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Spike in layoffs feeds fear of faltering recovery (AP) (Aug-19, 21:00 EDT )-- AP - Layoffs are back, and that's bad news for the fragile economic recovery.
UN seen meeting aid goal for flood-hit Pakistan (AP) (Aug-19, 18:27 EDT )-- AP - The United Nations appeared to have met its target of $460 million in immediate aid for flood-stricken Pakistan on Thursday after the U.S. and other nations significantly upped their pledges.
How to Find the Best High-Dividend Stocks (U.S. News & World Report) (Aug-19, 16:54 EDT )-- U.S. News & World Report - The search for decent yet safe investment yields is more important than ever. This is no time to risk investment capital. Consumer prices are nearly flat and fears of deflation have been depressing stock values. It's...
Summary Box: Layoff spike feeds fear of slowdown (AP) (Aug-19, 16:17 EDT )-- AP - MORE LAYOFFS: Employers are cutting jobs again as the economic recovery slows. New applications for unemployment benefits rose to 500,000 last week, the third straight increase and highest level in nine months. Jobless claims usually rise as...
Economic numbers point to darker outlook (Reuters) (Aug-19, 15:53 EDT )-- Reuters - The frail U.S. economy received fresh setbacks as new U.S. jobless claims scaled a nine-month high last week and Mid-Atlantic manufacturing shrank in August for the first time in more than a year.
Budget analysts: Near-record 2010 deficit of $1.3T (AP) (Aug-19, 15:48 EDT )-- AP - This year's federal deficit will surpass $1.3 trillion, a slight improvement over last year's record red ink, Congress' top budget analysts said Thursday.
UN urges world to open wallets for Pakistan (AP) (Aug-19, 15:33 EDT )-- AP - The United Nations is putting the spotlight on more than 20 million Pakistani flood victims and urging governments and people around the world to open their wallets to help.
Oil prices settles under $75 on economic news (AP) (Aug-19, 15:31 EDT )-- AP - Oil prices slumped Thursday on new signs of listless economic growth reinforced concerns about whether Americans would spend more on fuel any time soon.
Caterpillar CEO says no double-dip recession (AP) (Aug-19, 15:28 EDT )-- AP - Caterpillar Inc.'s new CEO Doug Oberhelman says he doesn't believe there is any reason to expect a double-dip recession based on data he sees at the heavy equipment maker.
Wall Street slumps on poor economic data (AFP) (Aug-19, 15:16 EDT )-- AFP - Wall Street stocks slumped on Thursday, ending a two-day rally as disappointing unemployment and industrial data rekindled worries about the recovery of the US economy.
Summary Box: Mortgage rates drop to 4.42 pct. (AP) (Aug-19, 14:47 EDT )-- AP - RATES SINKING: The average rate for 30-year fixed loan fell this week to 4.42 percent, mortgage buyer Freddie Mac said. Analysts say they could dip below 4 percent if the economy worsens.
Summary Box: Mortgage rates drop to 4.42 pct. (AP) (Aug-19, 14:47 EDT )-- AP - RATES SINKING: The average rate for 30-year fixed loan fell this week to 4.42 percent, mortgage buyer Freddie Mac said. Analysts say they could dip below 4 percent if the economy worsens.
Oil prices sink on dire US economic data (AFP) (Aug-19, 14:43 EDT )-- AFP - Oil prices fell sharply Thursday in response to a batch of weak data which sparked fresh fears about the US economic recovery.
9 Reasons to Choose a New Home Over a Resale (U.S. News & World Report) (Aug-19, 14:36 EDT )-- U.S. News & World Report - As the mortgage crisis continues to inundate the market with distressed properties, today's house hunter has no shortage of cheap, foreclosed homes to pick through. But despite all those deals in the previously-owned home...
Fund manager finds plenty of virtue in sin stocks (AP) (Aug-19, 14:23 EDT )-- AP - So much for virtue. Sin is in.
What "The Oracle of the North" Sees Ahead (The Motley Fool) (Aug-19, 14:22 EDT )-- The Motley Fool - When Prem Watsa speaks, investors listen. The "Oracle of the North" may not get as much fanfare as his peers at Berkshire Hathaway (NYSE: BRK-B - News), but his record is no less impressive. He and his team at Fairfax Financial (OTC...
Bullard says Fed may need to buy more Treasuries (Reuters) (Aug-19, 14:20 EDT )-- Reuters - The Federal Reserve may need to ramp up its purchases of U.S. Treasury debt if price levels in the U.S. economy continue to show signs of softening, St. Louis Fed President James Bullard said on Thursday.
A look at economic developments around the globe (AP) (Aug-19, 13:21 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Thursday:
More tough economic times forecast by CBO (Reuters) (Aug-19, 13:08 EDT )-- Reuters - The economy faces even more difficult times ahead with chronic unemployment and slow manufacturing hurting the recovery, the head of Congress' budget agency said on Thursday.
Sears disappoints, fails to lure bargain-hunters (Reuters) (Aug-19, 12:55 EDT )-- Reuters - Sears Holdings Corp posted a wider-than-expected quarterly loss as the discount retailer failed to win new shoppers in a weak U.S. economy, sending its shares down about 8 percent.
Why GM stock may lure brave despite bad economy (AP) (Aug-19, 12:46 EDT )-- AP - Would you buy stock in a company that has hemorrhaged tens of billions of dollars for years and run through four bosses in quick succession just because it's turned a profit for a few months?
Obama to GOP: Stop blocking small business bill (AP) (Aug-19, 12:27 EDT )-- AP - President Barack Obama is urging Republican congressional leaders to stop blocking a bill aimed at helping small businesses hire more people.
Mortgage rates hit record lows: Freddie Mac (Reuters) (Aug-19, 10:51 EDT )-- Reuters - U.S. mortgage rates fell in the past week to the latest in a series of record lows amid concerns about the state of the U.S. economy, according to a survey released on Thursday by Freddie Mac , the second-largest U.S. mortgage finance company.
CBO sees difficult economic times ahead (Reuters) (Aug-19, 09:59 EDT )-- Reuters - The U.S. economy faces even more difficult times ahead with chronic high unemployment rates and slow manufacturing growth hurting the recovery, Congressional Budget Office Director Douglas Elmendorf said on Thursday.
Jobless claims rise to highest level in 9 months (AP) (Aug-19, 09:55 EDT )-- AP - Employers appear to be laying off workers again as the economic recovery weakens. The number of people applying for unemployment benefits reached the half-million mark last week for the first time since November.
Leading indicators rise 0.1 percent in July (AP) (Aug-19, 09:35 EDT )-- AP - A private research group said its gauge of future economic activity edged up in July, suggesting growth will be sluggish for the rest of the year.
Average mortgage rates hit low of 4.42 percent (AP) (Aug-19, 09:33 EDT )-- AP - Mortgage rates fell to the lowest level in decades for the eighth time in nine weeks, a sign that investors are concerned about the weak economy.
Average mortgage rates hit low of 4.42 percent (AP) (Aug-19, 09:33 EDT )-- AP - Mortgage rates fell to the lowest level in decades for the eighth time in nine weeks, a sign that investors are concerned about the weak economy.
How states fared on jobless claims, at a glance (AP) (Aug-19, 09:13 EDT )-- AP - New applications for unemployment benefits rose last week to their highest level since November, the Labor Department said Thursday, as employers appear to be cutting jobs as the economy weakens.
(AP) (Aug-19, 09:07 EDT )-- AP - Congressional budget analysts see 2010 deficit exceeding $1.3 trillion, just below 2009 total.
(AP) (Aug-19, 09:07 EDT )-- AP - Congressional budget analysts see 2010 deficit exceeding $1.3 trillion, just below 2009 total.
Mortgage rates hit another record low: Freddie Mac (Reuters) (Aug-19, 09:01 EDT )-- Reuters - Mortgage rates fell in the past week to the latest in a series of record lows amid concerns about the state of the U.S. economy, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Mortgage rates hit another record low: Freddie Mac (Reuters) (Aug-19, 09:01 EDT )-- Reuters - Mortgage rates fell in the past week to the latest in a series of record lows amid concerns about the state of the U.S. economy, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
US jobless claims jump to 500,000; nine-month high (AFP) (Aug-19, 08:47 EDT )-- AFP - The number of Americans filing new weekly claims for jobless benefits jumped unexpectedly to 500,000, the highest level in nine months, the government said Thursday, threatening recovery hopes.
Sears disappoints as consumers cut back (Reuters) (Aug-19, 08:45 EDT )-- Reuters - Sears Holdings Corp reported a wider-than-expected quarterly loss on Thursday as consumers curbed spending in a weak U.S. economy, and the retailer's shares fell more than 3 percent.
Corrected: Staples profit up, but taxes bite outlook (Reuters) (Aug-19, 08:11 EDT )-- Reuters - Staples Inc reported a higher quarterly profit, meeting expectations, and said it expects a modest economic recovery during the rest of the year.
Jobless claims at 9-month high (Reuters) (Aug-19, 08:00 EDT )-- Reuters - New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.
Instant View: Jobless claims rise more than expected (Reuters) (Aug-19, 07:55 EDT )-- Reuters - New claims for unemployment benefits unexpectedly climbed to a nine-month high last week, government data showed on Thursday, yet another setback to the frail economic recovery.
UK economy shows signs of strength (AP) (Aug-19, 07:44 EDT )-- AP - Surprisingly strong British retail sales and a further reduction in Britain's big budget deficit last month are giving rise to hope that the country's sputtering economy can maintain growth into the second half of the year.
India testing ways to access BlackBerry emails: source (Reuters) (Aug-19, 06:16 EDT )-- Reuters - India's security agencies are testing ways to access corporate email on Blackberry devices by obtaining encrypted data in a readable format, a government source said on Thursday.
Bundesbank: German economy to grow 3 pct in 2010 (AP) (Aug-19, 05:50 EDT )-- AP - Germany's economy is on course to grow by about 3 percent this year after a spectacular second-quarter growth spurt, the country's central bank said as it sharply raised its growth estimate.
Global stocks near one-week high (Reuters) (Aug-19, 03:20 EDT )-- Reuters - World stocks briefly hit a one-week high on Thursday as optimism on consumer demand boosted Wall Street, while the yen fell broadly after expectations rose Japan might announce additional monetary easing steps.
Fighting Obama education plans, colleges boost lobbying (Aug-18, 23:00 EDT )-- Academia may be a bastion of liberalism, but in the past two years, the higher education industry has often lined up opposite the White House and congressional Democrats -- and has spent a lot on lobbyists in the process. Education - United...
Hostile takeover bid for Potash Corp.; Target earnings up 14.3% in 2nd quarter (Aug-18, 23:00 EDT )-- Mining company BHP Billiton has launched a hostile takeover bid for Potash Corporation of Saskatchewan after the Canadian company rejected the miner's $38.5 billion all-cash offer as "grossly inadequate." Takeover - BHP Billiton - Canada - Potash...
GM files for IPO (Aug-18, 23:00 EDT )-- General Motors took the first formal steps on Wednesday to once again sell shares publicly, highlighting a remarkable turnaround for the corporate giant a year after its bankruptcy and setting the stage for Washington to withdraw from its majority...
SEC charges New Jersey with violating securities law (Aug-18, 23:00 EDT )-- The Securities and Exchange Commission took aim at troubled public pension systems Wednesday, charging New Jersey with civil fraud for lying about whether it had covered its pension obligations to teachers and other state employees. New Jersey -...
Judge decries lenient treatment of banks but approves Barclays deal (Aug-18, 23:00 EDT )-- A federal judge Wednesday denounced the Obama administration's treatment of major global banks accused of violating U.S. laws, saying the government lets them off easy by declining criminal prosecution in exchange for payments of hundreds of millions...
Girdles for men? Beer-bellied guys are taking a cue from the ladies. (Aug-18, 23:00 EDT )-- Further signs of the impending apocalypse: Men's girdles are now all the rage. Beer - Recreation - Food - Drink - Beverages
As gulf cleanup continues, BP will also struggle to clean up its brand (Aug-18, 23:00 EDT )-- HOUSTON -- The protesters have stopped coming here to wave angry signs in front of BP's large office campus. The boycotts of BP gas stations are tapering off, too -- both signs that the energy company's plug of the spewing Gulf of Mexico oil well is...
Local Digest (Aug-18, 23:00 EDT )-- Choice Hotels International, the franchisor of Comfort Inns, Clarion hotels and Econo Lodges, plans to sell $250 million of senior notes due in 2020 as it seeks to repay bank debt. United States - England - Canada - Digestion - Digestive enzyme
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Exercising new ability to spend on campaigns, Target finds itself a bull's-eye (Aug-18, 23:00 EDT )-- When Target gave money in July to a pro-business group in Minnesota, the company thought it was helping its bottom line by backing candidates in its home state who support lower taxes. Instead, the retailer has found itself in a fight with liberal and...
New rules on student debt shouldn't be limited to for-profit colleges (Aug-18, 23:00 EDT )-- The Obama administration wants for-profit career colleges to better prepare students for gainful employment and to improve debt-repayment rates. The government is threatening to pull access to federal student aid for colleges that fail to show progress...
Wall Street reform gives regulators power over executive pay (Aug-18, 23:00 EDT )-- For the all the changes to the regulatory fabric contained in the landmark Dodd-Frank law, none might be more significant to the financial sector's health than Section 956(a). Wall Street - Politics - United States - Health Care Reform - Business
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