recession

Bernanke, speaking at a conference on community development in Arlington, Virginia, said many of the country's poorest communities had been struggling before the downturn, and things have only gotten worse.

The "Great Recession" officially ended almost two years ago, and the national economy is growing at a moderate pace, but for many poor and working-class Americans the current economic climate f

Federal Reserve Chairman Ben Bernanke called for more lending to small businesses and people in lower-income neighborhoods on Friday, saying they'd been hurt disproportionally by the recession.

The chain has suffered since consumers reduced spending in the recession. It was also hurt due to the fact that many restaurant locations are in retail malls, which shoppers avoided during the economic downturn.

Sbarro is also hurt by debt that it took on when private-equity firm MidOcean Partners bought it in January.

It has total assets of about $471 million and about $486.6 million in debt, according to the bankruptcy filing.

Sbarro Inc. said that it is filing for Chapter 11 bankruptcy protection as it looks to restructure.

Finding out the exact names and numbers will take some time, as the Fed released 894 individual PDF files totaling over 25,000 pages.

The lending peaked at $111 billion on October 29th, 2008, as credit markets nearly froze in the wake of the bankruptcy of Lehman Brothers.

In the Fed's nearly 100-year history, the central bank has never before released data relating to the discount window.

The Federal Reserve disclosed today which banks borrowed from its discount window and how much, during the period from August of 2007 to March of 2010.

The new estimate includes the $700 billion Troubled Asset Relief Program, as well as other Federal Reserve and government programs.

The U.S. Treasury announced on Wednesday that government financial rescue programs have begun to turn a profit, and estimates a total profit of about $24 billion based on current market conditions.

KeyCorp announced that it completed the repurchase of $2.5B of Fixed-Rate Perpetual Preferred Stock, Series B issued to the Department of the Treasury as a result of Key's participation in the Capital Purchase Program of the Troub

Credit Suisse has revised down its U.S. GDP forecasts for the first half of 2011. The firm now expects 2.5% real GDP growth in Q1, down from its previous forecast of 3.5%. Its Q2 forecast was also revised down to 3.3% from 3.7%. H

The current downtrend began in August 2010, after the federal homebuyer tax credit expired in the spring.

U.S. home prices declined in January, falling to a level equal with the summer of 2003, according to the S&P Case-Shiller indexes. The index showed prices fell 1% in the month, after rising 2.38% in December.

That represents 30% to 40% of the company's U.S. employee base currently at 2,275 workers.

Hutchinson Technology has closed multiple plants and cut hundreds of jobs over the past two years as it lost customers during the recession.

The cuts will be made over the next year and will reduce costs by $45 to $60 million per year.

Hutchinson Technology Inc (NASDAQ:HTCH) said today it would cut between 680 and 900 jobs from its U.S. workforce.

Dick's had a 9.4% increase in consolidated same store sales and opened 10 new stores. The 9.4% consolidated same store sales increase consisted of an 8.6% increase at Dick's Sporting Goods stores, a 2.2% increase at Golf Galaxy st

Edward W.

Dick's Sporting Goods (NYSE:DKS) reported Q4 EPS of $0.76, above analysts' consensus estimate of $0.72 per share. Sales for the quarter were up 13.6% year-over-year to $1.51 billion, beating the consensus estimate of $1.45 billion