Bank of America Corp. could eventually shrink its 6,100-branch network by about 10 percent as consumers choose other methods of banking, a company spokesman said Tuesday. ...more

July 29, 2009

The era of the consumer-driven economy may be over. After powering U.S. and global growth for more than a generation, the American consumer has run out of gas. Burdened by debt and no longer able to borrow against rising home and stock values, U.S. households have begun a retreat in spending that will require the nation and the world to find new economic drivers, economists say. ...more

March 24, 2009

Macy's announced Monday it will cut 7,000 jobs, almost 4 percent of its work force, reduce its contributions to its employees' retirement funds and slash its dividend to preserve cash amid a severe pullback in consumer spending. ...more

February 3, 2009

The economy shrank at a 3.8 percent pace at the end of 2008, the worst showing in a quarter-century, as the deepening recession forced consumers and businesses to throttle back spending. ...more

January 30, 2009

The country tumbled deeper into recession and probably logged its worst economic performance in a quarter-century during the final three months of last year as battered consumers and businesses throttled back spending. ...more

January 30, 2009

Circuit City on Friday became the largest retailer to fall victim to the expanding financial crisis, announcing it will shut down its remaining 567 U.S. stores at the cost of 34,000 more jobs after failing to sell the business. ...more

January 17, 2009

Best Buy Co., the nation's largest consumer electronics chain, narrowed its fiscal 2009 adjusted earnings forecast Friday and said it will take an approximately $60 million fourth-quarter charge related to some employee buyouts. ...more

January 10, 2009

The nation's stores finally got some relief this Thanksgiving weekend, according to data released late Monday, but the sales gains were modest and analysts worry the pace can't be sustained through the season and beyond as shoppers worry about the recession. ...more

December 2, 2008

"Tell me how this ends," Army Gen. David Petraeus once asked a reporter. At the time, the U.S. military effort in Iraq was mired in futility. Today, he has his answer. The Iraqi Cabinet has approved a proposed security agreement that calls for the withdrawal of all U.S. troops by the end of 2011. Most Americans would say it's about time. ...more

November 24, 2008

Oil prices on Thursday hit levels not seen in more than three years and retail gasoline prices are now below $2 across nearly half of the country on dour economic reports suggesting a painful economic pullback. ...more

November 21, 2008