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Auto sales post weakest August since 1983 (Reuters) (Sep-1, 21:08 EDT )-- Reuters - Automakers posted their weakest U.S. August sales in 27 years, underscoring uncertainty about the strength of the recovery in the world's largest economy.
Number of illegal immigrants in US now declining (AP) (Sep-1, 20:12 EDT )-- AP - The number of illegal immigrants living in the U.S. has dropped for the first time in two decades — decreasing by 8 percent since 2007, a new study finds. The reasons range from the sour economy to Mexican violence and increased U.S....
NY mayor denies talk he might be Washington-bound (Reuters) (Sep-1, 17:21 EDT )-- Reuters - New York City Mayor Michael Bloomberg on Wednesday shot down speculation he might succeed Treasury Secretary Timothy Geithner, saying he would only leave office early if he were totally incapacitated or died.
Manufacturing grows in August (Reuters) (Sep-1, 17:17 EDT )-- Reuters - The U.S. manufacturing sector grew faster than expected in August, but private employers unexpectedly cut jobs, showing the economic recovery still faces headwinds.
Business Highlights (AP) (Sep-1, 16:48 EDT )-- AP - Weak auto sales for August amid economic worries
Summary Box: Auto sales fall as economy struggles (AP) (Sep-1, 16:38 EDT )-- AP - DOG DAYS: U.S. auto sales fell 5 percent in August from the prior month. They also fell 21 percent compared with August of 2009, when sales got a boost from Cash for Clunkers. It was the worst August for U.S. auto sales since 1983.
Special session on California budget unlikely now (Reuters) (Sep-1, 16:36 EDT )-- Reuters - California lawmakers may not be called into a special session on the state's budget stalemate, Governor Arnold Schwarzenegger said on Wednesday after Democrats and Republicans in the legislature killed rival plans to fill a $19 billion...
Weak auto sales for August amid economic worries (AP) (Sep-1, 16:21 EDT )-- AP - Americans nervous about the drumbeat of bad economic news stayed away from auto showrooms. Automakers nervous about their bottom lines didn't offer deals to lure them in.
Apple revamps iPods for fall product line (Sep-1, 15:50 EDT )-- Apple Inc. introduced a new line of iPods today, touting new colors, improved camera functionality and better battery life. Here is a play-by-play of Steve Job's demonstration of the music players to the public. Read more about Apple's fall product...
Summary Box: US manufacturing grows in August (AP) (Sep-1, 15:47 EDT )-- AP - GROWTH BUMP: U.S. manufacturing growth picked up in August from the previous month, according to an industry trade group, marking the 13th month of expansion in the industrial sector.
Caterpillar opens new Arkansas factory, hiring 600 (AP) (Sep-1, 15:36 EDT )-- AP - Caterpillar Inc. dedicated a $140 million road grader factory Wednesday, a facility that will employ 600 people and produce the big machines for markets around the world.
Romer: U.S. must find will for further stimulus (Reuters) (Sep-1, 15:34 EDT )-- Reuters - Departing White House economist Christina Romer said on Wednesday the United States needed to find the political will for more economic stimulus, even if it pushed up the fiscal deficit in the short run.
Apple revamps iPods in fall product line (Sep-1, 15:33 EDT )-- Apple Inc. introduced a new line of iPods today, touting new colors, improved camera functionality and better battery life. Here is a play-by-play of Steve Job's demonstration of the music players to the public. Read more about Apple's fall product...
Apple's jumps into the social network game with 'Ping' (Sep-1, 15:25 EDT )-- Apple Inc. introduced Ping today, a new social music network, included with iTunes 10. Here is a play-by-play of Steve Job's introduction of Ping to the public. Read more about Apple's fall product line on Faster Forward. Apple - iTunes -...
Schumer asks Fed to police business card marketing (AP) (Sep-1, 15:23 EDT )-- AP - U.S. Sen. Charles Schumer called on the Federal Reserve Wednesday to step in to help individuals avoid opening corporate credit cards that come with fewer protections than cards meant for consumers.
Manufacturing grows in August but private jobs cut (Reuters) (Sep-1, 15:17 EDT )-- Reuters - The manufacturing sector grew faster than expected in August, but private employers unexpectedly cut jobs, showing the economic recovery still faces headwinds.
Number of illegal immigrants in US now declining (AP) (Sep-1, 15:12 EDT )-- AP - The number of illegal immigrants living in the U.S. has dropped for the first time in two decades — decreasing by 8 percent as the sour economy dried up jobs and increased enforcement made it harder to sneak across the border with Mexico, a...
Apple unveils new box for streaming movies, TV (Sep-1, 15:11 EDT )-- Apple Inc. announced today a smaller, cheaper version of its Apple TV device for streaming movies and television shows over the Internet. Here is a play-by-play of Steve Job's introduction of Apple TV to the public. Read more about Apple's fall...
July unemployment up in about half of US cities (AP) (Sep-1, 15:10 EDT )-- AP - The unemployment rate rose in nearly half of the nation's 372 largest metro areas in July, as the pace of hiring slowed from earlier this year.
U.S. and Europe auto sales tumble as subsidies fade (Reuters) (Sep-1, 15:05 EDT )-- Reuters - Auto sales in the United States and Europe slumped in August, reflecting the end of government sales subsidies and underscoring uncertainty about the strength of the U.S. economic recovery.
Manufacturing in US and aboard lifts economy (AP) (Sep-1, 15:02 EDT )-- AP - Manufacturing is growing in the United States and abroad, easing fears that the economy might be on the verge of a second recession.
Why It's Harder to Be a Clueless Consumer (U.S. News & World Report) (Sep-1, 14:54 EDT )-- U.S. News & World Report - American consumers hate being told what to do, and to prove it, we routinely make choices that are irrational and counterproductive. We make impulse purchases we can't afford. We build bigger houses than we need, chaining...
Apple unveils new box for streaming movies, TV (Sep-1, 14:48 EDT )-- Apple Inc. announced today a smaller, cheaper version of its Apple TV device for streaming movies and television shows over the Internet. Here is a play by play of Steve Job's introduction of Apple TV to the public. Read more about Apple's fall...
Copper prices jump on improved manufacturing (AP) (Sep-1, 14:45 EDT )-- AP - Copper prices bounced to their highest level in four months Wednesday after gains in U.S. and Chinese manufacturing created an air of hope for an improving global economic recovery.
Ford, GM sales drop,Chrysler's up for Aug. (Sep-1, 14:42 EDT )-- GM and Ford sales dropped in August over last year - caused partly by the weak economy, partly because last years's numbers were spiked by the government incentive program known as Cash for Clunkers. GeneralMotors - Chrysler - Autos - Recreation ...
Unions gearing up to support Dems in November (AP) (Sep-1, 14:41 EDT )-- AP - Union leaders said Wednesday they will mobilize millions of members in 26 states with a message about "economic patriotism" as they try to help Democrats hold onto their majority in the House and Senate.
US auto sales turn frail in August (AP) (Sep-1, 13:54 EDT )-- AP - Auto sales, once a bright spot in the economic recovery, grew fainter last month.
Summary Box: US fears mean risk for ECB (AP) (Sep-1, 13:30 EDT )-- AP - THE SITUATION: Indicators are pointing up at the European Central Bank, which may be about to raise its 2010 economic projections. But that brightening picture is being increasingly darkened by fears about the recovery in the U.S.
Chief economist calls on Congress to 'finish the job of economic recovery' (Sep-1, 13:22 EDT )-- Departing White House chief economist Christina Romer called Wednesday on Congress to summon the political will to "finish the job of economic recovery" by pumping more cash into the economy through additional tax cuts for businesses and middle-class...
A look at economic developments around the globe (AP) (Sep-1, 13:12 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Wednesday:
Summary Box: Australian economic growth jumps (AP) (Sep-1, 13:10 EDT )-- AP - BOOMING: Australia's economy grew at its fastest pace in three years during the second quarter as demand from China and elsewhere in Asia boosted exports of iron ore and other commodities.
Metro Washington unemployment holds steady despite job gains (Sep-1, 13:06 EDT )-- Unemployment in the Washington region remained steady at 6.3 percent from June to July, according to federal government data released Wednesday, despite significant job growth during the past year. Washington - United States - Unemployment -...
GM says sales drop 25 percent, sees slower recovery (Reuters) (Sep-1, 12:58 EDT )-- Reuters - Asian auto sales soared in August, boosted by government incentives although U.S. economic uncertainty and slowing growth in China look set to curb demand, while in Europe car sales fell as scrapping bonuses ran out.
Ford, GM sales drop,Chrysler's up for Aug. (Sep-1, 12:26 EDT )-- GM and Ford sales dropped in August over last year - caused partly by the weak economy, partly because last years's numbers were spiked by the government incentive program known as Cash for Clunkers. GeneralMotors - Chrysler - Autos -...
5 Ways to Simplify Your Personal Finances (U.S. News & World Report) (Sep-1, 11:42 EDT )-- U.S. News & World Report - If you're combining your life with a new spouse, moving from one house to another, or just frustrated with the amount of documentation you have filed (or unfiled) in your basement, it's a good time to simplify your finances....
Mortgage applications rise 2.7 pct on low rates (AP) (Sep-1, 10:41 EDT )-- AP - Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.
The Great Value Investors Are Heading West (The Motley Fool) (Sep-1, 10:26 EDT )-- The Motley Fool - When Berkshire Hathaway (NYSE: BRK-A - News) was buying railroad company Burlington Northern last December, Warren Buffett told Matt Rose: "I've seen what's been done here [in the U.S.]. I think I know how the country is going to...
Manufacturing grows but private jobs tumble (Reuters) (Sep-1, 10:04 EDT )-- Reuters - The manufacturing sector grew faster than expected in August, chalking up a 13th straight month of expansion, helping to calm fears that economic growth was stagnating.
GM reports 7 percent sales dip compared with July (AP) (Sep-1, 09:54 EDT )-- AP - General Motors says its August sales dropped 7 percent compared with July, as the shaky economy discouraged customers from buying new cars and trucks.
Manufacturing sector grew faster in August (AP) (Sep-1, 09:44 EDT )-- AP - Manufacturing companies grew faster in August as the industrial sector continues to lead the recovery, and managers' desire to hire shot up to the highest level in nearly 30 years.
Construction activity declines 1 percent in July (AP) (Sep-1, 09:37 EDT )-- AP - Construction spending tumbled in July to the lowest level in a decade, as the housing market struggles in the weak economy and without a popular home-buying tax credit.
Manufacturing sector grows in Aug: ISM (Reuters) (Sep-1, 09:36 EDT )-- Reuters - The U.S. manufacturing sector grew more quickly than expected in August, chalking up a 13th straight month of expansion, according to an industry report released on Wednesday.
Midwest survey suggests major recession fears (AP) (Sep-1, 09:27 EDT )-- AP - More than a third of supply managers in nine Midwest and Plains states surveyed for a regional business index expect a recession in 2011.
US private employment slips for first time in 7 months (AFP) (Sep-1, 09:25 EDT )-- AFP - US private sector employment dropped in August for the first time in seven months, signaling a weakening economic recovery, payrolls firm ADP said Wednesday.
The True Risk of Bond ETFs (The Motley Fool) (Sep-1, 09:14 EDT )-- The Motley Fool - In coming up with ways to protect their portfolios, many investors draw on lessons learned from their most recent mistakes. Unfortunately, most people right now are taking the lessons they learned from the 2008 bear market and buying...
Biden: Time to turn attention from Iraq to economy (AP) (Sep-1, 08:34 EDT )-- AP - Vice President Joe Biden said Wednesday he's confident the various factions in Iraq will form a workable coalition and bring stability to the country, now that the U.S. combat role there has ended.
Retail data: Americans still cautious in August (AP) (Sep-1, 08:34 EDT )-- AP - Not even skinny jeans for $20 are pulling Americans into stores.
Political Economy: Exiting Romer to call for more spending (Sep-1, 08:29 EDT )-- In her final speech as White House chief economist, Christina Romer on Wednesday will call on Congress to summon the political will to approve additional spending on the economy. Economic - Christina Romer - Social Sciences - Barack Obama -...
Romer: U.S. must find will for further stimulus (Reuters) (Sep-1, 07:56 EDT )-- Reuters - Departing White House economist Christina Romer called on Wednesday for further steps to stimulate the U.S. economy, saying high budget deficits should not be an excuse for allowing the unemployed to suffer.
Instant View: Private sector sheds 10,000 jobs in August (Reuters) (Sep-1, 07:33 EDT )-- Reuters - U.S. private employers unexpectedly cut 10,000 jobs in August compared to a revised gain of 37,000 in July, a report by a payrolls processor showed on Wednesday.
US fears mean risk for European Central Bank (AP) (Sep-1, 07:26 EDT )-- AP - Indicators are pointing up at the European Central Bank, which may be about to raise its 2010 economic projections. But that brightening picture is being increasingly darkened by fears about the recovery in the U.S.
Chinese manufacturing, auto sales show rebound (AP) (Sep-1, 06:45 EDT )-- AP - Chinese manufacturing growth improved and auto sales rebounded in August, suggesting the world's second-biggest economy may not be slowing as quickly as feared.
U.S. planned layoffs in Aug hit 10-year low (Reuters) (Sep-1, 06:34 EDT )-- Reuters - The number of planned layoffs at U.S. firms fell 17 percent in August from the prior month and hit the lowest level in 10 years, a report on Wednesday showed.
SEC won't pursue fraud case against Moody's (Aug-31, 23:18 EDT )-- Moody's, one of three major credit rating firms that misjudged many of the securities at the center of the financial crisis, escaped legal action when regulators said they would not sue the company for fraud despite finding evidence that the firm...
Commerce takes a passon China currency (Aug-31, 22:13 EDT )-- The agency's decision sidesteps a major sore point in trade relations between the two countries. China - Asia - United States - United States Department of Commerce - Business and Economy
Featured Advertiser (Aug-31, 21:33 EDT )
Stocks edge up, but Fed report leaves investors wary (Aug-31, 21:33 EDT )-- NEW YORK - The stock market ended its worst August since 2001 with meager gains Tuesday after minutes from the latest Federal Reserve meeting showed officials' increasing concern about the economy. Business - Investing - Stocks and Bonds -...
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