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• Jobless claims show recession strikes deep
... economic picture has darkened further, according to a Federal Reserve survey of business conditions around the country released on Wednesday. Americans hunkered down, forcing retailers to ring up fewer sales and factories to cut back on production.
• Iran wants 2 million barrels a day OPEC cut
TEHRAN, Iran - Iranian state TV says the country's Oil Ministry has proposed an OPEC production cut of 2 million barrels per day. The cartel is grappling with how to reverse plunging crude prices, but ended a meeting in Cairo Saturday without ...
• Oil near $52 as OPEC doesn’t cut output
Oil prices fell to near $52 a barrel Monday, a drop of over 4 percent from Friday, after OPEC decided not to cut production at an informal meeting in Cairo on Saturday. By midday in Europe, light, sweet crude for January delivery was down $2.37 to ...
• Bernanke urges more action on foreclosures
Dec. 4: Ford CEO Alan Mulally testifies that Ford is moving toward matching production with demand and expects profitability by 2011, but would like access to a $9 billion government bridge loan as a safeguard. WASHINGTON - Federal Reserve Chairman ...
• Global economic slowdown felt in mining towns
Hundreds of miners in this Southwestern town of 10,000 were notified Wednesday they will soon be out of work as demand for copper and molybdenum — two key materials used in automobile production — has been crippled. Silver City is a prime ...