Economic Crisis, Recession | featured news

Six people were killed — including four children — after a shooting at a home in an upscale California neighborhood, police said on Monday.

It's what you do when you get there that counts.

The U.S. economy shrank at its fastest pace since 1982 in the fourth quarter and corporate profits plunged a record $120.1 billion, pulled down by falling consumer spending and exports, government data showed on Thursday.

Predictions have the major emerging markets—Brazil, Russia, India and China, a.k.a. the BRICs—overtaking the combined GDP of the G7 nations by 2027, nearly a decade sooner than the forecast in a landmark study a few years back.

New orders for long-lasting U.S. made goods rose in February for the first time in seven months and new home sales rebounded, government reports showed on Wednesday, suggesting the economic downturn might be easing a bit.

President Barack Obama said on Tuesday his administration was confronting the economic crisis on all fronts and seeing signs of progress as he sought to reassure recession-weary Americans about his recovery strategy.

A group of financial wizards looked into their crystal ball Tuesday and saw some good news.

Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession hit-economy.

Pension trustees and insurance company portfolio managers look away now. Your increased commitment to government bond holdings in recent times is about to blow up spectacularly. At least, that is the view of Ron Paul, the US congressman who ran against John McCain in last year’s Republican Party presidential nomination.

Investors were buoyed by comments on the US economy from the Federal Reserve chairman Ben Bernanke and sent stocks mostly higher Monday.