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Bush: Takeover of housing giants 'critical'
WASHINGTON - President Bush said Sunday that the historic federal government takeover of mortgage giants Fannie Mae and Freddie Mac is needed to keep them from failing, a risk he called "unacceptable" for an economy battered by housing and credit crises.
US Government takes over mortgage giants
WASHINGTON - The Bush administration seized control Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, aiming to stabilize the housing market turmoil that is threatening financial markets and the overall economy.
Foodmakers plan big ad campaigns in down economy
MILWAUKEE - Foodmakers may be worried about higher costs for key ingredients, pushing through price increases and still maintaining their profits. But for big names like Sara Lee, Kraft and others, these slim times don't mean doing away with their advertising budgets.
OPEC considers cutting oil production
VIENNA, Austria - With oil prices off nearly 30 percent from their highs of almost $150 a barrel, OPEC oil ministers are considering what was unthinkable just a few weeks ago _ cutting back output to prop up the price of crude.
Auto industry to press Congress for $50B in loans
WASHINGTON - Auto industry allies hope to secure up to $50 billion in government loans this month that would pay to modernize plants and help struggling car makers build more fuel-efficient vehicles.
Long-term plan aids marketing of Michael Phelps
Olympian Michael Phelps' record-setting performance in Beijing has led to multimillion-dollar endorsement deals, but his road to marketing gold was paved years before he swam a lap in China.
Cruise lines change course to cut fuel
PORTLAND, Maine - When the 1,020-foot Explorer of the Seas cruises through North Atlantic waters next year, it'll spend more time off the coast of New England and less time near Canadian shores, and it's not because of better vistas.
Iraqi Cabinet approves initial gas deal with Shell
BAGHDAD - Iraq's Cabinet approved an initial gas agreement Sunday between the Oil Ministry and Royal Dutch Shell PLC to invest in a joint venture to tap natural gas in southern Iraq, a government statement said.
Wall Street wobbles as economic landscape shifts
NEW YORK - The stock market has lurched back near its July lows _ but Wall Street's concerns are a bit different now than they were then.
WWE wrestles for share of Japanese market
TOKYO - Posing for a snapshot with a glittery championship belt in a packed theater, Seigi Nishiyama was among some 600 fans who can't get enough of World Wrestling Entertainment.