Most Recommended Business News

WASHINGTON - The Democratic-controlled House narrowly passed far-reaching health care legislation, handing President Barack Obama a hard-won victory on his chief domestic priority though the road ahead in the Senate promises to be rocky.

WASHINGTON - It hurts more to be unemployed now than the last time the jobless rate hit 10 percent.

WASHINGTON - President Barack Obama says now is the time for Congress to "answer the call of history" and approve legislation revamping the country's health care system.

WASHINGTON - House Democratic leaders say President Barack Obama, who made a quick trip to Capitol Hill, inspired their party to pass health care legislation.

WASHINGTON - A bipartisan House coalition voted Saturday to prohibit coverage of abortions in a new government-run health care plan that Democrats would establish to compete with private insurers.

SHARM EL-SHEIK, Egypt - China's premier on Sunday pledged $10 billion in new low interest loans to African nations over three years, offering the beleaguered continent sorely needed cash while dismissing criticism that Beijing's motives in Africa are far from altruistic.

FRANKFURT (Reuters) - Opel's top German labor leader said on Sunday he was willing to hold negotiations over a restructuring of the European carmaker under its parent General Motors so long as it gains greater independence.

ST ANDREWS, Scotland (Reuters) - Treasury Secretary Timothy Geithner on Saturday stressed the necessity of keeping global economic stimulus in place until recovery is assured and opposed the utility of a tax on financial transactions as a way to dampen risky bank behavior.

BEIJING - China is offering to abolish import duties on some commodities from Africa and make sure Chinese exports to the continent are safe as part of a package to boost already thriving economic ties, China's commerce minister said in an article published Saturday.

WASHINGTON - President Barack Obama still expects to have a health care overhaul bill to sign by year's end and plans to personally lobby for it in a visit to Capitol Hill on Saturday, the White House said.

NEW YORK - Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983.

NEW YORK (Reuters) - Freddie Mac , the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.

NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N) on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.

NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.

ST ANDREWS, Scotland (Reuters) - Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, departing from long-held opposition, though there was little sign of the consensus needed to make it fly.

SAN FRANCISCO (AFP) - US online music service Bluebeat said it plans to fight British recording label EMI over rights to stream and sell versions of Beatles songs.

WASHINGTON (Reuters) - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.

PHILADELPHIA - Negotiations aimed at ending a transit strike in Philadelphia broke off Saturday night over disagreement on pensions and the impact of possible national health care overhaul, and Pennsylvania's governor walked away from the negotiations.

WASHINGTON - Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.