Applications for mortgages are at a five-year high, thanks to the recent interest rate cuts. But mortgage applications don't necessarily mean mortgage loans. Nancy Marshall Genzer explores the connection.
Millions of New York City residents rely on the subway to get around. But as it continues to lose money, the MTA may soon have to hike it's $2 ride fare up to $3. Jeremy Hobson gets commuters' reactions.
OPEC has vowed to make further cuts in production to help raise the price of oil. But Bob Moon reports the cartel can only really influence supply, and there's nothing they can do about crude's falling price.
The annual Christmas market at the Cologne cathedral in Germany draws tourists from around the world. And despite the economic downturn, many are still willing to splurge on the market's homemade goods. Emily Schwing reports.
Senators Dianne Feinstein and Olympia Snowe are introducing legislation that would require bailout recipients to give quarterly reports to the Treasury Department of how they're spending the money. Nancy Marshall Genzer reports.
The price of cocoa has been steadily rising in London as other commodities fall. Supply and demand are one reason, as is the need for that mug of hot cocoa or chocolate bar. Scott Jagow talks to Stephen Beard in London.
Wall Street and Detroit are undergoing a lot of changes as a result of the economic downturn. But commentator Robert Reich says they might not want that, as some see the industries' problems as cyclical, not structural.