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Japan warns on intervention after yen rise (Reuters) (Aug-24, 20:33 EDT )-- Reuters - Japan's finance minister further sharpened his rhetoric on the yen's steep gains after the Nikkei newspaper reported Japan may consider selling the yen in unilateral intervention if speculators drive up the currency.
Japan export growth slows for fifth month in July (AP) (Aug-24, 20:12 EDT )-- AP - Japan's export growth slowed for the fifth straight month in July, the government said Wednesday, as the global economy loses momentum and a strong yen threatens to derail the country's recovery.
Boehner sees 'ongoing economic uncertainty' (AP) (Aug-24, 19:36 EDT )-- AP - House Republican leader John Boehner on Tuesday urged President Barack Obama to support an extension of tax cuts and to fire key economic advisers, arguing that more than a year of "government as community organizer" has failed to revive the economy.
Stimulus added millions of jobs in Q2 (Reuters) (Aug-24, 17:34 EDT )-- Reuters - The massive U.S. stimulus package put millions of people to work and boosted national output by hundreds of billions of dollars in the second quarter, the nonpartisan Congressional Budget Office said on Tuesday.
Job fears grip voters, Obama ratings crumble (Reuters) (Aug-24, 17:16 EDT )-- Reuters - More Americans now disapprove of President Barack Obama than approve of him as high unemployment and government spending scare voters ahead of November's congressional elections, a Reuters/Ipsos poll showed on Tuesday.
Stimulus to cost $27B more than original pricetag (AP) (Aug-24, 17:00 EDT )-- AP - President Barack Obama's massive stimulus measure has created or saved as many as 3.3 million jobs and continues to boost economic growth in the second half of 2010, but it's come at a higher pricetag than originally billed.
Dollar slides against euro, yen on grim economic data (AFP) (Aug-24, 16:51 EDT )-- AFP - The dollar lost ground against the euro and the yen on Tuesday after a bleak report on housing sales raised fears about the recovery of the US economy.
Low prices and rates can't slow fall in home sales (AP) (Aug-24, 15:54 EDT )-- AP - Home prices in many parts of the country scream bargain, and mortgage rates haven't been this low for decades. So why are houses across the nation sitting on the market for so long?
Buffett, Diller to join Montana economic summit (AP) (Aug-24, 15:50 EDT )-- AP - U.S. Sen. Max Baucus says investor and philanthropist Warren Buffett is scheduled to participate in the Montana Economic Development Summit in Butte next month.
Re-defaults on modified mortgage loans falling (AP) (Aug-24, 15:44 EDT )-- AP - Homeowners who had mortgages modified recently are faring better than those who did so earlier in the housing crisis, according to a report released Tuesday, possibly debunking predictions of a huge wave of defaults to come.
Corporate debt "wall of maturity" crumbling: study (Reuters) (Aug-24, 15:23 EDT )-- Reuters - Financial markets are knocking down a wall of debt maturity that has endangered the U.S. economic recovery and threatened to push more companies into bankruptcy, according to an investment firm report on Tuesday.
Stimulus boosted U.S. GDP by up to 4.5 percent in 2Q 2010 (Reuters) (Aug-24, 15:21 EDT )-- Reuters - The massive stimulus package boosted real GDP by up to 4.5 percent in the second quarter of 2010 and put up to 3.3 million people to work, the nonpartisan Congressional Budget Office said on Tuesday.
US existing home sales plunge (AFP) (Aug-24, 15:21 EDT )-- AFP - Existing US home sales plunged a whopping 27.2 percent in July to levels unseen in more than a decade, an industry group said Tuesday, casting new doubts on the recovery of the world largest economy.
Fed wanted to avoid unintended tightening: Fisher (Reuters) (Aug-24, 15:15 EDT )-- Reuters - The Federal Reserve decided to reinvest proceeds from its mortgage-related assets to avoid unintentionally clamping down on monetary policy when the recovery was showing signs of weakening, a top Fed official said on Tuesday.
Fed wanted to avoid unintended tightening: Fisher (Reuters) (Aug-24, 15:15 EDT )-- Reuters - The Federal Reserve decided to reinvest proceeds from its mortgage-related assets to avoid unintentionally clamping down on monetary policy when the recovery was showing signs of weakening, a top Fed official said on Tuesday.
Home sales at 15-year lows (Reuters) (Aug-24, 15:07 EDT )-- Reuters - Sales of previously owned U.S. homes took a record plunge in July to their slowest pace in 15 years, underlining the housing market's struggle to find its footing without government aid.
US mounts global push for shale gas (AFP) (Aug-24, 15:06 EDT )-- AFP - The United States on Tuesday offered to help major economies such as China and India develop shale gas, a rapidly growing sector in North America which US officials bill as a clean alternative.
Job fears grip voters as Obama ratings crumble (Reuters) (Aug-24, 15:03 EDT )-- Reuters - More Americans now disapprove of President Barack Obama than approve of him as high unemployment and government spending scare voters ahead of November's midterm elections, Reuters/Ipsos poll found on Tuesday.
Why Did Intel Buy McAfee? (The Motley Fool) (Aug-24, 15:01 EDT )-- The Motley Fool - If Intel's (Nasdaq: INTC - News) acquisition of security software giant McAfee (Nasdaq: MFE - News) is any indication of what technology companies will be doing with the abundant cash on their balance sheets, perhaps they should...
Six Popular Credit Score Myths (U.S. News & World Report) (Aug-24, 15:00 EDT )-- U.S. News & World Report - Your credit score is one of the most important numbers in your life and one of the most misunderstood. So many people don't understand how the credit scoring system works because Fair Isaac Corporation, the designers of the...
Copper prices lose ground on dismal home sales (AP) (Aug-24, 14:48 EDT )-- AP - Copper lost ground Tuesday after a dismal report on home sales added to concerns about the slowing U.S. economy.
SEC: Ex-Countrywide chief approved special loans (AP) (Aug-24, 14:46 EDT )-- AP - Federal regulators say former Countrywide CEO Angelo Mozilo personally approved mortgages for favored borrowers that violated the company's policies and lending standards.
Oil prices sink as more weak economy data rolls in (AP) (Aug-24, 14:24 EDT )-- AP - Oil prices sank again on Tuesday after a disappointing report on home sales underlined the slow economic recovery and weak demand for oil and gas.
US target sanctions on bin Laden's son-in-law (AFP) (Aug-24, 14:17 EDT )-- AFP - The US Treasury on Tuesday imposed sanctions on the son-in-law of Al-Qaeda chief Osama bin Laden, saying he was a potential chief financial officer of the terror network.
Burger King sees weak demand, unemployment weighs (Reuters) (Aug-24, 14:03 EDT )-- Reuters - Burger King Holdings Inc , the No. 2 U.S. hamburger chain, forecast weak demand for its new fiscal year amid a struggling economy and said it was unsure how costs for key ingredients like beef would impact the company.
5 Great Ways To Downsize Effectively (U.S. News & World Report) (Aug-24, 13:56 EDT )-- U.S. News & World Report - Downsizing -- it's all about embracing simpler living. A lot of us have had to go down this road ever since the recession hit us with full force.
John Boehner urges Obama to oust economic team (Reuters) (Aug-24, 13:50 EDT )-- Reuters - The top Republican in the House of Representatives called on Tuesday for President Barack Obama to fire his economic team in a campaign-style speech meant to focus voters on the weak American economy.
Sales of existing homes plunge to 15-year-low (Aug-24, 13:02 EDT )-- Sales of previously built single-family homes plunged in July to their lowest level since May 1995 as job fears trumped low mortgage interest rates and relatively affordable home prices. Business - National Association of Realtors - United States...
Sales of existing homes plunge to 15-year-low (Aug-24, 11:29 EDT )-- Sales of previously built single-family homes plunged in July to their lowest level since May 1995. Business - National Association of Realtors - United States - Residential Housing - Construction and Maintenance
Home sales plunge 27 pct. to lowest in 15 years (AP) (Aug-24, 09:59 EDT )-- AP - Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas.
Home sales plunge 27 pct. to lowest in 15 years (AP) (Aug-24, 09:52 EDT )-- AP - Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas.
Existing home sales dive to 15-year low (Reuters) (Aug-24, 09:48 EDT )-- Reuters - Sales of previously owned U.S. homes took a record drop in July to their lowest pace in 15 years, suggesting further loss of momentum in the economic recovery.
US existing home sales plunge 27 percent (AFP) (Aug-24, 09:35 EDT )-- AFP - Existing US home sales plunged 27.2 percent in July from a month earlier to a near-decade low, an industry group said Tuesday, casting further doubt on the viability of the economic recovery.
Instant View: Existing home sales plunge to 15-year low (Reuters) (Aug-24, 09:28 EDT )-- Reuters - Sales of previously owned U.S. homes dropped in July to their lowest pace in 15 years, implying further loss of momentum in the economic recovery.
EU clears MetLife takeover of AIG unit (AFP) (Aug-24, 09:27 EDT )-- AFP - US life insurance giant MetLife won clearance from European Union regulators on Tuesday to acquire a unit of American International Group for 15.5 billion dollars (12.3 billion euros).
Fed's Evans says double-dip risk has risen (Reuters) (Aug-24, 09:18 EDT )-- Reuters - The risks of a double-dip U.S. recession have risen in the last six months, Chicago Federal Reserve Bank President Charles Evans said on Tuesday.
Boehner sees 'ongoing economic uncertainty' (AP) (Aug-24, 09:08 EDT )-- AP - House Republican leader John Boehner on Tuesday urged President Barack Obama to support an extension of tax cuts and to fire key economic advisers, arguing that 19 month of "government as community organizer" hasn't worked.
Americans choose racket over remote control (Reuters) (Aug-24, 08:56 EDT )-- Reuters - Tennis has moved out of the country club and turned into one of the fastest-growing sports in the United States as Americans looking for a cheap pastime in a bad economy have hit the courts.
Fed's Evans says risk of double-dip recession has risen (Reuters) (Aug-24, 08:35 EDT )-- Reuters - A double-dip recession is unlikely but the risks of one have risen in the last six months, Chicago Federal Reserve Bank President Charles Evans said on Tuesday.
John Boehner says Obama economic team should resign (Reuters) (Aug-24, 08:27 EDT )-- Reuters - House Republican leader John Boehner on Tuesday called for the resignation of President Barack Obama's embattled economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers.
German budget deficit jumps to 3.5 pct in 1st half (AP) (Aug-24, 05:50 EDT )-- AP - Germany's deficit rose sharply to 3.5 percent of economic output in the first half of 2010, putting it on track to break EU budget rules due to the costs of the global economic and financial crisis, official data showed Tuesday.
Dollar slides to new 15-year low vs yen (AP) (Aug-24, 05:21 EDT )-- AP - The U.S. dollar dropped to a fresh 15-year low against the yen, adding further pain to Japan's vital exporters, amid persistent concerns about the outlook for the U.S. economy.
Recovery from floods to take Pakistan years: Zardari (Reuters) (Aug-24, 05:02 EDT )-- Reuters - Pakistan could take years to recover from the floods disaster, its president said, as crisis talks began with the IMF which predicted the catastrophe would have a "major and lasting" economic impact.
Local Digest (Aug-23, 23:00 EDT )-- ManTech International said Monday that it is reorganizing its top management ranks. United States - Canada - England - Newspaper - Digestive enzyme
As egg producers consolidate, problems of just one company can be far-reaching (Aug-23, 23:00 EDT )-- The largest egg recall in U.S. history comes at a point of great consolidation in the egg industry, when a shrinking number of companies produce most of the eggs found on grocery shelves and a defect in one operation can jeopardize a significant...
NIH cannot fund embryonic stem cell research, judge rules (Aug-23, 23:00 EDT )-- A federal judge on Monday blocked the Obama administration from funding human embryonic stem cell research, ruling that the support violates a federal law barring the use of taxpayer money for experiments that destroy human embryos. Stem cell -...
Hybrid hearings in Houston on oil spill is focusing on safety recommendations (Aug-23, 23:00 EDT )-- HOUSTON -- A Transocean rig manager testified Monday that, about a week before the April 20 Deepwater Horizon explosion in the Gulf of Mexico, he challenged his counterparts at BP to explain their decision to swap out the most experienced well-site...
Gasoline prices hit eight-month low (Aug-23, 23:00 EDT )-- With the end of the summer driving season just around the corner, traders and investors on Monday drove gasoline prices to an eight-month low on U.S. commodities markets, providing the latest sign of pessimism about the economic recovery. Home -...
Fed loses review bid on bailout disclosure (Aug-23, 23:00 EDT )-- A U.S. appeals court refused to reconsider a ruling that requires the Federal Reserve Board to disclose documents identifying financial firms that might have failed without the largest U.S. government bailout. Federal Reserve System - Supreme...
Retail developer Edens & Avant buys 30th Washington-area shopping center (Aug-23, 23:00 EDT )-- Edens & Avant, a national retail developer and operator, said Monday it has purchased the Hunters Woods Village Center in Reston for an undisclosed price, an acquisition that brings to 30 the number of Washington area shopping centers owned by the...
Obama administration targeting ineffective contracts in an effort to trim costs (Aug-23, 23:00 EDT )-- The Obama administration said Monday that it plans to review 26 government information-technology projects worth a total of $30 billion as part of an effort to trim back or cancel contracts that aren't meeting goals. Barack Obama - United States ...
AIG pays back $4 billion of bailout debt (Aug-23, 23:00 EDT )-- American International Group said Monday that it had used $4 billion from a recent debt sale to pay back the U.S. government, marking the single largest cash repayment so far from the bailed out insurance giant. Business - Financial Services -...
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Hewlett-Packard seeks to outbid Dell for data storage firm 3Par (Aug-23, 23:00 EDT )-- Hewlett-Packard is bidding $1.5 billion for data storage provider 3Par, offering 33 percent more than what rival Dell agreed to pay for the company just a week earlier. Hewlett-Packard - Dell - Hardware - Storage - HP
Fed divided on Aug decision to buy Treasuries: report (Reuters) (Aug-23, 22:17 EDT )-- Reuters - At least seven of the 17 top Federal Reserve officials at the U.S. central bank's August meeting had reservations about the decision to buy more Treasuries, the Wall Street Journal reported on Monday.
IPOs, mergers shine on Wall Street (AFP) (Aug-23, 22:08 EDT )-- AFP - A burst of potential new stock listings as well as mergers and acquisitions is giving Wall Street a fillip even as the US economy shows signs of slowing down.
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