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Massey Energy's Blankenship: No shame, but plenty of blame (Jul-24, 23:00 EDT )-- If Don Blankenship had any sense of shame, he'd crawl into a mine and hide. Massey Energy - Technology - Energy - Education - Oceania
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U.S. housing slump continues, but D.C. area is doing better (Jul-23, 23:00 EDT )-- The housing bust isn't over, but the worst is past, according to economists participating in a U.S. Chamber of Commerce panel this week. Housing - Real estate - Business and Economy - Affordable and Low Income Housing - Property
Geithner says economy gradually getting better (AP) (Jul-23, 19:46 EDT )-- AP - Treasury Secretary Tim Geithner says the economy is "gradually getting better" and "that's very encouraging."
Seven banks fail Europe stress test (Reuters) (Jul-23, 18:11 EDT )-- Reuters - Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), much less than expected, confirming fears the continent's long-awaited stress test was too soft.
U.S. trims '10 deficit forecast as economy faces headwinds (Reuters) (Jul-23, 17:02 EDT )-- Reuters - The Obama administration warned on Friday the U.S. economy had encountered "strong headwinds" and the country's fiscal challenge remained grim, but it lowered an estimate for the budget deficit this year.
Moody's to review Amphenol for possible upgrade (AP) (Jul-23, 16:56 EDT )-- AP - Moody's Investors Service said Friday that it has placed Amphenol Corp.'s credit rating on review for a possible upgrade due to the electric cable maker's relatively quick recovery from the recession.
Forecast: Federal budget gap will exceed $1.4 trillion in 2010, 2011 (Jul-23, 15:57 EDT )-- A new White House forecast predicts that the federal budget deficit, which hit a record $1.4 trillion last year, will exceed that figure this year and again in 2011. Deficit - United States - Economic - Government - National Budget
Seven banks fail Europe test (Reuters) (Jul-23, 15:46 EDT )-- Reuters - Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), much less than expected, confirming fears the continent's long-awaited stress test was too soft.
Ford reaping solid profits after turnaround (AP) (Jul-23, 15:27 EDT )-- AP - Four years ago, Ford mortgaged everything down to the blue oval logo to save itself. Now, even as Americans remain skittish about the economy, it's reaping big rewards and stealing business from stumbling rivals.
U.S. trims '10 deficit forecast (Reuters) (Jul-23, 15:11 EDT )-- Reuters - The Obama administration warned on Friday the U.S. economy had encountered "strong headwinds" and the country's fiscal challenge remained grave, but it lowered an estimate for the budget deficit this year.
White House projects lower 2010 budget deficit (AFP) (Jul-23, 14:59 EDT )-- AFP - US President Barack Obama's administration on Friday lowered its 2010 budget deficit estimate to 1.471 trillion dollars or 10 percent of gross domestic product.
Forecast: Federal budget deficit will exceed $1.4T in 2010, 2011 (Jul-23, 14:58 EDT )-- The federal budget deficit, which hit a record $1.4 trillion last year, will exceed that figure this year and again in 2011, according to a White House forecast released Friday. Deficit - United States - Economic - Government - National Budget
Jobless bro OK with Boehner's benefits 'no' vote (AP) (Jul-23, 14:35 EDT )-- AP - A brother of U.S. House Republican leader John Boehner (BAY'-nur) would have seen his unemployment benefits dry up if the congressman had succeeded in his push to defeat an extension-of-benefits bill passed this week.
Stress test of Europe's finances finds most major banks in good health (Jul-23, 14:34 EDT )-- LONDON -- A broad probe into the health of Europe's financial sector found virtually every major bank in the region fit to withstand severe economic shocks and declared only a handful of smaller institutions at risk. European Union - Mental...
Obama asks Senate to pass small business jobs plan (Reuters) (Jul-23, 14:20 EDT )-- Reuters - President Barack Obama urged the Senate on Friday to complete work on a small-business jobs plan that has been a subject of partisan wrangling but could come up for a vote within the next few days.
A look at global economic developments (AP) (Jul-23, 14:00 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Friday:
Pay czar: 17 bailed-out banks overpaid executives (Jul-23, 13:46 EDT )-- The government's pay czar announced Friday that 17 companies benefiting from federal bailout money handed out $1.6 billion in excess executive pay at the height of the financial crisis. The firms include Citigroup, Goldman Sachs and Bank of America. ...
Rushed effort to prevent California county bankruptcy (Reuters) (Jul-23, 13:30 EDT )-- Reuters - California officials are scrambling to find a way to bolster the finances of a rural, remote county to stop it from declaring bankruptcy.
First Person: A mortgage writer's case against the new rules (The Newsroom) (Jul-23, 13:09 EDT )-- The Newsroom - Recent Capitol Hill rhetoric about greedy lenders and a Wall Street run amok implies all mortgage lenders are thieves and scoundrels.
Public sector losing jobs in this recession: report (Reuters) (Jul-23, 13:05 EDT )-- Reuters - State and local governments have cut fewer jobs than the private sector during the recession, but public education is still facing its worst job losses in 30 years, according to a report.
Obama praises wins, says businesses need help (AP) (Jul-23, 12:09 EDT )-- AP - President Barack Obama on Friday proclaimed a week of "enormous progress" in fixing economic problems and cracking down on Wall Street, prodding the Senate to do even more by passing tax credits for small businesses.
Obama pledges to up AIDS fight despite tough times (Reuters) (Jul-23, 09:50 EDT )-- Reuters - President Barack Obama pledged on Friday to redouble efforts to fight HIV and AIDS through his global health initiative, despite dealing with economic hard times in the wake of a global recession.
Ford posts another quarterly profit as sales climb (AP) (Jul-23, 09:49 EDT )-- AP - Ford Motor Co. posted a strong second-quarter profit Friday but trimmed its U.S. sales forecast and predicted weaker results in the second half as the economy slowly recovers.
Manufacturers continue streak of profit beats (Reuters) (Jul-23, 09:45 EDT )-- Reuters - Manufacturers Honeywell International Inc , Ingersoll-Rand Plc and Dover Corp posted better-than-expected results on Friday, saying they were increasingly confident in the economic recovery.
Treasury announces sale of more Citigroup stock (AP) (Jul-23, 08:21 EDT )-- AP - The Treasury Department said it will sell 1.5 billion shares of Citigroup stock over the next two months, the latest effort to recoup money from the government's $700 billion financial bailout.
Crunch time for Europe's banking credibility (Reuters) (Jul-23, 07:52 EDT )-- Reuters - Europe's attempt to restore confidence in its banks comes to a head on Friday with widespread expectation that up to 10 lenders will fail the test and have to raise capital.
Scores line up for loan help in D.C. (Jul-23, 07:47 EDT )-- More than 160 homeowners lined up in downtown Washington before dawn Friday in hopes of obtaining better terms on their home loans with help from the housing advocacy group Neighborhood Assistance Corporation of America. Loan - Financial Services...
Oil spill work on hold as Bonnie approaches (Jul-23, 07:39 EDT )-- With a tropical storm approaching, hundreds of workers and more than a dozen vessels will begin moving from the Deepwater Horizon blowout site Friday, stopping work on the long-awaited final "kill" of the well for more than a week. Gulf of Mexico...
Tropical storm Bonnie 2010: Oil spill work on hold as system approaches (Jul-23, 07:39 EDT )-- With tropical storm Bonnie approaching, hundreds of workers and more than a dozen vessels will begin moving from the Deepwater Horizon blowout site Friday, stopping work on the long-awaited final "kill" of the well for more than a week. Gulf of...
Obama acknowledges economic stress not so long ago (AP) (Jul-23, 06:29 EDT )-- AP - President Barack Obama says he can relate to the plight of Americans striving in the struggling economy to pay bills while saving for their kids' education and retirement.
Obama acknowledges economic stress not so long ago (AP) (Jul-23, 06:29 EDT )-- AP - President Barack Obama says he can relate to the plight of Americans striving in the struggling economy to pay bills while saving for their kids' education and retirement.
German business confidence rises sharply (AP) (Jul-23, 05:30 EDT )-- AP - Germany's business confidence is continuing its unexpected upward trend in July, showing the biggest increase since the country's reunification in 1990, according to a closely watched business climate index released Friday.
UK GDP up unexpectedly strong 1.1 pct in Q2 (AP) (Jul-23, 04:49 EDT )-- AP - Britain's economy grew by 1.1 percent in the second quarter, the Office for National Statistics said Friday, surprising markets that had expected more modest expansion.
UK economy grew twice as fast as expected in Q2 (Reuters) (Jul-23, 04:40 EDT )-- Reuters - Britain's economy grew almost twice as fast as expected in the second quarter of this year propelled by a sharp pick-up in services and the biggest rise in construction in almost 50 years.
Who they are (Jul-22, 23:00 EDT )-- Deputy Treasury secretary, 48 -- Education: Yale, BA; University of Oxford, MS; Yale Law, JD. -- What he does: Second in command at Treasury. Works directly for Treasury Secretary Timothy F. Geithner. -- Prior experience: In 2008, joined the White...
How the U.S. Postal Service can save itself (Jul-22, 23:00 EDT )-- The U.S. Postal Service should develop a workable plan for the digital age. U.S. Postal Service - United States - Government - United States Postal Service - Independent
Administration proposal aims to tighten oversight of for-profit colleges (Jul-22, 23:00 EDT )-- Education Secretary Arne Duncan proposed Thursday that for-profit colleges be required to show through certain new measures that their graduates are not saddled with too much debt, an initiative he said was meant to protect students from "a few bad...
Feinberg report to criticize 17 bailed-out firms over pay (Jul-22, 23:00 EDT )-- More than a dozen firms that received federal bailout money handed out $1.6 billion in excess executive compensation at the height of the financial crisis, according to a report to be released Friday by the government's "pay czar." Kenneth...
Retailers hold Black Friday-style summer sales for Christmas shoppers (Jul-22, 23:00 EDT )-- Looks as though Santa's summer vacation is getting cut short. Black Friday - Business - Christmas - Holidays - Consumer Goods and Services
Local Digest (Jul-22, 23:00 EDT )-- Capital One of McLean posted a second-quarter profit Thursday as it set aside less money to cover bad loans. For the three months ending June 30, Capital One earned $608 million ($1.33 a share). That compared with a loss of $277 million (66 cents), a...
Key lieutenants behind scenes ensured passage of financial regulation overhaul (Jul-22, 23:00 EDT )-- When Neal Wolin walked into the House speaker's office in December, landmark legislation to reshape the nation's financial regulations had been working its way through the House for more than six months. Top Obama administration officials had been...
New financial rulebook tangles loan bundlers, ratings agencies (Jul-22, 23:00 EDT )-- Merely days old, the financial regulatory law has already generated its first real-world hiccup. Business - United States - Ruby - Old School (film) - Publishing
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Salazar pledges to limit Interior's revolving door (Jul-22, 23:00 EDT )-- Interior Secretary Ken Salazar told lawmakers Thursday that he will use his regulatory authority to impose strict new rules to remedy the revolving-door problems in his department. Business - Petroleum industry - Barack Obama - United States...
In China, an oil spill and a low-tech cleanup (Jul-22, 23:00 EDT )-- BEIJING -- Hundreds of firefighters and civilian volunteers used bare hands, chopsticks and plastic garbage bags Thursday to wage a low-tech battle against a giant oil slick spreading off China's northeastern coast. Oil spill - Environment -...
Treasury Secretary Geithner says tax cuts for rich should expire (Jul-22, 23:00 EDT )-- Treasury Secretary Timothy F. Geithner on Thursday rejected calls from some Democrats to extend tax cuts for the nation's top earners past their 2010 expiration date, saying the fragile recovery is no reason to avoid raising taxes on the wealthy. ...
Sanctions slow development of huge natural gas field in Iran (Jul-22, 23:00 EDT )-- ASALOUYEH, IRAN -- Increasingly tough international sanctions over Iran's nuclear program have significantly slowed the county's most prestigious economic project, scheduled to rake in more than $130 billion in annual sales of natural gas after its...
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