Car production in the UK slumped by almost 60 per cent in January as demand for new vehicles evaporated amid the deepening recession, the Society of Motor Manufacturers and Traders (SMMT) announced today. Only 61,404 cars... [full story]

The number of people losing their homes rose by 54 per cent last year to a 12-year high, while the number of homeowners in arrears soared by 70 per cent, figures show. Lenders repossessed some 40,000 homes last year, fewer... [full story]

Gold surpassed $1,000 an ounce in New York for the first time in almost a year as investors, hurt by plunging stocks and a deepening recession, sought to protect their wealth. Gold futures for April delivery rose $25.70,... [full story]

Since the start of the year, the front month futures contract on Nymex has rallied about 13%, and on Friday, topped $1,000 an ounce for the first time in nearly a year. Read Metals Stocks. The Amex Gold Bugs Index (.HUI)... [full story]

Mike Stelzer expected to retire after selling his cattle ranch outside Bakersfield, California. Instead, the 73-year-old is raising Holsteins on leased land, unable to quit because a chunk of his $2 million nest egg is stuck... [full story]

Bank of America CEO and Chairman Kenneth Lewis has been issued a subpoena by the New York State Attorney General's Office, which is investigating whether the bank violated state law by withholding information from investors,... [full story]

Safe-haven demand and a lack of investment alternatives continue to help gold break from its traditional trading relationships, rising toward a new record, despite a strong U. S. dollar and weak crude oil prices. In fact,... [full story]

Canada Mortgage and Housing Corp. says the downturn in the economy will drive new-home construction to a nine-year low in 2009, a forecast that differs significantly from what the Crown corporation was saying in November. But... [full story]

With bargain basement valuations staring them in the face, cashed up companies have a golden opportunity to make a splash in the M&A market. However, unprecendented economic uncertainty and investor cries that now may... [full story]

With precious metal prices flying high, senior gold miners like Goldcorp Inc., Kinross Gold Corp. and Agnico-Eagle Mines Ltd. are reporting fourth-quarter results that show they are swimming with cash, producing record amounts... [full story]