Fitch Ratings downgraded sent several of its ratings on auto parts maker Tenneco Inc. deeper into junk status on Thursday, citing the steep declines in automobile production in recent months.

CapitalSource Inc., a commercial lender to middle-market businesses, on Friday reported a fourth-quarter loss of $298 million driven by loans that soured and an increase in the company’s allowance for bad loans.

MT. LAUREL, N.J.—-PHH Corporation today announced results for the three months and year ended December 31, 2008.

To cut costs, companies such as Capital One are pushing more employees, including even top managers, to work from home

Net Loss of $1.07 Per Diluted Share for the Quarter; Adjusted Earnings $0.55 Per Diluted Share for the Quarter

Shares of SLM Corp. and other student lenders plunged Thursday after President Barack Obama proposed eliminating the role of private industry in the federal government’s college loan program.

Shares in Sallie Mae, one of the largest US private sector student lenders, fell 31 per cent on Thursday after the Obama administration proposed ending federal subsidies for companies that provide loans to students.

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