WSJ.com: What's News US

Mortgage Firms Asked to Modify More Loans

Fri, 10 Jul 2009 01:11:38 EDT

The Obama administration is pressing mortgage-servicing companies to step up their efforts to modify troubled loans under its housing-rescue program.

AIG Seeks Clearance to Release Bonuses

Fri, 10 Jul 2009 00:08:06 EDT

AIG is asking the Obama administration's new compensation czar whether it should pay previously agreed-to retention bonuses.

J.P. Morgan to Send Warrants to Market

Fri, 10 Jul 2009 01:13:52 EDT

Several Wall Street firms complain the Treasury is asking too high a price to buy back government-held warrants from the financial bailout.

Economists Oppose More Stimulus

Fri, 10 Jul 2009 00:08:26 EDT

Most economists in the Journal's forecasting survey said the U.S. doesn't need another round of stimulus, despite expectations of severe job losses.

The Failure of a Fail-Safe Strategy

Fri, 10 Jul 2009 00:08:06 EDT

Asset allocation, a bedrock of investing for decades, appeared to fail miserably in 2008, sending many investors back to the drawing board.

GM Set to Exit Bankruptcy

Fri, 10 Jul 2009 00:08:06 EDT

GM is poised to exit Chapter 11 protection. The quicker-than-expected reorganization could represent a major accomplishment for the Obama administration.

Exit Signs for Lawson at Fidelity

Fri, 10 Jul 2009 00:08:06 EDT

Fidelity Investments has started a search for potential candidates to succeed its president, Rodger Lawson.

China Exports Fall at Slower Pace

Fri, 10 Jul 2009 04:37:55 EDT

China's exports fell 21.4% in June and imports fell 13.2%, marking smaller declines than in the previous month, Xinhua reported, citing figures from the General Administration of Customs.

Exxon Shale-Gas Find Looks Big

Fri, 10 Jul 2009 00:08:06 EDT

Exxon Mobil said drilling results from its first wells in Canada's Horn River Basin shale-gas field indicate that it is likely to be a very productive source of natural gas.

Firms Fight Derivatives Regulation

Fri, 10 Jul 2009 00:08:06 EDT

Companies like Caterpillar, Boeing and 3M are lobbying Congress to push back on proposals to regulate the over-the-counter derivatives market.

Cerberus Overhauls Fund Terms

Fri, 10 Jul 2009 00:08:06 EDT

Cerberus Capital moved to appease investors, setting a plan to sell assets for those who want out and setting new terms for those who stay.

Citadel Sues Three Former Employees

Fri, 10 Jul 2009 00:08:26 EDT

Citadel sued three former employees, saying their formation of a rival trading firm violated a noncompete pact.

Retailers Report Lower Sales

Fri, 10 Jul 2009 00:08:06 EDT

Retailers posted generally lower sales, with Abercrombie & Fitch's 32% drop among the sharpest declines. TJX and Ross reported small gains.

BOE Halts Bond Buys

Fri, 10 Jul 2009 00:08:26 EDT

The Bank of England held off on expanding a bond-buying program aimed at jump-starting the U.K. economy.

U.K. Police Won't Reopen Tabloid Probe

Fri, 10 Jul 2009 00:08:26 EDT

London police said they have no plans to reopen an investigation into claims that News Corp. newspapers used dubious methods to obtain personal information on public figures.

New Jobless Claims Drop

Thu, 09 Jul 2009 23:15:23 EDT

New U.S. claims for unemployment tumbled to the lowest level since the start of the year. Separately, wholesaler inventories declined again.

China Raises Stakes in Detention of Australian

Fri, 10 Jul 2009 02:38:18 EDT

China said prosecutors have sufficient evidence that an Australian employee of Rio Tinto stole state secrets, hurting China's economic security.

Madoff Won't Appeal Sentence

Fri, 10 Jul 2009 00:08:26 EDT

Madoff has decided against appealing his 150-year sentence for a multibillion dollar fraud.

Official Warns of Threat To Fed's Independence

Fri, 10 Jul 2009 00:08:26 EDT

Donald Kohn, the central bank's No. 2 official, urged Congress to respect the Fed's independence to conduct monetary policy.

One Festival the Mayor Can't Get Behind

Fri, 10 Jul 2009 00:07:00 EDT

In Laguna Niguel, Calif., the biggest event of the year is one where crowds drop their trousers when a train rolls by. This year, the city is cracking down.

Air Hubs Pay to Keep Their Spokes

Fri, 10 Jul 2009 00:08:26 EDT

Smaller cities are ramping up subsidies to keep airlines from cutting routes as a stiff recession sends air traffic tumbling.