sunglasses and trying green living's thriftier practices on for size, a response to environmental and economic concerns that's sure to dampen spending for the duration of the recession, the Wall Street Journal reports. "People aren't shopping to feel better," said one... More »

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consumer spending • luxury goods • credit crisis • consumer psychology • green revolution • financial crisis

 US May Buy 
 Equity in 
 More Firms 

After seeing some thawing in key credit markets, Treasury may expand program

Nov 4, 08 8:21 AM CST
(Newser) - Treasury is considering using some of the $700 billion at its disposal to buy stakes in a range of financial companies beyond banks, the Wall Street Journal reports. The idea comes after seeing measured success in thawing credit markets by taking equity stakes in several banks. Treasury may also abandon... More »

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Henry Paulson • Treasury Department • credit crisis • mortgage backed securities • Election 2008 • bailout • financial crisis • financial meltdown

Credit Crisis Spells Disaster for Private Equity Firms

Debt tightens as profits fall for many acquired companies

Nov 3, 08 11:30 AM CST
(Newser) - After a nearly 3-year buyout spree, private equity firms are facing tightened credit conditions just as slumping consumer spending squeezes many of their acquisitions, the New York Times reports. The leveraged-buyout bubble that culminated in $796 billion in deals in 2007 is bursting, leading to a grim reckoning as firms... More »

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private equity • leveraged buyouts • debt • buyout • credit crisis • private equity firms • financial crisis

 Sorry, Bono: 
 Economy 
 Shelves 
 U2 Tower 

Tallest building in Ireland would house band's studio

Nov 1, 08 2:20 PM CDT
(Newser) - Not even Bono is immune to the gloomy economy. Plans for a record-breaking Dublin skyscraper partly financed by the band U2 are on hold thanks to the global crisis, AFP reports. The U2 Tower, designed by architect Norman Foster, would be the tallest in Ireland and house a studio for... More »

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architecture • Bono • Ireland • Dublin • credit crisis • Norman Foster

MGM Delays New Casinos
for Vegas, Atlantic City

After credit downgrade, firm reports 67% decline in quarterly net income

Oct 29, 08 3:03 PM CDT
(Newser) - MGM Mirage will suspend work on new casinos in Las Vegas and Atlantic City due to the dismal credit climate, the Wall Street Journal reports. The firm reported a 67% drop in third-quarter net income as the slumping economy quells consumers’ desire to gamble or spend at casino restaurants and... More »

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Atlantic City • gambling • Las Vegas • MGM Mirage • profits • casino • credit crisis • net income

 Fed Rate Cut to 1% Expected 

With Inflation fears fading, 'the issue now is how bad the recession will be'

Oct 29, 08 8:44 AM CDT
(Newser) - Worries about inflation are taking a backseat to recession fears as the Federal Reserve today is likely to lower its benchmark rate another half-point to 1%, with the possibility it could go to zero by June if the economy doesn’t rebound, reports Bloomberg. “The issue now is how... More »

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Ben Bernanke • Federal Reserve • credit crisis • prime rate • financial crisis

As Investors Seek Cover, Central Banks Slash Rates

Seeking to loosen credit, central banks plan another round of cuts

Oct 28, 08 10:30 AM CDT
(Newser) - Central banks worldwide are slashing interest rates, attempting to stem the bleeding in financial markets as investors dump holdings, credit remains tight, and currencies spasm in value, the Washington Post reports. The Federal Reserve is set to cut rates for the second time in as many weeks tomorrow, while the... More »

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currency exchange • financial markets • yen • credit crisis • economic stimulus package • interest rate cut • financial crisis • financial meltdown

 Gas Prices in Record Fall 

Gas drops 53 cents in two weeks

Oct 27, 08 3:35 AM CDT
(Newser) - Gasoline prices have dropped 53 cents in the last two weeks, the steepest decline ever, according to the nationwide Lundberg Survey. The national average price for a gallon of regular unleaded is $2.78, Reuters reports. Wichita, Kansas, has the cheapest gasoline, at $2.26 a gallon, and San... More »

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credit crisis • economy • Lundberg Survey • oil prices • gasoline prices

Financing Deals Make AIG
a Drag on Transit Agencies

With AIG sinking, banks are calling loans to transit agencies

Oct 24, 08 2:55 PM CDT
(Newser) - Transit agencies nationwide are facing the prospect of unexpectedly having to repay billions in loans to large banks under financing deals made years ago, the Washington Post reports. Because AIG guaranteed many of the agreements, the insurance behemoth's woes could potentially affect millions of public transit riders as banks worldwide... More »

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AIG • credit crisis • Washington Metro • MTA • public transit • financial meltdown

 Goldman Sachs to Cut Staff 10% 

Restructuring bank will trim 3,000 employees

Oct 23, 08 7:39 AM CDT
(Newser) - Goldman Sachs will cut almost 3,300 jobs, or about 10% of the bank's total staff, an insider told Reuters today. Although Goldman has weathered the credit crisis better than its competitors, its transition from an investment bank to a traditional enterprise means that it will have to obey stricter... More »

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layoffs • Goldman Sachs • credit crisis • shrinking workforce • downsizing • financial crisis

OPINION

Starbucks Helped Brew Meltdown—Just Check a Map

Coffee empire's rise tracked (and fueled) housing's, and store locator mirrors trouble spots

Oct 21, 08 3:48 PM CDT
(Newser) - A simple tool could hold the key to predicting where the financial crisis will strike next, Daniel Gross writes on Slate: Starbucks’ Internet store locator. “Having a significant Starbucks presence is a pretty significant indicator of the degree of connectedness to the form of highly caffeinated, free-spending capitalism that... More »

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Starbucks • globalization • global economy • credit crisis • chain stores • financial crisis • financial meltdown • Daniel Gross

China Blames Crisis in Latest GDP Slide

Growth at solid 9%, but down for 5th quarter in row as exports shrink

Oct 21, 08 1:27 PM CDT
(Newser) - The dragon isn’t sick yet, but it’s definitely catching cold: China’s gross domestic product grew by an enviable 9% in the third quarter, but still failed to match last quarter’s result of 10.1%, the Guardian reports. The data mark the first time China’s GDP... More »

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China • GDP • Chinese economy • Chinese toys • credit crisis • financial crisis • financial meltdown • Chinese exports

Chrysler Flirts With Nissan- Renault as GM Seeks Credit

Alliance would keep Detroit automaker intact, but expose Cerberus to more risk

Oct 21, 08 10:21 AM CDT
(Newser) - Chrysler is considering joining Nissan-Renault, adding a North American arm to the Japanese-French auto alliance that could rescue Chrysler’s operations, the Wall Street Journal reports. Cerberus, Chrysler’s majority owner, prefers a merger with General Motors, but overlap with a Detroit competitor would likely eliminate half of Chrysler’s... More »

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Chrysler • Cerberus Capital Management • General Motors • Detroit • mergers and acquisitions • credit crisis • auto industry • financial crisis • Nissan-Renault • Carlos Ghosn

 Credit Woes Stall GM's 
 Effort to Buy Chrysler 

A tight credit market is making it tougher for GM to scrape cash together for offer

Oct 20, 08 6:59 AM CDT
(Newser) - A tight credit market and wary investors are slowing GM’s attempts to buy rival Chrysler, and experts say the companies may turn to the US government, arguing that a deal between the two is needed to save the US auto industry, reports the Wall Street Journal. But sources... More »

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Chrysler • General Motors • credit crisis • auto industry • financial crisis

Cash-Strapped Circuit City Looks to Close 150 Stores

Struggling to avoid a holiday season bankruptcy, retailer weighs options

Oct 20, 08 6:15 AM CDT
(Newser) - Cash-strapped Circuit City may shutter more than 10% of its nearly 1,500 stores in North America and eliminate thousands of jobs, reports the Wall Street Journal. The company is considering the plan as a way to avoid a holiday season bankruptcy filing, which could leave customers wary of the... More »

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retail • bankruptcy • credit crisis • Circuit City • financial crisis

 Economy
 Trumps Race 
 Even for
 Some Racists 

Voters openly negative on African Americans

Oct 18, 08 12:31 PM CDT
(Newser) - It looks like the economic crisis has gained Barack Obama a surprising number of supporters among those who might be considered racists, Politico reports. Even before the events of the past few weeks bolstered the Dem's numbers, a poll showed that a quarter of respondents who expressed negative views of... More »

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Barack Obama • racism • credit crisis • racist • Election 2008 • white voters • financial crisis

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