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Air Canada gets $1 billion infusion

The airline's Chief Executive Officer Calin Rovinescu said in a statement $600 million of the package is from a syndicate of lenders that carries a 12.75 percent annual interest rate, the Globe and Mail reported. The balance will come from several Canadian government agencies, although the interest rates weren't published for those..

Lenders fees interfere with homeowner help

The federal government currently provides lenders $1,000 for each modified loan that can help rescue a home from foreclosure with additional payments of $1,000 for the next three years, The New York Times reported Thursday.

U.S. recession impacting older males

For white, male workers over 55, the unemployment rate has reached 6.5 percent, a post-Depression record, topping the 1983 rate of 5.4 percent, the previous post-Depression high, USA Today reported Thursday.

Sony to cut 16,000 jobs

Sony posted a net loss of $390.5 million in its fiscal first quarter, with overall sales dropping 19.2 percent compared to same period of 2008, The New York Times reported Thursday.

Crude oil prices swing up

Crude oil prices fell $4.21 per barrel Wednesday following a fourth consecutive day of flat trading on Wall Street.

Air Canada gets $1 billion infusion

The airline's Chief Executive Officer Calin Rovinescu said in a statement $600 million of the package is from a syndicate of lenders that carries a 12.75 percent annual interest rate, the Globe and Mail reported. The balance will come from several Canadian government agencies, although the interest rates weren't published for those..

Economic Outlook: Dog days of summer

The Fed's Beige Book report released Wednesday said the economy remained weak, but most districts indicated that the pace of decline has moderated since the last report or that activity had begun to stabilize, albeit at a low level.

Crude oil prices drop sharply Wednesday

The price of light, sweet crude dropped $4.21 to $63.05 per barrel overnight. Heating oil prices lost 0.0441 cents to $1.6609 per gallon. Reformulated gasoline prices fell 0.068 cents to $1.845 per gallon. Natural gas prices dropped 0.028 cents to $3.52 per million British thermal units.

Grain futures mostly lower Wednesday

Corn was off 2 1/4 to up 1/4, soybeans were off 11 1/4 to up 3, wheat was off 4 3/4 to of 5 1/4 and oats were off 2 to off 2 1/4.

Fed says economy remains subdued

Economic activity continued to be weak going into summer, in all 12 of the bank's districts, the Fed's Beige Book report said. But most districts indicated that the pace of decline has moderated since the last report or that activity had begun to stabilize, albeit at a low level.

Lending shows positive signs, ECB says

The report said business loans had reached a turning point, with a slowdown in a recent trend of increased restrictions. Demand for home loans also rose for the first time since the first quarter of 2006, Financial Times reported Wednesday.

Employment companies hit with lawsuit

The suit claims Virginia Employment Services, Virginia Personnel and New Beginnings conned customers out of fees with promises of guaranteed jobs, the lawsuit filed in Norfolk Circuit Court said.

Boeing agrees to new severance package

Boeing said in January that it would cut up to 10,000 workers by the end of the year. In Washington alone, the company has shed 3,000 jobs since November, The Seattle Times reported Wednesday.

U.S. markets slide Wednesday

A Microsoft Corp. and Yahoo! Inc. announcement of a 10-year deal that plays to their strengths in Internet advertising did little to spur excitement. Microsoft shares rose 1.41 percent Wednesday. Yahoo! shares dropped 12.08 percent.

Retailers move to accept food stamps

This is the right thing to do, Joe Portera, executive vice president and chief operating officer of Costco's Eastern and Canadian divisions told USA Today Wednesday.