Latest headlines in Economy News
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Fed's Dudley: Financial reform needs global scope(Reuters) (Yahoo U.S. Economy 2010-02-09 00:22:10)
Reuters - A revamp of the financial system needs to be global in nature to prevent a repeat of the worst financial crisis in some 70 years, a top Federal Reserve policy maker said on Monday.
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Economy - Monday(Investor's Business Daily) (Yahoo U.S. Economy 2010-02-08 23:45:13)
Investor's Business Daily - The Treasury will auction $81 bil of notes and bonds in its quarterly refunding this week, the same as in the prior auction. Gov't officials said they've already raised enough to fund a budget deficit set to expand 14% this year. The Treasury's decision to stop increasing the size of its debt auctions could moderate the rise in bond yields, bolstering the economy as the Federal Reserve removes emergency stimulus. The narrower yield curve may cap mortgage rates as the Fed's $1.25 tril in mortgage-bond purchases is set to expire on March 31.
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Ex-Boeing engineer gets 15 years in spy case(Reuters) (Yahoo U.S. Economy 2010-02-08 22:20:32)
Reuters - A former Boeing Co engineer who was convicted last year of passing space shuttle secrets to the Chinese government in America's first economic espionage trial was sentenced on Monday to 15 years in prison.
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Chinese spy gets more than 15 years in prison(AP) (Yahoo U.S. Economy 2010-02-08 20:45:31)
AP - A Chinese-born engineer was sentenced Monday to more than 15 years in prison for hoarding sensitive information about the U.S. space shuttle that prosecutors say he intended to share with China.
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Jan retail sales seen to rise(Reuters) (Yahoo U.S. Economy 2010-02-08 20:38:26)
Reuters - The median forecast for retail sales is for a rise of 0.3 percent after a 0.3 percent fall in December. Forecasts range from a drop of 1 percent to an increase of 0.8 percent.
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UPS plans pilot furloughs, sees gradual recovery(Reuters) (Yahoo U.S. Economy 2010-02-08 20:14:59)
Reuters - United Parcel Service Inc , the world's largest package delivery service, announced plans on Monday to furlough at least 300 pilots as the very gradual pace of the U.S. economic recovery necessitates further cost-cutting.
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Job market gauge rises for 5th month: Conf Board(Reuters) (Yahoo U.S. Economy 2010-02-08 20:03:33)
Reuters - The U.S. job market improved in January for the fifth consecutive month, pointing to possible job growth in the first quarter of this year, a research group said on Monday.
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Fed's Bullard: May see asset sales late 2010(Reuters) (Yahoo U.S. Economy 2010-02-08 18:43:03)
Reuters - The Federal Reserve could sell off some assets later this year in an effort to whittle down its bloated balance sheet to avoid inflation, a senior Federal Reserve official said on Monday.
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US government plans new climate service(AFP) (Yahoo U.S. Economy 2010-02-08 17:55:43)
AFP - US President Barack Obama's administration announced plans Monday for a new office handling climate change, aiming to help businesses chart future plans as the nation shifts to a greener economy.
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Analyst upgrades Disney as economy improves(AP) (Yahoo U.S. Economy 2010-02-08 16:38:03)
AP - An analyst upgraded Walt Disney Co. on Monday, citing an improving economy that should give a lift to its business. But he also warned that the entertainment company's earnings will lag its peers due to weakness in its film studios and theme parks.
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Fed's Bullard: could see asset sales later in 2010(Reuters) (Yahoo U.S. Economy 2010-02-08 16:00:27)
Reuters - The Federal Reserve could begin to sell off assets later this year and should try to get its balance sheet down to a normal size before the next recession strikes, a senior Federal Reserve official said on Monday.
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Job market gauge rises for 5th month: report(Reuters) (Yahoo U.S. Economy 2010-02-08 15:01:49)
Reuters - The U.S. job market improved in January for the fifth consecutive month, pointing to possible job growth in the first quarter of this year, a research group said on Monday.
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Genesee & Wyoming 4Q slides; demand firms up(AP) (Yahoo U.S. Economy 2010-02-08 13:37:52)
AP - Regional freight railroad operator Genesee & Wyoming Inc. said Monday its fourth-quarter earnings fell 28 percent as a weak economy knocked down demand for the goods it hauls.
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AP analysis: US economic stress hit a peak in Dec.(AP) (Yahoo U.S. Economy 2010-02-08 12:38:21)
AP - Weakness in Western energy-producing states helped raise the average U.S. county's economic stress in December to its highest point since the recession began in December 2007, according to The Associated Press' monthly analysis of conditions in more than 3,100 U.S. counties.
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QuinStreet beacon of hope in 'lousy' IPO market(AP) (Yahoo U.S. Economy 2010-02-08 12:36:28)
AP - QuinStreet Corp., an Internet marketer that competes with Yahoo and Google, is the one beacon of hope in this week's crop of initial public offerings as the market contends with jitters spurred by concerns about the economy, and IPOs from companies with more than their fair share of debt.
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Failed job seekers add to homeless problem in ND(AP) (Yahoo U.S. Economy 2010-02-08 11:00:16)
AP - North Dakota has the lowest unemployment in the nation and a booming oil industry. But with its good fortune has come an unexpected problem: homelessness, as desperate job seekers flow into the state looking for work.
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Convicted Chinese spy to get espionage sentence(AP) (Yahoo U.S. Economy 2010-02-08 08:39:15)
AP - An elderly Chinese-born engineer convicted of economic espionage for hoarding sensitive documents that included space shuttle details faces sentencing Monday, and prosecutors are seeking a 20-year term.
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Japan bank lending slides as funding demand weak(Reuters) (Yahoo U.S. Economy 2010-02-08 07:33:57)
Reuters - Japanese bank lending logged its biggest annual fall in more than four years in January as companies faced with overcapacity and a murky economic outlook steered clear of borrowing for capital investment purposes.
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Greenspan Sees âSlowâ Recovery, Is âConcernedâ If Stocks Drop(Bloomberg) (Yahoo U.S. Economy 2010-02-08 05:00:01)
Bloomberg - Feb. 8 (Bloomberg) -- Former Federal Reserve Chairman AlanGreenspan said a U.S. economic recovery is âgoing to be a slow,trudging thing,â and that he âwould get very concernedâ ifstock prices continue to fall.
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Obama says economy turning corner to growth(Reuters) (Yahoo U.S. Economy 2010-02-07 22:29:44)
Reuters - President Barack Obama said on Sunday the economy has turned the corner and resumed growth.