Republican and Democratic leaders huddled on Capitol Hill today and emerged vowing to craft a bipartisan economic stimulus package. But, as much as politicians love to spend money and cut taxes, there's a fight over both. John Dimsdale reports.
The Federal Reserve came out with its "Beige Book" and there's no mention of a looming recession, just a "slower pace" of growth. Jill Barshay turned up more signs that some of America's economic ship is staying above water.
Two sets of economic figures out today might be giving economists flashbacks of the 1970s. Could a hit of "stagflation" — combining high inflation with a slowing economy — be felt again today? Jill Barshay reports.
In Saudi Arabia, banks and insurance companies have no rights in court because of the judges' adherence to a strict form of Islam. Kelly McEvers reports King Abdullah has promised billions to reform the courts.
Congress is looking for ways to stimulate the economy, but Republicans and Democrats think it could use a kickstart for different reasons. John Dimsdale reports where the sides disagree.
The nation's largest bank is expected to announce a $24 billion write-down and up to 24,000 layoffs due to subprime problems — more than twice what it previously announced. Ashley Milne-Tyte reports on how the company didn't know how bad things would be.
You're probably not planning to rush out and buy gold ingot anytime soon, but the rapidly rising price of gold is making certain consumers and retailers feel the pain. Janet Babin reports.
Bank of America is buying Countrywide Financial. And JP Morgan Chase is salivating over Washington Mutual. Which made us wonder: How far will bank consolidations go? John Dimsdale reports.
The European Central Bank says it won't hesitate to raise interest rates in response to higher wages. Megan Williams reports the bank is more concerned with inflation than it is about slack growth.
