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Economy News

Federal Reserve Board Chairman Ben Bernanke testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on The Semiannual Monetary Policy Report to the CongressReuters - The Federal Reserve would gain new powers over non-bank financial firms and keep much of its authority over banks under a new bill to be unveiled on Monday by the Senate's architect of financial reform.


14 Mar 2010 at 11:33pm

Reuters - Abu Dhabi Investment Authority (ADIA), considered the world's largest sovereign wealth fund, said the global economy still faces "considerable uncertainty," in its first annual review aimed at enhancing transparency.
14 Mar 2010 at 6:51pm

Federal Reserve Board Chairman Ben Bernanke attends a hearing of the House Banking Committee last month in Washington, DC. The US Federal Reserve's policy makers are expected to maintain benchmark interest rates at virtually zero percent at their meeting this week amid intense debate on how soon the central bank should tighten monetary policy.(AFP/Getty Images/File/Alex Wong)AFP - The US Federal Reserve's policy makers are expected to maintain benchmark interest rates at virtually zero percent at their meeting this week amid intense debate on how soon the central bank should tighten monetary policy.


14 Mar 2010 at 3:45pm

FILE - In this Feb. 25, 2010 file photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington. Federal Reserve policymakers may signal at their meeting this week how and when the improving economy will lead them to start raising record-low interest rates. (AP Photo/Manuel Balce Ceneta, File)AP - Federal Reserve policymakers may signal at their meeting this week how and when the improving economy will lead them to start raising record-low interest rates.


14 Mar 2010 at 1:57pm

AP - SMOKE SIGNALS: Federal Reserve policymakers may signal at their meeting this week how and when the mending economy will lead them to start raising record-low interest rates.
14 Mar 2010 at 12:48pm

Reuters - Investors will try to tack another leg on to the year-long U.S. stock rally, looking to this week's economic data and statement from the central bank for evidence the recovery is still on track.
14 Mar 2010 at 11:58am

China's Premier Wen Jiabao pauses during the second plenary meeting of China's parliament, the National People's Congress (NPC), at the Great Hall of the People in Beijing March 8, 2010. REUTERS/Jason LeeReuters - Chinese Premier Wen Jiabao on Sunday spurned foreign calls for the yuan to rise and showed no let up in scolding the United States over recent bilateral tensions.


14 Mar 2010 at 1:31am

France's Finance Minister Christine Lagarde speaks to close the two-day 'Salon des Entrepreneurs' (Businessmen Show) in Paris in this February 4, 2010 file photo.Reuters - French Economy Minister Christine Lagarde said on Saturday that she does not expect Euro zone finance ministers to make any decision on financial help for Greece when they meet next week.


13 Mar 2010 at 7:26pm

Traders work in the newly renovated section of the New York Stock Exchange. Wall Street stocks are set to build on nearly year-and-a-half highs as they face next week's key economic reports and the US Federal Reserve's monetary policy meeting(AFP/Getty Images/File/Mario Tama)AP - Stock market slides may hurt more than your savings. New research suggests they might prompt heart attacks. Duke University researchers found a link between how a key stock index performed and how many heart attacks were treated at their North Carolina hospital shortly after the recession began in December 2007 through July 2009, when signs of recovery emerged.


13 Mar 2010 at 1:58pm

Reuters - The United States should rethink domestic and global financial regulation, Lawrence Summers, director of the White House's National Economic Council, said on Friday, outlining six "imperatives."
13 Mar 2010 at 12:32am

Traders work in the newly renovated section of the New York Stock Exchange. Wall Street stocks are set to build on nearly year-and-a-half highs as they face next week's key economic reports and the US Federal Reserve's monetary policy meeting(AFP/Getty Images/File/Mario Tama)AFP - Wall Street stocks are set to build on nearly year-and-a-half highs as they face next week's key economic reports and the US Federal Reserve's monetary policy meeting.


13 Mar 2010 at 12:17am

Diana Gomez, left, and Garrett Mize, along with other University of Texas students, rally before a State Board of Education meeting in Austin, Texas, on Wednesday, March 10, 2010. A group of 40 students marched to the public hearing to ask 'the far-right, conservative faction of the state board to not inject their political agenda into the social studies and history curriculum.' (AP Photo/Jack Plunkett)AP - A far-right faction of the Texas State Board of Education succeeded Friday in injecting conservative ideals into social studies, history and economics lessons that will be taught to millions of students for the next decade.


12 Mar 2010 at 10:41pm

US President Barack Obama (pictured on March 11) is strongly considering three candidates to fill vacancies at the Federal Reserve board, the White House said Friday as he moves to revamp the central bank. San Francisco regional central bank chief Janet Yellen, a policy dove, is a AFP - US President Barack Obama is strongly considering three candidates to fill vacancies at the Federal Reserve board, the White House said as he moves to revamp the central bank.


12 Mar 2010 at 8:48pm

Reuters - Bankrupt Nortel Networks Corp on Friday posted a 62 percent drop in quarterly revenue, as customers cut spending in the face of uncertainty about its bankruptcy proceedings and the shaky economy.
12 Mar 2010 at 7:52pm

AP - RETAIL SALES: Retail sales rose 0.3 percent in February, surprising economists who had forecast a decline because of their expectation that major snowstorms would keep consumers away from stores.
12 Mar 2010 at 5:29pm

AP - People worldwide are still buying U.S. wine in a tight economy, although exports were down in 2009 from 2008's record-setting year.
12 Mar 2010 at 4:59pm

AP - The CEO of Union Pacific said Friday that shipments carried by the nation's biggest railroad are stronger than expected this year, but are still a long way from full recovery.
12 Mar 2010 at 4:58pm

AP - RESHAPING THE FED: President Barack Obama needs to fill three vacancies at the Federal Reserve. Janet Yellen, president of the Federal Reserve Bank of San Francisco, is his top pick to be vice chairman.
12 Mar 2010 at 4:24pm

FILE - In this April 16, 2008 file photo, Janet Yellen, the president of the Federal Reserve Bank of San Francisco speaks in Alameda, Calif. President Barack Obama intends to nominate Yellen to take over as vice chair of the Federal Reserve, a person familiar with the selection said Friday, March 12, 2010.  (AP Photo/Paul Sakuma, File)AP - President Barack Obama's likely choice of Janet Yellen to become vice chairman of the Federal Reserve would favor a policy that stresses low interest rates to ease unemployment over higher rates to curb inflation.


12 Mar 2010 at 4:17pm

The US Federal Reserve Building is seen from the air over Washington, DC. The US economy continued to expand modestly on the back of consumer spending but the labor market remained bleak, the Federal Reserve said in its Beige Book report Wednesday.(AFP/File/Saul Loeb)Reuters - San Francisco Federal Reserve Bank President Janet Yellen, a monetary policy dove, tops President Barack Obama's list to be No. 2 at U.S. central bank, the White House said on Friday.


12 Mar 2010 at 3:59pm

Data, Fed to test if rally has legs
NEW YORK (Reuters) - Investors will try to tack another leg on to the year-long U.S. stock rally, looking to this week's economic data and statement from the central bank for evidence the recovery is still on track.


14 Mar 2010 at 11:58am

Greek bailout tops EU finance ministers' agenda
BRUSSELS (Reuters) - Finance ministers from countries using the euro hope to agree on Monday on a way of providing heavily indebted Greece with financial aid, despite French and German doubts that a deal will be reached.


14 Mar 2010 at 9:24pm

BYD posts record Q4 profit on robust sales
SHANGHAI/HONG KONG (Reuters) - BYD Co, the Chinese car and battery maker backed by U.S. billionaire Warren Buffett, posted a forecast-beating fourth-quarter result on Sunday, as Beijing's policy initiatives boosted demand in the world's largest car market.


14 Mar 2010 at 7:29pm

JP Morgan fund invests in China, India
HONG KONG (Reuters) - JP Morgan Asset Management has invested almost a quarter of its $860 million Asian infrastructure fund in China and India assets, as part of efforts to complete investments in the next two years.


14 Mar 2010 at 10:27pm

Australia tells Beijing to stay out of iron ore talks
CANBERRA (Reuters) - Australia on Monday told Beijing to stay out of sensitive iron price talks between Chinese steelmakers and Australian miners amid a report Premier Wen Jiabao had been asked to personally intervene.


14 Mar 2010 at 9:31pm

AIG holds back $21 million from FP unit payout: source
NEW YORK (Reuters) - American International Group Inc is holding back $21 million from retention bonuses due by Monday to current and former employees of its Financial Products unit, a source familiar with the matter said.


14 Mar 2010 at 10:15pm

Japan Post bought U.S. Treasuries in Oct-Dec: report
TOKYO (Reuters) - Japan Post Bank bought about 300 billion yen ($3.3 billion) in U.S. Treasuries in the October-December quarter, the first time the bank bought U.S. Treasuries since the start of its privatization process in October 2007, the Nikkei business daily said on Monday.


14 Mar 2010 at 7:46pm

Asset manager plans London listing of distressed debt fund
LONDON (Reuters) - Asset manager Neuberger Berman, which once belonged to failed investment bank Lehman Brothers, plans a London listing for its first fund dedicated to distressed debt, according to the Financial Times.


14 Mar 2010 at 9:56pm

BofA looking to expand business in China: report
NEW YORK (Reuters) - Bank of America Corp , the largest U.S. bank, plans to seek approval to expand its operations in China, the Wall Street Journal reported on Sunday, citing people familiar with the situation.


14 Mar 2010 at 7:16pm

Abu Dhabi SWF sees more global "uncertainty" in 2010
ABU DHABI (Reuters) - Abu Dhabi Investment Authority (ADIA), considered the world's largest sovereign wealth fund, said the global economy still faces "considerable uncertainty," in its first annual review aimed at enhancing transparency.


14 Mar 2010 at 6:51pm

Issue for Fed is not if, but when rates will go up
Federal Reserve policymakers may signal at their meeting this week how and when the improving economy will lead them to start raising record-low interest rates. Federal Reserve System - Interest rate - Economic - Central bank - Government
14 Mar 2010 at 1:10pm

Dodd including GOP financial regulation ideas
The senator trying to rewrite the nation's financial industry rules is dropping plans to create a stand-alone consumer financial protection agency. Financial services - Republican - United States - Regulation - Senate
14 Mar 2010 at 7:29pm

To investors Fed’s words, not actions matter
The stock market doesn't want any surprises from this week's Federal Reserve's meeting. Federal Reserve System - Stock market - Business - Investing - Stocks and Bonds
14 Mar 2010 at 2:35pm

Stocks end mixed after uneven economic data
Mixed economic reports held the stock market to only modest moves Friday but gains for the week were strong. Retail - Business - Investing - Stocks and Bonds - Equities
12 Mar 2010 at 4:35pm

Study: Hearts may swoon when stocks do
Stock market slides may hurt more than your savings. New research suggests they might prompt heart attacks. Stock market - Investing - Business - Stocks and Bonds - Equities
13 Mar 2010 at 4:54pm

Retail sales rise unexpectedly in February

Shoppers exit a Target store with their purchases Feb. 4 in Fairfax, Va. Sales at U.S. retailers rose unexpectedly in February despite a drop in vehicle purchases and inclement weather.Retail sales posted a surprising increase in February as consumers did not let major snowstorms stop them from storming the malls,

Retail - Business - United States - Retail Trade - Weather
12 Mar 2010 at 10:49am

Business sales rise to highest level since 2008
Business inventories were unexpectedly flat in January, while sales rose to their highest level since October 2008, government data showed on Friday. Business - Government - Inventory - Level - Wholesale
12 Mar 2010 at 9:06am

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12 Mar 2010 at 9:06am

Consumer sentiment dips amid job worries
U.S. consumer sentiment declined slightly in early March, with Americans less positive about the job outlook, a survey released on Friday showed. United States - Consumer Confidence Index - Economy - Home - Michigan
12 Mar 2010 at 10:26am

Oil production predicted to peak in 2014
Predicting the end of oil has proven tricky and often controversial, but Kuwaiti scientists now say that global oil production will peak in 2014. Extraction of petroleum - Business - Energy - Oil and Gas - Operating Companies
12 Mar 2010 at 1:55pm

New wave of foreclosures threatens market

While banks repossessed fewer homes in February than a month earlier, borrowers continued to fall behind on their payments, adding to the inventory of properties headed toward foreclosure that have yet to be put on the market, according to RealtyTrac.Swelling ranks of homeowners who are seriously delinquent but haven't yet lost their homes may soon lead to a new round of foreclosures.

Foreclosure - Real estate - Business - RealtyTrac - California
12 Mar 2010 at 4:52am

Policy ‘dove’ may be tapped for Fed vice chair
President Barack Obama wants to nominate Janet Yellen, the president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of the Federal Reserve. Barack Obama - Federal Reserve System - Janet Yellen - Central bank - United States
12 Mar 2010 at 2:53pm

Big majority wants Wall Street regulation
An overwhelming majority of Americans wants Wall Street subjected to tougher regulation in the aftermath of the bank bailout and the bonus scandals, according to a poll. Wall Street - United States - Business - Financial services - Banks and Institutions
11 Mar 2010 at 10:35am

Americans' wealth up for 3rd straight quarter
Americans regained more of their shrunken wealth last quarter, mainly because the economy boosted stock portfolios. But the gain was less than in the previous two quarters. United State - Business - Wealth - Recession - Republican
11 Mar 2010 at 5:14pm

New jobless claims fall less than expected
The number of U.S. workers filing new applications for unemployment insurance fell slightly less than expected last week, a government report showed on Thursday, hinting at a slow labor market recovery. United States - Jobless claims - Unemployment benefits - Labour economics - Business
11 Mar 2010 at 7:46am

Trade gap shrinks as auto, oil imports drop
The U.S. trade deficit unexpectedly shrank in January, reflecting a big drop in imports of oil and foreign cars. American exports also fell. Balance of trade - United States - Balance of payments - Business - International Business and Trade
11 Mar 2010 at 7:58am

Fed emerges from battle poised to be stronger
The Federal Reserve, still dusting itself off from a fight that threatened to trim its powers, could emerge from a overhaul of banking rules as the top cop over financial institutions. Federal Reserve System - Bank - Financial institution - Central bank - Finance
11 Mar 2010 at 6:28am

Senate takes a stab at financial reform
The head of a key banking panel is expected Monday to release a draft bill of sweeping regulatory changes aimed at warding off future collapses in the financial system.
13 Mar 2010 at 8:49am

Chinese leader decries calls to boost currency
China is bracing for another tough year despite economic growth, but opposes foreign pressure to appreciate the value of its currency, Premier Wen Jiabao said Sunday.
14 Mar 2010 at 7:51am

Is the Fed blowing bubbles?
Is the Federal Reserve forever blowing bubbles?
13 Mar 2010 at 9:22am

Yellen in line for Fed No. 2
San Francisco Federal Reserve Bank President Janet Yellen is the leading contender to be the next vice chairman of the central bank, a senior Obama administration official told CNN Friday.
12 Mar 2010 at 3:39pm

Mortgage help: 170,000 get aid
More than 170,000 troubled homeowners are breathing a lasting sigh of relief now that they've received permanent modifications under the Obama administration's foreclosure prevention program.
12 Mar 2010 at 5:29pm

Health care: Going from broken to broke
A few nights ago in the historic Renaissance Grand Hotel in St. Louis, Mo., President Obama reassured a crowd of Senator Claire McCaskill supporters that health-care reform wouldn't just be good for their health, it would be good for the health of the country: "I said at the beginning of this thing we would not do anything that adds to our deficit," he said to the clapping audience. "This plan does not do anything to add to this deficit. And that's how we should be operating."
12 Mar 2010 at 12:37pm

Exxon's growing reliance on expensive oil
Exxon Mobil outlined plans Thursday that rely heavily on oil from tough to reach places, extracting it from the depths of the ocean, the frozen Arctic and the tar sands in Canada's frozen tundra.
12 Mar 2010 at 8:05am

Give money to a jobless friend?
Dear Annie: I have a very close friend who's been out of work for almost a year now. He was my college roommate: I've known him for almost 20 years and, for about half that time, we worked at the same company. Then he got laid off. Last week one of my kids told me that my friend's youngest son missed out on a ski trip with the rest of his class because of the expense, even though the cost was minimal (to those of us with jobs).
12 Mar 2010 at 8:31am

Some nurses paid more than family doctors
Despite the growing shortage of family doctors in the United States, medical centers last year offered higher salaries and incentives to specialist nurses than to primary care doctors, according to an annual survey of physicians' salaries.
12 Mar 2010 at 5:42am

Trying to flunk banks out of college
President Obama has been waging a war with banks over who gets to dole out cheap student loans backed by the federal government.
12 Mar 2010 at 11:13am

Households recovering from economic freefall
The net worth of American households increased slightly during the final three months of 2009, the Federal Reserve said Thursday.
11 Mar 2010 at 11:56am

Financial reform bill coming from Democrats
Senate Democrats on banking panel plan to release and start working on a financial overhaul bill next week, without Republican support.
11 Mar 2010 at 1:22pm

Why the U.S. can't inflate its way out of debt
It's dawning on people that getting a handle on burgeoning U.S. debt will be a long and hard process.
11 Mar 2010 at 12:34pm

Retail Sales
April 14
13 Mar 2010 at 4:05pm

Job Growth
April 2
13 Mar 2010 at 4:04pm

Manufacturing (ISM)
April 1
13 Mar 2010 at 4:01pm

GDP
March 26
28 Feb 2010 at 4:55pm

Consumer Confidence
March 30
28 Feb 2010 at 5:01pm

Home Prices
March 30
28 Feb 2010 at 4:59pm

Inflation (CPI)
March 18
25 Feb 2010 at 2:00pm

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