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Obama: Time to turn the page in Iraq (Reuters) (Aug-31, 21:53 EDT )-- Reuters - President Barack Obama declared an end to the seven-year U.S. combat mission in Iraq on Tuesday and promised recession-weary Americans "my central responsibility" now is to repair the U.S. economy.
Factbox: Reaction to Obama's address on Iraq (Reuters) (Aug-31, 21:10 EDT )-- Reuters - President Barack Obama on Tuesday declared an end to the American combat mission in Iraq and said America's most urgent task now is restoring the sagging U.S. economy.
Obama: US combat in Iraq over, 'time to turn page' (AP) (Aug-31, 20:46 EDT )-- AP - Claiming no victory, President Barack Obama formally ended the U.S. combat role in Iraq after seven long years of bloodshed, declaring firmly Tuesday night: "It's time to turn the page." Now, he said, the nation's most urgent priority is fixing...
Bidding wars, scrapped holidays herald M&A pickup (Reuters) (Aug-31, 20:28 EDT )-- Reuters - August's unseasonable burst of dealmaking -- the busiest in over a decade -- could herald a wider rebound in M&A for the remainder of the year as low interest rates, record cash piles and low stock-market values encourage chief executives to...
Obama says 'most urgent task' is to restore US economy (AFP) (Aug-31, 19:39 EDT )-- AFP - US President Barack Obama Tuesday stressed his "most urgent task" is to restore the American economy and get the unemployed back to work.
Gartner cuts 2nd-half PC shipment growth outlook (AP) (Aug-31, 18:58 EDT )-- AP - Research firm Gartner Inc. on Tuesday lowered its forecast for global shipments of personal computers in the second half of the year, saying the change stems from economic uncertainty in the U.S. and Western Europe.
California lawmakers reject budget bills (Reuters) (Aug-31, 18:06 EDT )-- Reuters - Democrats and Republicans in California's legislature rejected rival budget plans on Tuesday on the last day of their regular session, leaving the government of the most populous U.S. state without an official spending plan in place.
Obama says reviving economy the most urgent task (AP) (Aug-31, 17:43 EDT )-- AP - President Barack Obama says his central responsibility as president is to restore the nation's fragile economy and to help put the millions of people who lost jobs back to work.
Ind. scientist accused of stealing trade secrets (AP) (Aug-31, 17:41 EDT )-- AP - A former Indiana scientist accused of illegally sending trade secrets worth $300 million to China and Germany was ordered detained Tuesday on rare charges of economic espionage.
Business Highlights (AP) (Aug-31, 17:01 EDT )-- AP - Americans' economic confidence ticks up slightly
Republican leads Senate race in Pennsylvania (Reuters) (Aug-31, 16:48 EDT )-- Reuters - Republican Pat Toomey has opened a 10-point lead over Democrat Joe Sestak among likely voters in a Senate race in Pennsylvania dominated by economic worries, according to a Reuters/Ipsos poll released on Tuesday.
Fed approves sale of Morgan Stanley stock shares (AP) (Aug-31, 16:40 EDT )-- AP - The Federal Reserve has approved a request by a Chinese sovereign wealth fund to acquire up to 10 percent of the voting shares of New York investment giant Morgan Stanley.
Divided Fed warns on 'sluggish' recovery (AFP) (Aug-31, 16:34 EDT )-- AFP - The US Federal Reserve expressed worry about a "sluggish" economic recovery Tuesday, according to minutes of an August meeting that highlighted divisions within the bank's top rate-setting panel.
Gold, silver rise as investors seek safer assets (AP) (Aug-31, 15:53 EDT )-- AP - Wary investors turned to gold Tuesday, sending the price to its highest level in two months, despite slightly more optimistic economic news.
US approves Chinese firm's stake in Morgan Stanley (AFP) (Aug-31, 15:53 EDT )-- AFP - The US Federal Reserve on Tuesday approved China Investment Corporation's bid to buy up to a 10 percent voting stake in investment giant Morgan Stanley.
Consumer confidence, home prices edge up (Reuters) (Aug-31, 15:53 EDT )-- Reuters - Consumer confidence rose modestly in August and home prices gained more than expected in June, easing some worries the economy is headed for another downturn soon.
Fed officials discussed further stimulus steps (AP) (Aug-31, 15:34 EDT )-- AP - Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.
Oil prices drop as economy still looks shaky (AP) (Aug-31, 15:21 EDT )-- AP - Some of the economic news was a little better on Tuesday, but it was not enough to keep oil prices from dropping again.
Survey: Workers remain nervous about employment (AP) (Aug-31, 15:18 EDT )-- AP - STILL NERVOUS: Americans remain nervous about their job security and the strength of the economy, according to a survey by jobs website SnagAJob.com.
Stock investors brace for another ugly September (AP) (Aug-31, 15:17 EDT )-- AP - The economy is weakening, home sales are plunging and stocks are on a long slide. Now comes something even scarier for investors — the beginning of what is traditionally the worst month in the market.
Obama adviser warns against tax cuts for wealthy (Reuters) (Aug-31, 15:10 EDT )-- Reuters - Temporarily extending tax cuts for the rich opens the door to permanent tax cuts and that is something the United States cannot afford, an economic advisor to President Barack Obama said on Tuesday.
Downsize for a More Affordable Retirement (U.S. News & World Report) (Aug-31, 14:48 EDT )-- U.S. News & World Report - Most people think retirement planning is about saving, investments, and the timing of retirement account withdrawals and Social Security benefits. Ensuring you have sufficient income is definitely one of the most important...
Ron Paul: Financial Reform Solved Nothing (The Motley Fool) (Aug-31, 14:48 EDT )-- The Motley Fool - "The American people will never again be asked to foot the bill for Wall Street's mistakes. There will be no more taxpayer-funded bailouts. Period."-- President Barack Obama, after passage of financial reform legislation
Cautious Fed report boosts demand for safety (AP) (Aug-31, 14:46 EDT )-- AP - The dollar dropped against the Japanese yen and Swiss franc, but traded mostly higher versus other currencies Tuesday after a cautious Federal Reserve report underscored fears about a slowdown in growth in the U.S., the world's largest economy.
Oil sinks on US recovery fears (AFP) (Aug-31, 14:36 EDT )-- AFP - Oil prices plummeted Tuesday for the second consecutive day as investors fretted over the pace of the US economic recovery and growing oil inventories.
Summary Box: Europe inflation cools off in August (AP) (Aug-31, 14:01 EDT )-- AP - INFLATION DOWN: Inflation in the 16 countries that use the euro fell in August, as consumer prices rose by 1.6 percent in the year to August, down from July's 20-month high rate of 1.7 percent.
Summary Box: Japanese factory output rises in July (AP) (Aug-31, 13:57 EDT )-- AP - JAPANESE PRODUCTION RISES: Japan's factory output unexpectedly rose in July for the first time in two months, up 0.3 percent from June. Production of machinery, chemicals and paper rose despite signs of a slowing global economy. That beat...
Republican leads Senate race in Pennsylvania (Reuters) (Aug-31, 13:53 EDT )-- Reuters - Republican Pat Toomey has opened a 10-point lead over Democrat Joe Sestak among likely voters in a Senate race in Pennsylvania dominated by economic worries, according to a Reuters/Ipsos poll released on Tuesday.
US Fed warns economic recovery looks 'sluggish' (AFP) (Aug-31, 13:34 EDT )-- AFP - A slew of poor economic data points to a "sluggish" US recovery in the coming months, the Federal Reserve's top committee said in minutes published Tuesday.
Summary Box: AIG's sale of Taiwan unit on rocks (AP) (Aug-31, 12:46 EDT )-- AP - NO WAY: Taiwanese regulators have rejected Primus Financial Holdings' planned purchase of AIG's Taiwan life insurance unit.
Rise in federal spending hits record for 2009, Census Bureau says (Aug-31, 11:08 EDT )-- Federal domestic spending increased a record 16 percent to $3.2 trillion in 2009, the Census Bureau reported Tuesday, largely because of the huge economic stimulus package enacted to rescue the sinking economy. United States Census Bureau -...
US consumer confidence up unexpectedly in August (AFP) (Aug-31, 10:03 EDT )-- AFP - US consumer confidence improved unexpectedly in August after falling two months in a row as Americans grappled with high unemployment and a weakening economy, a key survey showed Tuesday.
Americans' economic confidence ticks up slightly (AP) (Aug-31, 09:59 EDT )-- AP - Americans' confidence in the economy improved slightly in August, but the mood is still gloomy amid job worries, according to a monthly survey.
Consumer confidence and home prices edge up (Reuters) (Aug-31, 09:51 EDT )-- Reuters - U.S. consumer confidence edged up in August while prices for U.S. homes gained more than expected in June, providing a little relief for those concerned about a slowdown in the economic recovery.
Consumer Confidence inches up in August (AP) (Aug-31, 09:24 EDT )-- AP - Americans' confidence in the economy improved slightly in August, but the mood is still gloomy amid job worries, according to a monthly survey.
Consumer confidence rises modestly in August (Reuters) (Aug-31, 09:06 EDT )-- Reuters - Consumer confidence rose modestly in August, lifted by a mild improvement in the short-term outlook, according to a private report released on Tuesday.
(AP) (Aug-31, 09:00 EDT )-- AP - Consumer Confidence Index inches up to 53.5 in August, but Americans still gloomy on economy.
Obama to discuss U.S. economy in address on Iraq (Reuters) (Aug-31, 08:58 EDT )-- Reuters - President Barack Obama will avoid a "Mission Accomplished" moment on Tuesday when marking progress in ending the Iraq war, using an Oval Office address to mark the milestone and address the bigger issue for voters -- America's struggling...
Political Economy: Home prices increase in 20 major cities, with Washington among the leaders (Aug-31, 08:53 EDT )-- U.S. single-family home prices in 20 major cities saw a modest increase of 4.2 percent in the second quarter from a year earlier, but economists cautioned that the bounce was likely due to the final days of the tax credit and that prices would likely...
France proposes EU commodities markets regulation (Reuters) (Aug-31, 08:37 EDT )-- Reuters - France has sent detailed proposals to the European Commission calling for common action to regulate volatile commodities markets before it is due to head the Group of 20 economic powers, ministry officials said.
Ahead of the Bell: Consumer Confidence (AP) (Aug-31, 08:09 EDT )-- AP - A monthly report Tuesday on consumer confidence is expected to show that Americans remained gloomy in August as they grappled with job worries and an economy that's showing more signs of faltering.
India's economy grew 8.8 percent in June quarter (AP) (Aug-31, 07:44 EDT )-- AP - India's economy grew 8.8 percent in the June quarter, its fastest pace in over two years, as good farm and manufacturing output lifted growth back to its pre-crisis trajectory.
Eurozone inflation eases in August to 1.6 percent (AP) (Aug-31, 06:13 EDT )-- AP - Inflation in the 16 countries that use the euro fell in August, official figures showed Tuesday, reinforcing market expectations that the European Central Bank will not be raising borrowing costs this year.
Taiwan rejects Primus purchase of AIG unit (AP) (Aug-31, 06:12 EDT )-- AP - Taiwanese regulators on Tuesday rejected Primus Financial Holdings' planned purchase of AIG's Taiwan life insurance unit amid concerns that the Cayman Island-based firm may be backed by funds from rival China.
India GDP grows most since Dec 2007 (Reuters) (Aug-31, 05:56 EDT )-- Reuters - India's economy grew at its fastest pace in nearly three years in the April-June quarter on strong manufacturing growth and better farm output that may keep the central bank on its gradual monetary tightening path.
Global equities rocked by US economic fears (AFP) (Aug-31, 05:50 EDT )-- AFP - World stock markets sank heavily on Tuesday as investors shunned risky assets amid renewed fears over the United States economy, while Tokyo also dived on concern over the soaring yen, dealers said.
Oil slips on US recovery fears (AFP) (Aug-31, 05:07 EDT )-- AFP - World oil prices fell on Tuesday as investors fretted about the faltering US economic recovery ahead of the release of more key data later this week, analysts said.
Asian markets slip, yen rises on weak US data (AFP) (Aug-31, 04:53 EDT )-- AFP - Japan's multi-billion-dollar plans to boost its economy and rein in the yen were shrugged off Tuesday as a fresh set of poor data out of the US weighed on Asian markets.
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