The Obama administration is hoping to jolt the housing market by promoting a new, $8,000 tax credit for first-time home buyers. Is it enough to get home sales moving again? Janet Babin reports.
American Express is paying some cardholders $300 to cancel their accounts to avoid the risk of more defaults. Is this the beginning of a new trend? Janet Babin reports.
When duty called, chiropractor Daniel Bordelon didn't turn his back. The Army National Guard colonel, who nearly drowned in Hurricane Katrina, gave up his practice at a huge loss to serve in rebuilding New Orleans.
New York Attorney General Andrew Cuomo has subpoenaed Bank of America CEO Kenneth Lewis on an investigation into whether the bank misled investors about bonuses and losses at Merrill Lynch. Janet Babin reports.
The Labor Department reports that the total number of people receiving unemployment is close to 5 million. Janet Babin reports why even when recovery comes — and it will — unemployment numbers will stay high.
The Federal Reserve predicts climbing unemployment and an economy that will continue to contract all year. But Fed Chairman Ben Bernanke says weak economic activity means low risk of inflation. Janet Babin reports.
President Obama's car task force will have to decide whether to honor GM and Chrysler's request for more government bailout money or let the companies fall. Janet Babin explores the automakers' sentimental value.
GM and Chrysler say they need another $14 billion to stay in business. The companies offered survival plans promising draconian cuts in union contracts and other expenses. Janet Babin explores what else will be involved.
Today's the deadline for GM and Chrysler to tell the government how they'll repay taxpayers and become viable again. Janet Babin reports a key to GM's plan is more concessions from its creditors and union workers.
New York fashion week is kicking off, and many designers are fearing their new fall lines will be discounted before the season even begins. Over the holidays many stores slashed prices without telling designers. Janet Babin reports.
