Accounting board adopts guidance to ease crisis Comments NORWALK, Conn. - The standard-setting board for corporate accounting adopted new guidance on Friday that will give banks a break in the distressed market ...

President George W. Bush said Friday the U.S. government's financial rescue plan was aggressive and big enough to work, but would take time to fully kick in.

In this Oct. 3, 2008 file photo, an oil pump seen in the desert area of Sakhir, Bahrain, in the Persian Gulf.

The credit markets might not be quite as squeezed as they have been recently, thanks to the Federal Reserve's interest rate cut.

Finance Minister Jim Flaherty says an upcoming emergency meeting in the U.S. capital with his counterparts from other countries will be critical in heading off further damage to the world's credit markets and ...

Map shows states with a general fund budget gap for the current fiscal year; With the economy in a slide and the credit markets seized up, states are slashing budgets, eliminating jobs, putting major ...

New applications for unemployment benefits dropped last week from a seven-year high, the Labor Department said Thursday, though they remain at elevated levels that indicate recession.

House prices have fallen by a record 13.3 per cent in the last year, an influential index reported on Thursday.

Will U.S. consumers benefit from the interest rate cuts announced Wednesday by the Federal Reserve and several other countries' central banks? For most people, probably not much, at least for a while.

Watch out world: Paris Hilton is continuing her bid for the White House. The paparazzi darling and reality TV star touted her candidacy in a video on FunnyOrDie.com Wednesday _ her second appearance in a ...

Democrat Barack Obama's campaign criticized John McCain's mortgage bailout plan Wednesday, saying it would cause the government to lose money by paying too much for bad loans.

Two of Canada's biggest banks have declined to pass on to consumers the full half percentage point cut in interest rates announced by central banks around the world Wednesday, citing turmoil in raising money in ...

The world economy will slow sharply this year and next, with the United States likely sliding into recession reflecting mounting damage from the most dangerous financial jolt in more than a half-century. The ...

Governors and business lobbyists pressured lawmakers Wednesday to pass a $700 billion financial industry bailout as top lawmakers prepared for another face-off on the issue -- this time in the Senate.

Lawmakers criticized American International Group Inc on Tuesday for ignoring financial warnings and for lavish spending, including an executive retreat just days after getting an $85 billion rescue loan.

Troubled bank Halifax Bank of Scotland has agreed to sell its Australian banking business for 1.2 billion in a bid to boost its balance sheet.

The federal budget deficit hit a new record in the just-completed 2008 budget year under the latest estimates from the Congressional Budget Office.

Federal Reserve Chairman Ben Bernanke warned Tuesday that the financial crisis has not only darkened the country's current economic performance but also could prolong the pain.

With panic tightening its grip on investors here and abroad, pressure was growing on the United States Tuesday to take further aggressive steps to stem the economic crisis and swiftly implement a $700 billion ...

Behind in the polls, Republican John McCain on Monday called Democratic rival Barack Obama a liar as he leveled his harshest criticism yet, and said the campaign boils down to one basic question: Who is Obama ...