Yahoo U.S. Economy - Source Information

Source URL: http://news.yahoo.com/i/1203;_ylt=Agi_2c6XWbuOz6nKv6kRUP6yBhIF
Number of headlines in database: 205
Last update: 2010-03-19 08:13:08

Yahoo U.S. Economy Headlines

  • Oil drifts below $82 as month-long rally stalls(AP) (2010-03-19 04:41:17)
    AP - Oil prices drifted below $82 a barrel Friday in Asia, pulling back from a monthlong rally that was fueled by mostly positive news about the U.S. economy.
  • Two-track economy: 9.7% unemployment, $200K cars(AP) (2010-03-18 22:43:58)
    AP - For the super-rich and everyone else, the economic recovery is taking place in two very different gears.
  • Business Highlights(AP) (2010-03-18 21:51:47)
    AP - Economic mixed bag: No inflation but little hiring
  • Summary Box: Recovery on two tracks(AP) (2010-03-18 21:46:17)
    AP - A TALE OF TWO CONSUMERS: The economic recovery is proceeding at different speeds. Unemployment remains high. Yet a British automaker said Thursday it's betting on the super-rich, introducing a new $200,000 car for sale in North America.
  • Cintas says profit fell as unemployment rose(AP) (2010-03-18 21:36:30)
    AP - Uniform maker Cintas Corp. said Thursday that a sagging job market dragged down its profit by nearly a third in its fiscal third-quarter.
  • Fed's emergency loans decline in past week(AP) (2010-03-18 20:55:01)
    AP - Banks borrowed less from the Federal Reserve's emergency lending program over the past week in a further sign that the strains from the financial crisis are fading.
  • Obama signs multibillion-dollar jobs bill(AFP) (2010-03-18 20:39:09)
    AFP - President Barack Obama offered hope Thursday that the faltering US economy will soon create more jobs, as he signed a multibillion-dollar employment package to aid the fragile recovery.
  • US key indicators point to slower economic growth(AFP) (2010-03-18 19:16:06)
    AFP - A key index tracking the US economy barely rose in February, indicating that economic growth after a brutal recession may have peaked, the Conference Board said Thursday.
  • Data points to modest recovery, muted inflation(Reuters) (2010-03-18 17:59:53)
    Reuters - The economy is on a moderate growth path and inflation pressures are contained, data showed Thursday, backing up the Federal Reserve's vow to keep benchmark interest rates ultra-low for some time.
  • Obama signs multibillion-dollar bill to create jobs(AFP) (2010-03-18 17:57:18)
    AFP - President Barack Obama offered hope Thursday that a growing US economy may soon bring more jobs, as indicators pointed to a still-fragile recovery from the "great recession."
  • Fed officials warn against loss of bank oversight(Reuters) (2010-03-18 17:26:52)
    Reuters - Four top Federal Reserve officials chiefs urged Congress on Thursday not to strip the U.S. central bank of the authority to supervise small banks, saying they would lose an important finger on the pulse of the economy that helps them guide monetary policy.
  • Greenspan says Fed did not fuel the housing bubble(Reuters) (2010-03-18 17:01:36)
    Reuters - Former Federal Reserve Chairman Alan Greenspan, whose legacy has been tarnished by the global financial crisis, on Thursday laid out a scholarly defense of why Fed policy did not fuel the housing bubble.
  • FedEx sees economic recovery spreading(AP) (2010-03-18 16:29:48)
    AP - FedEx says the global economic recovery is broadening, as Asia continues to see strong growth and the U.S. economy gains steam.
  • US freezes assets of 'Hamas-controlled' INB bank, Al-Aqsa TV(AFP) (2010-03-18 16:23:52)
    AFP - The US Treasury on Thursday froze the assets of Gaza-based Islamic National Bank and Al-Aqsa Television, saying they were "controlled" by Hamas which Washington has branded a terrorist group.
  • Obama signs $17.6 billion jobs bill(Reuters) (2010-03-18 16:10:13)
    Reuters - President Barack Obama signed into law a $17.6 billion jobs bill on Thursday and sounded an optimistic note about the U.S. economy, saying it may soon begin adding jobs instead of losing them.
  • Larry Summers hits Rep. John Boehner on "punk staffers"(Reuters) (2010-03-18 15:36:08)
    Reuters - White House economic adviser Larry Summers hit back on Thursday at a senior Republican congressional leader's comment that "little punk staffers" are working on U.S. financial reform legislation.
  • New jobless claims dip slightly, CPI flat(Reuters) (2010-03-18 15:28:45)
    Reuters - New applications for U.S. jobless benefits fell last week and factory activity in the Mid-Atlantic region accelerated in March, suggesting the economy remained on a modest recovery path.
  • Mortgage rates still below 5 percent(AP) (2010-03-18 15:16:37)
    AP - Mortgage rates held below the 5 percent threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates at or near record lows.
  • Mass. jobless rate for Feb. holds at 9.5 percent(AP) (2010-03-18 15:11:11)
    AP - The Massachusetts unemployment rate held steady at 9.5 percent in February.
  • Ross Stores 4Q profit rises on sales gain(AP) (2010-03-18 15:07:33)
    AP - Ross Stores Inc. said Thursday that its fourth-quarter profit rose nearly 47 percent on a gain in sales of staples like shoes and home items as shoppers kept looking for bargains in the recession.
  • Leading indicators rise more slowly in February(AP) (2010-03-18 14:39:53)
    AP - A gauge of future economic activity rose 0.1 percent in February, suggesting slow economic growth this summer.
  • Economic mixed bag: No inflation but little hiring(AP) (2010-03-18 14:35:43)
    AP - The picture of an economy growing modestly without producing inflation yet struggling to create jobs emerged from government reports Thursday.
  • Weekly US jobless claims down(AFP) (2010-03-18 14:26:21)
    AFP - New claims for unemployment benefits in the United States edged down last week but gave little respite to the troubled labor market, government data showed Thursday.
  • Philly Fed factory activity index rises in March(Reuters) (2010-03-18 14:14:57)
    Reuters - Factory activity growth in the U.S. Mid-Atlantic region accelerated in March, a survey showed on Thursday.
  • FedEx says economic recovery is broadening(AP) (2010-03-18 14:09:17)
    AP - FedEx says the global economic recovery is broadening, as Asia continues to see strong growth and the U.S. economy gains steam.
  • U.S. leading economic index up modestly in February(Reuters) (2010-03-18 14:03:05)
    Reuters - A gauge of the U.S. economy's prospects rose marginally as expected in February, pointing to a moderate improvement in economic conditions, a private research group said on Thursday.
  • Regional Fed presidents defend bank oversight role(Reuters) (2010-03-18 14:01:23)
    Reuters - Presidents of regional Federal Reserve banks on Thursday defended their role in supervising small banks, and said ending it would cut a link between the central bank and the national heartland.
  • New jobless claims dip slightly(Reuters) (2010-03-18 13:01:11)
    Reuters - The number of workers filing new applications for unemployment benefits fell less than expected last week, while consumer prices were unchanged in February on lower energy prices.
  • FedEx sees 'modest' economic gains; 3Q profit up(AP) (2010-03-18 12:54:54)
    AP - FedEx is indicating the global economic recovery is gaining steam.
  • Current account deficit rises to $115.6B in 4Q(AP) (2010-03-18 12:51:21)
    AP - The current account trade deficit widened in the fourth quarter, reflecting an improving economy, but the imbalance for all of 2009 fell to the lowest point in eight years. Economists believe the deficit will increase in 2010 but not return to the record heights seen before the recession.
  • February consumer prices flat on lower energy costs(Reuters) (2010-03-18 12:48:52)
    Reuters - Consumer prices were unexpectedly unchanged in February as a drop in energy costs was offset by higher food and medical care costs, a government report showed on Thursday, backing up the Federal Reserve's commitment to ultra low interest rates.
  • First-time jobless claims drop slightly(AP) (2010-03-18 12:45:14)
    AP - The number of newly laid-off workers requesting jobless benefits fell slightly last week for the third straight time. But initial claims remain above levels that would signal net job gains.
  • U.S. current account deficit widens in fourth quarter(Reuters) (2010-03-18 12:41:17)
    Reuters - The U.S. current account deficit widened less than expected to $115.6 billion in the fourth quarter of 2009, largely driven by the swelling U.S. trade deficit, a Commerce Department report showed on Thursday.
  • Consumer prices were unchanged in February(AP) (2010-03-18 12:39:25)
    AP - Consumer prices were flat last month, as the weak economy limits the ability of companies to charge more for goods and services.
  • (AP) (2010-03-18 12:31:53)
    AP - Initial jobless claims drop to 457K but remain above levels that signal new hiring.
  • FedEx profit more than doubles, tops expectations(Reuters) (2010-03-18 12:16:41)
    Reuters - Package delivery giant FedEx Corp posted sharply higher quarterly profit, topping expectations, but its shares fell, giving back gains accrued in the days leading up to the earnings announcement.
  • UK public sector debt climbs above 60 pct of GDP(AP) (2010-03-18 10:48:15)
    AP - Public sector debt in the United Kingdom climbed above 60 percent of GDP in February as government agencies borrowed another 12.4 billion pounds ($19 billion), the Office for National Statistics said Thursday.
  • Greek PM warns over effect of high borrowing costs(Reuters) (2010-03-18 09:00:45)
    Reuters - Greece will not be able to carry out planned deficit cuts to resolve its debt problems if it has to continue borrowing money at high interest rates, Prime Minister George Papandreou said Thursday.
  • Japan corporate mood up; talk of government stimulus weighs(Reuters) (2010-03-18 08:48:57)
    Reuters - Japanese companies have become far less gloomy about economic conditions than three months ago, a Reuters corporate survey showed, pointing to a big improvement in the Bank of Japan's closely watched tankan survey next month.
  • Australia urges access to China trial of Rio staff(Reuters) (2010-03-18 08:21:55)
    Reuters - Australia urged China on Thursday to allow its diplomats full access to the trial of four Rio Tinto staff charged with commercial spying in a case that could hurt political and economic ties.
  • Bernanke defends Fed small bank supervision role(Reuters) (2010-03-17 23:55:27)
    Reuters - Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.
  • BofA CEO says the bank 'missed the mark'(AP) (2010-03-17 22:38:29)
    AP - Bank of America CEO Brian Moynihan conceded Wednesday that the company made a series of missteps during the credit crisis and recession that hurt its relationship with shareholders and customers.
  • Fed's Bernanke sees U.S. backing Fannie, Freddie debt(Reuters) (2010-03-17 22:07:33)
    Reuters - Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain U.S. government backing should Congress create a new system for financing U.S. homes, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.
  • U.S. hopes Obama trip will boost trade with Indonesia(Reuters) (2010-03-17 20:35:38)
    Reuters - The United States hopes President Barack Obama's visit next week to Indonesia will help spur reforms that boost trade with Southeast Asia's largest economy and the world's fourth most populous nation.
  • Producer prices fall on lower energy costs(Reuters) (2010-03-17 20:35:21)
    Reuters - U.S. producer prices in February posted their biggest fall in seven months as energy costs tumbled, validating the Federal Reserve's decision to hold interest rates very low on evidence of tame inflation.
  • Parsing the Fed's Statement: Experts Weigh In(The Motley Fool) (2010-03-17 20:12:40)
    The Motley Fool - Surprise, surprise. As expected, the Federal Reserve on Tuesday held short-term interest rates unchanged at historic lows and maintained that it will keep rates low for an extended period of time. The central bank also reiterated its pledge to stop buying mortgage-backed securities at the end of this month. However, the Fed did upgrade its assessment of the economy.
  • US hails debt cancellation for Afghanistan(AFP) (2010-03-17 20:08:03)
    AFP - The United States Wednesday welcomed a decision by Paris Club creditors to cancel Afghanistan's debt owed to members as "a crucial step" toward economic sustainability.
  • Summary Box: Fed boss wants to retain bank duties(AP) (2010-03-17 19:48:03)
    AP - MAKING THE CASE: Federal Reserve Chairman Ben Bernanke urged Congress to let the Fed keep all of its banking supervision. He argued that information gleaned from that process helps the Fed guide the economy.
  • Communications Systems posts lower 4Q profit(AP) (2010-03-17 18:50:34)
    AP - Broadband products and services company Communications Systems Inc. said late Tuesday that its fourth-quarter profit slid as revenue declined amid the recession.
  • Fed boss makes case to keep all banking duties(AP) (2010-03-17 18:34:00)
    AP - Federal Reserve Chairman Ben Bernanke urged Congress Wednesday to let the Fed keep all of its banking oversight, arguing that information gleaned from that process helps the central bank guide the economy.
  • US, Pakistan to host talks on economy, security next week(AFP) (2010-03-17 17:36:56)
    AFP - Secretary of State Hillary Clinton and her Pakistani counterpart will lead talks here next week aimed at boosting the economy and security of Pakistan, a key ally in the fight against extremism.
  • US eyes Indonesia trade surge but presses reform(AFP) (2010-03-17 17:02:56)
    AFP - The United States sees vast potential to expand trade with Indonesia but Jakarta needs to undertake economic reforms, a top official said Wednesday ahead of President Barack Obama's visit.
  • US, India ink deal to tap 'limitless' trade potential(AFP) (2010-03-17 16:54:58)
    AFP - The United States and India launched a new blitz to boost economic, trade and financial cooperation on Wednesday, the latest sign of deepening ties between the two economic giants.
  • New CFO says GM has chance to make 2010 profit(AP) (2010-03-17 16:32:05)
    AP - If the economy cooperates and auto sales recover a bit, General Motors Co. has a reasonable chance of turning a full-year profit in 2010, its new chief financial officer said Wednesday.
  • US Senate sends jobs bill to Obama(AFP) (2010-03-17 16:26:34)
    AFP - Amid deep election-year worries about high unemployment, the US Senate voted overwhelmingly Wednesday to send President Barack Obama a 17.6-billion-dollar package aimed at creating jobs.
  • Obama says U.S., Ireland see economic stabilization(Reuters) (2010-03-17 16:14:39)
    Reuters - President Barack Obama said on Wednesday that he and Irish Prime Minister Brian Cowen see signs of economic stabilization on both sides of the Atlantic but more work is needed for job creation.
  • Fannie Mae slashes mortgage investment forecast(Reuters) (2010-03-17 15:25:41)
    Reuters - Fannie Mae, the largest provider of U.S. residential funding, on Wednesday slashed its forecast for residential investment this quarter following a "setback" in home sales, and warned on its impact on the economic recovery.
  • Regulators to U.S. banks: tighten up on funding(Reuters) (2010-03-17 15:23:48)
    Reuters - The Federal Reserve and other banking regulators jointly reminded financial institutions on Wednesday about the importance of managing their liquidity to avoid a repeat of the financial crisis.
  • First of several job-creation bills clears Congress(Reuters) (2010-03-17 14:57:04)
    Reuters - A package of tax breaks and highway spending cleared the U.S. Congress on Wednesday, the first of what Democrats hope will be several efforts to bring down the 9.7 percent unemployment rate.
  • Fed boss to make case to keep all banking duties(AP) (2010-03-17 14:36:48)
    AP - Federal Reserve Chairman Ben Bernanke will make the case to Congress on Wednesday that the Fed should retain supervision of smaller banks.
  • Bernanke defends Fed's small bank supervision role(Reuters) (2010-03-17 13:55:55)
    Reuters - Federal Reserve Chairman Ben Bernanke on Wednesday fought back against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.
  • Fed defends watchdog role(AFP) (2010-03-17 13:19:59)
    AFP - Federal Reserve chairman Ben Bernanke will call for his central bank to keep broad regulatory powers when he faces lawmakers later Wednesday, amid a fierce debate over how to police Wall Street.
  • Producer prices post biggest drop in 7 months(Reuters) (2010-03-17 13:03:38)
    Reuters - Producer prices fell more steeply than expected in February as energy costs tumbled, supporting the Federal Reserve's resolve to hold interest rates exceptionally low for an extended period.
  • February wholesale prices drop 0.6 percent(AP) (2010-03-17 13:01:26)
    AP - Prices at the wholesale level plunged in February by the largest amount in seven months as a big drop in energy prices offset higher food costs.
  • Bernanke defends Fed role on smaller bank oversight(Reuters) (2010-03-17 12:21:45)
    Reuters - Federal Reserve Chairman Ben Bernanke on Wednesday defended the central bank's supervision of smaller banks, which it would lose in regulatory reform proposals, in a hearing before a congressional panel.
  • Dollar slips against euro(AFP) (2010-03-17 12:00:34)
    AFP - The dollar fell Wednesday against the euro after the US Federal Reserve said it would keep record-low interest rates for some time, and amid lingering hopes of help for crisis-hit Greece.
  • UK unemployment edges down in January quarter(AP) (2010-03-17 11:56:40)
    AP - Unemployment in Britain dropped to 7.8 percent in the three months through January from the previous quarter's 7.9 percent, the first such decline since May 2008 as the economy emerged from recession, official statistics showed Wednesday.
  • BOJ split vote raises doubts about future easing(Reuters) (2010-03-17 11:37:54)
    Reuters - The Bank of Japan loosened monetary policy on Wednesday in a split vote that suggested the central bank would struggle in the future to meet government demands for easier monetary conditions.
  • Iceland's central bank cuts rates despite Icesave worries(Reuters) (2010-03-17 11:34:10)
    Reuters - Iceland's central bank cut interest rates by 50 basis points on Wednesday to ease pressure on the stricken economy, despite uncertainty over international aid due to a row with Britain and the Netherlands.
  • European equities rally on upbeat Fed outlook(AFP) (2010-03-17 11:23:48)
    AFP - Europe's main stock markets rose Wednesday, after bumper gains earlier in Asia, as investors welcomed the US Federal Reserve's upbeat economic outlook, analysts said.
  • Ahead of the Bell: Producer Prices(AP) (2010-03-17 11:14:29)
    AP - Economists expect that wholesale prices fell in February, reflecting declines in both energy and food costs.
  • UK unemployment edges down in quarter to Jan(AP) (2010-03-17 10:34:39)
    AP - Unemployment in Britain dropped to 7.8 percent in the three months through January from the previous quarter's 7.9 percent, the first such decline since May 2008, official statisticians said Wednesday.
  • Iceland central bank cuts rates despite Icesave worries(Reuters) (2010-03-17 09:50:50)
    Reuters - Iceland's central bank cut interest rates by 50 basis points on Wednesday to ease pressure on the stricken economy, despite uncertainty over international aid due to a row with Britain and the Netherlands.
  • World Bank tells China to tighten policy(Reuters) (2010-03-17 05:44:43)
    Reuters - The World Bank raised its 2010 growth and inflation forecasts for China and recommended a tighter monetary policy as well as a stronger exchange rate to restrain inflation expectations and asset bubbles.
  • US Senate bill introduced to punish China on yuan(AFP) (2010-03-17 03:02:10)
    AFP - Facing election-year pressure over unemployment, US senators have introduced legislation that would impose tough new penalties on China if it failed to revalue its currency.
  • Fed maintains low rates, upgrades view on US economy(AFP) (2010-03-17 02:44:48)
    AFP - The Federal Reserve has maintained record low interest rates but offered a modest upgrade to its view of the US economy still dogged by high unemployment and tight credit.
  • Senators back bill to pressure China on currency(AP) (2010-03-17 01:41:03)
    AP - A group of 14 U.S. senators unveiled legislation Tuesday that seeks to increase pressure on China to let its currency to rise in value against the dollar, saying Chinese "currency manipulation" is hurting the U.S. economy.
  • Judge allows genetically engineered beet harvest(AP) (2010-03-17 00:38:17)
    AP - A federal judge on Tuesday said farmers can harvest their genetically engineered sugar beets this year, ruling the economic impact too great and that environmental groups waited too long to request that the crop be yanked from the ground and otherwise barred from the market.
  • Bernanke to wage fresh battle for Fed powers(AP) (2010-03-17 00:32:05)
    AP - Federal Reserve Chairman Ben Bernanke plans to wage a fresh battle against Senate efforts to scale back the Fed's role in supervising the nation's banks.
  • Data show surge in consumer cases in fiscal 2009(AP) (2010-03-17 00:09:27)
    AP - The number of new cases in federal courts related to consumer issues surged in the year ended last Sept. 30 as Americans battered by the recession fought foreclosures and downgraded debt ratings, data released Tuesday show.
  • Fed Maintains Vow To Keep Rates Low As Economy Rallies(Investor's Business Daily) (2010-03-16 22:55:00)
    Investor's Business Daily - The economy is strengthening and the job market is stabilizing, the Federal Reserve said Tuesday, but not enough for the central bank to consider raising interest rates soon.
  • Fed renews "extended period" low-rate vow(Reuters) (2010-03-16 22:31:16)
    Reuters - The Federal Reserve renewed its pledge on Tuesday to keep interest rates near zero for an "extended period" even as it sounded more upbeat about jobs.
  • Summary Box: Housing construction falls in Feb.(AP) (2010-03-16 22:06:51)
    AP - HOUSING STARTS: Construction of new homes and apartments fell 5.9 percent in February to a seasonally adjusted annual rate of 575,000 units.
  • Summary Box: Fed sticks with low-rate pledge(AP) (2010-03-16 21:18:38)
    AP - FEEDING THE RECOVERY: The Fed stuck with its yearlong pledge to hold rates at record lows for an "extended period" to foster the economic recovery.
  • Mo. jobless rate unchanged in Feb. at 9.4 percent(AP) (2010-03-16 21:12:10)
    AP - Unemployment in Missouri held steady last month at 9.4 percent as the state gained a net 2,300 jobs.
  • Dollar falls as the Fed keeps rates at record lows(AP) (2010-03-16 20:52:54)
    AP - The dollar dropped Tuesday as investors found comfort in the Federal Reserve's slightly upbeat assessment of the economy, while the central bank repeated its pledge to hold interest rates at record lows to help nurture the economic recovery.
  • Summary Box: Commodities gain on interest rates(AP) (2010-03-16 20:08:39)
    AP - PRICE GAINS: Prices for most commodities rose as the Federal Reserve left interest rates at record lows to boost economic growth. The key exception was natural gas, which settled lower.
  • Commodities rise after Fed leaves rates low(AP) (2010-03-16 20:08:31)
    AP - Metals, energy and grain prices rose Tuesday as the Federal Reserve left interest rates at record lows, which pushed down the dollar.
  • Fed maintains rates at record lows(AFP) (2010-03-16 19:53:45)
    AFP - The Federal Reserve on Tuesday maintained record low interest rates in the hope of stimulating a still fragile US economic recovery, dogged by high unemployment and tight credit.
  • Oil settles near $82 as Fed keeps rates low(AP) (2010-03-16 19:32:46)
    AP - Oil prices climbed back near $82 on Tuesday as the Federal Reserve said again that it will hold interest rates at record lows as the economy continues to recover.
  • Ford says new V-8 Mustang tops in fuel economy(AP) (2010-03-16 19:30:30)
    AP - Ford Motor Co. says the 2011 Mustang GT has something unexpected to brag about: Fuel economy.
  • Bad weather depresses housing starts in February(Reuters) (2010-03-16 19:17:08)
    Reuters - U.S. housing starts fell last month as winter storms disrupted construction, and another drop in building permits suggested the weakness would linger.
  • Data show surge in consumer cases(AP) (2010-03-16 19:16:10)
    AP - The number of new legal cases in federal courts related to consumer issues surged in the year ended last Sept. 30 amid the recession and tough economic straits, data released Tuesday show.
  • Fed holds rates at record lows to foster recovery(AP) (2010-03-16 19:05:32)
    AP - The Federal Reserve on Tuesday repeated its pledge to hold interest rates at record lows to foster the economic recovery and ease high unemployment.
  • Fed renews vow to keep rates low(Reuters) (2010-03-16 18:55:54)
  • A look at the Fed's January, March statements(AP) (2010-03-16 18:49:58)
    AP - A comparison of the Federal Reserve's statement on the economy and its policy positions from its last meeting on Jan. 26-27 and the meeting Tuesday.
  • A look at global economic developments(AP) (2010-03-16 18:48:53)
    AP - A look at economic developments and activity in major stock markets around the world Tuesday:
  • Fed holds near-zero rates, to keep them for 'extended period'(AFP) (2010-03-16 18:36:39)
    AFP - The Federal Reserve on Tuesday maintained its near zero benchmark interest rate, saying it expects to hold the "exceptionally low" rate "for an extended period."
  • Geithner warns US unemployment will remain high(AFP) (2010-03-16 17:05:21)
    AFP - US Treasury Secretary Timothy Geithner on Tuesday warned jobless Americans they face a torrid year ahead, predicting continued high unemployment levels despite advances "sometime this spring."
  • GE executive sees dividend increase in 2011(AP) (2010-03-16 16:44:48)
    AP - General Electric says it will increase its dividend in 2011, two years after the industrial and commercial conglomerate reduced it to save money as its financial arm struggled in the recession.
  • Oil rises near $82 ahead of Fed, OPEC meetings(AP) (2010-03-16 15:51:21)
    AP - Oil prices climbed back to near $82 on Tuesday as fresh housing data calmed investor concerns over the Federal Reserve's meeting on interest rates.
  • Winter storms hit housing starts(Reuters) (2010-03-16 13:59:26)
    Reuters - Housing starts fell last month as winter storms in some parts of the country disrupted home building, while a drop in import prices pointed to muted inflation pressures.
  • Dollar slips before Fed decision on interest rates(AP) (2010-03-16 13:33:32)
    AP - The dollar slipped Tuesday against key currencies before the Federal Reserve's expected mid-afternoon announcement on U.S. interest rates.
  • Housing construction drops 5.9 pct in February(AP) (2010-03-16 12:56:51)
    AP - Housing construction fell in February as winter blizzards held down activity in the Northeast and South. The decline highlighted the challenges facing builders as they struggle to emerge from the worst housing slump in decades.
  • US Fed expected to hold rates at record lows(AFP) (2010-03-16 12:51:48)
    AFP - US Federal Reserve policy makers held a meeting Tuesday widely expected to keep interest rates at record lows as financial markets look for signals of future monetary policy tightening.
  • Housing starts, permits fall in February(Reuters) (2010-03-16 12:46:30)
    Reuters - Housing starts and permits to build new homes both fell in February as winter storms in some parts of the country disrupted home building, a government report showed on Tuesday.
  • European equities climb before Fed decision(AFP) (2010-03-16 12:30:30)
    AFP - European stock markets advanced Tuesday after overnight gains on Wall Street, with investors awaiting the latest Federal Reserve monetary policy meeting and another crucial Brussels meeting on Greece.
  • Recession left "walking wounded" workers(Reuters) (2010-03-16 11:26:16)
    Reuters - Many workers around the world have given up hopes of advancing in their jobs, but the bad economy is keeping them from finding new ones.
  • German investor confidence drops again in March(AP) (2010-03-16 10:36:30)
    AP - German investor confidence slipped for the sixth month in a row in March as expectations settled for a slow recovery in the next half-year, a closely watched survey showed Tuesday.
  • Ahead of the Bell: Housing starts(AP) (2010-03-16 10:29:47)
    AP - Housing construction, which hit a six-month high in January, likely slipped in February, reflecting in part the major snowstorms that hit many parts of the country. The housing industry in good times is a major generator of jobs and economic growth.
  • Record number of Chinese unhappy over inflation(Reuters) (2010-03-16 05:55:57)
    Reuters - More than one in two Chinese savers regard the current inflation rate as unacceptable, according to a central bank survey on Tuesday that is likely to fan official concern about deteriorating inflation expectations.
  • Fed seen renewing low rates, extended period vow(Reuters) (2010-03-16 04:15:17)
  • Recession left "walking wounded" workers: study(Reuters) (2010-03-16 04:08:18)
    Reuters - Many workers around the world have given up hopes of advancing in their jobs, but the bad economy is keeping them from finding new ones.
  • Summary Box: Fed debates how to signal rate hikes(AP) (2010-03-16 04:07:57)
    AP - THE GREAT DEBATE: Likely to dominate the Fed's discussion at its meeting Tuesday: how and when to signal higher interest rates are on the way. The challenge: doing so in a way that doesn't confuse or jolt ordinary Americans and Wall Street investors.
  • Fed weighs how and when to signal higher rates(AP) (2010-03-16 04:04:35)
    AP - Debate is heating up within the Federal Reserve over how and when to signal that the days of record-low interest rates are numbered.
  • US Fed set to hold policy meeting on rates(AFP) (2010-03-16 03:06:12)
    AFP - The US Federal Reserve was widely expected to keep its key lending rate at virtually zero percent Tuesday as financial markets look for signals of future monetary policy tightening.
  • Fed saves some regulatory authority in Dodd plan(Reuters) (2010-03-15 23:43:10)
    Reuters - The Federal Reserve would retain some but not all of its oversight powers in the changed financial landscape envisioned by Senate Banking Committee Chairman Christopher Dodd in a plan unveiled on Monday.
  • Credit card data hints at U.S. consumer rebound(Reuters) (2010-03-15 22:49:42)
    Reuters - Credit card delinquency rates improved at JPMorgan Chase & Co and a majority of others -- a sign the lenders still face hurdles in the wake of the deep recession.
  • Summary Box: Copper prices fall on demand worries(AP) (2010-03-15 22:23:34)
    AP - COPPER DROPS: Copper prices fell as traders worried that China may take steps to curb economic growth, which could hurt demand for the metal used in construction and consumer products.
  • Sen Dodd boosts Fed in new financial reforms(Reuters) (2010-03-15 21:59:36)
    Reuters - The Federal Reserve would take on a greatly expanded role in financial regulation under new legislation unveiled on Monday by a top Senate Democrat, in a push to move ahead with the regulatory reform that has been a top priority of President Barack Obama.
  • Copper prices fall amid concerns over China(AP) (2010-03-15 21:54:26)
    AP - Prices for copper fell Monday amid speculation that China, a big importer of the industrial metal, will take steps to slow down its economy.
  • Summary Box: China trims US Treasury holdings(AP) (2010-03-15 21:52:03)
    AP - FOREIGN HOLDINGS: China trimmed its holdings of U.S. Treasury securities for a third month in January, reducing its position to $889 billion, a drop of $5.8 billion from December.
  • Moody's warning on US, UK ratings lifts dollar(AP) (2010-03-15 21:44:13)
    AP - The dollar got a lift Monday as the market turned cautious ahead of the Federal Reserve's meeting on interest rates, while a leading credit ratings agency warned that the U.S. and the U.K. could see a downgrade of their top AAA credit rating.
  • President would tap NY Fed chief under Dodd bill(Reuters) (2010-03-15 21:01:50)
    Reuters - The New York Federal Reserve Bank's president would become a political appointee and bank chiefs like JPMorgan Chase's Jamie Dimon could no longer sit on the board of their regulator under a proposal unveiled by the head of the Senate Banking Committee on Monday.
  • Pay czar limits exec pay at still-struggling GMAC(AP) (2010-03-15 20:19:46)
    AP - The Obama administration's pay czar is reducing 2010 compensation for top executives at GMAC Inc. because the auto finance giant continues to lose money and has no strategy for repaying its $16.3 billion taxpayer bailout, according to people familiar with the negotiations.
  • U.S. presses India on Doha trade talks(Reuters) (2010-03-15 19:39:58)
    Reuters - A top U.S. official on Monday urged India and other large emerging economies to rescue the eight-year-old Doha round of world trade talks by making better offers to open their markets to American goods.
  • Dodd boosts Fed in new financial reforms(Reuters) (2010-03-15 19:17:50)
    Reuters - The Federal Reserve would gain new powers over non-bank financial firms and keep much of its authority over banks under a new bill on financial regulatory reform unveiled on Monday by the chairman of the Senate Banking Committee, Christopher Dodd.
  • Dodd unveils bill that puts consumer agency at Fed(Reuters) (2010-03-15 18:27:31)
    Reuters - Senate Banking Committee Chairman Christopher Dodd on Monday unveiled a bill to revamp U.S. financial rules that would place a consumer protection agency within the Federal Reserve and give the central bank new powers over non-bank financial firms.
  • Dodd unveils sweeping financial regulation plan(AP) (2010-03-15 18:08:10)
    AP - A new Democratic Senate bill to tame the financial markets would give the government new powers to break up firms that threaten the economy and would force the industry to pay for its failures.
  • Snowstorms curb industrial output, rebound seen(Reuters) (2010-03-15 16:19:34)
    Reuters - Industrial production braked sharply in February, held back by severe winter storms that slammed parts of the country, while manufacturing activity in New York state stalled this month.
  • Industrial production rises 0.1 percent in Feb.(AP) (2010-03-15 15:24:03)
    AP - Industrial production edged up 0.1 percent in February, beating expectations and marking the eighth straight monthly increase. The manufacturing sector — for months a rare bright spot in the economy — produced less due to winter storms but is expected to rebound in March.
  • Industrial production rises 0.1 percent in Feb(AP) (2010-03-15 14:55:48)
    AP - Industrial production edged up 0.1 percent in February, beating expectations and marking the eighth straight monthly increase. But the key manufacturing sector — for months a rare bright spot — produced less, as heavy storms slowed the economic recovery.
  • China cuts back Treasury bond holdings amid tensions(AFP) (2010-03-15 14:47:35)
    AFP - China cut back its Treasury bond holdings to the lowest level in eight months the US Treasury said Monday, amid sharp allegations that Beijing is undervaluing its currency.
  • Snowstorms hold back industrial output in February(Reuters) (2010-03-15 14:18:23)
    Reuters - U.S. industrial production braked sharply in February, held back by severe winter storms that slammed parts of the country, while manufacturing activity in New York state stalled this month.
  • US industrial output stutters amid winter storms(AFP) (2010-03-15 13:42:35)
    AFP - US industrial production inched up 0.1 percent in February, grinding to a near-halt amid severe snow storms that crippled large parts of the East Coast, Federal Reserve data showed Monday.
  • China trims holdings of Treasury securities(AP) (2010-03-15 13:05:27)
    AP - China retained its spot as the biggest foreign holder of U.S. Treasury debt in January although it trimmed its holdings for a third straight month. The string of declines are likely to underscore worries that the U.S. government could face much higher interest rates to finance soaring budget deficits.
  • Senate financial reform bill boosts Fed: sources(Reuters) (2010-03-15 04:33:51)
  • Abu Dhabi SWF sees more global "uncertainty" in 2010(Reuters) (2010-03-14 23:51:36)
    Reuters - Abu Dhabi Investment Authority (ADIA), considered the world's largest sovereign wealth fund, said the global economy still faces "considerable uncertainty," in its first annual review aimed at enhancing transparency.
  • Fed gets new oversight powers under Dodd bill(Reuters) (2010-03-14 23:15:42)
    Reuters - The Federal Reserve would win sweeping new powers over nonbank financial firms and keep much of its authority over banks, under revised legislation to be unveiled on Monday by the chief architect of financial reform in the Senate.
  • Fed gets new oversight powers under Dodd bill: sources(Reuters) (2010-03-14 22:09:59)
    Reuters - The Federal Reserve would win sweeping new powers over nonbank financial firms and keep much of its authority over banks, under revised legislation to be unveiled on Monday by the chief architect of financial reform in the Senate.
  • Fed may hint at how long rates will stay at lows(AP) (2010-03-14 18:57:54)
    AP - Federal Reserve policymakers may signal at their meeting this week how and when the improving economy will lead them to start raising record-low interest rates.
  • Summary Box: How will the Fed signal higher rates?(AP) (2010-03-14 17:48:29)
    AP - SMOKE SIGNALS: Federal Reserve policymakers may signal at their meeting this week how and when the mending economy will lead them to start raising record-low interest rates.
  • China's Wen pushes back against yuan rise calls(Reuters) (2010-03-14 07:31:50)
    Reuters - Chinese Premier Wen Jiabao on Sunday spurned foreign calls for the yuan to rise and showed no let up in scolding the United States over recent bilateral tensions.
  • Fierce debate expected at Fed policy meeting(AFP) (2010-03-14 06:15:36)
    AFP - The US Federal Reserve's policy makers are expected to maintain benchmark interest rates at virtually zero percent at their meeting this week amid intense debate on how soon the central bank should tighten monetary policy.
  • China's Wen gives no ground on calls for yuan rise(Reuters) (2010-03-14 04:15:32)
    Reuters - Chinese Premier Wen Jiabao said on Sunday that external calls for yuan appreciation were unhelpful and even a form of trade protectionism, vowing that Beijing would stick to its own course for currency reform.
  • China's Wen says external pressure on yuan not helpful(Reuters) (2010-03-14 02:57:10)
    Reuters - Chinese Premier Wen Jiabao said on Sunday that external calls for yuan appreciation were unhelpful, vowing that Beijing would stick to its own course for currency reform while also warning of global economic risks.
  • France's Lagarde not expecting decision on Greece(Reuters) (2010-03-14 01:26:08)
    Reuters - French Economy Minister Christine Lagarde said on Saturday that she does not expect Euro zone finance ministers to make any decision on financial help for Greece when they meet next week.
  • France's Lagarde does not expect decision on Greece(Reuters) (2010-03-13 23:47:16)
    Reuters - French Economy Minister Christine Lagarde said on Saturday that she does not expect any decision to be made by Euro zone finance ministers next week on financial help for Greece.
  • Hearts may swoon when stocks do, study suggests(AP) (2010-03-13 14:53:48)
    AP - Stock market slides may hurt more than your savings. New research suggests they might prompt heart attacks.
  • Six imperatives for financial regulation: Summers(Reuters) (2010-03-13 06:32:23)
    Reuters - The United States should rethink domestic and global financial regulation, Lawrence Summers, director of the White House's National Economic Council, said on Friday, outlining six "imperatives."
  • Wall Street faces Fed meeting with momentum(AFP) (2010-03-13 03:06:56)
    AFP - Wall Street stocks are set to build on nearly year-and-a-half highs as they face next week's key economic reports and the US Federal Reserve's monetary policy meeting.
  • Obama eyes Fed picks in central bank revamp(AFP) (2010-03-13 02:48:47)
    AFP - US President Barack Obama is strongly considering three candidates to fill vacancies at the Federal Reserve board, the White House said as he moves to revamp the central bank.
  • Nortel sales decline as customers cut spending(Reuters) (2010-03-13 01:52:57)
    Reuters - Bankrupt Nortel Networks Corp on Friday posted a 62 percent drop in quarterly revenue, as customers cut spending in the face of uncertainty about its bankruptcy proceedings and the shaky economy.
  • Data, Fed to test if rally has legs(Reuters) (2010-03-13 00:46:13)
    Reuters - Investors will try to tack another leg on to the year-long U.S. stock rally, looking to next week's economic data and statement from the central bank for evidence the recovery is still on track.
  • Texas ed board vote reflects far-right influences(AP) (2010-03-13 00:20:10)
    AP - A far-right faction of the Texas State Board of Education succeeded Friday in injecting conservative ideals into social studies, history and economics lessons that will be taught to millions of students for the next decade.
  • Summary Box: Retail sales post surprising gain(AP) (2010-03-12 23:29:41)
    AP - RETAIL SALES: Retail sales rose 0.3 percent in February, surprising economists who had forecast a decline because of their expectation that major snowstorms would keep consumers away from stores.
  • US wine exports fall 15 percent in 2009(AP) (2010-03-12 22:59:41)
    AP - People worldwide are still buying U.S. wine in a tight economy, although exports were down in 2009 from 2008's record-setting year.
  • Union Pacific CEO seeing signs of better business(AP) (2010-03-12 22:58:28)
    AP - The CEO of Union Pacific said Friday that shipments carried by the nation's biggest railroad are stronger than expected this year, but are still a long way from full recovery.
  • Summary Box: Obama mulls choices for Fed vacancies(AP) (2010-03-12 22:24:17)
    AP - RESHAPING THE FED: President Barack Obama needs to fill three vacancies at the Federal Reserve. Janet Yellen, president of the Federal Reserve Bank of San Francisco, is his top pick to be vice chairman.
  • Yellen at Fed would likely favor low-rate policy(AP) (2010-03-12 22:17:43)
    AP - President Barack Obama's likely choice of Janet Yellen to become vice chairman of the Federal Reserve would favor a policy that stresses low interest rates to ease unemployment over higher rates to curb inflation.
  • Obama identifies three possible Fed picks(AFP) (2010-03-12 22:07:05)
    AFP - US President Barack Obama is giving "strong consideration" to naming three officials to fill vacancies at the Federal Reserve board, the White House said Friday as he moves to revamp the central bank.
  • Nucor CEO's pay package falls 43 percent(AP) (2010-03-12 21:31:11)
    AP - An Associated Press calculation finds that steel maker Nucor Corp. paid its CEO fell 43 percent last year as it eliminated cash bonuses for executives to help it weather the recession.
  • Retail sales show surprising gain in February(AP) (2010-03-12 21:30:48)
    AP - Retail sales posted a surprising increase in February as consumers refused to let snowstorms stop them from stepping up purchases for everything from clothes to appliances. The improvement provided hope that the recovery from the Great Recession is gaining momentum.
  • Adobe CEO 2009 pay package down 68 percent(AP) (2010-03-12 21:10:53)
    AP - Shantanu Narayen, the president and CEO of software maker Adobe Systems Inc., was awarded compensation valued at $5.2 million in fiscal 2009, a 68 percent decline in a year that saw the recession weaken demand for its products.
  • Yellen leads picks for Fed seat(Reuters) (2010-03-12 20:53:21)
    Reuters - San Francisco Federal Reserve Bank President Janet Yellen, a monetary policy dove, tops President Barack Obama's list to be No. 2 at U.S. central bank, the White House said on Friday.
  • Texas ed board adopts social studies standards(AP) (2010-03-12 20:37:16)
    AP - The Texas State Board of Education agreed to new social studies standards on Friday after the far-right faction wielded its power to shape the lessons that will be taught to millions of students on American history, the U.S. free enterprise system, religion and other topics.
  • US retail sales beat blizzards with surprise rise(AFP) (2010-03-12 20:09:21)
    AFP - The storied American consumer braved blizzards and economic headwinds to shop in February, unexpectedly pushing up retail sales for the second straight month, official data showed Friday.
  • Louisiana job outlook improves somewhat in January(AP) (2010-03-12 20:08:53)
    AP - Louisiana's job picture improved somewhat in January, despite the loss of retail jobs for the Christmas season and jobs temporarily held by students, the Louisiana Workforce Commission reported Friday.
  • Slow financial regulatory reform irks industry(Reuters) (2010-03-12 19:54:36)
    Reuters - The pace of financial regulatory reform remains slow even as the global economy struggles to recover from a crisis that many say was caused by inadequacies in the current system, attendees at an annual financial conference said this week.
  • Obama eyes dovish policymaker as Fed number two(AFP) (2010-03-12 19:46:04)
    AFP - US President Barack Obama is giving "strong consideration" to nominating San Francisco regional central bank chief Janet Yellen as Federal Reserve Board number two, the White House said Friday.
  • Young war veterans returning home to unemployment(AP) (2010-03-12 19:40:36)
    AP - The unemployment rate last year for young Iraq and Afghanistan veterans hit 21.1 percent, the Labor Department said Friday, reflecting a tough obstacle combat veterans face as they make the transition home from war.
  • Yellen called leading contender for Fed vice chair(Reuters) (2010-03-12 18:35:47)
    Reuters - San Francisco Federal Reserve Bank President Janet Yellen is a leading contender to be nominated by President Barack Obama as vice chair of the central bank, a senior administration official said on Friday.
  • Official: Obama wants Yellen as Fed vice chair(AP) (2010-03-12 18:14:02)
    AP - President Barack Obama wants to nominate Janet Yellen, the president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of the Federal Reserve, an administration official said Friday.
  • US retail sales rise unexpectedly despite blizzards(AFP) (2010-03-12 18:00:37)
    AFP - The storied American consumer braved blizzards and economic headwinds to shop in February, unexpectedly pushing up retail sales for the second straight month, official data showed Friday.
  • Feb. retail-sales report offers positive surprise(AP) (2010-03-12 17:03:11)
    AP - Retail sales posted a surprising increase in February as consumers did not let major snowstorms stop them from racking up purchases. The advance, the biggest since November, provided hope that the recovery from the Great Recession is gaining momentum.
  • Cheap cigars, politics and the Volcker Rule(Reuters) (2010-03-12 16:45:01)
    Reuters - In mid-January, a who's who of Wall Street gathered to hear Paul Volcker, the former Federal Reserve chairman whose role in the White House seemed at best unclear.
  • US retail sales rise despite blizzards(AFP) (2010-03-12 16:41:48)
    AFP - The storied American consumer braved blizzards and economic headwinds to shop in February, unexpectedly pushing up retail sales for the second straight month, official data showed Friday.
  • Obama eyes dovish policymaker as Fed number two: reports(AFP) (2010-03-12 15:54:51)
    AFP - US President Barack Obama plans to nominate San Francisco regional central bank chief Janet Yellen, a policy dove, as Federal Reserve Board number two, news reports said Friday.
  • Unemployment higher among young war veterans(AP) (2010-03-12 15:51:54)
    AP - The Labor Department says the unemployment rate for young Iraq and Afghanistan veterans was 21.1 percent last year.
  • New slide in US videogame sales(AFP) (2010-03-12 15:21:23)
    AFP - NPD Group on Thursday said US videogame sales slid 15 percent in February to 1.26 billion dollars, defying optimism that the industry would rebound on a reviving economy.
  • Business inventories flat in January(AP) (2010-03-12 15:03:33)
    AP - Business inventories were basically flat in January even though sales rose for an eighth consecutive month.
  • Consumer sentiment dipped in early March(Reuters) (2010-03-12 15:01:38)
    Reuters - U.S. consumer sentiment declined slightly in early March, with Americans less positive about the job outlook, a survey released on Friday showed.
  • Retail sales rise as shoppers fight winter blues(Reuters) (2010-03-12 14:49:03)
    Reuters - U.S. retail sales rose unexpectedly last month despite heavy snow storms and a drop in vehicle purchases by consumers spooked by Toyota recalls, bolstering hopes of a sustainable economic recovery.
  • UBS urges parliament to back U.S. tax deal: report(Reuters) (2010-03-12 14:43:18)
    Reuters - Switzerland's UBS has warned parliamentarians failure to back a deal to end its bitter U.S. tax row with the bank could result in a damaging backlash for Swiss banks as well as the Alpine nation's economy.
  • Retail sales rise unexpectedly in February(AP) (2010-03-12 14:34:48)
    AP - Retail sales posted a surprising increase in February as consumers did not let major snowstorms stop them from storming the malls. The advance, the biggest since November, provided hope that the recovery from the Great Recession is gaining momentum.
  • Canada's unemployment rate drops(AP) (2010-03-12 14:02:34)
    AP - Canada's unemployment rate has slipped to 8.2 percent as the economy gained 21,000 jobs.
  • AP Source: Obama wants Yellen as Fed vice chair(AP) (2010-03-12 12:19:25)
    AP - President Barack Obama intends to nominate Janet Yellen, the president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of the Federal Reserve, a person familiar with the selection said Friday.
  • Dollar mixed before US data(AFP) (2010-03-12 12:08:37)
    AFP - The dollar traded mixed on Friday before the publication of official US economic data, while the yen was also in focus after Japan's leader called for "firm steps" against the currency's recent rise.
  • European stock markets gain ground(AFP) (2010-03-12 11:58:28)
    AFP - Europe's main stock markets rose Friday as investors awaited crucial economic data and tracked US attempts to rein in the banking sector, dealers said.
  • Eurozone industrial productions soars in January(AP) (2010-03-12 10:26:47)
    AP - Industrial production in the 16 countries that use the euro spiked by an impressive 1.7 percent in January from the month before, official figures showed Friday, raising hopes that the recovery from recession may be more buoyant than expected.
  • Greek jobless rate eases but recession entrenched(Reuters) (2010-03-12 10:09:08)
    Reuters - Greece's gross domestic product shrank slightly less than feared at the end of 2009 and unemployment eased, but the economy looked set to deteriorate as the government imposes major cutbacks.
  • Obama to tap Yellen for Fed vice chair: source(Reuters) (2010-03-12 06:41:51)
    Reuters - President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen, a respected policy dove, to be vice chairman of the central bank, a source familiar with the process said on Thursday.
  • Report: Obama to tap Yellen to be Fed vice chair(AP) (2010-03-12 05:36:24)
    AP - President Barack Obama is planning to nominate Janet Yellen, president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of central bank in Washington, The Wall Street Journal reported.
  • U.S. "very close" to job growth: Summers(Reuters) (2010-03-12 02:37:32)
    Reuters - White House economic adviser Larry Summers said on Thursday that the United States is "very close" to the point where job growth can begin. (Reporting by Chris Baltimore; editing by Carol Bishopric)
  • Obama to tap Yellen for Fed vice chair:source(Reuters) (2010-03-12 02:27:55)
    Reuters - President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen to be vice chairman of the central bank, a source familiar with the process said on Thursday.
  • Source: Obama to tap Yellen for Fed vice chair(Reuters) (2010-03-12 02:27:55)
    Reuters - President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen to be vice chairman of the central bank, a source familiar with the process said on Thursday.
  • Regulators shut LibertyPointe Bank in NYC(AP) (2010-03-12 00:33:17)
    AP - Regulators have shut down LibertyPointe Bank in New York City, boosting to 27 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.
  • US criticizes China's domestic, economic policies(AP) (2010-03-12 00:02:33)
    AP - The Obama administration accused China on Thursday of abusing its citizens' rights and maintaining currency policies that cost millions of U.S. jobs, a double-barrel attack that comes amid a growing willingness to confront and even antagonize the Asian power.
  • Export growth likely to remain bright spot for US(AP) (2010-03-11 23:30:47)
    AP - U.S. exports dipped in January, the government said Thursday, but economists weren't fazed. They predict export growth will be a bright spot for American manufacturers through the rest of 2010.
  • Obama lobbied on black unemployment, immigration(Reuters) (2010-03-11 23:29:21)
    Reuters - President Barack Obama on Thursday faced pressure to help create jobs in African-American communities and deliver an immigration overhaul even as he tried to push healthcare reform across the finish line.
  • US household wealth jumps for first time since recession(AFP) (2010-03-11 23:24:03)
    AFP - American household wealth jumped in 2009 for the first time since a brutal recession struck the country, underscoring the impact of an economic recovery, data from the central bank showed Thursday.
  • States tap stimulus as more U.S. families seek aid(Reuters) (2010-03-11 22:42:59)
    Reuters - Many states have used funds from the $863 billion U.S. economic stimulus plan to help give a rising number of poor families emergency cash assistance, the Government Accountability Office said on Thursday.
  • Fed emergency loans decline in past week(AP) (2010-03-11 22:05:30)
    AP - Banks borrowed less from the Federal Reserve's emergency lending program over the past week, providing further evidence that the strains caused by the financial crisis are easing.
  • Senate plan on US finance reform to be unveiled(AFP) (2010-03-11 22:03:14)
    AFP - A key US senator said he would unveil new legislation on Monday aimed at giving American financial rules their biggest overhaul since the Great Depression in the wake of the 2008 meltdown.
  • AT&T CEO accepts bonus; pay rises to $20.2M(AP) (2010-03-11 21:56:45)
    AP - The frugality of the recession eased in the 2009 pay package for AT&T Inc. CEO Randall Stephenson, who resumed taking a bonus and saw his compensation rise by one-third to $20.2 million, according to Associated Press calculations on a regulatory filing Thursday.