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The Good And The Bad In July's Foreclosure Report (Aug-12, 09:32 EDT )-- Foreclosure activity was up in July, but the numbers were better than at this time last year. It's like a fun house mirror: Look at the report one way, and you see one thing; look another way, and the image changes. But the jobs picture remains just...
G.M. Continues to Rebuild, Earning $1.3 Billion in Quarter (Aug-12, 09:25 EDT )-- The second quarter net income of $1.3 billion sets the stage for the automaker to file an initial public stock offering as soon as Friday.
Wall Street Continues Its Retreat (Aug-12, 09:20 EDT )-- Unemployment claims, Cisco earnings and other data weighed on investors around the world.
News analysis: Stellar Earnings in Asia May Be as Good as It Gets (Aug-12, 08:58 EDT )-- The outlook for many of the region’s companies â€" household names around the world â€" is dimming, with economic problems weighing on the United States, Europe and Japan.
What We're Reading: Literacy (Aug-12, 08:31 EDT )-- Literacy in a digital age and a survey that purports to link promiscuity to cellphone use are on the reading list.
GM Posts $1.33 Billion Profit, Prepares IPO (Aug-12, 08:10 EDT )-- General Motors said Thursday it made $1.33 billion in the second quarter, a sign it's getting healthier as it prepares to sell stock to the public. It was the automaker's second straight quarterly profit for GM, which made $865 million in the first...
New Jobless Benefit Claims At Nearly 6-Month High (Aug-12, 07:46 EDT )-- New applications for unemployment insurance rose by 2,000 last week to a seasonally adjusted 484,000. Analysts had expected a drop. They have increased in three of the last four weeks and are close to their high point for the year of 490,000, reached...
The Latest Stonehenge Visitor Is the Downturn (Aug-12, 07:28 EDT )-- Renovation plans for the historic site in England have been further delayed because of government budget cuts.
The Bush Tax Cuts and Fiscal Responsibility (Aug-12, 07:03 EDT )-- The best step the American government could take to address growing budget deficits is to let the Bush tax cuts expire, two economists write.
Do I Owe My Employees a Career Path? (Aug-12, 06:43 EDT )-- Being responsible for your workers' jobs is hard. Being responsible for their careers is harder.
New Orleans Judge Picked to Handle Gulf Spill Suit (Aug-12, 03:00 EDT )-- A judicial panel has decided that the 300 plus lawsuits filed after the Deepwater Horizon blowout will be handled by a federal judge in New Orleans. The judicial panel said the federal court based in New Orleans is the best place for the litigation....
Critics: Teachers' Jobs Measure Cheats Children (Aug-12, 03:00 EDT )-- Congress is showering schools with $10 billion to bring back teachers who've been laid off. States are rushing to submit their applications to qualify for this unexpected summer windfall for school districts. The Education Department estimates the...
Financial Rescue Package Helped Firms Globally (Aug-12, 03:00 EDT )-- The 2008 rescue package known as TARP didn't just keep American banks from going under. The latest report from TARP's Congressional Oversight Panel says the $700 billion rescue package also kept foreign banks afloat. The panel points to the $70 billion...
As Exports Dipped, U.S. Trade Deficit Widened In June (Aug-12, 03:00 EDT )-- The U.S. trade imbalance ballooned by nearly 19 percent in June. U.S. exports actually declined as overseas customers bought less American goods. The trade deficit with China alone expanded to $26 billion in June -- the biggest imbalance since the...
Beer Sales Remain Strong For Anheuser-Busch InBev (Aug-12, 03:00 EDT )-- Brewing giant Anheuser-Busch InBev announced its quarterly results Thursday morning, and profits are up more than 7 percent. The company made $1.5 billion. The company attributes favorable weather and the World Cup.
Chaos Breaks Out Among Housing Aid Applicants (Aug-12, 03:00 EDT )-- For days, people in East Point, Ga., had been lining up to apply to be on the waiting list for federal housing aid. By the time officials began handing out applications, 30,000 people had gathered -- three times the number expected. A shoving match...
Sea Island Seeks Federal Bankruptcy Protection (Aug-12, 03:00 EDT )-- Sea Island, an exclusive resort off the coast of Georgia, has declared bankruptcy. The luxury resort is selling for a song, and reflects banks increasing willingness to do anything to get rid of bad assets. Sea Island was the site of the G-8 summit in...
Homes Lost To Foreclosure Up 6 Percent From 2009 (Aug-12, 00:53 EDT )-- The number of U.S. homes lost to foreclosure surged in July, another sign lenders are moving quicker to take back properties from homeowners behind in payments. Lenders repossessed 92,858 properties last month, up 9 percent from June and an increase of...
Global Youth Unemployment Reaches New High, Report Says (Aug-12, 00:50 EDT )-- The International Labor Organization said about 81 million people ages 15 to 24 were unemployed at the end of 2009 and the number would probably climb.
Race Car Driver Sues For Title Of Stolen Rare Ferrari (Aug-11, 23:00 EDT )-- The 1954 car, which could be worth $15 million, was stolen from a Cincinnati collector and ended up in Europe. Jacques Swaters says he bought it from a trader and then paid the original owner $600,000 when he learned it was stolen. The owner's daughter...
With The Recession Over, Where's The Growth? (Aug-11, 23:00 EDT )-- New surveys from both Bloomberg and MarketWatch show that economists are lowering their GDP forecasts for next year. That gloomy outlook fits with the latest data on falling exports and productivity: The economy is slowing down.
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