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The U.S. Department of Housing and Urban Development will award nearly $8 million in grants for Bexar and El Paso counties.
The grants are part of HUD’s Continuum of Care program designed to keep local homeless programs operating and prevent interruption of care. Continuum of Care programs provide permanent and transitional housing to the homeless.
The grants […]

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China’s automakers may dominate their home market, now the world’s largest, but the collapse of the sale of Saab to a Chinese-backed group shows it will be a bumpy ride for them to build a global profile.
Beijing Automotive Industry Holding Corp (BAIC) ranks 10th among China’s automakers, who are looking for a short cut […]

U.S. producer prices rose more slowly than expected in October despite a rebound in food and energy costs, according to a government report on Tuesday that pointed to tame inflation pressures.
The Labor Department said the seasonally adjusted index for prices paid at the farm and factory gate rose 0.3 percent following a 0.6 percent […]

Bank of America and regulators once again urged a federal judge to uphold a $33 million settlement tied to the disclosure of Merrill Lynch bonuses.
In two separate court filings made Wednesday, both the Charlotte, N.C.-based bank and the Securities and Exchange Commission defended the proposed settlement the pair struck in early August.
The settlement […]

Apple Inc. is investigating media reports that one or more of the company’s iPhones have exploded in Europe, a European Commission spokeswoman said on Tuesday.
The spokeswoman for the EU executive, which oversees the safety of consumer products sold in the 27-country bloc, said Apple had described the reported incidents as isolated.
Apple (AAPL, Fortune 500) […]

Cash-starved small business lender CIT Group said Wednesday evening that it has been told it won’t be getting a government bailout anytime soon.
There is "no appreciable likelihood of additional government support being provided over the near term," the company said in statement. The CIT board and executives are evaluating alternatives.
Trading of CIT’s shares was […]

The number of Americans filing for initial unemployment insurance fell more than expected last week, but ongoing claims ticked higher, according to government data released Thursday.
There were 601,000 initial jobless claims filed in the week ended June 6, down 24,000 from 625,000 the previous week, the Labor Department said.
Economists expected 615,000 new […]

The Pension Benefit Guaranty Corp., which guarantees private pension payments for 44 million Americans, said on Wednesday that it faces a massive, unprecedented deficit.
The PBGC reported a $33.5 billion deficit for the first half of fiscal year 2009, a period that ended on March 31. This means the agency could have problems paying back […]

Three of the largest banks operating in St. Louis flunked the government’s stress test last week and will have to raise new capital. They include Bank of America, ranked No. 2 in St. Louis market share, along with fifth-ranked Regions Bank and sixth-ranked PNC Financial, the new owner of National City Bank.
What […]

The Obama administration lost a bid to add a powerful weapon in its fight against foreclosure Thursday, after the Senate voted down a proposal to allow bankruptcy judges to modify mortgages.
The defeat left many housing advocates questioning the effectiveness of the president’s loan modification plan. The so-called cramdown provision, which would allow judges to […]