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U.S. chipmakers' outlooks stoke economy concerns (Reuters) (Sep-9, 19:18 EDT )-- Reuters - Chip makers National Semiconductor and Texas Instruments Inc on Thursday issued quarterly financial targets that stoked investors' worries about a sluggish economy.
U.N. goals to slash poverty, hunger achievable: draft (Reuters) (Sep-9, 17:37 EDT )-- Reuters - A set of U.N. goals aimed at drastically reducing poverty and hunger worldwide by 2015 are achievable, despite setbacks caused by the global financial and economic crises, a draft document said.
Summary Box: Jobless claims drop, trade gap falls (AP) (Sep-9, 17:26 EDT )-- AP - JOBLESS CLAIMS: The number of people signing up for unemployment benefits dropped by 27,000 last week to 451,000, the lowest level in two months.
Business Highlights (AP) (Sep-9, 17:09 EDT )-- AP - Fears of a second recession ease, at least for now
US lawmakers to quiz Geithner on China currency (AFP) (Sep-9, 16:55 EDT )-- AFP - US Treasury Secretary Tim Geithner will face a key US House committee's questions on possible new steps to press China over its currency policy, the panel's chairman said Thursday.
Mortgage rates edge up; Housing market still slow (AP) (Sep-9, 16:27 EDT )-- AP - Record-low mortgage rates failed to pull the housing market out of its funk. Now rates are inching higher, but don't blame them if home sales stay sluggish.
California IOUs not needed this month: controller (Reuters) (Sep-9, 15:55 EDT )-- Reuters - California's August revenue came in above a budget forecast and as a result the state will not need to issue IOUs this month, the state controller said on Thursday.
Analysis: Obama has tenuous grip on Democrats over taxes (Reuters) (Sep-9, 15:51 EDT )-- Reuters - Democrats in Congress are distancing themselves from President Barack Obama's push to let taxes rise for the wealthiest Americans, fearing it will further harm them in November's mid-term elections.
Geithner urges tax breaks for small businesses (Reuters) (Sep-9, 15:31 EDT )-- Reuters - Treasury Secretary Timothy Geithner urged congressional support for tax breaks for small businesses and said that would help create jobs.
New report: more grandparents raising grandkids (AP) (Sep-9, 15:16 EDT )-- AP - The number of U.S. children being raised by their grandparents rose sharply as the recession began, according to a new analysis of census data. The reasons, while somber, were not all economic.
Summary Box: Gold slips on economic news (AP) (Sep-9, 15:10 EDT )-- AP - RISK APPETITE: Gold prices slipped after reassuring reports on the U.S. jobs market and trade created some optimism about the economy. The development spawned more appetite among investors for assets viewed as riskier than gold.
Gold slides on reassuring jobs, trade reports (AP) (Sep-9, 15:09 EDT )-- AP - Gold prices slid Thursday after reassuring reports on the U.S. jobs market and trade created some optimism about the economy.
Fears of a second recession ease, at least for now (AP) (Sep-9, 15:00 EDT )-- AP - No, the economy isn't roaring ahead. And no, companies aren't making lots of job offers. But a fresh batch of economic data Thursday at least eased summertime fears that the economy might be on the brink of another recession.
Oil gives back early gains, settles lower (AP) (Sep-9, 14:40 EDT )-- AP - Oil prices fell back on Thursday, after getting an early boost from lower jobless claims and crude inventories.
Retire Rich While Others Work Forever (The Motley Fool) (Sep-9, 14:32 EDT )-- The Motley Fool - The looming cloud hanging over our collective financial future has a big, fat silver lining -- if you bother to look for it.
A look at economic developments around the globe (AP) (Sep-9, 14:26 EDT )-- AP - LONDON — A leading international economic body said the global economy will recover slower than expected, but that a double-dip recession remains unlikely. The Paris-based Organization for Economic Cooperation and Development cautioned...
3 Texas men indicted in Va. in $103M scam (AP) (Sep-9, 13:46 EDT )-- AP - A federal grand jury in Richmond has indicted three Texas men for allegedly defrauding investors in their life insurance settlement businesses.
Steelworkers union targets China on green-energy exports (Sep-9, 12:51 EDT )-- The United Steelworkers union launched a broad challenge Thursday against what it alleges is illegal support for China's growing dominance in the renewable energy industry. The move targets China's practices in a sector that President Obama has said is...
Senate must pass small-business incentives, Voinovich says (Sep-9, 12:33 EDT )-- Retiring Sen. George Voinovich (R-Ohio) said he plans to help push a package of small-business incentives through the Senate next week, a move that would give President Obama and congressional Democrats a key victory on the economy in the final weeks...
Irish bonds rebound, banks hold ground after Anglo (AP) (Sep-9, 11:54 EDT )-- AP - Investors welcomed Ireland's plan to split up its most debt-crippled bank, Anglo Irish, by bidding strongly Thursday for government bonds. Ireland's battered bank shares also held their ground.
Merkel: economic upswing should benefit workers (AP) (Sep-9, 11:51 EDT )-- AP - German chancellor Angela Merkel said Thursday the current economic upswing should benefit workers who were hit by the economic and financial crisis.
Data shows economic recovery still on track (Reuters) (Sep-9, 11:39 EDT )-- Reuters - New U.S. claims for unemployment benefits fell more than expected last week to a two-month low, while the trade deficit narrowed sharply in July, hopeful signs for the stuttering economic recovery.
Obama better on war than economy: poll (AFP) (Sep-9, 09:46 EDT )-- AFP - US President Barack Obama gets better marks for his wartime leadership than his stewardship of the sluggish economic recovery, a new opinion poll found Thursday.
Global recession unlikely, OECD says (AP) (Sep-9, 09:46 EDT )-- AP - The global economic recovery could be slower than expected but another recession remains unlikely — especially if governments don't overdo their spending cuts, a leading international economic body said Thursday.
Avg. mortgage rate up to 4.35 pct. off decades-low (AP) (Sep-9, 09:35 EDT )-- AP - Mortgage rates mostly edged up last week as investors' fears about the economy eased.
US jobless claims drop faster than expected (AFP) (Sep-9, 09:35 EDT )-- AFP - The number of Americans filing new claims for jobless benefits fell faster than expected last week, extending a three-week decline, government data showed Thursday.
Avg. mortgage rate up to 4.35 pct. off decades-low (AP) (Sep-9, 09:35 EDT )-- AP - Mortgage rates mostly edged up last week as investors' fears about the economy eased.
Hopes rise as jobless claims fall, trade gap eases (AP) (Sep-9, 09:27 EDT )-- AP - The number of people signing up for unemployment benefits dropped to the lowest level in two months, an encouraging sign that companies aren't resorting to deeper layoffs even as the economy has lost momentum.
Political Economy: U.S. trade gap contracts sharply (Sep-9, 09:08 EDT )-- The U.S. trade deficit narrowed significantly in July and applications for unemployment benefits fell more than forecast, according to government reports that lifted hopes about the economic recovery. Economic - International - United States -...
Trade deficit narrows to $42.8 billion in July (AP) (Sep-9, 09:07 EDT )-- AP - The trade deficit narrowed significantly in July as exports climbed to the highest level in nearly two years, reflecting big gains in sales of U.S.-made airplanes and other manufactured goods while imports declined.
Obama adviser nudges Russia on democracy (Reuters) (Sep-9, 08:46 EDT )-- Reuters - Russia should uphold democratic rights and increase political competition if the Kremlin's plans to modernize its economy are to become reality, President Barack Obama's top adviser on Russia said on Thursday.
US trade deficit narrows sharply in July (AFP) (Sep-9, 08:44 EDT )-- AFP - The US trade deficit dropped more than expected in July as exports reached their highest level in two years, official data showed Thursday, boosting hopes for the US economic recovery.
Jobless claims add hope to labor outlook (Reuters) (Sep-9, 08:20 EDT )-- Reuters - New claims for unemployment benefits fell more than expected last week to a two-month low, while the trade deficit narrowed sharply in July, hopeful signs for the stuttering economic recovery.
Trade gap narrows more than expected in July (Reuters) (Sep-9, 07:57 EDT )-- Reuters - The trade deficit narrowed more than expected in July, as imports retreated and exports shot to their highest since August 2008, according to a government report on Thursday that could lift hopes for third-quarter economic growth.
(AP) (Sep-9, 07:33 EDT )-- AP - Trade deficit narrows sharply in July as exports rise to the highest level in nearly two years.
Bank of England holds rates at 0.5 percent (Reuters) (Sep-9, 06:36 EDT )-- Reuters - The Bank of England kept interest rates at 0.5 percent for the 18th month in a row and announced no new quantitative easing purchases, in a widely expected decision on Thursday.
US loses ground in competitiveness report (AP) (Sep-9, 06:28 EDT )-- AP - The U.S. has slipped down the ranks of competitive economies, falling behind Sweden and Singapore due to huge deficits and pessimism about government, a global economic group said Thursday.
Bank of England keeps rates at record low (AP) (Sep-9, 06:19 EDT )-- AP - The Bank of England says it is holding interest rates steady at a record low of 0.5 percent for the 18th consecutive month amid growing fears about a double-dip recession.
Global stocks rise, dollar steady (AFP) (Sep-9, 06:02 EDT )-- AFP - Global equities rose and the dollar steadied against the euro on Thursday amid renewed confidence in the economy and as markets awaited US jobs data and a British interest rate decision.
Federal Reserve 'beige book' signals widespread slowdown of economic growth (Sep-9, 01:34 EDT )-- The U.S. economy continued growing this summer but "with widespread signs of deceleration," according to the Federal Reserve's "beige book." The compilation of anecdotal information from companies in the 12 Fed districts offers a portrait of an...
Financial literacy campaign could save money for citizens, government (Sep-9, 01:33 EDT )-- As we continue to assign blame for the nation's economic mess, perhaps it would do us well to look in the mirror. Financial literacy - Education - Literacy - Organizations - Adult Literacy
World Economic Forum survey: Debt, financial crisis hurt U.S. competitiveness (Sep-8, 23:04 EDT )-- Large deficits and a weakened financial system have made the United States less competitive in the global economy, the World Economic Forum said in its annual review of the competitiveness of countries. World Economic Forum - Financial services -...
FDIC's Bair warns of government "exposure" in mortgages (Reuters) (Sep-8, 22:53 EDT )-- Reuters - A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.
Obama plan for corporate tax credit, infrastructure spending gets cool reception (Sep-8, 21:57 EDT )-- Facing a rising jobless rate and the possibility of a GOP blowout in the November midterm elections, President Obama sought Wednesday to convince voters that he is charting a new path to revive the American economy. Corporate tax - Tax - Barack...
Financial overhaul's unexpected fallout: Closing of D.C.'s Small Savers day care (Sep-8, 21:47 EDT )-- Washington's battle for regulatory reform wasn't supposed to have this kind of collateral damage. Screen Savers - Desktop Customization - Freeware - United States - Business
One-quarter of Lockheed Martin executives take buyout offer (Sep-8, 21:24 EDT )-- Bethesda-based contracting giant Lockheed Martin announced Wednesday that more than 600 executives have taken the company up on an early-exit program that provides financial incentives in exchange for leaving. Shopping - Associations - Coins -...
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