The Federal Reserve on Wednesday opened the door for GMAC to get federal bailout money by granting the troubled General Motors finance arm status as a bank holding company.
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The final chapter is close to being written on IndyMac, the California thrift that rose high on the risky mortgages that fueled the housing boom before collapsing in the most expensive bank failure in U.S. history.
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Stocks rose Wednesday, ending a holiday-shortened session on a high note, as investors picked through a raft of reports on the economy.
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This Christmas, the titans of the personal-computer industry are finding big lumps of coal in their stockings, and a few are grumbling that it's Intel's fault.
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Falling interest rates are fueling a mortgage refinance frenzy as homeowners rush to reduce their housing payments.
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The movie "Valkyrie" opens Christmas day and it might not be worthy of much mention were it not for the complex plot involving intrigue, betrayal and high stakes. We speak not of the movie itself, of course, but rather the back story of Tom Cruise and United Artists, the mini-studio the mega-star has had ostensive control over since last year.
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Oil prices fell more than $3 a barrel or more than 9% - one of the largest percentage drops ever - on a shortened trading session Wednesday that brought more signs that demand continues to wane.
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After an unusual three-day slide, Treasurys bounced back Wednesday, resuming their nearly uninterrupted upward trend that has persisted since mid-September.
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