Wall Street turned higher Wednesday as another drop in oil priceshelped offset concerns about a jump in inflation last month. The DowJones industrial average rose more than 150 points.
The FBI is investigating now-defunct IndyMac banks for possible fraud, according to the Associated Press. IndyMac Bank's assetswere seized by federal regulators last Friday after the mortgage lendersuccumbed to the pressures of tighter credit, tumbling home prices andrising foreclosures.
Oil prices extended their decline Wednesday after diving more than $6 a barrel in the previous session on concerns that U.S. economic problems may reduce demand for crude.
Police have been called in to tame an angry throng of IndyMac Bank customers trying to pull money out of the Encino branch on Day 2 of a federal bank takeover.
Oil prices fell harder than they have in 17 years Tuesday, as fearsthat record fuel prices are spreading broad economic pain led to thethird big sell-off in just over a week.
Several major airlines will begin displaying ads on boarding passes forcustomers who check in from home. Customers can print the boardingpasses without ads if they want. The boarding-pass ads are only the latest effort by airlines to raise cash to
Wall Street ended a whipsaw day mostly lower Tuesday, as fears of escalating instability in the financial sector kept investors on edge despite a steep retreat in oil. The Dow Jones industrials closed at 10,962, their first close below 11,000
American Airlines is cutting 200 pilot jobs as it sheds 8 percent of its work force to cope with higher costs for jet fuel. Executives told employees two weeks ago that they plan to eliminate 8percent of the work force
