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Japan retail sales up 3.2 percent in June (AP) (Jul-28, 21:52 EDT )-- AP - Japan's retail sales in June rose for the sixth straight month, but the pace of growth is slowing.
Jobless rate to stay high: former Fed No. 2 (Reuters) (Jul-28, 17:46 EDT )-- Reuters - The United States will suffer high unemployment for some time as it slowly recovers from the deep recession that ended in 2009, a former second in command at the Federal Reserve said on Wednesday.
Economic Expansion Cooling, Fed Says (Investor's Business Daily) (Jul-28, 17:35 EDT )-- Investor's Business Daily - Economic activity continued to increase "on balance" from early June to mid-July, though it stalled or slowed in several districts, the Federal Reserve said Wednesday in its beige book report.
Nvidia cuts its 2Q sales forecast; shares fall (AP) (Jul-28, 17:07 EDT )-- AP - Nvidia Corp. lowered its sales forecast for its second quarter Wednesday, blaming a shift toward lower-priced chips as well as economic weakness in Europe and China. Its shares fell in aftermarket activity.
Schwarzenegger declares California fiscal emergency (Reuters) (Jul-28, 16:55 EDT )-- Reuters - California Governor Arnold Schwarzenegger declared a state of emergency over the state's finances on Wednesday, raising pressure on lawmakers to negotiate a state budget that is more than a month overdue and will need to close a $19 billion...
Highlights from the Fed's latest economic survey (AP) (Jul-28, 16:31 EDT )-- AP - Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.
US Fed sees 'modest' recovery faltering in some regions (AFP) (Jul-28, 16:26 EDT )-- AFP - The "modest" US economic recovery is slowing in some parts of the country, the Federal Reserve warned in its latest Beige Book report published Wednesday.
Durable goods orders fall while business spending up (Reuters) (Jul-28, 15:51 EDT )-- Reuters - New orders for long-lasting manufactured goods fell unexpectedly for a second straight month in June, posting the largest drop since August in a sign economic recovery cooled in the second quarter.
Unemployment rises in 75 pct of metro areas (AP) (Jul-28, 15:50 EDT )-- AP - The unemployment rate in about three-quarters of the nation's largest metro areas rose last month as nearly one million teenagers entered the work force looking for summer jobs.
Treasury says latest mortgage-aid report flawed (AP) (Jul-28, 15:46 EDT )-- AP - The Obama administration is revising the latest report on its troubled mortgage-relief program, and the changes are likely to show a greater number of borrowers facing foreclosure after having their loans modified.
Goldman and Citigroup to sell $788.5 million CMBS (Reuters) (Jul-28, 15:41 EDT )-- Reuters - Goldman Sachs Group Inc and Citigroup Inc will sell a $788.5 million commercial mortgage-backed security, according to a term sheet sent to investors, in the largest deal of its kind since volume began crawling back after the financial crisis.
Fed survey: Recovery slows in some places (AP) (Jul-28, 15:35 EDT )-- AP - The pace of economic activity has slowed or held steady in parts of the country, revealing a choppy path back to health.
Obama presses lawmakers on small-business jobs plan (Reuters) (Jul-28, 15:32 EDT )-- Reuters - President Barack Obama on Wednesday kept up his push for U.S. Senate approval of a $30 billion small-business lending package he said would generate jobs, and urged Republicans to stop blocking the plan for political gain.
Mortgage lenders must register in database (AP) (Jul-28, 15:19 EDT )-- AP - Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble.
California governor declares state of fiscal emergency (Reuters) (Jul-28, 15:18 EDT )-- Reuters - Increasing pressure on lawmakers to negotiate a state budget that closes a $19 billion shortfall, California Governor Arnold Schwarzenegger declared a state of emergency over the state's finances on Wednesday.
Obama calls for GOP to rally behind small-business loans (Jul-28, 15:00 EDT )-- President Obama said Wednesday that Republicans should join Democrats in passing legislation to help provide loans to small businesses. Small business - Business - Barack Obama - United States - President
Obama calls for GOP to rally behind small-business loans (Jul-28, 14:53 EDT )-- Small business - Business - Barack Obama - United States - President
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Summary Box: Mortgage applications down percent (AP) (Jul-28, 14:47 EDT )-- AP - MORTGAGE APPLICATIONS DOWN: Applications for home loans fell 4.4 percent last week despite the lowest mortgage rates in decades, according to the Mortgage Bankers Association.
Summary Box: Unemployment up in most metro areas (AP) (Jul-28, 14:42 EDT )-- AP - WIDESPREAD INCREASE: The unemployment rate in about three-quarters of the nation's largest metro areas rose last month. That reverses the trend of the previous three months, when joblessness fell in most metro areas.
Obama pushes business bill as an all-American goal (AP) (Jul-28, 14:40 EDT )-- AP - President Barack Obama on Wednesday cast his latest economic pitch as a matter of patriotism, urging the Senate to ditch its partisan mode at least long enough to pass a package of tax cuts and loan relief for small businesses. "This is as...
Fed says some districts report slowing economy (Reuters) (Jul-28, 14:38 EDT )-- Reuters - The economy kept growing overall in recent weeks, but unevenly and it actually slowed in a few regions as housing markets softened after the end of a popular tax break, the Federal Reserve said on Wednesday.
Obama pleads with Republicans on small business bill (AFP) (Jul-28, 14:25 EDT )-- AFP - US President Barack Obama pleaded with his Republicans foes Wednesday not to block his bid to aid small businesses, an economic sector he called "as American as apple pie."
US Republicans assail trimmed Democratic energy plan (AFP) (Jul-28, 14:20 EDT )-- AFP - US Senators feuded Wednesday over whether oil firms should have to pay for all economic damages from spills like the Gulf of Mexico disaster, a dispute that could sink a pared-back energy bill.
Senate panel approves Yellen as Fed vice chair (AP) (Jul-28, 14:06 EDT )-- AP - A Senate panel on Wednesday approved three of President Barack Obama's picks for the Federal Reserve, including his nomination of Janet Yellen to be the central bank's second-highest-ranking official.
US Fed sees 'modest' recovery faltering in some regions (AFP) (Jul-28, 13:18 EDT )-- AFP - The "modest" US economic recovery is slowing in some parts of the country, the Federal Reserve warned in its latest Beige Book report published Wednesday.
California city OKs tax rates for marijuana (Reuters) (Jul-28, 12:47 EDT )-- Reuters - Anticipating California voters will back a November ballot measure to legalize casual marijuana use, officials in Oakland have approved two tax rates on pot sales in their city, already a hub of the state's medicinal marijuana scene.
Buy, Sell, or Hold Research In Motion? (The Motley Fool) (Jul-28, 12:34 EDT )-- The Motley Fool - Right now, you can't go through a list of news articles for Research In Motion (Nasdaq: RIMM - News) without seeing gloomy headlines such as "Why RIM is a Risky Investment" (TheStreet.com) and "BlackBerry's Era May Be Ending" (The New...
5 Essential Components of a Retirement Plan (U.S. News & World Report) (Jul-28, 12:12 EDT )-- U.S. News & World Report - When most people plan for retirement they think about saving and investing so they have a large nest egg to draw upon once they stop working. Investing is certainly important, but it is not the whole story. A secure...
Summary Box: Kodak posts 2Q loss (AP) (Jul-28, 09:44 EDT )-- AP - RESULTS: Eastman Kodak Co. posted a second-quarter loss of $168 million, or 63 cents per share, compared with a loss of $189 million, or 70 cents a share, in the recession-mired April-June period of 2009. Sales dipped 11 percent to $1.57 billion.
WellPoint 2Q profit rises 4 pct, outlook increased (AP) (Jul-28, 09:40 EDT )-- AP - WellPoint Inc. said its second-quarter net income rose 4 percent, as a boost from lower-than-expected leftover claims helped counter a hit the health insurer took in California, where it delayed premium hikes after taking heavy criticism.
Orders for big-ticket goods fall 1 percent in June (AP) (Jul-28, 09:32 EDT )-- AP - Orders to U.S. factories for big-ticket manufactured goods fell in June as demand for commercial aircraft plummeted. But businesses increased spending on capital goods for a second straight month, a sign that manufacturing continues to help keep...
Mortgage applications fall 4.4 percent last week (AP) (Jul-28, 08:30 EDT )-- AP - Applications for home loans fell last week despite the lowest mortgage rates in decades.
Durable goods orders fall as growth picture dims (Reuters) (Jul-28, 08:12 EDT )-- Reuters - New orders for long-lasting U.S. manufactured goods unexpectedly fell for a second straight month in June, posting their largest decline since August, further evidence economic growth cooled in the second quarter.
(AP) (Jul-28, 07:32 EDT )-- AP - Durable goods orders fall by 1 percent in June as sputtering economy drags down demand.
Mortgage demand dips on rising rates (Reuters) (Jul-28, 06:37 EDT )-- Reuters - U.S. home loan demand cooled last week as rising mortgage rates curbed refinancing requests that had soared to a 14-month high, the Mortgage Bankers Association said on Wednesday.
Mortgage demand dips on rising rates (Reuters) (Jul-28, 06:37 EDT )-- Reuters - U.S. home loan demand cooled last week as rising mortgage rates curbed refinancing requests that had soared to a 14-month high, the Mortgage Bankers Association said on Wednesday.
Bank of England chief says stimulus still needed (AP) (Jul-28, 05:27 EDT )-- AP - The governor of the Bank of England said Wednesday that the need to stimulate the economy still takes precedence over concerns about high inflation at a time when the outlook for the global economy remains uncertain.
IMF gives ground on yuan exchange rate debate (Reuters) (Jul-27, 23:54 EDT )-- Reuters - The International Monetary Fund has chosen not to call the yuan "substantially" undervalued, a move that recognizes China's efforts to free up its exchange rate and avoids friction with an increasingly influential shareholder.
Census data reveal broad differences among states in rates of uninsured (Jul-27, 23:00 EDT )-- New census data released Tuesday confirm a huge spread in the rate of uninsured from state to state and the big difference in impact that can be expected as a result of the health-care overhaul recently passed by Congress. Census - Government -...
Criminal probe of oil spill to focus on 3 firms and their ties to regulators (Jul-27, 23:00 EDT )-- A team of federal investigators known as the "BP squad" is assembling in New Orleans to conduct a wide-ranging criminal probe that will focus on at least three companies and examine whether their cozy relations with federal regulators contributed to...
The ruling and the bill (Jul-27, 23:00 EDT )-- The Supreme Court's Citizens United v. Federal Election Commission ruling: Legal Information - Law - Sex Offenses - Crime - Child Pornography
BP names Dudley as CEO, announces $17 billion loss (Jul-27, 23:00 EDT )-- BP gave investors a glimpse of its future Tuesday, one that will feature a new American chief executive, slimmed-down operations, and $32.2 billion or more in payments to clean up and compensate people affected by the massive oil spill in the Gulf of...
Bill on political ad disclosures falls a little short in Senate (Jul-27, 23:00 EDT )-- Senate Republicans on Tuesday blocked legislation requiring fuller disclosure of the money behind political advertising, derailing a major White House initiative and virtually ensuring an onslaught of attack ads during this year's midterm election...
Strict immigration rules may threaten Japan's future (Jul-27, 23:00 EDT )-- TOKYO -- Her new country needs her, her new employer adores her, and Joyce Anne Paulino, who landed here 14 months ago knowing not a word of the language, can now say in Japanese that she'd like very much to stay. But Paulino, 31, a nurse from the...
BP to cut U.S. tax bill by $10 billion because of losses in gulf spill (Jul-27, 22:56 EDT )-- BP said Tuesday that it plans to cut its U.S. tax bill by $9.9 billion, or about half the amount pledged to aid victims of the disaster, by deducting costs related to the oil spill. BP - Tax - United States - Oil spill - Gulf of Mexico
US faces prolonged sluggish growth prospects (AFP) (Jul-27, 22:06 EDT )-- AFP - A year after bouncing back from a brutal recession, the US economy is losing steam and may enter a long period of sluggish growth inadequate to ease high unemployment, analysts warn.
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