Economic Crisis | featured news

President Barack Obama's top economic adviser would not rule out on Sunday that more money may be needed to stabilize the financial system as a deep recession increases banks' losses.

Iceland's Minister of Business Affairs Bjorgvin Sigurdsson resigned Sunday, three months after the collapse of several of the country's leading banks and its stock market.

Investors this week will face a large batch of company report cards, in what is shaping up to be the worst quarter for corporate profits in a decade, CNNMoney reports. Investors will also digest reports on housing, consumer confidence and leading economic indicators.

League unsure about how deeply the U.S.'s financial woes will affect a sport that has been a benchmark for popularity and prosperity.

President Barack Obama painted a bleak economic picture of the country on Saturday, hours before he is to meet with his economic team.

The FDIC announced 1st Centennial Bank of California was closed by the California Department of Financial Institutions.

President Obama said today that efforts to pass a massive new economic stimulus package by mid-February are "on target," despite Republican lawmakers' objections to some elements of the plan.

The U.S. conglomerate and economic bellwether closes out one of the toughest years in its 117-year history.

In a symbolic gesture of dissatisfaction with the government's attempts to stabilize the financial system, the U.S. House of Representatives voted 270-155 on Thursday against releasing a second allotment of $350 billion to the Troubled Asset Relief Program, or TARP.

John A. Thain, the former chief executive of Merrill Lynch, resigned after Bank of America suffered unexpected losses stemming from its acquisition of the giant brokerage.