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Enough with the economic recovery: It's time to pay up (Jun-10, 23:00 EDT )-- Just about now, you may be a bit confused about the economy. Business - Storage - Hardware - Data Recovery - United States
Little sympathy for private-equity types paying higher taxes on carried interest (Jun-10, 23:00 EDT )-- The folks who run investment partnerships such as Blackstone are proving to be fabulous dealmakers once again. At least when it comes to looking after their own interests. Carried interest - Venture capital - Business - Financial services -...
BP agrees to speed up payments to workers, others affected by oil spill (Jun-10, 23:00 EDT )-- The Obama administration announced Thursday that oil giant BP has agreed to expedite payments to people and businesses harmed by the widening oil slick in the Gulf of Mexico. But that was no cause for celebration for Lance Authement, a fourth...
House-Senate panel meets to reconcile differences in financial reform bill (Jun-10, 23:00 EDT )-- The final act in Congress's effort to rewrite the nation's financial regulations got off to a prickly start Thursday, as Democrats tacked on new provisions to the landmark legislation even before the first meeting of a House-Senate conference committee...
Some educators question if whiteboards, other high-tech tools raise achievement (Jun-10, 23:00 EDT )-- Under enormous pressure to reform, the nation's public schools are spending millions of dollars each year on gadgets from text-messaging devices to interactive whiteboards that technology companies promise can raise student performance. Business ...
Geithner testifies; U.S. and China continue negotiations on currency policies (Jun-10, 23:00 EDT )-- Negotiation with China has failed to produce a clear sense of when the country might change its controversial currency policy, Treasury Secretary Timothy F. Geithner said Thursday, as new trade data produced disappointing results for the Obama...
Politics can be risky business for a CEO (Jun-10, 23:00 EDT )-- As Meg Whitman, California's new Republican gubernatorial nominee, puts it, she and GOP Senate pick Carly Fiorina are the "worst nightmare" of career politicians: "two businesswomen from the real world who know how to create jobs, balance budgets and...
Ex-GM chief G. Richard Wagoner Jr. to join Post Co. board (Jun-10, 23:00 EDT )-- G. Richard "Rick" Wagoner Jr., who was ousted as chief executive of General Motors by the Obama administration, has been elected to The Washington Post Co.'s board of directors, increasing the board to 11 members, the education and media company said...
US: China currency policy threatens global reforms (AFP) (Jun-10, 21:54 EDT )-- AFP - US Treasury Secretary Timothy Geithner said Thursday that China's refusal to revalue its currency impeded global economic reforms, as he faced calls from lawmakers for retaliatory action.
Obama says he won't forget Gulf oil spill families (AP) (Jun-10, 18:46 EDT )-- AP - President Barack Obama on Thursday consoled relatives of the 11 workers killed in the Gulf oil spill disaster, acknowledging their "unimaginable grief" and personally assuring the families that he will stand with them.
Fed's Bullard: Senate bill politicizes Fed (Reuters) (Jun-10, 17:50 EDT )-- Reuters - A senior Federal Reserve official warned on Thursday that a Senate proposal to make the New York Federal Reserve Bank president a White House appointee risks injecting a dangerous dose of politics into the deliberations of the central bank.
No GM public offering before October: US Treasury (AFP) (Jun-10, 17:33 EDT )-- AFP - The US Treasury Department said Thursday there would be no initial public offering of government-rescued automaker General Motors before October.
Summary Box: House OKs higher gov't mortgage fees (AP) (Jun-10, 16:54 EDT )-- AP - FEES MAY RISE: Consumers who take out home loans guaranteed by the Federal Housing Administration could soon pay higher fees after House lawmakers approved a bill giving the agency power to hike monthly premiums.
Summary Box: Mortgage rates hit low for year (AP) (Jun-10, 16:27 EDT )-- AP - LOWEST RATES OF YEAR: Rates on 30-year fixed mortgages fell this week to an average of 4.72 percent, the lowest level of the year and barely shy of the all-time low.
Fed's `swap' loans drop to $1.24 billion (AP) (Jun-10, 16:25 EDT )-- AP - The Federal Reserve says it has $1.24 billion in loans outstanding through a program aimed at easing strains from the European debt crisis.
Summary Box: Jobless claims, exports fall (AP) (Jun-10, 16:19 EDT )-- AP - SLOWLY, SLOWLY: The economy is recovering but at a sluggish pace, as reports Thursday showed that initial jobless benefit claims fell slightly last week and exports dropped in April.
Industrial, materials stocks surge on China trade (AP) (Jun-10, 16:13 EDT )-- AP - Shares of commodity, industrial and materials stocks surged Thursday as reports from Asia provided investors some relief from fears about the global economic recovery.
Leonsis holdings under new Monumental Sports include Wizards, Verizon Center (Jun-10, 16:09 EDT )-- Washington Capitals owner Ted Leonsis christened his newly named $825 million sports empire Monumental Sports & Entertainment on Thursday as he took full control of the NBA Wizards and Verizon Center, a decade after becoming a minority owner to the...
Effort to block EPA from regulating greenhouse gases fails in Senate (Jun-10, 16:03 EDT )-- A Senate resolution to block the Environmental Protection Agency from regulating greenhouse gases failed narrowly Thursday, providing a temporary respite to environmental activists hoping to enact a mandatory cap on emissions before the end of the year...
Banks trim emergency borrowing from Fed (AP) (Jun-10, 16:00 EDT )-- AP - Bank borrowing from the Federal Reserve's emergency lending program over the past week fell to the lowest point in more than two years, further evidence that credit markets are improving.
Americans rebuilding wealth, slowly and unevenly (AP) (Jun-10, 15:54 EDT )-- AP - The rebuilding of Americans' wealth is proceeding in steps rather than strides.
Jobless claims fall slightly, trade gap widens (Reuters) (Jun-10, 15:32 EDT )-- Reuters - The number of U.S. workers filing claims for jobless aid fell modestly last week as the labor market recovery struggled for momentum, while a slip in exports in April supported views of moderate economic growth.
Don't overstep on financial reform, industry says (Reuters) (Jun-10, 15:31 EDT )-- Reuters - Policy makers reacting to the global financial crisis should avoid overstepping with harsh new rules that would have adverse economic effects and resist the urge to score political points, industry heads warned on Thursday.
House OKs plan for higher gov't mortgage fees (AP) (Jun-10, 15:29 EDT )-- AP - Higher monthly fees may be in the works for consumers who take out home loans guaranteed by the Federal Housing Administration, the primary source of mortgages for first-time homebuyers.
Jobless claims, exports fall in sluggish recovery (AP) (Jun-10, 15:06 EDT )-- AP - The picture of a steady but still sluggish recovery emerged from reports Thursday that showed fewer people are claiming unemployment aid while U.S. exports are slowing.
Don't Let Debt Get in the Way of Retirement (U.S. News & World Report) (Jun-10, 15:01 EDT )-- U.S. News & World Report - Paying off debt is hard enough when you're in the working world, making a steady paycheck every couple weeks. But once you near retirement, managing credit cards, auto loans, or a mortgage can be almost impossible - in fact,...
Congressional leaders lean on BP to do more (AP) (Jun-10, 13:23 EDT )-- AP - Congressional leaders stepped up pressure on oil giant BP to fully compensate economic victims of the Gulf spill as President Barack Obama offered condolences Thursday to the relatives of the 11 rig workers killed in the April 20 explosion.
A look at global economic developments (AP) (Jun-10, 13:19 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Thursday:
Base text for Wall Street panel includes changes (Reuters) (Jun-10, 13:12 EDT )-- Reuters - U.S. lawmakers tasked with hammering out a final version of financial-reform legislation will use as a starting point a bill that combines mortgage reforms passed by the House and the Senate, according to a summary obtained by Reuters.
Global markets surge on upbeat growth prospects (AFP) (Jun-10, 12:23 EDT )-- AFP - Stock markets around the world sprinted ahead Thursday on signs of robust economic momentum in Asia and Europe that also helped bolster the euro against the dollar.
China's currency policy threatens global reforms: US (AFP) (Jun-10, 11:58 EDT )-- AFP - China's refusal to revalue its currency is impeding global economic reforms, US Treasury Secretary Timothy Geithner said Thursday as Congress piled pressure on the government to retaliate.
Chinese exports leap, put yuan back under microscope (Reuters) (Jun-10, 11:37 EDT )-- Reuters - China's exports jumped in May, reassuring investors about the economy's strength but putting pressure on U.S. President Barack Obama to placate critics who say Beijing is keeping the yuan unfairly undervalued.
Household net worth up $1.1 trillion in first quarter (Reuters) (Jun-10, 11:16 EDT )-- Reuters - Household wealth rose by $1.1 trillion in the first quarter, reversing a sliver of the losses incurred during the deep recession, Federal Reserve data showed on Thursday.
China's currency policy dampening global reforms: US (AFP) (Jun-10, 09:38 EDT )-- AFP - China's refusal to revalue its currency is impeding global economic reforms, US Treasury Secretary Timothy Geithner said Thursday amid pressure from Congress to impose sanctions on the Asian giant.
Geithner says world economy needs China yuan reform (Reuters) (Jun-10, 09:37 EDT )-- Reuters - Treasury Secretary Timothy Geithner said on Thursday that reform of China's exchange rate is "critically important" to the U.S. and global economies and a more flexible yuan was in China's interest.
Freddie Mac: Mortgage rates hit low for year (AP) (Jun-10, 09:29 EDT )-- AP - Rates on 30-year fixed mortgages fell this week to the lowest level of the year and were barely shy of the all-time low.
New jobless claims dip for third straight week (AP) (Jun-10, 09:25 EDT )-- AP - New claims for jobless benefits fell for the third straight week but remain elevated, suggesting the labor market is still sluggish.
US initial unemployment claims fall (AFP) (Jun-10, 09:24 EDT )-- AFP - New claims for US unemployment benefits fell to 456,000 last week, according to government data published Thursday, in the latest sign of a slowly improving job market.
World stocks extend gains (AFP) (Jun-10, 09:19 EDT )-- AFP - Global stock markets rose further on Thursday after the Federal Reserve chief said the US economic recovery was on track and in the wake of positive Japanese economic growth data, dealers said.
5 Ways to Crush Your Credit Card Debt (U.S. News & World Report) (Jun-10, 09:19 EDT )-- U.S. News & World Report - A credit card can be a costly piece of plastic when you carry a balance. A recent survey by the Federal Reserve Board found that 46 percent of all American families are drowning in credit card debt and carry an average...
(AP) (Jun-10, 08:57 EDT )-- AP - Geithner says China has potential of becoming largest foreign market for U.S. exports.
Stocks open with a roar (Jun-10, 08:56 EDT )-- Stocks roared out of the gate this morning, as the Dow zoomed back up above the 10,000 level and all three major indices showed strong gains. Investing - Business - Stocks and Bonds - Equities - The Motley Fool
Economy Watch: Stocks open with a roar (Jun-10, 08:54 EDT )-- Stocks roared out of the gate this morning, as the Dow zoomed back up above the 10,000 level and all three major indices showed strong gains. Business - Investing - Stocks and Bonds - Equities - The Motley Fool
Trade deficit rises, demand for exports slips (AP) (Jun-10, 08:37 EDT )-- AP - The U.S. trade deficit rose to the highest level in 16 months as exports fell for the second time in three months, a potentially worrisome sign that Europe's debt troubles are beginning to crimp American manufacturers.
Jobless claim falls but trade gap widens (Reuters) (Jun-10, 08:23 EDT )-- Reuters - The number of workers filing new applications for unemployment insurance fell less than expected last week, while the trade deficit widened slightly in April, pointing to a moderate economic recovery.
Estimate of spilled oil goes up, and BP stock price goes down (Jun-10, 08:10 EDT )-- The stock price of BP continued to sink Thursday morning as it became increasingly clear that the amount of oil spewing out of the Deepwater Horizon well is substantially greater than the company or the federal government initially estimated. BP ...
Economy Watch: New jobless claims drop by 3,000 (Jun-10, 08:00 EDT )-- New jobless claims filed last week fell by 3,000 to 456,000, another sign that unemployment remains stuck stubbornly high. Business - Unemployment - Insurance - Financial Services - Claims
Jobless benefit rolls drop sharply; new claims dip (AP) (Jun-10, 07:55 EDT )-- AP - The tally of laid-off workers continuing to claim jobless benefits fell by the largest amount in almost a year, suggesting that more unemployed workers may be finding work.
SEC examining Goldman Sachs' Hudson deals: report (Reuters) (Jun-10, 07:10 EDT )-- Reuters - The U.S. Securities and Exchange Commission, which charged Goldman Sachs Group Inc with fraud in April, is investigating another mortgage-linked deal once pitched by the Wall Street firm, the Financial Times reported, citing people close to...
BoE holds rates, asset buying ahead of UK budget (Reuters) (Jun-10, 07:00 EDT )-- Reuters - The Bank of England made no change to interest rates or its bond purchase program on Thursday, as it waits for Britain's new government to reveal the extent of its fiscal austerity measures in a June 22 budget.
Landrieu: Drilling moratorium causes economic harm (AP) (Jun-10, 06:59 EDT )-- AP - Despite the massive oil spill in the Gulf of Mexico, Louisiana Sen. Mary Landrieu is reiterating her call to end the Obama administration's moratorium on deepwater drilling, saying it will cause economic hardship in the region.
Ahead of the Bell: Monthly Trade (AP) (Jun-10, 05:18 EDT )-- AP - The U.S. trade deficit is expected to widen slightly in April as a rebound in exports of aircraft will be offset by higher oil imports. Economists are concerned that all the turmoil in Europe will cut into U.S. exports in coming months, weakening...
Ahead of the Bell: Jobless claims (AP) (Jun-10, 05:12 EDT )-- AP - The number of people filing new claims for jobless benefits likely dipped last week for the third week in a row.
Chinese exports leap putting yuan back under microscope (Reuters) (Jun-10, 02:12 EDT )-- Reuters - China's exports jumped in May, reassuring investors about the economy's strength but putting pressure on U.S. President Barack Obama to placate critics who say Beijing is keeping the yuan unfairly undervalued.
Increase in inspectors hasn't kept pace with boom in offshore U.S. oil rigs and projects (Jun-9, 23:00 EDT )-- Over the past quarter-century, oil companies have pushed the frontiers of offshore drilling, sharply stepping up the number of deep-water rigs in the Gulf of Mexico. United States - Business - Energy - Oil and Gas - Drill Rigs
Obama orders cuts in federal building costs, could affect thousands of leases (Jun-9, 23:00 EDT )-- It soon could be lights out at thousands of government buildings across the country with President Obama scheduled to sign a memo Thursday ordering federal agencies to cut $8 billion worth of building costs by the end of the 2012 fiscal year. ...
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With sale of D.C.'s Politics and Prose, a bookstore's legacy is up for grabs (Jun-9, 23:00 EDT )-- Politics and Prose, the iconic independent bookstore on Connecticut Avenue NW that has held on against withering competition from Barnes & Noble, Amazon.com and Costco, is announcing what customers and employees have long feared: The place is for...
PharmAthene contract modification upheld (Jun-9, 23:00 EDT )-- PharmAthene said Wednesday that the federal government had denied a rival's challenge to an anthrax vaccine contract that could yield up to $78.4 million for the biotechnology company. Business - Healthcare - Industrial Goods and Services -...
FTC wins Countrywide settlement, but celebrates a little early (Jun-9, 23:00 EDT )-- It's an all-too-familiar Washington story. Officials call a news conference to pat themselves on the back for righting a wrong they shouldn't have allowed in the first place. Federal Trade Commission - Bank of America - Business - Bank of America...
Messages from alleged leaker Bradley Manning portray him as despondent soldier (Jun-9, 23:00 EDT )-- Bradley Manning, 22, had just gone through a breakup. He had been demoted a rank in the Army after striking a fellow soldier. He felt he had no future, and yet he thought that by sharing classified information about his government's foreign policy, he...
MPAA, myriad interest groups lobby on financial regulation bill (Jun-9, 23:00 EDT )-- The Motion Picture Association of America, the Envelope Manufacturers Association and the Illinois Farm Bureau are all trying to shape the same piece of legislation -- the financial regulation bill moving through Congress. Interest group -...
SEC's regional offices present managerial problems, become an obstacle to reform (Jun-9, 23:00 EDT )-- For nearly a decade, Julie Preuitt told her colleagues at the Securities and Exchange Commission's Fort Worth office that she had found problems at a fabulously successful investment firm in Houston, saying its unmatched returns were probably the...
CVS Caremark kicking Walgreens out of pharmacy network (Jun-9, 23:00 EDT )-- CVS Caremark said it will end rival Walgreens's participation in its retail pharmacy network in a month. The move would mean that people whose prescription drug benefits are handled by Caremark would not be reimbursed for prescriptions filled at...
Poll: Support plunges for offshore drilling; regulators blamed for Gulf spill (Jun-9, 23:00 EDT )-- Just a quarter of Americans back expanding offshore drilling in the wake of the BP oil spill, and most fault federal regulators for the environmental disaster in the Gulf of Mexico, according to a new Washington Post-ABC News poll. Gulf of...
Estimate of spilled oil goes up, and BP stock price goes down (Jun-9, 23:00 EDT )-- The stock price of BP plunged more than 15 percent Wednesday to a 14-year low as it became increasingly clear that the amount of oil spewing out of the Deepwater Horizon well is substantially greater than the company or the federal government initially...
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