President Bush named Wall Street investment banker Stephen Friedman on Thursday as the new White House senior economic adviser, charged with helping promote the president's new stimulus package and coordinating the nation's economic policy.
President Bush on Monday nominated CSX Chairman John W. Snow to replace outgoing Treasury Secretary Paul O'Neill and to help build support for his upcoming economic stimulus package.
United Airlines filed for bankruptcy Monday, after high costs and low airfares left the world's second-largest carrier with too much debt and not enough cash.
Treasury Secretary Paul O'Neill and White House senior economic adviser Larry Lindsey submitted their resignations Friday as administration officials began a reshuffling of President Bush's financial team.
United Airlines' stock fell by two-thirds and its credit rating was downgraded Thursday as the company faced bankruptcy after losing a bid for a government-backed loan guarantee.
The U.S. economy grew by a higher-than-expected 4 percent annual rate last quarter and consumer confidence ended its five-month slide, according to new numbers released on Tuesday.
The Federal Communications Commission on Wednesday gave the green light to Comcast Corp.'s proposed buyout of AT&T Broadband, paving the way for the creation of the largest cable and Internet provider in the country.
Former FBI and CIA director William Webster submitted his resignation as chairman of a new board set up to reform the scandal-tainted accounting industry, according to a letter released to the press.
Securities and Exchange Commission Chairman Harvey Pitt resigned late Tuesday night, citing the continuing political turmoil surrounding his chairmanship as a reason for his departure.
In a bid to help jump-start the U.S. economy, the Federal Open Market Committee Wednesday unanimously decided on a half-point cut in the federal funds rate.
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