Financial news of the day - CNNMoney.com

Why Europe will save us from $5 gas

Fri, 09 May 2008 12:14:53 EDT

With oil prices gushing above $126 a barrel, it's tempting to blame Europe for this inflationary mess.

Oil stockpile a drop in the bucket

Fri, 09 May 2008 11:41:04 EDT

As part of their plan to tame record oil prices, lawmakers are urging the President to stop putting oil in the nation's Strategic Petroleum Reserve. But some analysts say that won't do much to lower gas prices.

Tax rebates won't work - 82% say

Fri, 09 May 2008 12:13:12 EDT

Eight in 10 Americans believe that the government's $110 billion effort to help consumers will not boost the economy, according to a poll released Friday.

Teachers give job prospects an 'F'

Fri, 09 May 2008 11:31:28 EDT

Jonathan Hash, a history teacher at Herbert Hoover High School in San Diego, is enthusiastic about the teaching career he began two years ago. But now he might lose his job because of a statewide budget crisis, and that could force him to leave teaching altogether.

At $126, oil's record drumbeat goes on

Fri, 09 May 2008 11:28:08 EDT

Oil leaped into unchartered territory Friday, soaring past the $126-a-barrel mark for the first time, and leaving analysts and investors wondering how high the price will go.

Stocks dip on AIG and oil

Fri, 09 May 2008 10:51:11 EDT

Record oil and gas prices and a big quarterly loss for Dow component AIG were among the factors pressuring stocks Friday morning.

$500 billion on the block - Citigroup

Fri, 09 May 2008 12:33:04 EDT

Citigroup Inc. said Friday it planned to unload $400 billion in assets over the next few years as the beleaguered banking icon aims to reinvigorate itself.

Barely surviving on credit cards

Fri, 09 May 2008 09:44:29 EDT

These days, more and more people are saying "Charge it."

Why Microsoft isn't buying Facebook

Fri, 09 May 2008 11:26:19 EDT

When Microsoft walked away from its blockbuster bid for Yahoo, the media sought desperately to keep the news coming even when there wasn't much left to say. That seems to be how The Wall Street Journal came up with the notion that Microsoft had approached Facebook about an acquisition. It's not true.

The incredible shrinking house

Fri, 09 May 2008 12:28:02 EDT

Out on the range is the last place you would expect America's long-running obsession with big houses to be laid to rest.

Coming soon: Citigroup's grand plan

Fri, 09 May 2008 04:12:51 EDT

D-Day for Citigroup is Friday - and thank heavens it's finally arrived.

Clear Channel's murky outlook

Fri, 09 May 2008 11:35:01 EDT

Even as Clear Channel's day in court draws near, the broadcast and advertising conglomerate's $20 billion privatization deal appears less and less likely.

A new reality for real estate agents

Thu, 08 May 2008 18:05:48 EDT

When Cindy Brockwell, 58, and Bill Dailey, 62, sold their townhouse in Reston, Va. in early April, the only real estate agent involved was the one who brought them their buyers.

Is your money fund safe?

Wed, 07 May 2008 05:55:36 EDT

Money market mutual funds are known for being both liquid and solid. Liquid because you can get your money out of them at any time; solid because they maintain a steady value of $1 per share. And they're popular because they tend to pay slightly higher rates than Treasury bills or bank savings accounts. Individuals and institutions alike use them to park cash they are waiting to deploy and to ride out market storms. Amid the turmoil of the past year, assets have soared 45%, to $3.5 trillion. But with the credit crunch casting doubt on many formerly safe-seeming securities, the big question for many investors has become, Is my money fund safe?

Trade gap narrows in March

Fri, 09 May 2008 10:17:19 EDT

The nation's trade gap narrowed in March, as a weakened U.S. economy led to the sharpest decline in Americans' demand for foreign imports in more than six years, according to a government report released Friday.