Silver State Bank in Nevada is shut WASHINGTON (AP) -- Regulators on Friday shut down Silver State Bank, saying the Nevada bank failed because of losses on soured loans, mainly in commercial real estate and land development.... [AP Top Business News] [Read More]

Talk of financial crisis sparks unease in S. Korea SEOUL, South Korea (AP) -- Headlines warn of a 'September crisis.' The currency falls to a four-year low and the stock market tumbles. Rumors swirl that foreign investors will pull out their money.... [AP Top Business News] [Read More]

Start-up Miwok Airways offers a way to beat traffic with short-hop air service On-demand flights from a choice of 40 airstrips in Southern California start in October at prices that depend on number of passengers and other factors. With airlines cutting back on flights and losing money by the billions, it... [Los Angeles Times - Business] [Read More]

University settles suit over alcohol death HATTIESBURG, Miss., Sept. 6 (UPI) -- The University of Southern Mississippi has settled a lawsuit by the family of an alumnus who died of alcohol poisoning after a drinking game at his fraternity. [UPI - Energy] [Read More]

Regulators Shutter Silver State Bank Silver State became the latest in a series of bank failures and one that could ripple through the presidential campaign. Until recently, one of Sen. McCain's sons was on the committee responsible for overseeing the company's financial condition. [Wall St. Journal - US Business] [Read More]

Jobless Rate Tops 6% The jobless rate hit 6.1% last month, the highest in nearly five years, deepening political debate over whether a second stimulus package is needed. [Wall St. Journal - US Business] [Read More]

U.S. to take control of Fannie and Freddie: reports WASHINGTON/NEW YORK (Reuters) - The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N) under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's... [Washington Post - Financial] [Read More]

Government may soon back troubled mortgage giants WASHINGTON (AP) -- The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said... [AP Top Business News] [Read More]

Plan Near for Fannie, Freddie The Treasury Department is close to completing a plan to help shore up Fannie Mae and Freddie Mac. The plan could amount to a government takeover, and a management shakeup is expected. [Wall St. Journal - Markets] [Read More]

Test could lead to better BSE detection WINNIPEG, Manitoba, Sept. 6 (UPI) -- Canadian researchers said changes in protein levels in urine can detect mad cow disease in live animals. [UPI - Energy] [Read More]

Andes may hold treasure trove of metals RESTON, Va., Sept. 6 (UPI) -- A geological study of South America suggests the Andes Mountains may hold a treasure trove of undiscovered minerals, researchers said. [UPI - Energy] [Read More]

FAA to Get High Marks in Report An independent review team is expected to laud the FAA's approach to ensuring airline safety, a big boost for an agency criticized after a string of oversight lapses. [Wall St. Journal - US Business] [Read More]

Market Snapshot: U.S. stock indexes likely in for another wild ride in coming week U.S. stocks are likely facing another wild ride in the week ahead, with the underlying trends decidedly bearish in the wake of Friday's unemployment report, which had the jobless rate spiking higher to 6.1%. [MarketWatch.com - Top Stories] [Read More]

Jobless Rate In August Hit A 5-Year High Businesses slashed jobs and the nation's unemployment rate hit a five-year high in August, the government reported yesterday, dashing hopes that the economy might stabilize in the second half of the year and showing that trouble has spread far beyond the housing and financial sectors. [Washington Post - Business] [Read More]

It's More Than a Mortgage For Marc Laplante and his partner, Mitchell Keiver, the decision to buy a house wasn't simple. [Washington Post - Business] [Read More]

Big-Picture Sites Most Helpful for Online Browsing With prices falling, I've been thinking about buying a rental house. Like every other home buyer, I've seen the number of 'for sale' signs increasing as the number of foreclosures multiplies. [Washington Post - Financial] [Read More]

A New Way to Tap Home Equity Improbable as it sounds at a time when U.S. homeowners have lost billions of dollars in equity, an industry is taking shape to help them tap portions of their equity wealth without incurring traditional mortgage debt or making interest payments. [Washington Post - Financial] [Read More]

Report: McCain ally may block Palin probe JUNEAU, Alaska, Sept. 5 (UPI) -- A Republican Alaska legislator has taken steps that Newsweek reports could derail a probe of Gov. Sarah Palin's firing of the state public safety commissioner. [UPI - Energy] [Read More]

Foreclosures Increase Again The rate of U.S. home mortgages overdue or in foreclosure surged again in the second quarter, a survey found. [Wall St. Journal - US Business] [Read More]

Dallas Fed President Sees 'Anemic' Growth Richard Fisher says inflation is too big a risk to ignore. [ABC News: Business] [Read More]

U.S. nears rescue plan for Fannie, Freddie The government has prepared a plan to take control of troubled mortgage giants Fannie Mae and Freddie Mac, officials told the two companies, according to three sources familiar with the conversations. [MSNBC.com: Stocks & Economy] [Read More]

Takeover of Fannie Mae, Freddie Mac likely WASHINGTON, Sept. 5 (UPI) -- U.S. officials told Fannie Mae and Freddie Mac Friday the institutions will be placed in conservatorship, The New York Times reported. [UPI - Energy] [Read More]

Boeing, machinists talks fail; union set to strike Despite a 48-hour contract extension, negotiations between Boeing Co. and Machinists union officials have failed and the union ... [USATODAY.com Money - Top Stories] [Read More]

As unemployment spikes, companies weigh options NEW YORK (AP) -- U.S. companies have cut more than 550,000 jobs so far in 2008 as they try to preserve their profits in a slumping economy, but analysts say such downsizing must be done carefully for corporations to have any long-term benefits.... [AP Top Business News] [Read More]

NASA adjusts launch dates HOUSTON, Sept. 5 (UPI) -- U.S. space officials moved the target launch date for the Shuttle Atlantis mission to the Hubble Space Telescope back two days to Oct. 10. [UPI - Energy] [Read More]

Judge refuses delay in fen-phen retrial LOUISVILLE, Ky., Sept. 5 (UPI) -- A federal judge has denied a request to put off the retrial of two attorneys accused of plotting to defraud clients in Kentucky's fen-phen diet-drug case. [UPI - Energy] [Read More]

CLC Ends Private Loan Disbursements College Loan Corp. is suspending the remaining part of its student-lending business after it lost funding. [Wall St. Journal - US Business] [Read More]

Multinationals' Profits Might Fall The dollar's resurgence against the euro and other currencies may cut into the profits of U.S. companies. [Wall St. Journal - Markets] [Read More]

Sources: Gov't takeover of Fannie, Freddie expected Shares of mortgage finance companies Fannie Mae (FNM) and Freddie Mac (FRE) tumbled in after-hours trading Friday following a ... [USATODAY.com Money - Top Stories] [Read More]

Boeing Union Set to Strike Boeing's machinists union planned to begin a strike after failing to reach an agreement during last-minute negotiations for a new contract. [Wall St. Journal - US Business] [Read More]