Economy Oct 03 Employers Slash 159,000 Jobs in September Employers cut payrolls by 159,000 in September, the most in more than five years, the Labor Department reported Friday, raising new fears that the economy has lost its footing and is sliding into a recession.
Economy Oct 02 House Leaders Count Votes, Target GOP Holdouts in Attempt to Pass Rescue Package The Treasury Department's plan to buy bad mortgage-related securities returns to the House Friday, as lawmakers lobby their own party members and hope tax cuts and financial rule changes will convince holdout Republicans to vote yes.
Economy Oct 01 Senate Approves Massive Financial Rescue Plan; House May Vote Friday With bipartisan support, the Senate easily approved a massive federal rescue plan aimed at stabilizing the economy and freeing up the crippled credit market Wednesday night. The vote was 74-25.
Economy Sep 30 President Urges Congress to Take ‘Decisive Action’ on Bailout Stocks opened higher Tuesday morning, but financial markets remained troubled a day after the House voted down a $700 billion rescue plan for the financial sector that the Bush administration and congressional leaders had agreed was necessary.
Economy Sep 29 House Rejects $700 Billion Bailout; Stocks Plummet The House on Monday defeated a $700 billion emergency rescue package, ignoring pleas from President Bush and bipartisan congressional leaders to bail out the financial industry, while the Dow Jones industrial average lost more than 700 points.
Economy Sep 29 In Latest Shake-Up, Citigroup to Acquire Wachovia In the latest shake-up of the widening global financial crisis, Citigroup will acquire the banking operations of Wachovia Corp.
Politics Sep 26 Bush Struggles to Unite Rebelling House Republicans on Bailout As Washington struggles to reach consensus on a proposed Wall Street bailout, GOP senators have blocked a proposed Democratic plan to pump $56 billion into public works projects, help for the jobless and to help states with high Medicaid bills.
World Sep 26 Nations Agree to Draft Resolution on Iran Nuclear Program Six nations have agreed on a draft U.N. resolution on Iran's nuclear program, but it does not include new sanctions, per Russia's preference, European officials said Friday.
Politics Sep 25 Wash. Governor’s Race Heading for Another Close Finish The rematch for the governor's office in Washington between Democratic Gov. Chris Gregoire and Republican challenger Dino Rossi is turning out to be very, very close -- again. Just weeks before Election Day, polls show the candidates virtually tied.
Economy Sep 25 Lawmakers Work to Hammer Out Deal on Financial Bailout Lawmakers reported making progress Thursday on reaching an agreement on a sweeping financial bailout plan, which has stirred days of debate over how to better safeguard taxpayers as Wall Street continues its tailspin.