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Obama: Choice between moving ahead or back (AP) (Jul-8, 21:58 EDT )-- AP - President Barack Obama on Thursday cast upcoming elections as a choice between the party that caused the economic meltdown and the one that's fixing it, seizing on a populist, sharply partisan theme for the critical November midterms.
US avoids labeling China currency manipulator (AFP) (Jul-8, 21:11 EDT )-- AFP - The US Treasury avoided labeling China a currency manipulator in a much delayed report to Congress but maintained that the yuan was undervalued.
Obama says U.S. will dig itself out of economic hole (Reuters) (Jul-8, 21:06 EDT )-- Reuters - President Barack Obama defended his handling of the U.S. economy and blasted Republicans on Thursday for "peddling snake oil" as he went on a two-day campaign swing for fellow Democrats going into November's congressional elections.
Obama administration loses drilling moratorium appeal (AFP) (Jul-8, 18:36 EDT )-- AFP - The Obama administration lost its bid Thursday to maintain a six-month moratorium on offshore deepwater drilling which a federal judge ordered to be lifted last month.
Economy tempers American enthusiasm for the road (AP) (Jul-8, 16:49 EDT )-- AP - Americans won't be taking long road trips this summer — at least if the latest data on gasoline demand is any indication.
Agricultural Bank of China expected to announce record IPO (AFP) (Jul-8, 16:15 EDT )-- AFP - Agricultural Bank of China is expected to announce Friday a new world record IPO worth about 22.1 billion US dollars, underscoring investors' confidence in the Chinese economy.
Retailers post choppy June, deepen discounts (AP) (Jul-8, 15:59 EDT )-- AP - Stores deepened discounts more than planned in June to draw recession-scarred shoppers to buy summer tops and other merchandise. But shoppers bought mostly items they needed, resulting in small revenue gains.
Obama road-tests midterm message (Jul-8, 15:41 EDT )-- KANSAS CITY, MO. -- President Obama on Friday offered a sharp-edged preview of his election season campaign message, using a fundraiser for Senate candidate Robin Carnahan to cast the midterms as a choice between economic policies of the past and those...
Joblessness and housing add risks to U.S. recovery: IMF (Reuters) (Jul-8, 15:33 EDT )-- Reuters - High unemployment and a moribund housing market have increased risks to the U.S. economic recovery, while the public debt looms large and needs to be cut, the International Monetary Fund said on Thursday.
Jobless claims drop offering hope for recovery (Reuters) (Jul-8, 15:32 EDT )-- Reuters - New U.S. claims for jobless benefits fell last week to their lowest level in two months, offering cautious hope for an economic recovery that had shown signs of fatigue.
Obama: Choice between moving ahead or back (AP) (Jul-8, 15:28 EDT )-- AP - President Barack Obama on Thursday cast upcoming elections as a choice between the party that caused the economic meltdown and the one that's fixing it, seizing on a populist, sharply partisan theme for the critical November midterms.
US consumer credit dips for fourth straight month (AFP) (Jul-8, 15:02 EDT )-- AFP - Americans' borrowing fell for the fourth straight month in May, the Federal Reserve said Thursday, as they tightened their purse strings amid worries the economic recovery may stall.
A look at global economic developments (AP) (Jul-8, 14:55 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Thursday:
Consumer borrowing down sharply in May (AP) (Jul-8, 14:49 EDT )-- AP - Consumer borrowing fell again in May, more evidence that Americans remain jittery over their finances and the durability of the economic recovery.
Consumer borrowing down sharply in May (AP) (Jul-8, 14:49 EDT )-- AP - Consumer borrowing fell again in May, more evidence that Americans remain jittery over their finances and the durability of the economic recovery.
Berkshire downgraded to sell because of economy (AP) (Jul-8, 14:47 EDT )-- AP - An analyst advised investors Thursday to sell shares of Warren Buffett's Berkshire Hathaway Inc. because the economy may weaken over the rest of the year and hurt demand for its businesses that rely on consumer spending.
Jobless claims keep fluctuating as recovery slows (AP) (Jul-8, 14:30 EDT )-- AP - Applications for unemployment aid have been fluctuating from week to week, offering an uncertain view of layoffs and the job market.
Retailers steepen discounts after choppy June (AP) (Jul-8, 14:14 EDT )-- AP - Stores deepened discounts more than planned in June to draw recession-scarred shoppers to buy summer tops and other merchandise. But shoppers bought mostly items they needed, resulting in small revenue gains.
Obama defends handling of the economy (Reuters) (Jul-8, 13:49 EDT )-- Reuters - President Barack Obama on Thursday defended his handling of the economy and said his policies would boost job growth, as he began a two-day swing to campaign for Democrats in November's congressional elections.
Obama bemoans 'sledgehammer' recession (AFP) (Jul-8, 12:46 EDT )-- AFP - US President Barack Obama Thursday bemoaned a "sledgehammer" last decade of economic irresponsibility, but insisted his policies were succeeding in powering a genuine recovery.
Germany expecting stronger growth (AP) (Jul-8, 12:41 EDT )-- AP - Germany's economy will likely grow faster than expected this year, Finance Minister Wolfgang Schaeuble said Thursday.
Summary Box: Mortgage rates sink to 4.57 pct (AP) (Jul-8, 11:05 EDT )-- AP - RATES SET NEW LOW: Freddie Mac said Thursday the average rate for 30-year fixed loans dropped to 4.57 percent this week, the lowest on records dating back to 1971. That's down from the previous record of 4.58 percent set last week.
IMF presses US to cut debt (AFP) (Jul-8, 10:43 EDT )-- AFP - The International Monetary Fund on Thursday urged the United States to rein in its ballooning budget deficit without putting the "modest" economic recovery at risk.
H&R Block falls following resignation of CEO Smyth (AP) (Jul-8, 10:17 EDT )-- AP - Shares of H&R Block fell sharply Thursday after the CEO of the nation's largest tax preparation company resigned unexpectedly.
How states fared on jobless claims, at a glance (AP) (Jul-8, 10:00 EDT )-- AP - The Labor Department said Thursday that new claims for jobless benefits fell last week to their lowest levels in two months. But claims still remain elevated, a sign that hiring is slow and jobs remain scarce.
Retailers post tepid June, start to discount more (AP) (Jul-8, 09:44 EDT )-- AP - Americans didn't go on many shopping sprees in June, resulting in sluggish sales for many retailers. It often took deeply discounted clothing to get shoppers to spend — and then only if they needed it.
Mortgage rates drop to new low of 4.57 pct. (AP) (Jul-8, 09:15 EDT )-- AP - Mortgage rates fell for the second straight week to the lowest point in five decades, but they may not be enough to jump-start the housing market.
IMF presses US to cut debt (AFP) (Jul-8, 09:15 EDT )-- AFP - The International Monetary Fund on Thursday urged the United States to rein in its ballooning budget deficit without putting the "modest" economic recovery at risk.
IMF says U.S. recovering but sees unemployment, housing risks (Reuters) (Jul-8, 09:14 EDT )-- Reuters - High unemployment and a moribund housing market are constraining the U.S. economic recovery, while the public debt looms large on the horizon and needs to be addressed, the International Monetary Fund said on Thursday.
IMF calls for deficit cuts in US (AP) (Jul-8, 09:07 EDT )-- AP - The International Monetary Fund is calling for the United States to make a stronger effort to curb its budget deficits.
A. Schulman posts sharp jump in 3Q profit (AP) (Jul-8, 09:07 EDT )-- AP - Profits at A. Schulman Inc. grew sharply during the third-quarter, boosted by the improving economy and also some one-time gains, the plastics maker said Thursday.
Europe presents main threat to global recovery, IMF says (Jul-8, 09:03 EDT )-- Europe's weakened economy is now the central threat to global recovery, as its countries struggle with heavy debt, banks face a reckoning over their lack of capital and growth is slowing, the International Monetary Fund said Wednesday in its first...
(AP) (Jul-8, 09:00 EDT )-- AP - Mortgage rates fall again this week to 4.57 percent, lowest level in five decades.
(AP) (Jul-8, 09:00 EDT )-- AP - Mortgage rates fall again this week to 4.57 percent, lowest level in five decades.
New jobless claims offer hope for recovery (Reuters) (Jul-8, 08:45 EDT )-- Reuters - New claims for unemployment benefits fell more than expected last week to their lowest level in two months, offering cautious hope for the economic recovery that had shown signs of fatigue.
Initial claims drop last week but remain high (AP) (Jul-8, 08:39 EDT )-- AP - New claims for unemployment benefits dropped sharply last week, a sign that layoffs could be slowing. At the same time, hundreds of thousands of Americans are losing jobless aid because Congress has yet to pass an extension of benefits.
IMF lifts world growth forecast (Reuters) (Jul-8, 08:13 EDT )-- Reuters - The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.
US weekly jobless claims dip (AFP) (Jul-8, 08:12 EDT )-- AFP - New claims for US unemployment benefits dipped more than expected last week, official data showed Thursday, amid persistent concerns that a high jobless rate may scuttle the recovery.
Obama heads west to talk up recovery (AFP) (Jul-8, 07:50 EDT )-- AFP - US President Barack Obama takes to the road Thursday, on a two-day western swing designed to drive home his message of economic recovery, and fill campaign coffers ahead of November's elections.
Jobless claims drop sharply last week (Reuters) (Jul-8, 07:34 EDT )-- Reuters - New U.S. claims for unemployment insurance fell more than expected last week, government data showed on Thursday, while the number of people continuing to receive benefits in the final week of June was the lowest in seven months.
ECB holds rates at 1 percent, faces liquidity grilling (Reuters) (Jul-8, 07:00 EDT )-- Reuters - The European Central Bank held its main interest rate at a record low of 1.0 percent for the fourteenth month running on Thursday, as expected by economists.
Bank of England keeps rates at 0.5 percent as expected (Reuters) (Jul-8, 06:58 EDT )-- Reuters - The Bank of England's Monetary Policy Committee kept interest rates at a record low 0.5 percent on Thursday, in an almost universally expected decision that likely reflects policymakers' concerns about the growth outlook.
ECB keeps rates on hold at 1 percent (Reuters) (Jul-8, 06:48 EDT )-- Reuters - The European Central Bank kept its main interest rate on hold at a record low of 1.0 percent for the fourteenth month running on Thursday, as expected by economists.
Ahead of the Bell: Consumer Credit (AP) (Jul-8, 05:16 EDT )-- AP - Consumer borrowing likely fell again in May after posting a rare increase in April.
E.U. lawmakers vote overwhelmingly to cap bonuses of bankers after state bailouts (Jul-7, 23:00 EDT )-- European Union lawmakers have voted overwhelmingly to cap bankers' short-term cash bonuses from next year, a move that European leaders hope other parts of the world will follow. Financial services - Business - European Union - Bank - United States
Groups say time is now for public financing push (Jul-7, 23:00 EDT )-- Two interest groups plan to spend as much as $15 million this year on a nationwide campaign in favor of new public-financing legislation aimed at limiting the influence of wealthy donors and large corporations in congressional races. Business -...
Some states say they're not receiving the Medicaid services they're paying for (Jul-7, 23:00 EDT )-- MILWAUKEE -- The day after the House passed the landmark health-care bill in March, St. Louis-based insurer Centene saw its stock jump 11 percent. That was perhaps the first signal that the major changes ahead would be a boon to one subset of the...
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