70% of subprime borrowers still in trouble; oil near $120
CBS
Transcript
struggling homeowners still aren't getting the help they need despite efforts by the government a new report by the state foreclosure prevention working group found 70% of delinquent subprime borrowers are still in trouble about 300,000 subprime borrowers are now in some stage of foreclosure that's up 8% since October on Wall Street investors will be reacting to Yahoo's quarterly earnings the tech giant posted profits of 11 cents a share that's 2 cents better than expected Yahoo hopes this earnings report will prove that Microsoft's $45 billion takeover bid undervalues the company also on the dock at earnings reports from Apple computer amazon.com Delta Airlines and ups and Wall Street will once again be watching oil prices they surged to a new record Tuesday within Striking Distance of $120 a barrel those soaring oil prices and more disappointing earnings news triggered a selloff on Wall Street the Dow lost 105 points the NASDAQ gave back 31 the government wants to step up fuel efficiency standards under a new proposal by the national highway traffic safety administration cars would have to get nearly 36 m per gallon and trucks 282 m per gallon by 2015 the struggling Auto industry would have to spend tens of billions of dollars to reach those goals that's your money watch log on to CBS news.com for more business headlines in New York I'm Alexis christopherus