| | Bush drops opposition to housing bill
1:19PM CT
WASHINGTON (AP) - Congress is moving quickly to pass a housing package that aims to help 400,000 strapped homeowners avoid foreclosures and prevent Fannie Mae and Freddie Mac from collapsing. | | |
Chrysler plans to cut 1,000 salaried jobs
2:41PM CT
DETROIT (AP) - Chrysler LLC said Wednesday it will cut 1,000 salaried jobs worldwide by Sept. 30 as it tries to return to profitability amid a severe downturn in U.S. sales. | | |
 Toyota outsells GM worldwide in first half
2:18PM CT
DETROIT (AP) - General Motors Corp., pummeled by falling U.S. sales and high gas prices, lost the global sales lead to Toyota Motor Corp. in the first half of this year, but the churning market makes it difficult to predict which automaker will end the year on top. | | |
Oil drops below $125 for 1st time in over 6 weeks
2:17PM CT
NEW YORK (AP) - Oil prices shed nearly $4 Wednesday, tumbling below $125 a barrel for the first time since early June on growing fears that high prices and the weak economy are destroying demand. | | |
 ConocoPhillips 2Q profit soars
1:25PM CT
HOUSTON (AP) - Record crude prices helped oil giant ConocoPhillips' second-quarter profit climb 13 percent from adjusted results a year ago, beginning what is expected to be a string of robust earnings announcements from major oil companies. | | |
Costco sees 4Q, full-year profit below estimates
9:42AM CT
NEW YORK (AP) - Costco Wholesale Corp., which had been one of the few bright spots in retailing, said Wednesday that its earnings will miss Wall Street expectations, as it struggles with higher energy costs that are crimping its bottom line. | | |
McDonald's returns to profitability in 2nd-quarter
2:03PM CT
NEW YORK (AP) - Consumers helped bring McDonald's Corp. back to profitability in the second quarter by spending on breakfast biscuits, new chicken sandwiches and drinks despite the tough economy in the U.S. | | |
Government: Airfares in US rose 4.4 pct in 1Q
2:23PM CT
ATLANTA (AP) - Average domestic airfares rose 4.4 percent in the first quarter of 2008 compared to the same period a year earlier, the government said Wednesday in an analysis that was based on a small sample of itineraries and excluded some high-priced destinations. | | |
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