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Major online retailers split on plan to cut Saturday mail (Jun-22, 23:00 EDT )-- Lawmakers on Wednesday will hear split views on proposed cuts in Saturday mail delivery from two of the nation's leading online retailers and largest customers of the U.S. Postal Service. Online shopping - Business - Email - Retailing - FAQs ...
Obama warns insurance companies not to unnecessarily raise costs (Jun-22, 23:00 EDT )-- President Obama met with the chief executives of more than a dozen major insurance companies at the White House on Tuesday to caution them against using new requirements in the recently enacted health-care reform legislation as a pretext to...
Judge ends oil drilling freeze, White House appeals (AFP) (Jun-22, 21:49 EDT )-- AFP - The White House vowed to issue a fresh moratorium on deepwater oil drilling due to BP's Gulf of Mexico spill after a judge blocked an earlier freeze, saying it would cause irreparable economic harm.
Voters to decide on California global warming law (AP) (Jun-22, 20:28 EDT )-- AP - An initiative that seeks to suspend California's landmark global warming law until unemployment drops qualified Tuesday for the November election ballot.
US urges 'vigorous implementation' of yuan plan (AFP) (Jun-22, 20:09 EDT )-- AFP - US Treasury Secretary Timothy Geithner has welcomed China's announcement that the yuan would float more freely against the dollar, but called for "vigorous implementation" of the move.
Obama administration urges caution on deficit cuts (AP) (Jun-22, 19:58 EDT )-- AP - President Barack Obama's top economic advisers are urging America's major economic allies not to sacrifice economic growth to efforts to trim budget deficits.
White House: No more neglected issues with Russia (AP) (Jun-22, 19:46 EDT )-- AP - Hosting Russian President Dmitry Medvedev for the first time, President Barack Obama will pivot from the national security challenges that have defined U.S.-Russia relations, with an eye on deepening the economic ties between the countries, White...
Existing-Home Sales Unexpectedly Dip (Investor's Business Daily) (Jun-22, 18:12 EDT )-- Investor's Business Daily - Home resales unexpectedly fell in May despite low interest rates and a tax credit aimed at boosting demand, an industry group said Tuesday, heightening worries about the strength of the U.S. economy as the Federal Reserve...
Obama: economy not moving as quickly as desired (Reuters) (Jun-22, 17:49 EDT )-- Reuters - President Barack Obama said on Tuesday the U.S. economy is making progress but is still not moving as quickly as he would like, which is why the country needs targeted fiscal policy measures to boost growth.
Obama says economy 'not moving as fast as we want' (AFP) (Jun-22, 17:28 EDT )-- AFP - President Barack Obama said Tuesday that the US economy was "not moving as fast as we want," amid a tepid recovery from the worst economic crisis in a generation.
CKE Restaurants posts 1Q net income loss (AP) (Jun-22, 16:34 EDT )-- AP - CKE Restaurants Inc. said Tuesday that it posted a loss in its first fiscal quarter on continued weak economy in California and high labor and ingredient costs.
Home sales down in May, dashing hopes of quick recovery (Jun-22, 15:47 EDT )-- Sales of previously built homes dropped in May after huge gains the previous two months , a sign that the federal tax credit that helped energize sales at the start of the selling season has sputtered out sooner than expected. Business -...
Experts Spotlight 8 Key Retirement Topics (U.S. News & World Report) (Jun-22, 15:20 EDT )-- U.S. News & World Report - MyRetirementPaycheck is worth a visit for anyone grappling with retirement issues. It was developed by the National Endowment for Financial Education (NEFA) in partnership with many leading retirement experts. The site...
Judge rules to end oil drilling freeze, White House appeals (AFP) (Jun-22, 15:20 EDT )-- AFP - A US judge Tuesday blocked a Gulf of Mexico deepwater drilling freeze, saying it would irreparably harm the economy and oil companies, and striking a blow to the Obama administration.
US lifts restrictions on refugees in Michigan (AP) (Jun-22, 15:15 EDT )-- AP - The U.S. State Department has decided to relax a two-year-old policy that limited refugee resettlement to the Detroit area because of Michigan's struggling economy.
7 Ways to Protect Your Retirement Savings (U.S. News & World Report) (Jun-22, 15:09 EDT )-- U.S. News & World Report - Baby boomers are understandably concerned about preventing their retirement investments from losing money. A recent Financial Planning Association and MetLife online survey asked 1,068 financial advisers with baby boomer...
Judge blocks Obama moratorium on deep-water drilling (Jun-22, 14:45 EDT )-- A federal judge in New Orleans on Tuesday blocked the six-month moratorium President Obama imposed on deep-water drilling in late May, and the White House said it would appeal the decision.. Barack Obama - United States - New Orleans - President ...
May home sales dip as housing market struggles (AP) (Jun-22, 14:38 EDT )-- AP - The housing market may be on the verge of taking another plunge that could weaken the broader economic recovery.
Merkel defends economic policy to Obama (AFP) (Jun-22, 13:58 EDT )-- AFP - Chancellor Angela Merkel Tuesday defended her economic policy ahead of a crunch G20 summit at the weekend, amid reports of a rift with US President Barack Obama over German austerity plans.
A look at global economic developments (AP) (Jun-22, 13:43 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Tuesday:
Fed begins two-day meeting against weaker backdrop (Reuters) (Jun-22, 13:06 EDT )-- Reuters - The Federal Reserve on Tuesday began a two-day meeting where it is expected to restate its intention to keep interest rates on hold near zero for "an extended period" and perhaps offer a less upbeat outlook for the economy.
Geithner sees bank bailout costs dropping (Reuters) (Jun-22, 12:23 EDT )-- Reuters - Taxpayer losses from the U.S. government's $700 billion financial bailout fund will likely come in below the officially projected $105 billion as the economy recovers, U.S. Treasury Secretary Timothy Geithner said on Tuesday.
Special Report: In the White House, economics is a contact sport (Reuters) (Jun-22, 12:12 EDT )-- Reuters - Blunt, brash, brainy and occasionally self-mocking. Larry Summers, the White House economic adviser, is all of these things. In a career spanning academia, government and finance, he has rubbed some people the wrong way and infuriated others.
Summary Box: Walgreen's 3rd-quarter earnings (AP) (Jun-22, 10:35 EDT )-- AP - RESULTS: Walgreen Co.'s fiscal third-quarter profit fell short of expectations. The Deerfield, Ill., drugstore chain said consumers remain cautious and unemployment is still high.
Wyo. personal income sees 1st growth in 5 quarters (AP) (Jun-22, 10:08 EDT )-- AP - Wyoming's Economic Analysis Division reports that personal income grew in Wyoming at a rate of 0.9 percent during the first quarter of 2010.
Wyo. personal income sees 1st growth in 5 quarters (AP) (Jun-22, 10:08 EDT )-- AP - Wyoming's Economic Analysis Division reports that personal income grew in Wyoming at a rate of 0.9 percent during the first quarter of 2010.
Why Mutual Funds Are Here to Stay (The Motley Fool) (Jun-22, 10:04 EDT )-- The Motley Fool - The way some people are talking, you might think that the multi-trillion-dollar mutual fund industry's days are numbered. But as long as investors believe they can beat the market -- and there will always be believers -- then mutual...
7 Ways Private Student Loans Are Getting Better (U.S. News & World Report) (Jun-22, 09:53 EDT )-- U.S. News & World Report - The credit crunch that caused bankers around the country to stamp "REJECTED" on millions of college loan applications appears to be easing. Banks, credit unions, nonprofits, and new alternative lenders are approving more and...
Census: With jobs scarce, Rust Belt cities decline (AP) (Jun-22, 09:49 EDT )-- AP - Hurt by the still-sluggish economy, Rust Belt cities and other U.S. manufacturing regions are suffering the biggest population losses as people search elsewhere for jobs.
New Tools Find Cheap Private Student Loans (U.S. News & World Report) (Jun-22, 09:43 EDT )-- U.S. News & World Report - Until recently, banks and other private lenders have made it hard for anyone to shop for college loans, in some cases because they didn't want to compete by cutting profit margins. But several web entrepreneurs and state...
Existing home sales weak but supply falls (Reuters) (Jun-22, 09:43 EDT )-- Reuters - Sales of previously owned homes fell unexpectedly in May as delays in processing mortgage applications hampered the closing of contracts benefiting from a popular homebuyer tax credit, an industry group said on Tuesday.
Existing home sales weak but supply falls (Reuters) (Jun-22, 09:43 EDT )-- Reuters - Sales of previously owned homes fell unexpectedly in May as delays in processing mortgage applications hampered the closing of contracts benefiting from a popular homebuyer tax credit, an industry group said on Tuesday.
National Pork Board targets ThinkGeek Web site: Blame the unicorns (Jun-22, 09:43 EDT )-- If you ever wonder what kind of work the lawyers for powerful industry groups get paid good money for, consider the case of the National Pork Board v. ThinkGeek Inc. National Pork Board - United States - ThinkGeek - cease & desist - Pork. The...
US economy still in 'incredibly difficult period': Geithner (AFP) (Jun-22, 09:40 EDT )-- AFP - US Treasury Secretary Timothy Geithner on Tuesday said the US economy was "still going through an incredibly difficult period," as he warned the impact of the crisis would be "lasting."
Treasury's Geithner: bank bailout costs falling (Reuters) (Jun-22, 09:24 EDT )-- Reuters - Costs for the emergency bank bailout program launched during the 2007-2008 financial crisis continue to fall as the U.S. economy recovers, Treasury Secretary Timothy Geithner told Congress on Tuesday.
World's rich got richer amid '09 recession (Reuters) (Jun-22, 09:12 EDT )-- Reuters - The rich grew richer last year, even as the world endured the worst recession in decades.
Government launching plan to halt homelessness (AP) (Jun-22, 08:04 EDT )-- AP - The government is launching a sweeping plan to try to end homelessness over time, promising smarter coordination among the many agencies that try to help people find stable housing and economic security.
UK's Osborne cuts 2010, 2011 growth forecasts (Reuters) (Jun-22, 07:44 EDT )-- Reuters - Britain's economy will grow more slowly than previously envisaged this year and next as a result of fiscal tightening but will subsequently pick up speed, finance minister George Osborne said on Tuesday.
Japan raises growth forecast to 2.6 percent (AP) (Jun-22, 05:49 EDT )-- AP - Japan's economy, the world's second largest, will expand at a faster pace in the current fiscal year than previously forecast as robust exports to Asia and improving corporate earnings are underpinning a broadening recovery.
German business confidence rises unexpectedly (AP) (Jun-22, 05:33 EDT )-- AP - German business confidence rose unexpectedly in June as the country's economic recovery continued, though firms are growing more worried about what awaits in the next six months, a closely watched survey showed Tuesday.
Oil firms challenge US drilling freeze (AFP) (Jun-22, 02:34 EDT )-- AFP - A US judge was to decide as early as Tuesday whether to lift a six-month freeze on deepwater drilling in the Gulf of Mexico, which officials here complain is strangling an economy already devastated by the massive oil spill.
Fed set to hold low rates as economy struggles (AFP) (Jun-21, 23:01 EDT )-- AFP - The US Federal Reserve opens a two-day meeting Tuesday set to leave ultra-low interest rates unchanged amid weak US jobs growth and renewed concerns about the strength of the economic recovery.
Orszag to resign as White House budget director, source says (Jun-21, 23:00 EDT )-- White House budget director Peter Orszag has decided to leave the Obama administration, likely in the next few weeks, a Democrat familiar with his plans said Monday night. His departure would make him the first member of President Obama's Cabinet to...
White House budget chief Orszag to step down (Reuters) (Jun-21, 22:19 EDT )-- Reuters - White House Budget Director Peter Orszag plans to leave his job in a few weeks, making him the first senior member of President Barack Obama's economic team to step down, Democratic sources said on Monday.
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