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Foreclosure Deal To Help Underwater Homeowners

Government officials have worked out a deal with the nation's five big banks to settle state and federal investigations of alleged foreclosure abuses. Banks would have to pay $5 billion in cash and another $20 billion in loan modifications under the terms of the deal.

Study: Young People Hardest Hit By Poor Job Market

Audie Cornish speaks with Kim Parker, Associate Director with Pew Social & Demographic Trends and lead study author about the new Pew report on record high youth unemployment statistics. The study found that negative trends in the labor market have hit 18-34-year-olds the hardest.

PepsiCo Says It Will Cut 8,700 Jobs Worldwide

The announcement comes as the company announced a fourth-quarter income of $1.4 billion.

Jobless Claims Drop By 15,000

At 358,000, first-time claims for unemployment insurance were the lowest they've been since March 2008. The report is the latest of several recent signs that the labor market is gaining some strength.

Settlement Reached With Banks On Relief For Some Homeowners

Officials have been pressing five banks to offer mortgage relief and some financial aid to homeowners who got crushed when the housing bubble burst or were caught up in the "robo-signing" scandal that sped up the foreclosure process.

What Do The Dow's Daily Swings Mean? Not Much.

Even the guy in charge of the Dow doesn't check it every day. Yet we're constantly bombarded by news of the Dow's daily movements.

Potential Conflicts At Freddie Mac Draw Scrutiny

A federal watchdog confirmed it is looking into Freddie Mac investments that act as bets against homeowners being able to refinance. In addition, U.S. senators are expected to probe Freddie Mac's investment practice at a hearing on Capitol Hill on Thursday.

China's Demolition Derby Turns History Into Rubble

Historic buildings in Beijing are being demolished in the pursuit of quick profit. Even the home of the architect who urged Mao Zedong to preserve Beijing's old city has fallen to the wreckers' ball, sparking considerable outrage. And the epidemic of destruction is spreading to new buildings, too.