LOS ANGELES (Reuters) - U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans.
WASHINGTON (Reuters) - President Barack Obama used his weekly radio address on Saturday to tell Americans that this week's positive job and economic growth figures are yet more evidence that the U.S. economy is recovering.
BEIJING/SHANGHAI (Reuters) - China's exports face a "hard and tortuous" path to recovery as uncertainties dog the global economy's gradual return to health, with this year's trade surplus set to shrink from last year's record, the Commerce Ministry said.
NEW YORK/SAN FRANCISCO (Reuters) - Chevron Corp posted a 51 percent drop in quarterly profit on Friday, becoming the latest oil major to be hit by the steep decline in oil and natural gas prices and anemic margins at refineries.
NEW YORK (Reuters) - CIT Group has met at least one of the hurdles necessary to file for a prepackaged bankruptcy, sources said, bringing the commercial lender one step closer to the fast bankruptcy process it is seeking to lower its liabilities and get back to health.
DETROIT (Reuters) - Ford Motor Co is expected to post a narrower quarterly loss with support from the U.S. government "cash for clunkers" program, but the focus will be on the outlook for the U.S. economy and auto industry sales.
WASHINGTON (Reuters) - Federal Reserve officials are scheduled to meet with bank executives on Monday to discuss executive pay at large financial firms, a Fed spokesperson said on Friday.
NEW YORK (Reuters) - Time Warner Inc is set to take a restructuring charge of around $100 million for planned job cuts at its Time Inc publishing unit, according to people familiar with matter.
NEW YORK (Reuters) - American Express Co , the largest U.S. credit card company by purchases, said on Friday it was eligible to issue $12.1 billion more of securities under the Term Asset-Backed Securities Loan Facility plan, or TALF.
NEW YORK (Reuters) - The Dow industrials suffered its worst slide since July on Friday on concerns that the economic recovery won't be robust enough to sustain the seven-month stock rally, while financials sank on renewed worries about Citigroup's balance sheet.
