The number of layoffs was less than most analysts expected, but the report from the Labor Department suggested that the pressure on business owners and consumers was likely to continue.

WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke testifies for a second day before Congress amid a backdrop of fading confidence in the U.S. economy.

Vallejo's closely watched Chapter 9 bankruptcy filing in federal court in Sacramento may be a warning sign of dangers that could befall other cash-strapped municipalities.

The US labor market held up better than expected in April despite fears of an economic slump, with 20,000 jobs cut in the month, the Labor Department reported Friday.

Defense contractor General Dynamics said Tuesday it will buy Jet Aviation for about $2.25 billion in cash, seeking to expand its Gulfstream jet business and tap into fast-growing overseas demand for luxury private planes.