President Barack Obama said Fed Chairman Ben Bernanke is doing a fine job under difficult circumstances but he declined to say whether he will reappoint the chairman in January.
The World Bank has cut its 2009 global growth forecast, saying the world economy will shrink by 2.9 percent and warning about a drop in investment in developing countries.
Americans may have poured money back into stocks this year, but market watchers worry that they aren't spending enough on other things — like clothes, cars and computers.
The inventor of the “Magic Fingers Vibrating Bed,” which brought travelers 15 minutes of “tingling relaxation and ease” for a quarter in hotel rooms across America has died.
Chief executives of some banks that received federal money, including Bank of America Corp. and Morgan Stanley, used company jets for their personal use, the Wall Street Journal reported Friday.
Steve Jobs, the chief executive of Apple Inc., received a liver transplant about two months ago but is expected to return to work later this month, CNBC reported on Saturday.
Texas billionaire R. Allen Stanford, whose sprawling banking empire collapsed this year, was indicted Friday for what prosecutors say is a $7 billion scheme to defraud investors.
The Obama administration's proposed financial regulations now face the same scrutiny, backlash and political infighting that has hampered reforms after a decade of deregulation.
