More than 1 in 10 California workers were unemployed in January, the largest percentage in nearly 26 years, the state reported today. The 10.1% jobless rate is the highest since June 1983 and not far below the 11% record... [full story]

For two decades, Paul Greenwood and Stephen Walsh looked like Wall Street wizards. Their supposed investment prowess lured hundreds of millions of dollars from public pension funds and universities and earned the two lavish... [full story]

Crippled banks in Europe and the United States sank deeper into state control on Friday as governments fed them more cash to stabilise lending and kickstart faltering economies worldwide. The U.S. government was set to unveil... [full story]

The U.S. government committed to holding up to 36 per cent of Citigroup's common shares in a deal to bolster the fallen financial giant's capital base, and gave most of the bank's board their marching orders Friday. The... [full story]

The U.S. government says the economy shrank at a staggering 6.2-per-cent pace at the end of 2008, the worst showing in a quarter-century. Consumers and businesses ratcheted back spending, plunging the country deeper into... [full story]

THE Royal Bank of Scotland Group will put £325 billion ($A721 billion) of assets into a government insurance program and dispose of 20 per cent of its remaining holdings after posting the biggest loss in British history. RBS,... [full story]

By the time Canada's public sector pension plans have finished reporting results for last year, they will be sitting in a sea of red ink, experts say. And because those pensions are typically guaranteed by the government,... [full story]

What a turnaround for the American Dream! According to a report released Wednesday, the real estate market bust and stock market declines have carved a huge chunk out of the assets of baby boomers. So much home equity has... [full story]

Chancellor of the Exchequer Alistair Darling took a step closer to nationalizing U.K. banks, boosting his control of Royal Bank of Scotland Group Plc and pressing former Chief Executive Fred Goodwin to give up his pension. The... [full story]

Gold declined for a fourth straight day in London as a rally in European stocks and gains by the dollar lessened the precious metal’s investment appeal. Gold has slid 6.3 percent from an 11-month high of $1,006.29... [full story]