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Discounts spur surprising Aug. retail sales gains (AP) (Sep-2, 21:42 EDT )-- AP - This year's back-to-school season isn't as big a bust for retailers as they feared — or as last year's — but it's not great either.
Bumpy economy cited as helping improve U.S. roads (Reuters) (Sep-2, 20:43 EDT )-- Reuters - One upside of the worst U.S. economic slump since the Great Depression is that with fewer motorists on the road, the nation's highways are less congested and in better shape, a study said on Thursday.
Murdoch: Global economy is still not out of turmoil (Reuters) (Sep-2, 19:41 EDT )-- Reuters - News Corp Chief Executive Rupert Murdoch said the global economy is still in an uncertain state and the media industry is going through a fundamental transformation that is unpredictable
White House: No second stimulus being considered (Reuters) (Sep-2, 18:23 EDT )-- Reuters - The White House stressed on Thursday that no second economic stimulus package is being considered as part of new measures under review by President Barack Obama's team.
Obama adviser Summers to visit China September 4 (Reuters) (Sep-2, 17:36 EDT )-- Reuters - The White House said on Thursday that President Barack Obama's top economic adviser will visit China from Saturday for three days of meetings.
US policy under spotlight as unemployment expected to rise (AFP) (Sep-2, 17:36 EDT )-- AFP - A fresh batch of US unemployment figures will on Friday provide Americans with a crucial litmus test for the stuttering economic recovery and President Barack Obama's policies.
Recession talk quieted by improving economic data (AP) (Sep-2, 17:13 EDT )-- AP - The feeble economy exhibited a smidgen of strength Thursday, with mildly positive reports on jobs, store sales and housing.
Finaid.org clock offers sobering message about rising student loan debt (Sep-2, 15:46 EDT )-- In Midtown Manhattan two years ago, the billboard-size clock that keeps track of the U.S. national debt ran out of digits when the figure ballooned to $10 trillion. Student loan - Business - Financial Services - Education - Financial Planning
Economic data damp down fears of new recession (Reuters) (Sep-2, 15:32 EDT )-- Reuters - Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.
25 percent of employed were jobless during recession, study says (Sep-2, 15:02 EDT )-- Just over a quarter of the nation's 139 million currently employed workers endured a bout of unemployment during the Great Recession, according to results of a Pew Research Center survey released on Thursday. And they tend to be less satisfied in their...
Summary Box: ECB raises eurozone growth forecast (AP) (Sep-2, 15:01 EDT )-- AP - OUTLOOK IMPROVES: The European Central Bank raised its growth projections for the 16-nation eurozone after better-than-expected economic news.
Oil prices rise after mixed economic news (AP) (Sep-2, 14:51 EDT )-- AP - Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.
Bernanke takes blame for muddled message on Lehman (Reuters) (Sep-2, 13:33 EDT )-- Reuters - U.S. Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.
Political Economy: First-time claims for jobless benefits down slightly (Sep-2, 13:33 EDT )-- The number of U.S. workers filing for unemployment benefits fell only slightly last week and productivity at businesses dropped for the first time in eight quarters, according to government statistics released Thursday, reflecting an economic recovery...
A look at economic developments around the globe (AP) (Sep-2, 13:17 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Thursday:
5 Tax Moves to Make Now (U.S. News & World Report) (Sep-2, 13:16 EDT )-- U.S. News & World Report - It may seem a bit strange to be talking about income taxes in September. There are, however, good reasons to think about taxes well before April 15. For starters, there are some big changes in the tax code that go into...
Summary Box: Mortgage rates hit low of 4.32 pct. (AP) (Sep-2, 12:22 EDT )-- AP - RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent.
How to Get a Government-Backed, Zero-Down-Payment Mortgage (U.S. News & World Report) (Sep-2, 12:13 EDT )-- U.S. News & World Report - More than four years after real estate values peaked, the historic plunge in home prices remains fresh in the minds of mortgage lenders. After taking painful losses on delinquent home loans, banks have imposed tougher...
5 Reasons You Should Buy Your Latte (U.S. News & World Report) (Sep-2, 11:51 EDT )-- U.S. News & World Report - The Latte Factor, a term coined (and trademarked) by personal finance guru David Bach, is one of the most talked about concepts in the world of personal finance. But it might be based on faulty math.
Summary Box: Program puts tax refunds on plastic (AP) (Sep-2, 11:44 EDT )-- AP - FASTER REFUNDS: The Treasury Department is exploring ways to help people without bank accounts collect their tax refunds more quickly. A pilot program launching next year will let some consumers get the money on cards, rather than waiting for...
The Next 4 Dot-Com Buyouts (The Motley Fool) (Sep-2, 11:29 EDT )-- The Motley Fool - Shares of Salary.com (Nasdaq: SLRY - News) -- a small provider of human resources applications on the cloud -- soared 43% yesterday, after agreeing to be acquired by larger rival Kenexa (Nasdaq: KNXA - News).
Workers see higher health costs, less care (Reuters) (Sep-2, 11:21 EDT )-- Reuters - Companies are cutting healthcare costs further amid a continuing sour economy, scaling back benefits and shifting a greater share of the expense to employees.
Productivity falls while labor costs increase (AP) (Sep-2, 11:21 EDT )-- AP - American companies experienced the largest drop in workplace productivity this spring in nearly four years and a rise in labor costs, suggesting businesses may no longer be able to squeeze more work out leaner staffs.
Data shows jobless claims drop, retail sales rise (AP) (Sep-2, 10:53 EDT )-- AP - A weak economy got a little lift Thursday with new data suggesting companies aren't pursuing mass layoffs and stores are a little busier.
Highlights: Bernanke's testimony to financial crisis panel (Reuters) (Sep-2, 10:27 EDT )-- Reuters - The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony on Thursday to the Financial Crisis Inquiry Commission on the problem of financial institutions that are "too big too fail."
Mortgage rates hit record low: Freddie Mac (Reuters) (Sep-2, 10:25 EDT )-- Reuters - U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Factory orders rise 0.1 percent in July (AP) (Sep-2, 09:59 EDT )-- AP - Orders to U.S. factories managed a slight gain in July as a surge in demand for commercial aircraft helped offset widespread weakness in other areas.
Bernanke: Shut down banks if they threaten system (AP) (Sep-2, 09:51 EDT )-- AP - Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.
Communities key in foreclosure fight: Fed officials (Reuters) (Sep-2, 09:44 EDT )-- Reuters - Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery.
Instant View: Pending home sales rise in July (Reuters) (Sep-2, 09:34 EDT )-- Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.
Mortgage rates hit decades-low of 4.32 percent (AP) (Sep-2, 09:27 EDT )-- AP - Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
Mortgage rates hit decades-low of 4.32 percent (AP) (Sep-2, 09:27 EDT )-- AP - Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
Discounts spur surprising Aug. retail sales gains (AP) (Sep-2, 09:24 EDT )-- AP - American shoppers, taking advantage of deep discounts and tax-free holidays, opened up their wallets a little more for back-to-school spending, giving retailers surprisingly solid gains for August.
Bernanke cites "sadness" in letting Lehman fail (Reuters) (Sep-2, 09:15 EDT )-- Reuters - Federal Reserve Chairman Ben Bernanke said on Thursday he could not have legally saved Lehman Brothers from bankruptcy and the firm's catastrophic failure in 2008 was a source of sadness.
Pending home sales rise 5.2 percent in July (Reuters) (Sep-2, 09:12 EDT )-- Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.
Mortgage rates hit another record low: Freddie Mac (Reuters) (Sep-2, 09:04 EDT )-- Reuters - U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
(AP) (Sep-2, 09:02 EDT )-- AP - July factory orders edge up as strong demand for aircraft offsets weakness in other sectors.
(AP) (Sep-2, 09:02 EDT )-- AP - July factory orders edge up as strong demand for aircraft offsets weakness in other sectors.
US jobless claims fall for second straight week (AFP) (Sep-2, 08:41 EDT )-- AFP - The number of Americans filing new claims for jobless benefits fell faster than expected last week, extending a two-week decline, government data showed Thursday.
Jobless claims fall but productivity much weaker (Reuters) (Sep-2, 08:24 EDT )-- Reuters - New claims for U.S. unemployment benefits fell last week, but were still too high to signal a change in fortune for the troubled labor market.
Bernanke says 'too-big-to-fail' must end (AFP) (Sep-2, 08:19 EDT )-- AFP - The most important lesson to come from the financial crisis is that banks must not be allowed to become "too-big-to-fail," Federal Reserve chairman Ben Bernanke said Thursday.
ECB holds rates, extends liquidity lifeline (Reuters) (Sep-2, 08:10 EDT )-- Reuters - The European Central Bank held interest rates at a record low on Thursday and extended its liquidity safety-net in response to a lopsided recovery and worries about vulnerable banks.
Unemployment claims drop for second straight week (AP) (Sep-2, 08:10 EDT )-- AP - The number of people requesting unemployment benefits declined for the second straight week, suggesting that the slowing economy isn't prompting widespread job cuts.
US officials to visit China for talks (AFP) (Sep-2, 08:07 EDT )-- AFP - US National Economic Council chairman Larry Summers will visit China next week for talks on bilateral relations, China announced Thursday.
Political Economy: U.S. regulators fell short before financial crisis, Bernanke says (Sep-2, 08:03 EDT )-- U.S. regulators fell short in using their powers "forcefully or effectively" to stop risky practices by banks and were "slow to identify and address abuses" in subprime mortgage lending before the financial crisis, Federal Reserve Chairman Ben S....
No bank account? Get your tax refund on plastic (AP) (Sep-2, 07:18 EDT )-- AP - A new Treasury Department program to give people without bank accounts faster access to their tax refunds will help some avoid costly short-term loans. But careless consumers could end up racking up fees and padding bank profits.
Automakers report weak sales; recession-wary customers steering clear of showrooms (Sep-1, 23:32 EDT )-- Chastened by the recession, more U.S. consumers have become cheapskates: They are saving more and driving older cars. And that, in part, explains the historically dismal sales reports released Wednesday by automakers. GeneralMotors - Chrysler -...
U.S. government charges Pakistani Taliban leader Hakimullah Mehsud in CIA attack (Sep-1, 22:07 EDT )-- The U.S. government designated the Pakistani Taliban a terrorist group Wednesday and charged its leader, Hakimullah Mehsud, with involvement in a December suicide bombing that killed seven Americans at a remote CIA operating base in Afghanistan. ...
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