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Economy News

In this photo taken Wednesday, Sept. 1,  2010, job seekers look for work on a bank of computers set up at Workforce One in Hollywood, Fla. The number of people requesting unemployment benefits declined for the second straight week, suggesting that the slowing economy isn't prompting widespread job cuts. (AP Photo/Lynne Sladky)AP - The unemployment rate may be about to rise again.


2 Sep 2010 at 11:16pm

Job seekers wait in line for a career fair to open in Denver, Colorado. A fresh batch of US unemployment figures will on Friday provide Americans with a crucial litmus test for the stuttering economic recovery and President Barack Obama's policies.(AFP/Getty Images/John Moore)AFP - A fresh batch of US unemployment figures will on Friday provide Americans with a crucial litmus test for the sputtering economic recovery and President Barack Obama's policies.


2 Sep 2010 at 10:30pm

Reuters - China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.
2 Sep 2010 at 10:26pm

In this July 30, 2010 photo, teenagers enter a Juicy Couture clothing store that features a window display with back-to-school fashion, in New York. The nation's retailers are reporting surprisingly solid gains for August, helped by aggressive discounting, even as unusually hot weather and job worries kept a lid on back-to-school buying. (AP Photo/Mark Lennihan)AP - This year's back-to-school season isn't as big a bust for retailers as they feared — or as last year's — but it's not great either.


2 Sep 2010 at 9:42pm

Reuters - One upside of the worst U.S. economic slump since the Great Depression is that with fewer motorists on the road, the nation's highways are less congested and in better shape, a study said on Thursday.
2 Sep 2010 at 8:43pm

News Corp Chairman and CEO Rupert Murdoch arrives at the Sun Valley Inn in Sun Valley, Idaho July 9, 2010. REUTERS/Mario AnzuoniReuters - News Corp Chief Executive Rupert Murdoch said the global economy is still in an uncertain state and the media industry is going through a fundamental transformation that is unpredictable


2 Sep 2010 at 7:41pm

President Barack Obama delivers remarks at Xavier University in New Orleans, Louisiana, August 29, 2010. REUTERS/Jim YoungReuters - The White House stressed on Thursday that no second economic stimulus package is being considered as part of new measures under review by President Barack Obama's team.


2 Sep 2010 at 6:23pm

Reuters - The White House said on Thursday that President Barack Obama's top economic adviser will visit China from Saturday for three days of meetings.
2 Sep 2010 at 5:36pm

U.S. Federal Reserve Chairman Ben Bernanke testifies before a House Financial Services hearing on the Reuters - U.S. Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.


2 Sep 2010 at 4:40pm

A home for sale is seen in Great Falls, Virginia August 23, 2010. REUTERS/Kevin LamarqueReuters - Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.


2 Sep 2010 at 3:32pm

AP - OUTLOOK IMPROVES: The European Central Bank raised its growth projections for the 16-nation eurozone after better-than-expected economic news.
2 Sep 2010 at 3:01pm

A petrol station worker refuels a U.S.-made 1932 Ford car in Havana September 1, 2010. Cuba's oil industry wants to work with its counterparts in the United States and Mexico to promote safe drilling practices and avoid the kind of well blowout and spill seen recently in the Gulf of Mexico, a leading drilling industry expert said recently. Cuba currently produces about 60,000 barrels of oil per day (bpd), all from onshore wells. It receives about 115,000 bpd from ally Venezuela on favorable terms.  REUTERS/Desmond Boylan (CUBA - Tags: SOCIETY TRANSPORT ENERGY)AP - Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.


2 Sep 2010 at 2:51pm

AP - A look at economic developments and activity in major stock markets around the world Thursday:
2 Sep 2010 at 1:17pm

Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington, Thursday, Sep. 2, 2010, before the Financial Crisis Inquiry Commission.  (AP Photo/Manuel Balce Ceneta)AP - Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.


2 Sep 2010 at 12:50pm

AP - FASTER REFUNDS: The Treasury Department is exploring ways to help people without bank accounts collect their tax refunds more quickly. A pilot program launching next year will let some consumers get the money on cards, rather than waiting for paper checks. It could expand from there.
2 Sep 2010 at 11:44am

Victoria Will (L) has her blood drawn by a nurse practitioner during a routine physical in New York March 22, 2010. REUTERS/Lucas JacksonReuters - Companies are cutting healthcare costs further amid a continuing sour economy, scaling back benefits and shifting a greater share of the expense to employees.


2 Sep 2010 at 11:21am

Reuters - The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony on Thursday to the Financial Crisis Inquiry Commission on the problem of financial institutions that are "too big too fail."
2 Sep 2010 at 10:27am

The U.S. Federal Reserve Building is pictured in Washington, December 15, 2009. REUTERS/Hyungwon KangReuters - Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery.


2 Sep 2010 at 9:44am

Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.
2 Sep 2010 at 9:34am

A home is offered for sale in Hawthorn Woods, Illinois. New home sales plunged to the lowest levels in half a century and the pace of orders for goods indicated the manufacturing sector slowed markedly, with business capital spending contracting massively.(AFP/Getty Images/File/Scott Olson)AP - Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.


2 Sep 2010 at 9:27am

Stocks rise on economic hopes ahead of payrolls
NEW YORK (Reuters) - Stocks rose on low volume on Thursday as data showed improvement in housing and the job market a day ahead of the critical monthly payrolls figures.


2 Sep 2010 at 5:51pm

China approached Canadian fund on rival Potash bid
MELBOURNE/TORONTO (Reuters) - Chinese and other investors have approached at least one big Canadian pension manager about a bid for Canada's Potash Corp to rival BHP Billiton's $39 billion hostile offer.


2 Sep 2010 at 10:20pm

Heavy in dollars, China warns of depreciation
BEIJING (Reuters) - China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.


2 Sep 2010 at 10:26pm

Economic data damp down fears of new recession
WASHINGTON (Reuters) - Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.


2 Sep 2010 at 3:32pm

Burger King agrees to $3.3 billion sale to 3G Capital
LOS ANGELES (Reuters) - Burger King Holdings Inc agreed to sell itself to investment firm 3G Capital for $3.26 billion, giving the No. 2 U.S. fast-food chain breathing room to fix its business and close the gap with leader McDonald's Corp.


2 Sep 2010 at 4:14pm

Murdoch: Global economy is still not out of turmoil
NEW YORK (Reuters) - News Corp Chief Executive Rupert Murdoch said the global economy is still in an uncertain state and the media industry is going through a fundamental transformation that is unpredictable


2 Sep 2010 at 7:41pm

Bernanke takes blame for muddled message on Lehman
WASHINGTON (Reuters) - U.S. Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.


2 Sep 2010 at 4:40pm

Lehman preps bank units for sale or shutdown
NEW YORK (Reuters) - Lehman Brothers Holdings Inc , the bankrupt U.S. investment bank, needs at least $550 million to keep its two bank units going as it prepares to sell them or shut them down in 18 months, court documents show.


2 Sep 2010 at 3:34pm

HP wins 3PAR for $2.4 billion as Dell drops out
NEW YORK (Reuters) - Hewlett-Packard Co won the bidding war to buy data storage company 3PAR Inc for $2.4 billion, as rival Dell Inc bowed out on Thursday.


2 Sep 2010 at 8:20pm

Apple and Google to clash in music space by Christmas
NEW YORK (Reuters) - Google Inc is in talks with music labels on plans for a download store and a digital song locker that would allow its mobile users to play songs wherever they are as it steps up its rivalry with Apple Inc, according to people familiar with the matter.


2 Sep 2010 at 2:16pm

Stocks close higher after jobs, housing reports
Stocks ended higher for the third consecutive session after reports on housing, manufacturing and jobs all indicated that the economy continues to grow. China - Australia - Business - Asia - United States
2 Sep 2010 at 4:18pm

Economic data show recovery still kicking, a bit
It was a glass-half-full day for economic data on Thursday ... sort of.  The upbeat news was tempered by worries about what Friday's unemployment report will say about the state of the labor market. Unemployment benefits - Jobless claims - Unemployment - Business - Work
2 Sep 2010 at 3:34pm

Life Inc.: Proof that we can't work any harder
Math - Logic and Foundations - Computational Logic - Logical Frameworks - Organizations
2 Sep 2010 at 4:00pm

Mariner may be facing BP-style crisis
Mariner Energy, Inc. shares dropped more than 4 percent Thursday following news that one of its production platforms exploded in the Gulf of Mexico. BP - Gulf of Mexico - Energy - Mexico - Mariner Energy
2 Sep 2010 at 3:53pm

Bernanke: Shut banks if threat to system

Speaking at a panel investigating the financial crisis, Fed chief Ben Bernanke said Thursday regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.Fed chief Bernanke told a panel investigating the financial crisis Thursday that regulators must be ready to shut large institutions if they threaten to bring down the financial system.

Financial crisis - Business - Ben Bernanke - Federal Reserve System - Financial Services
2 Sep 2010 at 2:21pm

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2 Sep 2010 at 2:21pm

Manufacturing sector expanded in August
The Institute for Supply Management, or ISM, said Wednesday its monthly manufacturing report showed a stronger-than-expected reading in August. Institute for Supply Management - Manufacturing - Business - Reading - England
1 Sep 2010 at 9:43am

CEOs lay off thousands, rake in millions

In 2009, former Hewlett-Packard Chief Executive Mark Hurd slashed 6,400 jobs and his compensation amounted to $24.2 million that year.CEOs of the 50 firms that have laid off the most workers since the onset of the economic crisis in 2008 took home 42 percent more pay in 2009 than their peers, a new report finds.

Chief executive officer - Financial crisis - Layoff - United States - Law
1 Sep 2010 at 3:00pm

Private employers cut 10,000 jobs in August
The U.S. manufacturing sector grew faster than expected in August but private employers unexpectedly cut jobs, showing the economic recovery still faces headwinds. Employment - Business - United States - Job Search - Business and Economy
1 Sep 2010 at 2:42pm

White House economist calls for more stimulus

Christina Romer, the departing White House economist, is calling for additional fiscal stimulus to help revive the economy.Departing White House economist calls for further steps to stimulate the U.S. economy, saying high budget deficits should not be an excuse for allowing the unemployed to suffer.

White House - Economy of the United States - Deficit - United States - President
1 Sep 2010 at 8:35am

Investors brace for dreaded 'September effect'

There have been plenty of reasons for investors to panic in August.The economy is weakening, home sales are plunging and stocks are on a long slide. Now comes something even scarier for investors.

Business - Stock trader - Investing - Stocks and Bonds - Equities
31 Aug 2010 at 3:35pm

At meeting Fed discussed using more stimulus
Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy. Federal Reserve System - Government - Economic - Government debt - Finance
31 Aug 2010 at 6:14pm

Surprise rise in August consumer confidence
Americans'confidence in the economy improved slightly in August, but the mood is still gloomy amid job worries, according to a monthly survey. United States - Consumer confidence - Economic - Home - Social Sciences
31 Aug 2010 at 10:22am

Consumer spending edged higher in July

New data show Americans spent at the fastest pace in four months in July.Americans spent last month at the fastest pace in four months, helped by a jump in demand for automobiles.

Home - Consumer Information - Advocacy and Protection - United States - Shrubs
30 Aug 2010 at 9:32am

Obama: Too many Americans still out of work

President Barack Obama makes a statement on the economy in the Rose Garden of the White House in Washington.President Barack Obama acknowledged Monday that the economy continues to struggle and too many Americans are still struggling to find jobs.

Barack Obama - United States - President of the United States - President - History
30 Aug 2010 at 3:14pm

Life Inc.: Celebrating Buffett's b-day with his wisdom

Warren Buffett - Berkshire Hathaway - Pro-Life - Abortion - Organizations
30 Aug 2010 at 12:22pm

Key gauge says that stocks are dirt cheap now
With the market down three weeks in a row, investors are understandably grim. But there is a silver lining. Silver - Business - Investing - Precious metal - United States
29 Aug 2010 at 2:49pm

Economists divided over Fed's next direction
Economists are satisfied with the Fed's current interest rate policy, but they're divided over how the central bank should proceed over the next 12 months, a new survey finds. Central bank - Federal Reserve System - Interest rate - Government - Finance
30 Aug 2010 at 6:17am

In weak economy, some work two jobs

David Clarke works the front desk at The Clarendon Hotel in Phoenix. Clarke, who works for the city of Phoenix, has had to take on a second, part-time job as a hotel clerk to make ends meet.Even as nearly 15 million Americans are looking for just one job these days, around 6.5 million people, are working two jobs — or more — to make ends meet.

United States - Economy - Employment - Job Search - Business and Economy
30 Aug 2010 at 6:32am

Economic downturn defying solutions
Forget about a “double dip” recession; the economy may still be in “one long dip.”  That could mean textbook policies to restore growth aren’t working – because this recession is different. Recession - Economy - Economic - Social Sciences - Business
27 Aug 2010 at 12:23pm

Latest growth data show recovery losing steam

Construction workers break ground on an industrial park complex in Springfield, Ill. The U.S. economy grew at a much slower pace this spring than previously estimated, new data show.The U.S. economy grew at a slower pace this spring than previously estimated, mostly due to the largest surge in imports in 26 years and a slowdown in companies' restocking of goods.

Economy of the United States - Business - United States - Federal Reserve System - Dow Jones Industrial Average
27 Aug 2010 at 12:16pm

Bernanke says Fed might buy more securities

Fed Chairman Ben Bernanke, right, speaks with Federal Reserve Vice Chairman Donald Kohn at the annual Fed conference, in Jackson, Wyo., Friday. In a key speech Bernanke acknowledged that the recovery has waned but said the Fed is ready to do more to spur economic growth.Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly.

Ben Bernanke - Federal Reserve System - Economic - Central bank - Social Sciences
27 Aug 2010 at 12:59pm

Intel warns 3Q results will miss expectations

File - In this Sept. 5, 2006 file photo, the Intel Corp. company logo is displayed at its headquarters in Santa Clara, Calif. The big chip-maker Intel Corp. is cutting its sales forecast for the current quarter, adding fresh evidence Friday, Aug. 27, 2010, that a rickety economy is putting a damper on the back-to-school shopping season. (AP Photo/Paul Sakuma, file)Chip-maker Intel Corp. is cutting its sales forecast for the quarter, adding fresh evidence that a rickety economy is putting a damper on the back-to-school shopping season.

Intel Corporation - Intel - Business - Personal computer - Sports
27 Aug 2010 at 10:21am

How trader Dick morphed into banker CEO Dick Fuld
The rumors persisted of Lehman Brothers' being taken over again, and it was against such a background that Dick devised his pièce de résistance.
2 Sep 2010 at 10:55am

Family insurance costs skyrocket 14%
American workers are taking yet another blow to their wallets this year -- a whopping 14% jump in costs to insure their families.
2 Sep 2010 at 11:28am

Harrisburg, Penn., defaulting on its bonds
The capital city Pennsylvania is broke and will be skipping this month's multi-million dollar bond payment.
2 Sep 2010 at 10:22am

Back to school sales get an A
Retailers reported surprisingly strong August same-store sales as many consumers braved scorching summer temperatures to bag juicy discounts on school-related products.
2 Sep 2010 at 9:33am

Strongest jobs recovery in decades. Seriously
A jobless recovery? Hardly.
2 Sep 2010 at 5:58am

Jobless claims decline, but not enough
The number of first-time filers for unemployment insurance fell for a second straight week last week, but the level suggests that the labor market remains sluggish.
2 Sep 2010 at 8:40am

Americans in the dark about energy use
Americans aren't known for their energy-thrift ways. Maybe that's because they have little idea as to how much energy things use.
2 Sep 2010 at 11:43am

Back-to-school checklist: Whiter teeth & tattoos
Shopping for back-to-school "basics" used to mean T-shirts, jeans, socks and some notebooks. This year, parents added a few other things with one item that really stands out: tattoos.
2 Sep 2010 at 9:41am

Broke schools turn to volunteers
As state and local funding for education dries up, schools around the nation are asking their communities to help them maintain their services and programming.
1 Sep 2010 at 1:19pm

U.S. manufacturing activity grows
Manufacturing activity expanded in August for the 13th straight month, said an industry report released Monday.
1 Sep 2010 at 12:11pm

Corporate cards for consumers?
Sen. Charles Schumer, D-N.Y., is worried that credit card issuers are making it too easy for consumers to get corporate cards, which are exempt from tougher new laws.
1 Sep 2010 at 4:59pm

Jobs: 'Stopped firing, not yet hiring'
The jobs picture still looks sour, but there could be light at the end of the tunnel.
1 Sep 2010 at 10:38am

China manufacturing might help avoid crash
China's manufacturing sector rebounded in August, calming some fears about the pace of that country's growth.
1 Sep 2010 at 9:44am

Home Prices
Sept. 28
31 Aug 2010 at 12:21pm

Consumer Confidence
Sept. 28
31 Aug 2010 at 12:21pm

GDP
Sept. 30
31 Aug 2010 at 12:18pm

Inflation (CPI)
Sept. 17
17 Aug 2010 at 7:16am

Retail Sales
Sept. 14
17 Aug 2010 at 7:16am

Job Growth
Sept. 3
17 Aug 2010 at 7:17am

Manufacturing (ISM)
Sept. 1
3 Aug 2010 at 2:36pm

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