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Obama to address new economic ideas next Wednesday (Reuters) (Sep-3, 17:14 EDT )-- Reuters - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were skeptical he would be able to deliver a big enough package to lift growth significantly.
Despite hiring, US unemployment rate seems frozen (AP) (Sep-3, 17:09 EDT )-- AP - Unemployment is stuck at high levels even though some companies are hiring. The problem, government data show, is that too few jobs are being created for the growing number of people looking for work.
Business Highlights (AP) (Sep-3, 16:57 EDT )-- AP - Companies add 67K workers, but jobless rate rises
Economy 101: Jobless rate widens for black workers (AP) (Sep-3, 16:56 EDT )-- AP - When the unemployment rate rose last month, the pain wasn't spread evenly.
Summary Box: Unemployment rate rises to 9.6 pct (AP) (Sep-3, 16:41 EDT )-- AP - UNEMPLOYMENT RISES: The unemployment rate rose to 9.6 percent in August from 9.5 percent, as the nation lost 54,000 jobs. Private employers added a net total of 67,000 workers, but 114,000 temporary census jobs ended.
A rise in unemployment that is "about unchanged" (AP) (Sep-3, 16:24 EDT )-- AP - For most Americans, the most important information in the monthly unemployment report is whether the jobless rate rose or fell, and by how much.
Petrobras sells 64 bln dlrs of stock to fund oil exploration (AFP) (Sep-3, 15:57 EDT )-- AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.
Obama promises more stimulus as unemployment edges up (AFP) (Sep-3, 15:17 EDT )-- AFP - President Barack Obama promised a fresh slew of measures to boost the ailing US economy Friday after fresh data showed unemployment was again on the rise.
Obama planning new package of economic aid (AP) (Sep-3, 14:44 EDT )-- AP - Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth.
MGIC added $1.2B in mortgage coverage in August (AP) (Sep-3, 13:50 EDT )-- AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.
Payrolls data offer ray of hope for recovery (Reuters) (Sep-3, 12:44 EDT )-- Reuters - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.
A look at economic developments around the globe (AP) (Sep-3, 12:00 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Friday:
US services sector growth eases (AFP) (Sep-3, 11:08 EDT )-- AFP - Growth of the key US services sector fell to its lowest level in eight months in August amid a weakening economic recovery, a survey report said Friday.
Summary Box: Service sector growth slows in August (AP) (Sep-3, 10:56 EDT )-- AP - GROWTH SLOWING: The Institute for Supply Management said its service-sector index fell to 51.5 last month from 54.3 in July. The number indicates growth for the eighth consecutive month but it was the weakest pace since January.
Sirius XM Has a Stern Decision to Make (The Motley Fool) (Sep-3, 10:43 EDT )-- The Motley Fool - Satellite-radio star Howard Stern is negotiating in public again.
Obama: jobs data 'positive' but not enough (AFP) (Sep-3, 10:09 EDT )-- AFP - US President Barack Obama said better-than-expected jobs data released Friday was positive, but said it was not good enough as the economy struggles out of the deepest slump in decades.
Top Obama critic blasts 'job-killing' policies (AFP) (Sep-3, 09:56 EDT )-- AFP - President Barack Obama should fire his top economic advisers and quit his "job-killing" policies, the top House Republican said after US unemployment jumped to 9.6 percent in August.
Obama: New jobs numbers 'positive' but not enough (AP) (Sep-3, 09:54 EDT )-- AP - President Barack Obama welcomed news Friday of better-than-expected private sector job growth. But with the unemployment rate ticking upward nevertheless, he said he'd roll out new plans next week to spur the economy.
Obama says to address new economic ideas next week (Reuters) (Sep-3, 09:53 EDT )-- Reuters - President Barack Obama on Friday said he would address a package of new measures next week to boost U.S. growth and hiring as he greeted the August job report as positive news.
Service sector grows at slower pace in August (AP) (Sep-3, 09:52 EDT )-- AP - The U.S. service sector, the nation's predominant job generator, expanded for the eighth straight month in August although the pace of growth slowed, according to a trade group survey.
Payrolls fall less than expected 54,000 in August (Reuters) (Sep-3, 09:52 EDT )-- Reuters - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.
Campbell Soup profit beats Street but sales light (Reuters) (Sep-3, 09:45 EDT )-- Reuters - Campbell Soup Co posted lower-than-expected quarterly sales and forecast sales growth for the new fiscal year below its long-term target as the world's largest soup company grapples with a weak economy.
Companies add 67K workers, but jobless rate rises (AP) (Sep-3, 09:44 EDT )-- AP - Private employers hired more workers over the past three months than first thought, lifting hopes for the weak economy ahead of the Labor Day weekend. But the unemployment rate rose in August for the first time in four months as more people...
Petrobras sells 64 bln dlrs of stock to fund exploration (AFP) (Sep-3, 09:38 EDT )-- AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings on Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into one of the world's top 21st century oil exporters.
Oil prices stage gentle rebound after US payrolls (AFP) (Sep-3, 09:36 EDT )-- AFP - Oil prices firmed on Friday as traders examined a better-than-expected payrolls report in the United States, the world's leading energy consumer.
US posts better-than-expected jobs data (AFP) (Sep-3, 09:30 EDT )-- AFP - The US unemployment rate edges up to 9.6 percent easing fears of a jobs meltdown but posing tough questions for President Barack Obama.
(AP) (Sep-3, 09:19 EDT )-- AP - Obama calls anew for Congress to pass legislation providing tax relief for small businesses.
White House: August jobs report reassuring (Reuters) (Sep-3, 09:18 EDT )-- Reuters - The White House on Friday greeted a better than expected August employment report as reassuring news after a recent spate of "unsettling" economic data, and reiterated it was working with Congress to take additional steps to boost U.S. growth...
Non-manufacturing sector slows in August: ISM (Reuters) (Sep-3, 09:10 EDT )-- Reuters - The U.S. non-manufacturing sector grew in August for an eighth straight month but at a slower pace than July and at a rate that was below expectations, according to an industry report released on Friday.
Unemployment rate rises, in sign of weak growth (Sep-3, 08:54 EDT )-- The unemployment rate edged up and private sector job creation continued at a modest pace in August, the government said Friday, reflecting an economy that is treading water, neither accelerating into a robust recovery nor slipping into another...
Instant View: Payrolls fall by 54K, less than expected (Reuters) (Sep-3, 08:05 EDT )-- Reuters - U.S. employment fell for a third straight month in August, but the decline was far less than expected and private payrolls growth surprised on the upside, easing pressure on the Federal Reserve to prop up growth.
Service sector spotlight shines on Germany, China (Reuters) (Sep-3, 05:32 EDT )-- Reuters - Global service sector surveys highlighted a growing divergence in economic recovery on Friday with a pick up in growth in China and Germany but slowdowns in Britain and Spain and an expected deceleration in the United States.
Broke youth anti-crime groups want federal cash (AP) (Sep-3, 04:05 EDT )-- AP - A $1.6 billion congressional bailout of sorts could help financially flailing groups that fight to keep young people out of trouble, yet lawmakers are reluctant to take up the expensive proposal amid a sour economy and other, more pressing issues.
Obama to comment Friday on jobless report (AP) (Sep-3, 03:40 EDT )-- AP - President Barack Obama will speak to reporters Friday after the Labor Department releases its monthly jobless report.
White House considers pre-midterm package of business tax breaks to spur hiring (Sep-2, 22:06 EDT )-- With just two months until the November elections, the White House is seriously weighing a package of business tax breaks - potentially worth hundreds of billions of dollars - to spur hiring and combat Republican charges that Democratic tax policies...
'Overhaul' details rescue of U.S. automakers (Sep-2, 22:00 EDT )-- In one of the first detailed insider accounts by a member of President Obama's team, a chief architect of the federal bailouts for General Motors and Chrysler has penned a 300-plus page description of the policy improvisation performed by the...
AOL-Google revenue-sharing pact includes mobile, online video services (Sep-2, 21:45 EDT )-- AOL and Google announced Thursday a five-year renewal of their revenue-sharing pact, which will now include mobile search and online video, two areas that AOL chief executive Tim Armstrong called critical to the future of his company as it tries to...
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