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U.S. Foodservice executive to face new trial after conviction is overturned (Jul-1, 23:00 EDT )-- A federal appeals court ordered a new trial Thursday for the former chief marketing officer of U.S. Foodservice, saying errors by a judge make it necessary to dissolve the conviction and the seven-year prison sentence that followed. Trial - U.S....
Toyota's latest auto safety problem: potentially bad engines (Jul-1, 23:00 EDT )-- Toyota Motor said Thursday that about 270,000 cars sold worldwide, including luxury Lexus sedans, have potentially faulty engines, in the latest quality issue to confront the Japanese automaker after a string of major recalls. Toyota - Lexus -...
Big Three auto sales down in June (Jul-1, 23:00 EDT )-- Detroit's Big Three automakers saw June sales drop between 12 and 13 percent as buyers pulled back from the previous month, suggesting that the hot May sales may have been an aberration. So automakers on Thursday were touting their year-over-year June...
Patton Boggs lobbying firm buys group run by Lott, Breaux (Jul-1, 23:00 EDT )-- Washington's biggest lobbying firm just got a lot bigger: Patton Boggs on Thursday announced the purchase of the Breaux-Lott Leadership Group , a smaller, family-style firm run by two of the Senate's most influential alumni. Patton Boggs -...
US recovery faces litmus test (AFP) (Jul-1, 21:18 EDT )-- AFP - The patchy US economic recovery faces a crucial litmus test Friday when fresh unemployment figures are released, but few expect positive results.
BOJ likely to revise up Japan economic forecast: report (Reuters) (Jul-1, 20:07 EDT )-- Reuters - The Bank of Japan is expected to revise up its economic forecast for the year to March 2011 at its next policy meeting on July 14-15, the Nikkei newspaper reported on Friday.
US lawmakers extend jobless benefits (AFP) (Jul-1, 20:03 EDT )-- AFP - The US House of Representatives extended federal unemployment benefits through November 30, with the Senate now set to take up the controversial measure.
New state budget plans burdened by recession, pension costs (The Christian Science Monitor) (Jul-1, 18:53 EDT )-- The Christian Science Monitor - Across the US, states have launched into their 2011 fiscal year saddled with many of the same budget problems that they had the year before: low tax revenues, high recession-related expenses, and uncertainty about how to...
US auto sales, in weak recovery, slow down in June (AP) (Jul-1, 17:12 EDT )-- AP - Americans' enthusiasm for new cars and trucks cooled in June on worries about the economy, signaling that the auto industry's recovery is far from certain.
Business Highlights (AP) (Jul-1, 17:05 EDT )-- AP - New jobless claims rise in sign of weak job market
Summary Box: Mortgage rates drop to 4.58 pct (AP) (Jul-1, 16:59 EDT )-- AP - SINKING RATES: Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week, the lowest on records dating back to 1971. That's down from the previous record of 4.69 percent set last week.
June auto sales stall amid fears recovery is sputtering (AFP) (Jul-1, 16:57 EDT )-- AFP - US auto sales stalled in June amid fears that the fragile economic recovery is sputtering, industry data showed Thursday.
Summary Box: Reports show economy weakening (AP) (Jul-1, 16:55 EDT )-- AP - BAD REPORTS: Several disappointing reports Thursday heightened fears that the economic recovery is fizzling. Jobless benefits claims rose, home sales are plummeting and manufacturing growth slowed.
Evidence mounts that recovery is hitting the skids (AP) (Jul-1, 16:21 EDT )-- AP - The economic rebound is stalling.
Evidence mounts that recovery is hitting the skids (Jul-1, 16:21 EDT )-- WASHINGTON -- The economic rebound is stalling. A raft of weak new reports Thursday provided the strongest evidence yet that the recovery is slowing and added to concerns that the nation could be on its way back into recession. Business -...
So what exactly is a 'double-dip' recession? (AP) (Jul-1, 16:03 EDT )-- AP - Concerns are rising that the economy is at risk of slipping into a "double-dip" recession.
Sallie Mae to relocate to Delaware (AP) (Jul-1, 15:52 EDT )-- AP - Sallie Mae, the nation's largest student lender, has decided to move its corporate headquarters from Reston, Va., to Delaware.
Banks borrow slightly more from Fed (AP) (Jul-1, 15:52 EDT )-- AP - Banks borrowed slightly more last week from the Federal Reserve's emergency lending program, but are still well below levels seen during the 2008 financial crisis.
Jobless claims and factory data fan recovery fears (Reuters) (Jul-1, 15:44 EDT )-- Reuters - New claims for U.S. jobless benefits unexpectedly rose last week, while growth in the manufacturing sector slowed in June, heightening fears the country's economic recovery was stalling.
Copper, other metals fall on discouraging news (AP) (Jul-1, 15:39 EDT )-- AP - Copper and other industrial metals fell Thursday after discouraging housing and manufacturing news provided more evidence of that the economic recovery may be stalling.
Dollar falls on disappointing US economic reports (AP) (Jul-1, 15:34 EDT )-- AP - The dollar slid against major currencies Thursday on disappointing U.S. economic reports and signs that European banks are less strapped for cash than feared.
Is Your Portfolio Ready for A Double-Dip Recession? (U.S. News & World Report) (Jul-1, 15:18 EDT )-- U.S. News & World Report - With the threat of a double-dip recession in the near future, investors should position their portfolios to protect themselves from another downturn. "Now is not the time for heroic bets," says Rob Arnott, chairman of...
Weak economic data suggest recovery is fizzling (AP) (Jul-1, 14:58 EDT )-- AP - Fears that the economic recovery is fizzling grew Thursday after the government and private sector issued weak reports on a number of fronts.
June nonfarm jobs seen falling 110,000 on census (Reuters) (Jul-1, 14:56 EDT )-- Reuters - U.S. jobless numbers likely fell in June for the first time this year, a Reuters poll showed. The key monthly unemployment report will be released on Friday.
House passes jobless benefits extension (Reuters) (Jul-1, 14:52 EDT )-- Reuters - The House of Representatives approved on Thursday an extension of jobless benefits for the long-term unemployed amid signs of a continued weak U.S. jobs market, but its fate appears uncertain in the Senate.
Oil prices fall on disappointing economic news (AP) (Jul-1, 14:30 EDT )-- AP - Oil prices tumbled after disappointing economic news triggered worries about whether demand would pick up at all during the typically busy summer season.
GM sales drop 13 percent but rise year-over-year (Jul-1, 14:30 EDT )-- Detroit's Big Three automakers saw June sales drop between 12 and 13 percent as auto buyers pulled back last month. General Motors - Business - Autos - Salesmanship - Marketing and Advertising
Featured Advertiser (Jul-1, 14:30 EDT )
A look at global economic developments (AP) (Jul-1, 13:34 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Thursday:
June Auto Sales: Chrysler (AP) (Jul-1, 12:57 EDT )-- AP - Chrysler said its June sales jumped 35 percent over last year, but like other automakers, it saw its results sag from May as the economy stumbled.
Toyota says US sales fall 14 pct from May to June (AP) (Jul-1, 12:51 EDT )-- AP - Toyota says its U.S. sales fell 14 percent from May to June as questions mount about the health of the broader economy.
Press group wants Fed's bank aid disclosed faster (AP) (Jul-1, 12:41 EDT )-- AP - A provision in Congress' proposed overhaul of financial regulation that aims to shed more light on the work of the Federal Reserve is drawing fire for allowing the central bank to keep some transactions under wraps for up to two years.
Economic data point to stimulus (Jul-1, 11:11 EDT )-- A raft of bad economic data out this morning pushed Wall Street toward its third bad day in a row, though stocks have trimmed some of their earlier losses. Business - Math - Number Theory - Telecommunications - Dow Jones Industrial Average
5 Questions for the Second Half of 2010 (The Motley Fool) (Jul-1, 11:07 EDT )-- The Motley Fool - We're halfway through a turbulent year, and the market's rocky ways are likely to continue.
General Motors June sales drop 13 percent from May (AP) (Jul-1, 10:03 EDT )-- AP - General Motors Co. says its sales dropped nearly 13 percent from May to June, another sign that the economy is stalling.
Mortgage rates drop to another low, 4.58 pct. (AP) (Jul-1, 09:59 EDT )-- AP - Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren't rushing to refinance their loans or buy homes.
Boost in Ga. ports activity encouraging (AP) (Jul-1, 09:48 EDT )-- AP - Increased traffic at Georgia's ports is being seen as a sign that the economy is picking up.
Construction spending dips after 2 months of gains (AP) (Jul-1, 09:42 EDT )-- AP - Construction spending declined in May as residential building fell after a popular homebuyers' tax credit expired.
Manufacturing slows in June, still shows growth (AP) (Jul-1, 09:33 EDT )-- AP - An industry trade group's manufacturing index slipped in June, but was still at a level that suggests growth in the industrial sector.
Treasury gets $10.5B from Citigroup share sales (AP) (Jul-1, 09:25 EDT )-- AP - The Treasury Department said Thursday it has raised $10.5 billion from the sale of a total of 2.6 billion shares of Citigroup stock it received as part of the government's rescue of the bank.
Instant View: Factory, housing data disappoint investors (Reuters) (Jul-1, 09:21 EDT )-- Reuters - A key survey of U.S. manufacturing activity fell to its lowest in six months, while contracts for pending sales of previously owned homes plunged a record 30 percent in May, far more than expected,
Pending home sales plunge record 30 percent (Reuters) (Jul-1, 09:18 EDT )-- Reuters - Contracts for pending sales of previously owned homes plunged a record 30 percent in May, far more than expected, after a popular tax credit expired at the end of the prior month, a survey from the National Association of Realtors showed on...
(AP) (Jul-1, 09:04 EDT )-- AP - Trade group says its manufacturing index slows in June, but still signals growth.
US jobless claims surge more than expected (AFP) (Jul-1, 08:52 EDT )-- AFP - New claims for US unemployment benefits jumped more than expected last week, official data showed Thursday on the eve of the key June jobs report.
New jobless claims rise in sign of weak job market (AP) (Jul-1, 08:44 EDT )-- AP - Initial claims for unemployment benefits rose for the second time in three weeks last week. The potential rise in layoffs comes as Congress remains stuck at an impasse over extending federal jobless aid.
Surprise rise in jobless claims stokes recovery worries (Reuters) (Jul-1, 08:05 EDT )-- Reuters - New claims for state unemployment aid unexpectedly rose last week, heightening fears the U.S. economic recovery is stalling.
1.3 million unemployed won't get benefits restored (AP) (Jul-1, 08:00 EDT )-- AP - More than 1.3 million laid-off workers won't get their unemployment benefits reinstated before Congress goes on a weeklong vacation for Independence Day.
Asia, European growth coming off the boil (Reuters) (Jul-1, 06:44 EDT )-- Reuters - Asian and European manufacturing output growth cooled further in June, with China hitting its slowest pace in more than a year -- further evidence that the global economic recovery is moderating.
Fiorina declares stimulus program a failure (AP) (Jul-1, 06:28 EDT )-- AP - Republican Senate candidate Carly Fiorina is maintaining the federal government's $862 billion stimulus package did little for job-creation.
German consumer spending shows signs of life (AP) (Jul-1, 04:18 EDT )-- AP - A small rise in retail sales offered a hopeful sign Thursday for Germany's long-sluggish domestic demand, even as the country's economy minister mounted a robust defense of its export-heavy recipe for success.
Jobless aid stalls in Senate; home buyers get more time (Jun-30, 23:00 EDT )-- The Senate failed once again late Wednesday to advance a plan to restore jobless benefits for people out of work more than six months, leaving millions of unemployed workers in limbo until after the July 4 recess. Senate - United States -...
Change in IRS rules could block rewards for whistleblowers (Jun-30, 23:00 EDT )-- Congress has called on the Internal Revenue Service to pay rewards to whistleblowers on the theory that they may be the agency's best hope for penetrating tax-evasion schemes, but a recent change in an IRS manual could in certain cases block those...
House passes financial overhaul; Senate leaders postpone vote (Jun-30, 23:00 EDT )-- The House approved new financial regulations Wednesday, but Senate leaders postponed a vote on the bill, preventing the landmark legislation from reaching President Obama's desk until at least mid-July. United States - Senate - Government -...
Influence Industry: U.S. honey industry asks FDA for national purity standard (Jun-30, 23:00 EDT )-- Washington is buzzing over an unusual lobbying push by the U.S. honey industry, which is asking the federal government for help amid lower domestic honey production and a flood of cheap imports from China. United States - Business - Honey -...
Obama administration unveils government health-care Web site (Jun-30, 23:00 EDT )-- Maybe you are a 21-year-old woman who has just graduated from college in Ohio and haven't found a job yet. Or you are a 49-year-old unemployed man with high blood pressure who lives in West Virginia. How would you know what insurance options you have...
SEC limits political gifts after abuse scandals (Jun-30, 23:00 EDT )-- The Securities and Exchange Commission voted Wednesday to restrict investment advisers from contributing to political campaigns to win pension business in response to abuses in an industry that oversees $2.6 trillion of public retirement funds. ...
Boeing to acquire Fairfax-based combat engineering firm Argon ST (Jun-30, 23:00 EDT )-- Boeing has agreed to acquire the Fairfax-based combat engineering firm Argon ST for about $775 million, reflecting a shift by defense contractors seeking to accommodate a Pentagon that wants high-tech intelligence tools as much as big guns and heavy...
Cassano defends actions at AIG (Jun-30, 23:00 EDT )-- Joseph Cassano, who oversaw the American International Group unit that doomed the company and prompted a $182 billion federal bailout, defended his investment decisions Wednesday, adding that he could have saved taxpayers money if he had stayed with...
Washington region's unemployment rate rises to 6 percent in May (Jun-30, 23:00 EDT )-- The Washington region's unemployment rate rose to 6.0 percent in May from 5.9 percent the previous month, according to federal government data released Wednesday, illustrating for some experts a slowdown in the hiring surge seen earlier this year. ...
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