Minnesota's ResCap trying to survive Minnesota's big financial houses generally steered clear of the risky lending that created the nation's mortgage mess. But Minnesota is home to one of the nation's biggest lenders getting crushed by mortgage defaults.6:20 a.m.
India, Pakistan Relations Hurt By Mumbai Attack
India's fragile relationship with Pakistan has been badly damaged by the attacks on Mumbai. Indian officials say the gunmen who invaded that city, killing nearly 200 people, arrived by boat from Pakistan, and the only surviving gunman is a Pakistani. Indian politicians are demanding that Pakistan's government act decisively to get rid of the violent Islamist extremists operating on Pakistani soil.
U.S. Tries To Ease Tension Between India, Pakistan
U.S. officials are trying to prevent a military conflict between India and Pakistan over the Mumbai attacks. India and Pakistan are both U. S. allies, and Washington sees each as a critical component in the fight against terrorism. The Mumbai attacks could present a setback in a recent warming of relations between the two countries.
Drug Deaths, Violence Plague Border In Tijuana
Controlling immigration at the border between Mexico and the U.S. is proving challenging as drug cartels, money, gang violence and politics clash with a potentially idyllic and green city just south of San Diego. Tijuana is suffering as a result of the violence, officials say.
Ariel, Wa.: Whatever Happened To D.B .Cooper?
There were celebrations over the weekend in rural Ariel, Wash., to recall the country's most famous unsolved hijacking. Thirty-seven years ago, a man known as D.B. Cooper seized a jetliner, received a ransom and parachuted out somewhere over southwest Washington. He disappeared along with most of the $200,000 in cash.
Obama To Tackle Explosion In Federal Contracts
The Bush administration has hired private industry to take over more of the government's work than any administration ever. President-elect Barack Obama says he plans to take on the issue, which an official at a congressional watchdog says is out of control.
National Security Team To Be Unveiled
President-elect Barack Obama is set to unveil his national security team Monday. It's expected that former rival Hillary Clinton will be named secretary of state and Robert Gates will stay on as defense secretary.
Detroit's Big 3 Will Try Again To Get Federal Loans
Executives from the top three U.S. automakers return to Washington, D.C., this week. They're going to try, again, to convince Congress to give them federal loans. They say they need the money to avoid an industry collapse. Two weeks ago, Congress sent them away empty-handed.
Egypt's Suez Canal Threatened By Somali Pirates
The increased piracy off the Somali coast is threatening to reduce traffic through the Suez Canal, one of Egypt's economic mainstays. Some shipping companies are already ordering some vessels to travel around the horn of Africa to avoid the pirate-infested waters leading to the canal. Egypt is at risk of losing billions of dollars in revenue.
What Toys Sell In An Economic Downturn?
Toy sellers and manufacturers are worried about smaller profits this year. Nicholas Casey, who covers the toy industry for The Wall Street Journal, says the perfect toy will be something that is inexpensive. Some stores have already come out with long lists of toys under $10.
Retro Toy Still Has Price, Entertainment Appeal
The Slinky has been entertaining children for more than 60 years, and sales of the toy "are as strong as they've ever been in history," says Ray Dallavecchia of Poof-Slinky Toys. They sell by the millions, he says, and could be especially popular now because of their price tag: $4.50.