Economy, Recession | featured news

The rich feel the pain of the recession, too. Sort of. On paper, Augustine Fou would seem to have little to fear. He and his wife earn around $400,000 a year. He has a solid marketing job and a doctorate from the Massachusetts Institute of Technology.

The government reported that gross domestic product shrank at a 6.1 percent annual rate, worse than economists expected, dampening hopes that the slowdown was easing.

Finance chiefs from the G7 powers said on Friday the global economy may be pulling out of the depths of a recession although recovery was not yet assured, and they pledged to make certain big financial firms are sound.

The number of newly laid off U.S. workers filing claims for jobless benefits rose last week and sales of previously owned homes fell in March, data showed on Thursday, indicating the 16-month old recession was far from over.

Overseas aid and loans are one way Beijing is wielding its new role as a global financial leader.

A New York man who killed his wife, two daughters and himself in a Maryland hotel room may have had serious financial problems, police said.

The International Monetary Fund on Wednesday slashed growth forecasts for every major country and urged governments to take forceful action to ensure the world economy's recovery from a severe recession.

Many gun enthusiasts believe President Barack Obama and the Democrats in Congress soon will reimpose a version of an expired federal ban on the sale of so-called assault weapons.

At a time when most retailers are begging for customers, second-hand shops are thriving as the laid-off, and those worried they ...

Her advice: "You can't keep wishing negative events hadn't happened. When a client continuously relives the past, I say, 'Yes, this bad thing is true. But what needs to happen now?'"