Battered Citigroup has raised money from investors, laid off employees and sold off chunks of the business. It wasn't enough. Today the company announced it would sell off $400 billion in assets. Amy Scott has more.
Sprint Nextel and Clearwire are teaming up to create the next generation high-speed Internet network. The companies will combine their wireless broadband units. Amy Scott reports they'll get help from powerful friends.
Remember back when you could get a gallon of gas for under $3? Chrysler is offering its customers a bit of a flashback. Through early June, customers who buy or lease a new Chrysler will get a price break on gas. Amy Scott reports.
Homeowners aren't the only ones who've gotten up to their ears in debt in the subprime loan debacle fallout. Investment banks and hedge funds have gotten into trouble by borrowing more and more to finance their investments. Amy Scott reports.
Banks borrowed heavily to make lucrative investments during good times. Since then, losses from the subprime mortgage meltdown have eroded their cash cushions. Amy Scott reports banks are being taught a lesson learned from last century.
Mortgage applications are up and a new poll says a majority of Americans think now is a good time to buy a home. Still, many who take the plunge are finding themselves up against a new roadblock. Amy Scott reports.
As the credit squeeze gets tighter every day, students and parents watching the headlines might be worrying about how they'll pay for college. Now, a nonprofit heavily involved in student loans has filed for bankruptcy. Amy Scott reports.