RSS Feed Alerts
Wall Street bill likely to preserve Fed independence (Reuters) (Jun-16, 21:11 EDT )-- Reuters - After suffering sustained criticism of its role in the financial crisis, the Federal Reserve looked set on Wednesday to emerge from an overhaul of financial regulations with its jealously guarded independence intact.
Fed faces more congressional scrutiny in bank bill (AP) (Jun-16, 19:52 EDT )-- AP - Looking to peer deeper into Federal Reserve activities, House and Senate lawmakers negotiating a massive financial regulation bill agreed Wednesday to expand congressional scrutiny of the nation's central bank.
Number of homeless down, but homeless families up (AP) (Jun-16, 19:34 EDT )-- AP - Families crowding together into single homes because of the bad economy helped increase the number of homeless families last year, even as the total number of homeless individuals dropped, federal housing officials reported Wednesday.
Senate considers revised tax bill (Reuters) (Jun-16, 18:58 EDT )-- Reuters - Senate Democrats on Wednesday offered a scaled-back jobless benefit and business tax break plan that also softens a new tax on investment fund managers after the Senate rejected a larger, costlier bill.
New Obama-backed stimulus package fails in Senate vote (The Christian Science Monitor) (Jun-16, 18:47 EDT )-- The Christian Science Monitor - In a vote Wednesday, the US Senate showed a restrained appetite for more economic stimulus spending.
Fed chief says financial stability key for regulators (AFP) (Jun-16, 18:40 EDT )-- AFP - Financial regulators should look beyond their primary role of safeguarding individual institutions by giving priority to market stability, Federal Reserve chief Ben Bernanke said Wednesday.
Housing Starts Stall As Factories Rev Up In 2-Track Economy (Investor's Business Daily) (Jun-16, 18:19 EDT )-- Investor's Business Daily - Housing starts plunged in May by the most in more than a year, the Commerce Department said Wed-nesday, as demand for homes faltered after tax credits expired. But industrial production jumped by the most in 10 months, the...
Senate tax bill revised amid deficit concerns (Reuters) (Jun-16, 17:37 EDT )-- Reuters - U.S. Senate Finance Committee Chairman Max Baucus on Wednesday offered a revised proposal to extend jobless benefits that he said would also soften a provision raising taxes on investment fund managers.
Jobless aid bill hits deficit wall in Senate (AP) (Jun-16, 17:17 EDT )-- AP - President Barack Obama's plea for more stimulus spending as insurance against a double-dip recession hit a roadblock in the Senate on Wednesday, the victim of election-year anxiety over huge federal deficits.
Bernanke says Fed is beefing up bank oversight (AP) (Jun-16, 17:13 EDT )-- AP - The Federal Reserve is working to beef up oversight of financial companies to better protect the nation from another financial crisis in the future, Chairman Ben Bernanke said Wednesday.
Citi, Fannie, Freddie offer Gulf mortgage relief (AP) (Jun-16, 16:08 EDT )-- AP - Homeowners in areas of the Gulf of Mexico affected by the BP oil spill can get mortgage relief from Citigroup Inc. and government sponsored mortgage purchasers Fannie Mae and Freddie Mac.
Stocks end flat; BP agrees to $20B victim fund (AP) (Jun-16, 15:58 EDT )-- AP - BP's agreement to put $20 billion into a fund for victims of the Gulf of Mexico oil spill lifted the stock market off its lows and sent the major indexes to a narrowly mixed finish.
Summary Box: Mortgage applications rise 18 pct. (AP) (Jun-16, 15:56 EDT )-- AP - APPLICATIONS UP : The number of customers applying for mortgages jumped 18 percent last week, a sign that the market could be stabilizing after dropping off sharply.
Home building plunges, industrial output surges (Reuters) (Jun-16, 15:48 EDT )-- Reuters - Housing starts hit a five-month low in May as a homebuyer tax credit expired while wholesale prices remained subdued, giving the Federal Reserve ample room to maintain its ultra-low interest rate policy.
Home building plunges, industrial output surges (Reuters) (Jun-16, 15:48 EDT )-- Reuters - Housing starts hit a five-month low in May as a homebuyer tax credit expired while wholesale prices remained subdued, giving the Federal Reserve ample room to maintain its ultra-low interest rate policy.
Wall Street ends flat on mixed economic data (Reuters) (Jun-16, 15:37 EDT )-- Reuters - Stocks finished flat on Wednesday as cautious comments from FedEx and weak housing market data overshadowed a surge in industrial production.
Citi, Fannie Mae offer mortgage relief to Gulf (AP) (Jun-16, 15:25 EDT )-- AP - Homeowners in areas of the Gulf of Mexico affected by the BP oil spill are getting mortgage relief from Citigroup Inc. and government sponsored mortgage purchaser Fannie Mae.
Minneapolis Fed says regional economy improving (AP) (Jun-16, 15:12 EDT )-- AP - The economy in the Upper Midwest is strengthening at a moderate pace, with gradual improvement expected to continue into next year, economists with the Federal Reserve Bank of Minneapolis said Wednesday.
FedEx profit beats expectations but shares fall (Reuters) (Jun-16, 14:59 EDT )-- Reuters - FedEx Corp said on Wednesday that healthcare and pension costs will pinch profits in 2011, sending its shares down despite quarterly results that beat analysts' expectations.
Unemployment bill dealt Senate defeat (AP) (Jun-16, 14:49 EDT )-- AP - Republicans and a dozen Democratic defectors in the Senate dealt a defeat to President Barack Obama Wednesday, just days after he pressed Congress to renew pieces of last year's economic stimulus bill.
Fed could escape toughest scrutiny in Wall Street bill (Reuters) (Jun-16, 14:40 EDT )-- Reuters - After heavy criticism of its handling of the financial crisis, the Federal Reserve on Wednesday appeared likely to escape the most aggressive congressional scrutiny of its interest rate deliberations.
Summary Box: Home building fails to lift recovery (AP) (Jun-16, 14:24 EDT )-- AP - CONSTRUCTION WEAK: New home and apartment construction fell 10 percent in May. That's a sign that builders won't be able to contribute much to the economic recovery.
Summary Box: Fannie, Freddie to delist from NYSE (AP) (Jun-16, 14:01 EDT )-- AP - GSE SHARES DELIST: Government-sponsored mortgage purchasers Fannie Mae and Freddie Mac plan to delist their shares from the New York Stock Exchange after their stocks had trouble meeting listing requirements.
Senate Democrats seek to alter tax bill (Reuters) (Jun-16, 14:00 EDT )-- Reuters - Senate Democrats on Wednesday worked to trim the cost of a bill to extend jobless benefits and popular business tax breaks after it failed a test vote by a wide margin because of budget deficit concerns.
Mortgage applications rise nearly 18 percent (AP) (Jun-16, 13:54 EDT )-- AP - The number of customers applying for mortgages jumped last week, a sign that the market could be stabilizing after dropping off sharply last month.
(AP) (Jun-16, 13:41 EDT )-- AP - BP chairman apologizes to American people for Gulf of Mexico oil spill.
Home construction fails to lift recovery (AP) (Jun-16, 13:40 EDT )-- AP - Homebuilders are sending a message: They won't be able to contribute much to the economic recovery now that government home-buying incentives have vanished.
Man charged in $1.9B scheme tied to downfall of Colonial Bank (Jun-16, 13:18 EDT )-- The former chairman of a large mortgage lending company has been charged in a $1.9 billion fraud scheme that contributed to the failure of Colonial Bank, one of the nation's 50 largest banks before it was seized by regulators last year, the Justice...
A look at global economic developments (AP) (Jun-16, 12:44 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Wednesday:
Obama volunteers face anger in gulf in wake of oil spill (Jun-16, 12:16 EDT )-- The Democrats of Mobile, Ala., have not forsaken President Obama, says Democratic activist Darlene Gay-Allen. But they have questions. Will scarce jobs become more scarce as the oil spill defiles their sliver of coastline on the gulf? Will it be safe...
U.S. double-dip recession very unlikely say economists (Reuters) (Jun-16, 12:14 EDT )-- Reuters - The U.S. economy is slowly healing and will avoid a relapse into recession, the American Bankers Association's economic advisory committee said on Wednesday.
U.S. to unveil steps to build on Iran sanctions (Reuters) (Jun-16, 10:44 EDT )-- Reuters - Senior U.S. officials will unveil on Wednesday new economic steps they plan to take to try to pressure Iran over its nuclear program and build on the latest round of U.N. sanctions, an Obama administration official said.
These 4 Junk Stocks Are on Their Way Up (The Motley Fool) (Jun-16, 10:22 EDT )-- The Motley Fool - When it comes to predicting the end of the housing bubble, ratings agencies did just about the worst job imaginable. But the bond market still pays plenty of attention to company bond ratings, and the impact of an upgrade or downgrade...
Economy Watch: Housing starts down in May (Jun-16, 10:06 EDT )-- Housing starts sank in May to the lowest level in five months, according to a government study released Wednesday. The drop captures builder unease about the housing market now that a lucrative federal tax credit aimed at energizing home buyers has...
Grand jury indicts mortgage co. chief in TARP case (AP) (Jun-16, 09:50 EDT )-- AP - A federal grand jury has indicted the chief executive of one of the largest privately held mortgage lending companies in the country for allegedly engaging in a fraud scheme that misappropriated $1 billion from the government's Troubled Assets...
Obama renews U.S. economic sanctions on N. Korea (Reuters) (Jun-16, 09:50 EDT )-- Reuters - President Barack Obama has extended U.S. economic sanctions on North Korea for another year, citing the continuing threat posed by Pyongyang's nuclear program, the White House said on Tuesday.
US wholesale prices down for second straight month (AFP) (Jun-16, 09:47 EDT )-- AFP - US producer prices dipped in May for the second consecutive month, government data showed Wednesday, easing any immediate inflation concerns in the world's largest economy.
Industrial production rises 1.2 pct. in May (AP) (Jun-16, 09:42 EDT )-- AP - Industrial production rose in May as manufacturing remained a key engine of the economic recovery.
Former mortgage executive charged with fraud (Reuters) (Jun-16, 09:33 EDT )-- Reuters - The former head of the now bankrupt mortgage lender Taylor, Bean & Whitaker Mortgage Corp has been charged with fraud in a scheme that led to the misappropriation of more than $1 billion, according to an indictment unsealed on Wednesday.
Obama to visit Columbus, Ohio, on Friday (AP) (Jun-16, 09:32 EDT )-- AP - President Barack Obama will talk about the economy and road building when he visits politically important Ohio on Friday.
Slide in home construction hurts stocks (AP) (Jun-16, 09:28 EDT )-- AP - Stocks fell Wednesday after home construction and applications for building permits slumped in May following the end of a homebuyer tax credit.
Wall St dips on FedEx, data, Spain worries (Reuters) (Jun-16, 09:26 EDT )-- Reuters - Stocks fell on Wednesday as FedEx warned about higher costs, housing starts fell to a five-month low and new concerns surfaced over Spain's fiscal problems.
Home building plunges to five-month low (Reuters) (Jun-16, 09:16 EDT )-- Reuters - Housing starts fell to a five-month low in May but industrial output rose, evidence of an uneven recovery that has kept inflation at a minimum.
Home building plunges to five-month low (Reuters) (Jun-16, 09:16 EDT )-- Reuters - Housing starts fell to a five-month low in May but industrial output rose, evidence of an uneven recovery that has kept inflation at a minimum.
US industrial output up (AFP) (Jun-16, 09:11 EDT )-- AFP - US industrial production rose to a nine-month high in May buoyed by a bustling manufacturing sector, the Federal Reserve said Wednesday.
Amid deficit worries, Dems trim unemployment bill (AP) (Jun-16, 09:10 EDT )-- AP - Virtually certain of losing a showdown vote in the Senate, Democrats frustrated in their quest to extend jobless benefits and help for doctors facing Medicare payment cuts are scaling back a catchall tax and spending bill.
Fannie Mae, Freddie Mac to delist shares on NYSE (Reuters) (Jun-16, 09:00 EDT )-- Reuters - Fannie Mae and Freddie Mac , the largest U.S. home funding companies, will delist their shares on the New York Stock Exchange after failing to meet minimum trading price requirements, the companies' regulator said on Wednesday.
Fannie Mae, Freddie Mac to delist shares from NYSE (AP) (Jun-16, 08:44 EDT )-- AP - Government-sponsored mortgage purchasers Fannie Mae and Freddie Mac plan to delist their shares from the New York Stock Exchange. Their shares tumbled in morning trading.
Home construction sinks, building permits down (AP) (Jun-16, 08:44 EDT )-- AP - Home construction plunged last month and building permits also fell, the latest signs that the construction industry won't fuel the economic recovery.
Wholesale prices fall 0.3 percent in May (Jun-16, 08:34 EDT )-- Wholesale prices declined in May as the European debt crisis led food and energy prices to drop sharply, the government said Wednesday. The data indicated that troubles in the global economy are creating downward pressure on inflation. Business -...
Wholesale prices fall 0.3 percent in May (AP) (Jun-16, 08:24 EDT )-- AP - Wholesale prices fell for a second straight month in May, the first time that has happened in a year, reflecting big declines in the cost of energy and food.
FedEx posts higher profit but warns about costs (Reuters) (Jun-16, 08:23 EDT )-- Reuters - FedEx Corp reported a quarterly profit on Wednesday that beat analyst expectations, but said costs would constrain its 2011 earnings, sending its shares down in premarket trading.
(AP) (Jun-16, 08:15 EDT )-- AP - Industrial production rises strongly in May as manufacturing remains a key engine of recovery.
EU, IMF deny planning Spain credit line (Reuters) (Jun-16, 07:59 EDT )-- Reuters - The EU and International Monetary Fund on Wednesday denied a report that they and the U.S. Treasury were drawing up a safety net for Spain including a credit line of up to 250 billion euros ($335 billion).
Producer prices ease in May as energy costs dive (Reuters) (Jun-16, 07:35 EDT )-- Reuters - Producer prices retreated in May as the cost of energy plunged, buying the Federal Reserve some time to maintain its ultra-low interest rate policy.
Housing starts drop to five-month low in May (Reuters) (Jun-16, 07:34 EDT )-- Reuters - Housing starts fell more than expected in May to their lowest level in five months, a government report showed on Wednesday, as a popular homebuyer tax credit that had buoyed construction activity over the past two months expired.
Housing starts drop to five-month low in May (Reuters) (Jun-16, 07:34 EDT )-- Reuters - Housing starts fell more than expected in May to their lowest level in five months, a government report showed on Wednesday, as a popular homebuyer tax credit that had buoyed construction activity over the past two months expired.
Hard times force French to work longer -- to age 62 (Jun-16, 07:28 EDT )-- PARIS -- The French government abandoned a sacred totem of its generous welfare system Wednesday to combat mounting deficits, announcing that workers soon will no longer have the right to retire at age 60 but will have to wait until they are 62. ...
Fed could emerge intact from Wall Street reform debate (Reuters) (Jun-16, 05:31 EDT )-- Reuters - After suffering more than a year of abuse over its role in the financial crisis, the Federal Reserve is poised to emerge with its powers relatively intact as lawmakers finalize a sweeping overhaul of financial regulations.
Market turmoil could derail recovery: EU's Rehn (Reuters) (Jun-16, 04:50 EDT )-- Reuters - Turmoil on sovereign debt markets could still derail economic recovery in Europe, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Wednesday.
Some for-profit schools face tougher recruiting restrictions under Obama plan (Jun-15, 23:00 EDT )-- The Obama administration proposed to tighten oversight of the booming for-profit sector of higher education on Tuesday, with rules that aim to curtail aggressive recruiting practices and that require schools to disclose graduation and job-placement...
KPMG relocates 300 employees from D.C. to Virginia (Jun-15, 23:00 EDT )-- KPMG is shuffling more than 300 employees from its downtown District offices to Tysons Corner. With the move, the audit, tax and advisory firm will count roughly 800 employees at its new Virginia office and 650 at the D.C. locale. Virginia -...
Bring on the Barack and Tony Show (Jun-15, 23:00 EDT )-- The big question about President Obama's sit-down Wednesday with BP's Tony Hayward is, "Why didn't this happen six weeks ago?" Barack Obama - President - United States - Tony Hayward - Oil spill
House-Senate conference seeks to resolve differences in financial regulations (Jun-15, 23:00 EDT )-- With the C-SPAN cameras rolling, lawmakers involved in a rare House-Senate conference waded deep into the legislative weeds Tuesday, beginning to work in earnest on reconciling the two chambers' differences over financial regulations. United...
Lawmakers attack plans oil companies had in place to deal with a spill (Jun-15, 23:00 EDT )-- Five oil giants. Five plans for coping with an oil spill, all written by the same tiny Texas subcontractor. Oil spill - Environment - Energy - Petroleum in the Environment - Oil
Featured Advertiser (Jun-15, 23:00 EDT )
Markets jump as investors regain confidence in global recovery (Jun-15, 23:00 EDT )-- The stock market surged to its highest level in a month on Tuesday, as investors regained some confidence in the global economic recovery and brushed off concerns about finances in Greece and other European nations. Business - Storage - Hardware ...
8 House members investigated over fundraisers held near financial reform vote (Jun-15, 23:00 EDT )-- The Office of Congressional Ethics is investigating eight lawmakers who held fundraisers within 48 hours of a major House vote on a Wall Street reform bill or received substantial donations from business people with a financial stake in the bill,...
Joint legislative conference buckles down on financial reform (Jun-15, 21:57 EDT )-- With the C-SPAN cameras rolling, lawmakers involved in a rare, open House-Senate conference waded deep into the legislative weeds Tuesday, beginning to work in earnest on reconciling the two chambers' differences over new financial regulations. ...
Want to stop these emails? You can easily UNSUBSCRIBE
New: Youtube alerts! Get alerts when your favorite video is posted on Youtube.
New: You can now view your alerts online and in RSS!
* Hint: You can also receive separate emails for each category (health, recalls, etc.)