Reuters - GMAC LLC, the auto finance and mortgage company, plans to eliminate about 5,000 jobs at its Residential Capital LLC unit and close all 200 GMAC Mortgage retail offices to combat weak housing and credit markets.

Reuters - GMAC LLC said on Wednesday it plans to cut 5,000 jobs at its Residential Capital LLC mortgage unit, or 60 percent of that work force, and shut its 200 GMAC Mortgage retail offices to combat persistently weak housing and credit markets.

AFP - Can Treasury Secretary Henry Paulson's "bazooka" save mortgage finance titans Fannie Mae and Freddie Mac from a calamitous meltdown?

Reuters - U.S. stocks tumbled on Friday, led lower by tech shares after computer maker Dell warned that companies worldwide are cutting back on technology spending.

Reuters - Personal income tumbled unexpectedly in July and inflation-adjusted spending shrank as government economic stimulus waned, but consumer spirits rose this month, a hint the economy may muddle through its woes.

AP - Wall Street tumbled Friday after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed. The Dow Jones industrial average fell more than 170 points, while a disappointing profit report from computer maker Dell Inc. weighed on the technology-heavy Nasdaq composite index.

AFP - US consumers snapped shut wallets as a boost from tax rebates wore off and inflation soared in July, government data showed Friday in what could be a bad omen for an economy dependent on consumer spending.

Reuters - Stocks tumbled on Friday after a warning by computer maker Dell that companies worldwide are cutting back on technology spending spooked the tech sector.

Reuters - Personal income tumbled unexpectedly in July and inflation-adjusted spending shrank at sharpest rate in four years as the lift from government stimulus checks waned, a government report on Friday showed.