The economy took a steep tumble at the start of this year, though it may not turn out to be quite as grim as the government first thought. The Commerce Department is set to release a report Friday that’s expected to show the economy shrank at an annualized…

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Recession – Loom – Business – get hired NOW – Economy

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Economy’s fall still bad – even if less steep

An attorney for American Indian farmers suing the government over alleged farm loan discrimination says the group continues to prepare for a trial despite statements by the Obama administration indicating a willingness to resolve such disputes. Joe Sellers,…

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Presidency of Barack Obama – Indian American – Ethnicity – Indigenous – Discrimination

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Indian farmers near ready for discrimination trial

LONDON (Reuters) – Oil rose above $65 a barrel on Friday, on track for its largest monthly percentage gain in more than a decade, after Japanese and U.S. data suggested the economic downturn may be moderating.

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Oil climbs above $65 on brighter economic outlook

(Reuters) – Auto parts supplier Delphi Corp may soon emerge from bankruptcy with the Obama administration’s autos industry taskforce pushing for a sale of its assets, possibly to another parts supplier or an investment firm, the New York Times said, citing people briefed on the matter.

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Delphi may sell assets to emerge from Chap 11: report

Wall Street closed higher Friday to cap off a three-month rally driven by signs that the worst economic slump since the Great Depression is gradually ending. The Dow Jones industrial average, the Nasdaq Stock Market and the S&P 500 index all gained a little…

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Indicators up, so downturn may be easing

Brett Levine has a sixth sense for swank. Inside his well-appointed San Francisco bachelor pad, he dims the lights and tunes his iPod to a Middle Eastern electro-lounge track. Then comes the James Bond part: On the first note, a gas fireplace flames to life,…

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Entrepreneur/artist makes flames dance to music

Inspired by last week’s picture in The Chronicle of two young women wearing recyclable dresses, Marin artist and Chronicle subscriber Roni Peskin Mentzer sent us a picture of her own creation: A wedding dress made entirely of the Chronicle plastic bags that…

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White wedding dress has ‘green’ trimmings

The furs are flying these days in Walnut Creek over plans to open a Neiman Marcus store downtown. A group of residents, backed by the owner of nearby Sunvalley mall, is gathering signatures to overturn the City Council’s May 19 approval of the upscale Texas…

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Neiman Marcus – City Council – Texas – United States – Shopping

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Rival mall fighting Neiman Marcus store

Thousands of first-time home buyers will be able to get short-term loans so they can quickly make use of a new $8,000 tax credit to pay for some of the costs of buying a home. The Federal Housing Administration released details Friday of a plan in which…

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Federal Housing Administration – Tax credit – Loan – Shaun Donovan – United States

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Home buyers can get tax credit in advance

With an almost certain bankruptcy filing days away, General Motors is beginning its reinvention, planning to retool one factory to make its smallest vehicles ever in the U.S. and rid itself of the biggest. As GM’s board began two days of meetings Friday to…

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Signs emerge pointing to retooled GM’s future

A disgruntled casino visitor, having just shot and mortally wounded a worker at the Trump Taj Mahal Casino Resort, planned to kill himself in a parking garage but was stopped by police, a casino executive said. Mark Juliano, CEO of Trump Entertainment…

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Trump casino says gunman had planned suicide

Asian stocks were modestly higher after Japanese industrial production jumped at its fastest pace in 56 years, in the latest sign recession was easing in major economies. But trading was tepid as many investors held back because of doubts about how much…

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Japan – Asia – Recession – Industrial production – Asian people

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Asian markets gain after jump in Japan production

(Reuters) – A group of banks and money managers plan to release a letter to the Federal Reserve Bank of New York and other U.S. and overseas regulators to help fend off some rules proposed by the Obama administration that seek to control trading in the derivatives market, the Wall Street Journal reported.

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Banks lobby regulators on derivatives rules: report

It will take one more day for a judge to determine whether it’s in the best interests of Chrysler and its stakeholders to sell most of the company to Italy’s Fiat Group SpA. Robert Nardelli, Chrysler LLC’s departing chairman and chief executive, testified in…

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Chrysler heads back to bankruptcy court Friday

A former sumo wrestling trainer was sentenced to six years in prison on Friday for his role in the fatal beating of a young wrestler during training. The Nagoya District Court convicted Junichi Yamamoto, 59, on charges of assault leading to death, court…

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Japan – Nagoya – Sumo – District court – Crime and Justice

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Sumo trainer convicted in young wrestler’s death