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All eyes on Fed chief as US economy slows (AFP) (Aug-26, 21:58 EDT )-- AFP - Federal Reserve chief Ben Bernanke will offer a fresh assessment Friday of the weakening US economy as the government is expected to slash nearly half of projected growth for the second quarter.
AP ENTERPRISE: Oil cleanup both bonanza and bust (AP) (Aug-26, 21:16 EDT )-- AP - The Gulf oil spill is a bonanza for some and a bust for others.
US indicts ex S.Korean airline execs for price fixing (AFP) (Aug-26, 21:14 EDT )-- AFP - Two former Asiana Airlines executives were indicted in New York on Thursday for a price-fixing scheme involving economy class airfares for travel between the United States and South Korea.
Scarcity of jobs puts more at risk of foreclosure (AP) (Aug-26, 21:10 EDT )-- AP - The jobs crisis is putting more Americans at risk of losing their homes.
Japan consumer prices fall, deepening deflation (AP) (Aug-26, 19:04 EDT )-- AP - Japan says its consumer prices fell for the 17th straight month in July, as deflation kept a tight grip on the economy.
Citi-backed personal finance site adds tools (Reuters) (Aug-26, 17:51 EDT )-- Reuters - Bundle.com, an online personal finance site that counts Citigroup Inc among its backers, is unveiling new features to compete in a growing market for Internet banking and budgeting advice, its chief executive said on Thursday.
Dollar loses ground against key currencies (AFP) (Aug-26, 17:42 EDT )-- AFP - The dollar fell back against most key currencies on Thursday as traders braced for more negative US economic data.
Summary Box: Underwater mortgages in US fell in 2Q (AP) (Aug-26, 17:27 EDT )-- AP - SLIGHT DECLINE: Real estate data provider CoreLogic says the number of U.S. homes with mortgages that exceed what the properties are worth fell slightly between the second quarter and the first three months of this year. It's the second...
Summary Box: 1 in 10 in mortgage trouble (AP) (Aug-26, 17:25 EDT )-- AP - MORTGAGE DEFAULTS HIGH: One in 10 American households with a mortgage was at risk of foreclosure this summer, and the crisis could worsen if jobs remain scarce.
Summary Box: Mortgage rates hit low of 4.36 pct. (AP) (Aug-26, 17:03 EDT )-- AP - RATES DIP: The average rate for a 30-year fixed loan fell this week to 4.36 percent, mortgage buyer Freddie Mac said. That's the lowest level since the mortgage buyer began tracking rates in 1971.
Scarcity of jobs puts more at risk of foreclosure (AP) (Aug-26, 16:03 EDT )-- AP - The jobs crisis is putting more Americans at risk of losing their homes.
Summary Box: Bernanke carries burden of turnaround (AP) (Aug-26, 15:16 EDT )-- AP - EYES ON BERNANKE: With short-term rates already near zero, Federal Reserve Chairman Ben Bernanke must try to prevent another recession by persuading people and businesses to feel confident enough about the future to spend more now.
Summary Box: Copper prices up on jobless report (AP) (Aug-26, 14:59 EDT )-- AP - BIT OF A BRIGHT SPOT: Copper prices rose nearly 3 percent after the government said jobless claims fell for the first time in a month. It was a bright spot after weak housing sales proved discouraging for the industrial metal.
Copper prices perk up on encouraging economic news (AP) (Aug-26, 14:59 EDT )-- AP - Copper prices perked up Thursday as traders grew more optimistic after the government said jobless claims fell for the first time in a month.
1 in 10 holding mortgages missed payments (Aug-26, 14:52 EDT )-- Nearly 10 percent of all American homeowners with a mortgage had missed at least one payment this summer, threatening foreclosure, according to fresh data released moments ago by the Mortgage Bankers Association. Loan - Home - Business - Mortgage...
Bernanke's top tool now may be power of persuasion (AP) (Aug-26, 14:48 EDT )-- AP - The economy appears to be stalling. Yet the Federal Reserve has run out of simple steps it can take to revive it.
Trump battles slump in new season of "Apprentice" (Reuters) (Aug-26, 14:41 EDT )-- Reuters - The recession has hit America hard, and Donald Trump plans to do something about it on his reality TV series, "The Apprentice."
AP ENTERPRISE: Oil cleanup both bonanza and bust (AP) (Aug-26, 14:41 EDT )-- AP - The Gulf oil spill is a bonanza for some and a bust for others.
Dollar turns lower as markets wait for Bernanke (AP) (Aug-26, 14:18 EDT )-- AP - The dollar turned lower in choppy trading ahead of a speech by the head of the Federal Reserve that could detail more measures the central bank will take to bolster the economy.
Number of underwater mortgages in US fell in 2Q (AP) (Aug-26, 14:01 EDT )-- AP - Real estate data provider CoreLogic says the number of U.S. homes with mortgages that exceed what the property is worth declined slightly in the second quarter versus the first three months of this year.
5 Life Insurance Strategies for Retirement Planning (U.S. News & World Report) (Aug-26, 13:47 EDT )-- U.S. News & World Report - When the nest empties, the need for life insurance diminishes. Baby boomers and retirees should think strategically about existing life insurance policies and future life insurance needs. Here is what to do with a life...
When Financial Planners Are Worth the Money (U.S. News & World Report) (Aug-26, 13:26 EDT )-- U.S. News & World Report - Many of us have a hard time getting over the fees that financial planners charge. Between sleazy sales tactics and the unlikely scenario of beating the market, it's an uphill battle to convince yourself that a wealth manager...
A look at economic developments around the globe (AP) (Aug-26, 13:05 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Thursday:
Scarcity of jobs puts more at risk of foreclosure (AP) (Aug-26, 12:54 EDT )-- AP - One in 10 American households with a mortgage is at risk of losing its home, and the foreclosure crisis could worsen if jobs remain scarce.
IBM mulls further investment in Slovakia: government (AFP) (Aug-26, 12:54 EDT )-- AFP - US computer giant IBM is considering boosting its investment in Slovakia, the economy minister said on Thursday.
Japanese anxious on economy after grim reports (Aug-26, 10:53 EDT )-- TOKYO - Even by the standards of a country that has spent 20 years fretting about its economy, these are especially worrisome times in Japan. Several recent benchmarks - a succession of bad and worse news - have prompted calls for rare government...
Credit card reform has companies treading lightly on campus (Aug-26, 10:53 EDT )-- Credit card reform came too late for 20-year-old Tamaira Shaw. Credit card - Business - Financial Services - Business and Economy - Merchant Services
The "Eat Pray Love" Approach to Investing (The Motley Fool) (Aug-26, 10:47 EDT )-- The Motley Fool - The best-selling memoir Eat Pray Love recounts a woman's journey around the world in search of solace after a challenging divorce. In the author's travels, she looks to pursue pleasure while in Italy, devotion in India, and a balance...
How states fared on jobless claims, at a glance (AP) (Aug-26, 10:19 EDT )-- AP - New requests for unemployment benefits dropped sharply last week, reversing three weeks of increases. Claims fell by 31,000 to 473,000, the Labor Department said.
Pakistan seeks to salvage economy as more flee floods (Reuters) (Aug-26, 09:50 EDT )-- Reuters - Pakistan ordered fresh evacuations from Sindh on Thursday as the country struggled to bring relief to millions already displaced by flooding and sought international help to rescue its economy.
Mortgage rates hit low of 4.36 percent (AP) (Aug-26, 09:45 EDT )-- AP - Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks, as concerns grow that the economy is weakening.
Mortgage rates hit low of 4.36 percent (AP) (Aug-26, 09:45 EDT )-- AP - Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks, as concerns grow that the economy is weakening.
One in 10 with a mortgage face foreclosure (AP) (Aug-26, 09:43 EDT )-- AP - One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis.
New jobless claims drop for first time in 4 weeks (AP) (Aug-26, 09:40 EDT )-- AP - New requests for unemployment benefits fell sharply last week, the first decline in a month and a hopeful sign after a raft of negative economic reports.
Mortgage rates decline to lowest on record: Freddie (Reuters) (Aug-26, 09:38 EDT )-- Reuters - U.S. mortgage rates fell in the latest week to the lowest on record and posted their ninth drop in the last ten weeks, Freddie Mac said on Thursday.
Weak data trigger US recession fears (AFP) (Aug-26, 09:32 EDT )-- AFP - The odds of the US economy slipping back into recession have risen as new data point to a worsening housing slump and the manufacturing sector slowing markedly amid high unemployment and weak consumer spending.
Jobless claims fall but still elevated (Reuters) (Aug-26, 09:17 EDT )-- Reuters - New U.S. claims for unemployment benefits fell more than expected last week but remained too high to signal a material shift in a weak labor market that is constraining economic growth.
Summary Box: German consumer confidence rises (AP) (Aug-26, 09:14 EDT )-- AP - GOOD MOOD: German consumers are upbeat about their economy, according to a closely watched survey, reflecting the country's overall positive economic trend even as uncertainty lingers over long-term prospects.
Foreclosures fall but new delinquencies rise: MBA (Reuters) (Aug-26, 09:08 EDT )-- Reuters - The number of U.S. homes headed for foreclosure fell in the second quarter for the first time since the housing slump began in 2006, but improvements may be fleeting as the number of newly delinquent homeowners rose, a banking group said on...
(AP) (Aug-26, 09:00 EDT )-- AP - Average rates for 30-year fixed mortgages drop to low of 4.36 percent on economy concerns.
(AP) (Aug-26, 09:00 EDT )-- AP - Average rates for 30-year fixed mortgages drop to low of 4.36 percent on economy concerns.
FACT CHECK: Stimulus assessments overly optimistic (AP) (Aug-26, 08:59 EDT )-- AP - The Obama administration claimed this week that $100 billion invested in innovative technologies under the economic stimulus law is "transforming the American economy" by putting the nation on track for technological breakthroughs in health care,...
Political Economy: Jobless claims fall, but not enough (Aug-26, 08:53 EDT )-- Weekly unemployment claims declined Thursday for the first time in a month, but did not fall steeply enough to alleviate ongoing concern about the nation's economic recovery. Jobless claims - Social Sciences - Economics - Unemployment - Politics
US jobless claims drop more than expected (AFP) (Aug-26, 08:25 EDT )-- AFP - The number of Americans filing new claims for jobless benefits dropped more than expected last week but remained in line with the deeply troubled labor market, government data showed Thursday.
Japan Democrat panel wants BOJ to go step further on yen (Reuters) (Aug-26, 07:11 EDT )-- Reuters - A Japanese ruling party panel discussed currency intervention and recommended on Thursday that the government ask the Bank of Japan to take monetary policy a step further to counter a rising yen, increasing pressure on the central bank to act...
U.S. banks lobby Fed on debit card fee limits (Reuters) (Aug-26, 06:11 EDT )-- Reuters - The 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.
Ahead of the Bell: Jobless claims (AP) (Aug-26, 05:16 EDT )-- AP - The weak job market has been deteriorating even further.
German consumer confidence rises (AP) (Aug-26, 04:14 EDT )-- AP - German consumers are upbeat about their economy, a closely watched survey showed Thursday, reflecting the country's overall positive economic trend even as uncertainty lingers over long-term prospects.
Record German growth boosts consumer confidence (AFP) (Aug-26, 04:06 EDT )-- AFP - Record growth is lifting the spirits of Germany's traditionally cagey consumers, the GfK institute said Thursday as its household confidence index pointed to a sustained expansion of Europe's biggest economy.
China Life first-half profit up 7.4 percent (AP) (Aug-25, 22:10 EDT )-- AP - China Life Insurance Co., the country's biggest life insurer, said Thursday its first-half profit rose 7.4 percent as premium growth offset weak stock market returns.
As economy slows and Fed voices conflict, markets look to Bernanke for guidance (Aug-25, 22:02 EDT )-- With the housing market retreating, unemployment lingering and top officials at the Federal Reserve in open disagreement over what to do, Fed Chairman Ben S. Bernanke is under rising pressure to offer solutions in an address Friday that is likely to be...
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