The Federal Deposit Insurance Corp. says its list of problem banks, those considered to be in trouble, shot up to 171 during the third quarter. That's up nearly 50 percent from 117 in the second quarter, and the highest number since late 1995.
The Federal Reserve said Tuesday it will buy up to $600 billion in mortgage-backed assets in another attempt to deal with the financial crisis.
Wall Street appeared ready to take a break Wednesday, ahead of the Thanksgiving holiday, after a steep market rally. Stock futures pointed moderately lower as investors awaited reports on jobless claims and orders on big-ticket items.
Poet, the nation's top ethanol producer, is in buyout talks with a number of ethanol companies, the company's founder said today. "We just feel there is a lot of promise in the future of the ethanol industry," said Jeff Broin, chief executive of privately held Poet. Poet's marketing division is based in Wichita.
The Center for Economic Development and Business Research at Wichita State University has revised downward its 2008 jobs forecast for the Wichita area, based on recently released national and local data.
Boeing and its engineering union will resume negotiations sometime next week. The Society of Professional Engineering Employees in Aerospace, which represents about 700 Boeing engineers in Wichita, gave the company a counterproposal Friday.
Wichita businessman Bud Gates opened his first Easyhome store Saturday. The merchandise leasing store is in the West Market Shopping Center at 113 S. Parker Road in Olathe.
Cargill Meat Solutions will celebrate its 100th Big Brothers Big Sisters employee match today with a $100,000 check to Kansas Big Brothers Big Sisters.
General Motors Corp. says it will end its endorsement deal with Tiger Woods at the end of the year. GM said in a statement Monday that it is looking to reduce costs, and that the world's No. 1 golfer wants more personal time as he expects his second child.
Avis Budget Group Inc. said Monday it will raise some of its car rental rates as it grapples with rising business costs. The company said it will raise its retail car rental rates by $3 per day and $20 per week starting Dec. 1 for airport and some off-airport rentals in the U.S. The increases exclude customers covered by corporate account agreements or other special arrangements.
After being skewered by Congress and lampooned on NBC's "Saturday Night Live," the CEOs of Detroit's three automakers may end up making their return trip to Washington by car as they seek a federal bailout.
The government's plan to bail out Citigroup sent Wall Street soaring Monday for the second straight session as investors hoped that the worst of the financial industry's problems might finally be over. The Dow Jones industrials surged nearly 400 points, and all the major indexes jumped more than 4.5 percent.
Rushing to rescue Citigroup, the government agreed to shoulder hundreds of billions of dollars in possible losses at the stricken bank and to plow a fresh $20 billion into the company.
After 32 years at Sullivan Higdon & Sink, Joe Norris is retiring. Norris is one of five managing partners at the advertising agency and, prior to that, was its lead creative director for almost 20 years.
Emprise Bank said today that merger talks between it and CornerBank have ended. "After careful consideration we did not feel all stakeholders' needs would be met" with a merger, CornerBank chief executive Bruce Schwyhart said in a news release.
Wall Street put a stop to a terrifying decline and stormed higher Friday as President-elect Barack Obama appeared ready to tap the chief of the New York Federal Reserve as the next treasury secretary and hand him the herculean task of righting the U.S. financial system. The Dow Jones industrial average, which had broken even for the day until news of the nomination leaked about an hour before the close, raced upward and finished 494 points higher, a rally of more than 6 1/2 percent.
Boeing delivered its first partial economic proposal to its Wichita engineering union on Thursday. The union, the Society of Professional Engineering Employees in Aerospace, called the offer "surprisingly disappointing to the point of insulting to professional engineers."
Airbus benefited from the recently ended strike by workers at U.S. rival Boeing Co. as it gave stretched suppliers more time to focus on orders from the European jet maker, the company said Friday.
A survey of bankers suggests the rural economy is still faltering and that there is little confidence things will look much brighter in six months.
Physician John Jeter, president and chief executive of the Hays Medical Center, is the new chair of the Kansas Hospital Association board of directors. As chair, Jeter guides the 21-member board that oversees the association.
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