| Business and financial news - CNNMoney.com |
Tough day for stocks
Stocks plunged Monday, with the Dow down as much as 800 points during the session, as the $700 billion bank bailout plan and European government attempts to prop up faltering banks failed to comfort panicky investors.
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Poll: 60% say depression 'likely'
Nearly six out of ten Americans believe another economic depression is likely, according to a poll released Monday.
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Credit squeeze: SBA loans drop 30%
A growing number of businesses are struggling to land loans through the Small Business Administration's flagship lending program. The number of 7(a) loans given in the 2008 fiscal year, which ended Sept. 30, dropped 30% from 2007, the SBA reported last week.
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Star hedge fund crashes to earth
September was the worst month on record for hedge fund performance, but for one legendary player what's going on in the markets now must seem like its coming straight from the gates of hell.
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Oil tumbles to 8-month low below $88
Oil prices tumbled below $88 a barrel Monday, an 8-month low, as banking turmoil in Europe exacerbated fears that a global economic slowdown will crimp demand for oil and gas.
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Bank of America to slash mortgage payments
A plan announced today by Bank of America will be the most aggressive foreclosure prevention effort ever undertaken by a U.S. bank.
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How to buy a car - even now
Auto dealers are hungry for customers: Worried consumers are putting off buying big-ticket items, and buyers on the market are finding it harder to get a loan. So if your credit is solid, now is a great time to say, Let's make a deal.
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3 safe places to stash your cash
With stocks and bonds in turmoil, and the housing market still in the dumps, you're probably wondering: Are there any safe places to stash your money in this market?
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FedEx CEO: 'Economy will come around'
If you're looking for insight into the global economy, Fred Smith is a pretty good place to start. As CEO of Memphis-based package-delivery giant FedEx, he oversees an army of some 290,000 workers who collectively move 7.6 million parcels daily to more than 220 countries.
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BNP Paribas nabs Belgian bank
Read full story for latest details.
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The new Valley Girls
Silicon Valley's next-gen leaders answer this question, and more.
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eBay to trim global workforce by 10%
The world's largest auction Web site, eBay Inc., announced Monday that it will cut 10% of its global workforce, or about 1,000 employees, citing efforts to streamline its business.
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Shares of GE fall to 11-year low
Read full story for latest details.
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FDIC's Bair: Higher limits boost confidence
Read full story for latest details.
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Apple hit by Web rumor
Apple shares fell sharply Friday morning after an erroneous Web report saying founder and CEO Steve Jobs had suffered a heart attack. Shares quickly recovered after it became clear the rumor was not true.
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VCs brace for cash crunch
Harold Bradley manages $2.1 billion for the Kansas City, Mo.-based Ewing Marion Kauffman Foundation. If you are a venture capitalist looking for a new limited partner, he's got something to tell you. "Don't stop in here," he says. "Don't try and sell me on a new fund, and good luck trying with everyone else."
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Apple defeats music rate hike
It looks like Apple won't be closing the iTunes store because of a dispute with music publishers over royalties on downloaded songs.
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What's eating eBay
Ebay shares hit a new five-year low Thursday as yet another analyst weighed in on the nagging deterioration of the auction giant's business.
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The view from Silicon Valley
The heads-down, can-do entrepreneurs, and libertarian-minded financiers who populate the tech industry aren't typically the sorts to long for a government handout. But in the wake of the Treasury Department's $700-billion-plus rescue plan, Peter Thiel speaks for many when he asks a simple question: "What happened to the dot-com bailout?"
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Why Palm needs Google now
The idea that Palm would abandon its own operating system for Google's sounds like sacrilege. But it might be exactly what troubled Palm needs.
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