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Japan government econ plan to call for BOJ easing: media (Reuters) (Aug-25, 21:53 EDT )-- Reuters - Japan's government will urge the Bank of Japan to ease monetary policy further as part of a package of steps to stem the yen's rise and support the fragile economy, the Asahi newspaper said, ratcheting up pressure on the central bank to take...
Fed in emergency bid to put bailout ruling on hold (Reuters) (Aug-25, 18:26 EDT )-- Reuters - The Federal Reserve asked a U.S. appeals court to delay implementing a ruling that would force the central bank to disclose details of its emergency lending programs to banks during the financial crisis.
KBW mortgage index adds Radian, cuts NewAlliance (AP) (Aug-25, 18:24 EDT )-- AP - Keefe, Bruyette & Woods Inc. on Wednesday said it will make changes to its banking and mortgage finance indexes on Monday.
U.S. banks lobby Fed on debit card fee limits (Reuters) (Aug-25, 17:50 EDT )-- Reuters - The U.S. Federal Reserve has begun taking the first steps to crack down on debit-card transaction fees, with the battle between merchants and banks moving from the legislative to the regulatory arena.
Dollar gains against euro, yen (AFP) (Aug-25, 17:36 EDT )-- AFP - The dollar gained ground against the euro and yen on Wednesday after another set of bad US data roiled the markets and stoked growing fears the US economy could slip back into recession.
Business Highlights (AP) (Aug-25, 17:11 EDT )-- AP - Bad news on homes, goods adds to air of recession
Summary Box: Home sales, goods orders both sink (AP) (Aug-25, 16:46 EDT )-- AP - RECESSION FEARS: Fears of another recession are growing. Businesses are ordering fewer goods, and home sales are the weakest in decades.
Obama discusses economy, markets in advisers call (Reuters) (Aug-25, 16:07 EDT )-- Reuters - President Barack Obama held a conference call with top economic advisers on Wednesday to discuss newly released grim data that has raised fears the economy is at risk of a new downturn.
Thrifts earn $1.49 billion in Q2 (AP) (Aug-25, 15:55 EDT )-- AP - U.S. thrifts posted a second-quarter profit in the latest sign the industry is stabilizing amid the economic recovery.
Weak US housing, business data fuel 'double-dip' concerns (AFP) (Aug-25, 15:54 EDT )-- AFP - New US homes sales fell to their lowest level in about half a century and manufacturing orders came in far worse than expected, the government said Wednesday, fueling concerns the world's largest economy could slip back into recession.
July new home sales sag as durables orders soft (Reuters) (Aug-25, 15:47 EDT )-- Reuters - New home sales slumped to the slowest pace on record in July and orders for costly durable goods were weak, heightening fears the economy was at risk of another downturn.
Bad news on homes, goods adds to air of recession (AP) (Aug-25, 15:44 EDT )-- AP - It's starting to feel like another recession.
California delays $3 bln for local governments (Reuters) (Aug-25, 15:28 EDT )-- Reuters - Local governments in California are scrambling to respond to the state government's decision to delay nearly $3 billion in funds for them, with some tapping reserves to keep programs fully funded.
Northern Nev. businesses pessimistic about economy (AP) (Aug-25, 15:26 EDT )-- AP - Nearly two-thirds of northern Nevada business leaders believe economic conditions in the state are poor or very poor, but most agree the economy is no longer getting worse, according to a new survey.
How to Survive College With No Credit Regrets (The Motley Fool) (Aug-25, 15:13 EDT )-- The Motley Fool - Bills, budgets, spending temptations, lines of credit -- across the country newly minted co-eds are facing these adult money issues on their own for the very first time. To help kids ace Money 101 -- and avoid graduating with a killer...
Dollar mixed as US data suggests economy weaker (AP) (Aug-25, 15:05 EDT )-- AP - The dollar traded mixed Wednesday as reports on manufacturing and housing pointed to a significant weakening of the U.S. economy.
BOK chief: World needs financial safety net (AP) (Aug-25, 15:02 EDT )-- AP - South Korea's central bank governor on Wednesday urged creation of a global financial safety net to deal with future fast-spreading crises among intertwined economies.
Oil prices edge up despite negative data (AFP) (Aug-25, 14:52 EDT )-- AFP - Oil prices edged up on Wednesday despite dismal US economic data and a spectacular jump in US crude reserves that signaled weaker demand in the world's biggest oil-consuming nation.
Toll Brothers posts profit for 3rd quarter (AP) (Aug-25, 13:11 EDT )-- AP - Toll Brothers Inc. on Wednesday posted a fiscal third-quarter profit, but the luxury homebuilder said fewer buyers signed contracts, another sign that housing and the broader economy are stumbling.
Labor Day travel seen up nearly 10 percent: AAA (Reuters) (Aug-25, 12:55 EDT )-- Reuters - The number of Americans expected to travel during the Labor Day weekend this year will rise 9.9 percent from 2009 as some aspects of the U.S. economy show signs of improvement, travel and auto group AAA said Wednesday.
Dollar, euro mixed after more bad US data (AFP) (Aug-25, 12:32 EDT )-- AFP - The dollar and euro were mixed on Wednesday after another set of bad US data roiled the markets and stoked growing fears the US economy could slip back into recession, dealers said.
Don't Stop at the Latte Factor (U.S. News & World Report) (Aug-25, 11:58 EDT )-- U.S. News & World Report - Schools throughout the country are beginning to introduce money management lessons into mathematics classes. For a young public that is confused about compound interest, doesn't know how to balance a check book, and wonders...
A look at economic developments around the globe (AP) (Aug-25, 11:58 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Wednesday:
The Good News in the Bad Housing Numbers (U.S. News & World Report) (Aug-25, 11:15 EDT )-- U.S. News & World Report - We've been hoping to avoid this pain, with vast amounts of medication disguised as Federal Reserve asset purchases, home-buyer tax credits, unorthodox mortgage modifications, and other aid meant to anesthetize the housing...
The Good News in the Bad Housing Numbers (U.S. News & World Report) (Aug-25, 11:15 EDT )-- U.S. News & World Report - We've been hoping to avoid this pain, with vast amounts of medication disguised as Federal Reserve asset purchases, home-buyer tax credits, unorthodox mortgage modifications, and other aid meant to anesthetize the housing...
Will Hedge Fund Investors Panic Next? (The Motley Fool) (Aug-25, 11:13 EDT )-- The Motley Fool - As individual investors, we don't necessarily need to worry about what mutual fund, hedge fund, and institutional managers are doing with the money they have under management. Instead, we seek out high-quality companies, with strong...
Lack of skilled workers threatens recovery: Manpower (Reuters) (Aug-25, 11:00 EDT )-- Reuters - Workers with specialized skills like electricians, carpenters and welders are in critically short supply in many large economies, a shortfall that marks another obstacle to the global economic recovery, a research paper by Manpower Inc ...
New home sales hit lowest level (Aug-25, 10:51 EDT )-- Sales of newly built homes dropped to their lowest level since the government started tracking the numbers more than four decades ago, with demand for home purchases down in all four regions of the country. Business - Marketing and Advertising -...
Political Economy: Durable goods orders rise a disappointing 0.3 percent (Aug-25, 09:57 EDT )-- Spending on big-ticket items rose less than expected in July, a sign that one of the areas of economic strength over the first half of the year -- business investment in equipment -- is starting to fade. Durable good - Economics - Business -...
Recovery in danger as firms, homebuyers cut back (AP) (Aug-25, 09:51 EDT )-- AP - The economic recovery appears to be stalling as companies cut back last month on their investments in equipment and machines and Americans bought new homes at the weakest pace in decades.
July new home sales tumble to record low (Reuters) (Aug-25, 09:50 EDT )-- Reuters - New U.S. single-family home sales slumped to the slowest pace on record in July and orders for costly durable goods were weak, according to government reports on Wednesday that heightened fears the economy was at risk of a new downturn.
Mortgage applications rise 4.9 pct. on low rates (AP) (Aug-25, 09:47 EDT )-- AP - Mortgage applications rose 4.9 percent last week as more borrowers refinanced at the lowest rates in decades.
Instant View: New home sales at record low in July (Reuters) (Aug-25, 09:23 EDT )-- Reuters - New U.S. single-family home sales unexpectedly fell in July to set their slowest pace on record while prices were the lowest in more than 6-1/2 years.
US new home sales plunge to lowest levels since 1963 (AFP) (Aug-25, 09:20 EDT )-- AFP - US new home sales in July unexpectedly plunged by 12.4 percent from a month earlier to the lowest level since 1963, government data showed Wednesday, reflecting the sinking housing sector.
Ireland stung by S&P cut, bank pressure grows (Reuters) (Aug-25, 09:13 EDT )-- Reuters - Ireland's government faced mounting pressure on Wednesday to draw a line under its banking crisis after a credit rating cut from Standard & Poor's pushed its borrowing costs higher.
Summary Box: Japan mulls action against strong yen (AP) (Aug-25, 09:11 EDT )-- AP - THE DILEMMA: Facing a surging yen and mounting calls for action, Japan may finally decide that it can't afford to let its currency keep climbing. The yen on Tuesday hit a fresh 15-year high against the dollar, and data shows export growth is...
(AP) (Aug-25, 09:01 EDT )-- AP - New home sales sink 12.4 percent in July to slowest pace on record as economy weakens.
Durable goods orders rise 0.3 percent in July (AP) (Aug-25, 08:58 EDT )-- AP - Companies cut back on their investments in equipment and machines last month as the economic recovery lost momentum.
Lack of skilled workers threatens recovery-Manpower (Reuters) (Aug-25, 08:42 EDT )-- Reuters - Workers with specialized skills like electricians, carpenters and welders are in critically short supply in many large economies, a shortfall that marks another obstacle to the global economic recovery, a research paper by Manpower Inc ...
Instant View: Durables orders disappoint in July (Reuters) (Aug-25, 08:01 EDT )-- Reuters - New orders for U.S. durable goods fell short of expectations in July and, excluding transportation equipment, posted their largest decline in 1-1/2 years, pointing to a slowdown in manufacturing.
Durable goods orders rise modestly in July (Reuters) (Aug-25, 07:36 EDT )-- Reuters - New orders for long-lasting U.S. manufactured goods rose far less than expected in July and, excluding transportation equipment, posted their largest decline in 1-1/2 years, according to a government report on Wednesday that pointed to a...
Fed unlikely to lower rate it pays on bank reserves (Reuters) (Aug-25, 07:01 EDT )-- Reuters - Federal Reserve officials like to say they have plenty of tools left in their policy arsenal to deal with a weakening economy.
German business confidence reaches 3-year high (AP) (Aug-25, 07:00 EDT )-- AP - Germany's business confidence rose in August to its highest level in three years, according to a key survey Wednesday, suggesting Europe's biggest economy continues to grow as companies plan to hire more and manufacturers and retailers enjoy...
Labor Day travel seen up 9.9 percent (Reuters) (Aug-25, 06:43 EDT )-- Reuters - The number of Americans expected to travel during the Labor Day weekend this year will rise 9.9 percent from 2009 as gross domestic product, household net worth and consumer confidence improved over the past year, travel and auto group AAA...
Japan keeps intervention option open to curb yen (Reuters) (Aug-25, 05:21 EDT )-- Reuters - Japan is not ruling out market intervention to curb the yen's rise, government sources said on Wednesday, sending the strongest signal yet that the currency's march toward all-time highs may spur Tokyo into action.
A worried Japan mulls action against strong yen (AP) (Aug-25, 05:19 EDT )-- AP - Facing a surging yen and mounting calls for action, Japan may finally decide that it can't afford to let its currency keep climbing.
AIG to decide on AIA pre-IPO sale by next week: sources (Reuters) (Aug-25, 02:09 EDT )-- Reuters - American International Group Inc is expected to decide by early next week whether to enter formal negotiations with strategic investors for its Asian life insurance business, AIA, sources familiar with the process told Reuters on Wednesday.
Democrats move to shore up faltering recovery (Aug-24, 22:17 EDT )-- A rapidly weakening economy threatens to undermine President Obama's assertion that he has set the nation on a path to prosperity and, with barely two months until congressional midterm elections, Democrats find themselves with few options for reviving...
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