Stocks finish higher despite dismal economic data

Wall Street withstood another stream of bad economic readings Wednesday, closing sharply higher after investors shuttled between pessimism about the recession and hopes that the nation might start seeing relief soon. The major indexes saw big swings throughout the day, but all closed up more than 2 percent, giving the market its second straight advance.

Chrysler exec: failure could spark depression

A top Chrysler executive warned Wednesday that a carmaker collapse could send the economy spiraling into a depression, while the United Auto Workers agreed to new concessions for their companies.

French power company in hunt for Constellation

A $4.5 billion bid Wednesday by France's state-controlled power company for reactors in Maryland and New York could lead to the only foreign ownership stake in U.S. nuclear plants.

Management group wins auction to buy Neuberger

A group of managers and employees has won an auction to buy Lehman Brothers Holdings' prized investment management unit, which includes the Neuberger Berman money management business.

Fed: Economy darkens heading into holidays

The country's economic picture has darkened further as Americans hunkered down heading into the holidays, forcing retailers to ring up fewer sales and factories to cut back on production.

Productivity growth is better than expected

Worker productivity slowed in the summer while wage pressures increased, but both developments were better than expected and are unlikely to raise inflation alarms at the Federal Reserve.

Obama names Gov. Richardson to head Commerce

President-elect Barack Obama selected New Mexico Gov. Bill Richardson as his commerce secretary Wednesday, naming a prominent Hispanic to his new Cabinet and calling him a leading "economic diplomat for America" in troubled times.

Oil prices waver on skimpy crude inventory report

Oil prices wavered near three-year lows as investors weighed falling global demand and a government report showing an unexpected decline in U.S. crude inventories.

Online retailers see surge on 'Cyber Monday'

Like their counterparts at the malls, online merchants finally got some relief with the unofficial start of the holiday shopping season, spurred by a bevy of deals and free shipping offers. But the stronger-than-expected bump in online sales Monday couldn't cancel out a lackluster November.