Executives from credit card issuers, including Bank of America Corp. (BAC) and American Express Co. (AXP), met with President Barack Obama last Thursday to make their case against new limits on transfer fees and higher interest rates.

Since the Obama administration took office almost 100 days ago, it has repeatedly said the key to an economic recovery is to unfreeze the credit markets and increase bank lending. 

After months of speculation, General Growth Properties Inc. (GGP) filed the biggest real estate bankruptcy in U.S. history, ending a futile seven-month effort to refinance its debt.

President Barack Obama convened a “who’s who” of executives from the nation’s largest banks Friday to mend fences with Wall Street and drum up support for his plans to stabilize the financial system.

Global airline losses may total $4.7 billion this year as revenues plunge below levels seen after the terrorist attacks of September 11, 2001, the International Air Transport Association said today (Tuesday).

With every proposed financial fix-up plan for the U.S. banking system, there’s always been one major sticking point: The logjam of hard-to-price – and even “toxic” – assets clogging the balance sheets of banks, investment houses or any other type of company with an involvement in the financial-services sector.

Finance ministers and central bankers from the Group of 20 nations, which account for more than 80% of the world economy, promised at a meeting Saturday to do “whatever is necessary” to fix the global economy. 

The U.S. trade deficit narrowed for a record sixth consecutive month in January to the lowest level in six years as imports and exports both slumped on weak domestic demand, government data showed on Friday.

The global economic meltdown has struck golf industry, dragging on tourism and travel, delaying golf course construction, and curbing club membership rolls.

The fraud scandal surrounding Allen Stanford and his consortium of investment firms grew to shocking proportions today (Thursday) as it spread its tentacles from the United States and the Caribbean to Latin America and Europe.