Chrysler has reached a point in discussions over a proposed alliance with Fiat that will allow the U.S. automaker to make some planning decisions on models, production locations and the timing of l.....

Major automakers' U.S. sales fell sharply in February, a sign that the new car market could hit the lowest point in more than 27 years as huge rebates and low-interest financing fail to spur fearfu.....

Bank of America’s request for 20 billion dollars of government aid to help it acquire investment banking firm Merrill Lynch was a "tactical mistake," Bank of America CEO Ken Lewis told a newspaper .....

American International Group posted a 61.7 billion dollars quarterly loss, the biggest in corporate history, and reached a new government bailout deal after officials concluded the insurer was too .....

American International Group will receive additional federal assistance of up to 30 billion dollars as part of a revamped government bailout, according to several reports Sunday.

The new f.....

TEMPE, Ariz. ― Mark Cooper started his work day on a recent morning cleaning the door handles of an office building with a rag, vigorously shaking out a rug at a back entrance and pushing a dust mo.....

JPMorgan Chase said it is cutting up to 14,000 jobs, more than previously disclosed, as it tries to reduce costs in the face of a slumping economy and higher credit losses.

The second-larg.....

With all the doom and gloom surrounding the banking industry from the toxic assets to the nasty recession, you’d think banks would be failing at a furious pace.

Think again. Since the reces.....

An Obama administration task force considering the fate of General Motors and Chrysler is discouraging bankruptcy protection as an option for the struggling companies, two senators said Tuesday.

Federal Reserve Chairman Ben Bernanke warned Tuesday the "severe" U.S. recession could drag into next year, but he suggested big banks would survive the downturn without being nationalized, cheerin.....

American Insurance Group, the insurance giant that is 80-percent owned by the US government, is in discussions with the government to secure additional funds so it can keep operating after next Mon.....

Former Merrill Lynch CEO John Thain was ordered by a New York court to testify on Tuesday on bonuses paid out to Merrill executives just before the brokerage giant merged with Bank of America.

U.S. President Barack Obama ordered the U.S. Treasury Saturday to implement tax cuts for 95 percent of Americans, fulfilling a campaign pledge he hopes will help jolt the economy out of recession.<.....

U.S. financial regulators will soon launch a series of "stress tests" to determine which of the largest U.S. banks may need additional capital cushions in the event of a deeper recession, a person .....

Banking giant UBS has agreed to pay 780 million dollars and turn over once-secret Swiss banking records to settle allegations it conspired to defraud the U.S. government of taxes owed by big client.....