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Porsche raises Volkswagen stake above 35 percent

Posted: 09/16/2008 - Porsche says it has raised its stake in fellow German automaker Volkswagen AG to more than 35 percent. It says the move puts it in effective control of Volkswagen.

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Congress weighs new regulations amid crisis

Posted: 09/16/2008 - A Congress criticized for being asleep at the switch as financial problems festered on Wall Street now is eyeing tough new regulations for investment banks. It's also exploring a new government role in the mortgage market.

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Calif. lawmakers end record-setting budget impasse

Posted: 09/16/2008 - California lawmakers have ended the longest budget impasse in state history, approving a roughly $145 billion spending plan that relies on accelerated income tax payments rather than borrowing or new taxes.

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Bush on hurricane duty again

Posted: 09/16/2008 - President Bush heads to Texas Tuesday to look at the destruction caused by Hurricane Ike.

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NY allows AIG to borrow from subsidiaries

Posted: 09/15/2008 - New York's governor says he will allow American International Group Inc. to use $20 billion in subsidiary assets to provide the cash needed for the troubled insurer to stay in business.

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Bush: Ike put 'pinch' on consumers

Posted: 09/15/2008 - President Bush is warning that consumers already struggling with the high price of gasoline will face a "pinch" because of Hurricane Ike's disruption of energy production.

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Bush says economy strong enough to handle turmoil

Posted: 09/15/2008 - While expressing sympathy for those caught in the Lehman Brothers-Merrill Lynch fallout, President Bush says federal policymakers will focus on "the health of the financial system as a whole."

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Cerberus: New Chrysler products will have appeal

Posted: 09/15/2008 - The chairman of the private equity firm that owns more than 80 percent of Chrysler says a commitment to making better products and working more closely with its dealers will be key factors in the struggling automaker's turnaround.

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Zimbabwe police fire warning shots at unruly crowd

Posted: 09/15/2008 - Police have fired warning shots at an unruly crowd of thousands that was trying to break into the convention center where Zimbabwe's rival political parties signed a power-sharing deal.

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