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Prudential Fin'l payouts to veterans OK in New Jersey: report (Reuters) (Aug-10, 21:28 EDT )-- Reuters - A New Jersey insurance regulator has concluded that Prudential Financial Inc properly handled life-insurance benefits in a controversial matter involving a U.S. soldier killed in Afghanistan, the Wall Street Journal said on Tuesday.
US Fed promises stimulus to help slowing recovery (AFP) (Aug-10, 21:15 EDT )-- AFP - The US Federal Reserve promised more stimulus spending to prop up the economy, as it warned the recovery had slowed.
Fed offers fresh aid to shaky recovery (Reuters) (Aug-10, 19:27 EDT )-- Reuters - The Federal Reserve on Tuesday took a small but significant step to counter a weakening U.S. economic recovery, saying it would use cash from maturing mortgage bonds it holds to buy more government debt.
Fed offers fresh aid to shaky recovery (Reuters) (Aug-10, 19:27 EDT )-- Reuters - The Federal Reserve on Tuesday took a small but significant step to counter a weakening U.S. economic recovery, saying it would use cash from maturing mortgage bonds it holds to buy more government debt.
Obama signs emergency bill to halt teacher layoffs (AP) (Aug-10, 18:52 EDT )-- AP - Summoned back from summer break, the House on Tuesday pushed through an emergency $26 billion jobs bill that Democrats said would save 300,000 teachers, police and others from election-year layoffs. President Barack Obama immediately signed it...
Economic Worries Spur Fed To Renew Treasury Purchases (Investor's Business Daily) (Aug-10, 17:52 EDT )-- Investor's Business Daily - The Federal Reserve downgraded its assessment of the economy again on Tuesday and will resume some asset purchases to support a recovery that will likely be "more modest" than previously expected.
Summary Box: Fed more worried about economy (AP) (Aug-10, 17:22 EDT )-- AP - DARKER VIEW: The Federal Reserve says the economic recovery is losing momentum, a more downbeat assessment than just two months ago.
Fed, worried about recovery, will buy US debt (AP) (Aug-10, 17:02 EDT )-- AP - As recently as two months ago, the Federal Reserve sounded optimistic about the economic recovery. Now the central bank is taking a new step that shows it is clearly more worried, but economists say it probably won't help much.
Summary Box: Treasury prices jump on Fed plans (AP) (Aug-10, 16:54 EDT )-- AP - STIMULUS PLAN: The Federal Reserve said it will use money from its investments in mortgage securities to buy government debt on a small scale.
Fed Moves to Support Low Mortgage Rates (U.S. News & World Report) (Aug-10, 16:52 EDT )-- U.S. News & World Report - Facing growing concerns that it's out of ammunition, the Federal Reserve pledged Tuesday to battle the slowing economy by purchasing more long-term U.S. Treasury securities.
Fed Moves to Support Low Mortgage Rates (U.S. News & World Report) (Aug-10, 16:52 EDT )-- U.S. News & World Report - Facing growing concerns that it's out of ammunition, the Federal Reserve pledged Tuesday to battle the slowing economy by purchasing more long-term U.S. Treasury securities.
Defining deflation, inflation and disinflation (AP) (Aug-10, 16:22 EDT )-- AP - DEFLATION: A widespread and prolonged drop in prices of goods and services, in the values of home, stocks and other asset prices, and a drop in wages. The nation's last serious bout with deflation was during the Great Depression during the 1930s.
Obama signs bill to help teachers (AP) (Aug-10, 16:21 EDT )-- AP - President Barack Obama has signed a bill that he says will save hundreds of thousands of teachers and other public workers from unemployment.
Commodity prices drop on signs recovery weakening (AP) (Aug-10, 16:06 EDT )-- AP - Industrial metals and energy pared their losses Tuesday after the Federal Reserve said it would buy government debt, signaling that it will act to support the economic recovery as needed. Gold prices settled lower before the statement, but shot up...
House OKs emergency bill to halt teacher layoffs (AP) (Aug-10, 15:56 EDT )-- AP - Summoned back from summer break, the House on Tuesday pushed through an emergency $26 billion jobs bill to protect 300,000 teachers, police and others from election-year layoffs. President Barack Obama was to sign the measure by day's end.
Dollar mixed as Fed aims to aid the recovery (AP) (Aug-10, 15:54 EDT )-- AP - The dollar was mixed against most major currencies Tuesday after the Federal Reserve announced plans to buy government debt on a small scale in an effort to aid the recovery.
Fed action signals new activism on economy (Aug-10, 15:47 EDT )-- With the economic recovery losing momentum, the Federal Reserve moved Tuesday to try to boost growth, an about-face by a central bank that has spent most of the last year winding down extreme steps to support the economy. Federal Reserve System -...
Former Sen. Stevens dies in Alaska plane crash; 5 fatalities reported (Aug-10, 15:40 EDT )-- Former U.S. senator Ted Stevens (R) and four other people died in the crash of a small plane Monday in a remote part of southwestern Alaska while en route to a fishing lodge with a group that included former NASA administrator Sean O'Keefe, a family...
Fed takes fresh steps to support fragile recovery (Reuters) (Aug-10, 15:39 EDT )-- Reuters - The Federal Reserve on Tuesday took a small but significant step to counter a weakening U.S. economic recovery, saying it would use cash from maturing mortgage bonds it holds to buy more government debt.
Fed takes fresh steps to support fragile recovery (Reuters) (Aug-10, 15:39 EDT )-- Reuters - The Federal Reserve on Tuesday took a small but significant step to counter a weakening U.S. economic recovery, saying it would use cash from maturing mortgage bonds it holds to buy more government debt.
Wall St ends lower after Fed, but off session lows (Reuters) (Aug-10, 15:32 EDT )-- Reuters - Stocks fell on Tuesday but closed off their lows after the Federal Reserve said it would take new steps to counter a weak recovery.
Oil prices settle lower after Fed statement (AP) (Aug-10, 15:22 EDT )-- AP - Oil prices regained some ground but settled lower Tuesday after the Federal Reserve announced a small move to boost the U.S. economic recovery.
A look at the Fed's June, August statements (AP) (Aug-10, 15:18 EDT )-- AP - A comparison of the Federal Reserve's statements from its last meeting on June 22-23 and the meeting Wednesday.
House approves $26 billion jobs bill (Aug-10, 15:11 EDT )-- Congress approved a final spurt of spending Tuesday to shore up the sluggish recovery, sending to the White House a $26 billion plan to save the jobs of thousands of teachers and other government workers. Employment - Travel and Tourism - United...
US Fed promises stimulus to help slowing recovery (AFP) (Aug-10, 15:09 EDT )-- AFP - The US Federal Reserve on Tuesday promised more stimulus spending to prop up an economic recovery it said had slowed in recent months.
More worried about recovery, Fed takes small steps (AP) (Aug-10, 15:09 EDT )-- AP - More worried about the strength of the economic recovery, the Federal Reserve took a small step Tuesday to give it a boost.
Will Smartphones Kill Credit Cards? (The Motley Fool) (Aug-10, 14:59 EDT )-- The Motley Fool - As if financial reform hasn't given credit and debit card companies enough to worry about, they must now grapple with an entirely new threat. The billion plastic payment cards we carry may soon be obsolete, their functions...
India protests Senate bill that raises H1B, L1 visa fees (Aug-10, 14:51 EDT )-- The government of India is protesting a bill in Congress that passed the House Tuesday and the Senate last week that would significantly raise U.S. visa fees for skilled workers. H-1B visa - United States - India - Immigration - Senate
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How Fed's policymakers hold power over your purse (AP) (Aug-10, 13:59 EDT )-- AP - The Federal Reserve's chief policymaking group meets Tuesday. The group has vast power over the finances of ordinary Americans, businesses and investors. The consequences of its interest-rate decisions range wide: from people's ability to get...
(AP) (Aug-10, 13:45 EDT )-- AP - Gov't: Initial probe finds no new Toyota safety issue beyond accelerator, mat problems.
Federal Reserve policymakers statement (AP) (Aug-10, 13:19 EDT )-- AP - Here is the policy statement issued Tuesday from the Federal Open Market Committee:
Productivity weakens in second quarter (Reuters) (Aug-10, 12:56 EDT )-- Reuters - Business productivity fell for the first time in 1-1/2 years in the second quarter and labor costs hardly rose, according to government data that underlined the halting pace of economic recovery.
Ex-White House social secretary Desiree Rogers to lead Johnson Publishing (Aug-10, 12:50 EDT )-- Desirée Rogers, the former White House social secretary, has been named chief executive officer of Johnson Publishing, the company announced Tuesday. White House Social Secretary - United States - President - White House - Government
You Need These Stocks in Your IRA (The Motley Fool) (Aug-10, 12:28 EDT )-- The Motley Fool - Smart investors use every tool they have to protect their hard-earned money. When it comes to retirement savings, there's no better place to save than a tax-favored account like an IRA. But once you have money in your IRA, how can you...
Business events scheduled for Wednesday (AP) (Aug-10, 12:23 EDT )-- AP - Major business events and economic events scheduled for Wednesday:
Obama urges House to pass bill to help teachers (AP) (Aug-10, 11:11 EDT )-- AP - President Barack Obama is urging lawmakers to pass a bill that he says will save hundreds of thousands of teachers and other public workers from unemployment.
Productivity falls 0.9 percent in second quarter (AP) (Aug-10, 09:56 EDT )-- AP - Worker productivity dropped this spring for the first time in more than a year, a sign that companies may need to step up hiring if they hope to grow.
House moves to help teachers, public workers (AP) (Aug-10, 09:55 EDT )-- AP - House members returned to steamy Washington in a rare August callback to clear a $26 billion jobs bill with unmistakeable implications for the midterm elections.
Wholesale inventories up in June but sales drop (AP) (Aug-10, 09:26 EDT )-- AP - Inventories at the wholesale level edged up slightly in June but sales fell by the largest amount in 15 months.
US productivity dips for first time since 2008 (AFP) (Aug-10, 09:00 EDT )-- AFP - US productivity fell unexpectedly in the second quarter for the first time since late 2008, the Labor Department said Tuesday, reflecting a slowing economy.
Fed ponders more easing as economy stumbles (Reuters) (Aug-10, 08:29 EDT )-- Reuters - The Federal Reserve's monetary policy committee gathered for a one-day meeting on Tuesday to consider, and perhaps adopt, additional measures to prop up a softening U.S. economic recovery.
Dollar gains ahead of Fed decision on rates (AP) (Aug-10, 08:26 EDT )-- AP - The dollar gained Tuesday as investors pared back bets that the Federal Reserve would announce new measures to keep the economic recovery going.
Productivity underlines slow pace of recovery (Reuters) (Aug-10, 08:18 EDT )-- Reuters - Non-farm productivity fell for the first time in 1-1/2 years during the second quarter and labor costs barely edged up, according to a Labor Department report on Tuesday that underlined a slowing pace of economic recovery.
Wall Street closely watching Fed's next move (AP) (Aug-10, 07:39 EDT )-- AP - Federal Reserve policymakers are pondering ways to jump-start the economic recovery. The trick: making sure whatever they do or say doesn't rattle Wall Street.
European shares weaken before Fed rate call (AFP) (Aug-10, 07:00 EDT )-- AFP - European stocks fell on Tuesday before a US Federal Reserve meeting that could unveil measures to boost the faltering American economy, dealers said.
China trade surplus soars as domestic demand flags (Reuters) (Aug-10, 06:40 EDT )-- Reuters - China's trade surplus surged unexpectedly in July to an 18-month high of $28.7 billion as exports beat forecasts, but a government-induced slowdown in investment took a toll on imports.
Small business optimism sags in July (Reuters) (Aug-10, 06:34 EDT )-- Reuters - Small business owners became more downbeat in July as expectations of weaker economic growth in the second half of the year reinforced a reluctance to hire, according to a survey published on Tuesday.
Dollar mixed before key Fed meet (AFP) (Aug-10, 05:58 EDT )-- AFP - The dollar rose against the euro but fell versus the yen on Tuesday as the market waited to see if the US Federal Reserve would make a fresh bid to support the struggling US economy.
Oil falls to below $81 ahead of Fed meeting (AP) (Aug-10, 03:07 EDT )-- AP - Oil prices fell below $81 a barrel Tuesday in Asia as investors looked to a Federal Reserve meeting for possible policy changes to boost U.S. economic growth.
Economists cut forecasts and see more Fed action (Reuters) (Aug-10, 00:22 EDT )-- Reuters - The economic recovery will fade as government supports dry up, and the Federal Reserve may need to do more to boost growth, economists said in a survey on Tuesday.
Japan interest rates on hold and no moves on yen (Reuters) (Aug-9, 23:57 EDT )-- Reuters - The Bank of Japan on Tuesday held off on new policy steps to combat a stronger yen, saving its limited firepower in case the currency's rise accelerates and threatens the fragile economic recovery.
JetBlue flight attendant Steven Slater arrested after leaving plane by emergency slide (Video) (Aug-9, 23:00 EDT )-- NEW YORK -- A JetBlue flight attendant, Steven Slater got into an argument with a passenger on a jetliner arriving at John F. Kennedy International Airport on Monday, cursed the passenger, grabbed a beer from the galley and then deployed an emergency...
GeoEye says satellite contract is worth $3.8 billion (Aug-9, 23:00 EDT )-- GeoEye, the Dulles-based satellite imaging company, on Monday confirmed details of a $3.8 billion contract it won from the National Geospatial-Intelligence Agency, which was announced Friday. GeoEye - Business - DigitalGlobe - Satellite -...
Google's deal on equal Internet access opens door to new clout (Aug-9, 23:00 EDT )-- Google has long presented itself as looking out for the little guy. It easily could have used its wealth and power to gain preferential treatment from Internet providers but always said it would not because that could prevent the next start-up in a...
Freddie Mac narrows loss, but firm needs more government aid (Aug-9, 23:00 EDT )-- Mortgage finance giant Freddie Mac said Monday that its loss in the second quarter narrowed but that taxpayers would still be on the hook for the foreseeable future. Freddie Mac - Apple - FannieMae - Macintosh - Operating Systems
4chan users seize Internet's power for mass disruptions (Aug-9, 23:00 EDT )-- One morning in June, Google's list of the top global searches began to fill up with random words: "fried chicken," "comic book stores," "gyms." Before anyone could stop it, a racial slur jumped to the No. 1 spot. 4chan - Religion and Spirituality...
China orders closure of more than 2,000 factories with poor energy efficiency (Aug-9, 23:00 EDT )-- BEIJING -- China has ordered 2,087 steel and cement mills and other factories with poor energy efficiency to close as the country struggles to cut waste and improve its battered environment. China - Energy - Technology - Conservation -...
Virginia stands to feel the most pain from defense cuts (Aug-9, 23:00 EDT )-- RICHMOND -- Virginia officials reacted with bipartisan dismay on Monday to Defense Department budget shifts that will cost the state thousands of jobs in coming years and will dramatically impact the economies of the Norfolk area and Northern Virginia...
Pentagon to cut thousands of jobs, defense secretary says (Aug-9, 23:00 EDT )-- Defense Secretary Robert M. Gates said Monday that the Pentagon will cut thousands of jobs, including a substantial chunk of its private contractors and a major military command based in Norfolk, as part of an ongoing effort to streamline its...
Fed leaders meet as U.S. economic recovery loses steam (Aug-9, 23:00 EDT )-- As Federal Reserve policymakers meet Tuesday, they will face the challenge of a faltering economic recovery without a clear consensus on what, if anything the central bank should do about it. Recreation - Storage - Hardware - Data Recovery -...
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Business Digest: Honda to recall nearly 400,000 vehicles (Aug-9, 23:00 EDT )-- Honda Motor is recalling the popular Accord and Civic passenger cars to address problems with an ignition switch that could allow the key to be removed without the transmission being shifted into park, its third recall for the problem since 2003. ...
Chrysler narrows second-quarter loss (Aug-9, 23:00 EDT )-- Any quarter in which Chrysler is able to narrow its losses must be counted as a victory for the smallest and most beleaguered of Detroit's Big Three, and that's what the company was able to report on Monday, a little more than one year after emerging...
For BP, a $3 billion start as end is in sight (Aug-9, 23:00 EDT )-- MIAMI -- BP advanced on the final lap toward permanently killing the source of the world's worst offshore oil spill and kicked off a $20 billion compensation fund with a $3 billion deposit Monday. BP - Business - Gulf of Mexico - Oil spill - Humor
Merck being probed for possibly violating anti-bribery laws (Aug-9, 23:00 EDT )-- TRENTON, N.J. -- Two federal agencies are probing drugmaker Merck for possibly violating anti-bribery laws in multiple foreign countries. Merck - Business - Allegedly Unethical Firms - Health - Schering-Plough
Rep. Maxine Waters cites similar ethics claims against a peer, who was cleared (Aug-9, 23:00 EDT )-- In defending herself against congressional ethics charges, Rep. Maxine Waters plans to put a surprising witness on the stand: The House Ethics Committee. Ethics - Philosophy - Maxine Waters - Applied - Democratic
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