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WASHINGTON (Reuters) - The U.S. economy needs months to recover from its slowdown, but the banking system remains sound despite a home mortgage crisis that could cause more problems, Treasury Secretary Henry Paulson said.
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WASHINGTON (Reuters) - The U.S. economy will need months to recover from a growth slowdown caused by a home mortgage crisis, turmoil in financial markets and high energy prices, Treasure Secretary Henry Paulson said on Sunday.
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KANSAS CITY, Missouri (Reuters) - The U.S. housing crisis looks pretty distant when viewed from the cornfields of middle America, although land values pushed up by record commodity prices also evoke past booms that ended in bust.
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DUBAI (Reuters) - An $11 billion joint plastics venture between Dow Chemical Co and a unit of Kuwait Petroleum Corp will be based in Michigan, the two companies said in a statement on Sunday.
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LOS ANGELES (Reuters) - In 1973, when Bill Gross was 15 and cars were lined up at every gas station in Southern California, the aspiring engineer wanted to do something about spiking energy prices.
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KAOHSIUNG, Taiwan (Reuters) - Fast-moving Asia is vying for a bigger share of the multi-billion-dollar luxury ship market serving the rich and famous.
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SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc presented a colorful, casual line of youthful looks for kids and teens on Saturday at a fashion show that previewed the mass-market chain's new low-cost offerings for back to school.
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CHICAGO (Reuters) - Car maker Ford Motor Co is drawing up plans to retool American plants to make small, fuel-efficient passenger cars that it mainly makes and sells in Europe, the Wall Street Journal reported on Saturday.
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LONDON (Reuters) - Citigroup chairman Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for another two years.
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WASHINGTON/NEW YORK (Reuters) - Freddie Mac won approval from regulators on Friday to sell the stock needed to overcome mounting losses, and the Wall Street Journal said the mortgage finance company may seek $10 billion.
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