DETROIT – General Motors Corp. lost $6 billion in the first quarter and its revenue was cut nearly in half as car buyers feared the wounded auto giant would enter bankruptcy and no longer honor its warranties.
The Detroit-based company also said it spent $10.2 billion more cash than it took in from January through March, mainly because revenue dropped by a staggering $20 billion, or 47 percent.
New jobless claims unexpectedly plunge to 601K
WASHINGTON - New applications for jobless benefits plunged to the lowest level in 14 weeks, a possible sign that the massive wave of layoffs has peaked. Still, the number of unemployed workers getting benefits climbed to a new record.
WASHINGTON/NEW YORK (Reuters) – Regulators are ordering some of the largest U.S. banks to find tens of billions of dollars of capital to cushion themselves in the event of a deep economic downturn.
NEW YORK - Gold prices rose Wednesday along with other commodities, buoyed by a falling dollar and an increasingly upbeat outlook on the economy.
NEW YORK (Reuters) - U.S. mortgage applications rose last week even as interest rates jumped to their highest levels since mid-March, data from an industry group showed on Wednesday.
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http://news.yahoo.com/s/nm/20090507/ts_nm/us_financial_banks;_ylt=AmHqsfcnvavmp54alCDXkaXv5rEF
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