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Federal Reserve officials in December felt the U.S. economic recovery was still weak enough to warrant monetary support despite growing signs of strength, Fed meeting minutes released on Tuesday showed.
Wall Street economists have been revising up forecasts for economic growth in recent weeks on the back of signs showing business activity and consumer spending picking up steam. Get the full story »
New orders received by factories unexpectedly rose in November, and orders excluding transportation recorded their largest gain in eight months, providing more signs the economic recovery was on sustainable path. Get the full story »
From Bloomberg TV | The executive director of the Illinois State Board of Investments, which manages about one-fifth of Illinois’ pension funds, told Bloomberg TV on Monday that Illinois will have to figure out how to fund pensions in 2012, and also discussed the possibility that Illinois lawmakers may approve a plan to sell $3.7 billion of bonds to fund the state’s pension contributions.
Discount-store operator Dollar General Corp. said Monday it plans to open 625 new stores and hire more than 6,000 workers in 2011.
The economy in nine U.S. Midwest and South-Central states will likely grow at a healthy pace, albeit with rising inflation, according to a survey of supply managers released on Monday. Get the full story »
Power company Exelon Corp. forecast a 5 cent and 3 cent reduction for its 2010 and 2011 earnings respectively, hit by the combined effect of pension contributions and the recently passed tax legislation.
The Chicago-based company said the direct impacts of the tax legislation will reduce its 2010 earnings by about 1 cent per share and 2011 earnings by about 11 cents per share because of a cut in the manufacturing tax deduction for which it was eligible. Get the full story »
The U.S. manufacturing sector grew for a 17th straight month in December, adding to recent evidence that a recovery in the U.S. economy was picking up steam, according to an industry report released on Monday. Get the full story »
Business activity in the U.S. Midwest rose unexpectedly in December, with help from a gain in employment and new orders, a report showed Thursday. The Institute for Supply Management-Chicago business barometer jumped to 68.6 in December from 62.5 in November. Get the full story »
New U.S. claims for unemployment benefits dropped more than expected last week to touch their lowest level in more than two years, suggesting the labor market recovery was gaining strength. Get the full story »
Six banks have repurchased investments the government made under its taxpayer-funded financial rescue program, paying a total of $626 million including dividends, the Treasury Department said Wednesday. Get the full story »
More firms said they plan to hire full-time, permanent workers in 2011 than did this year, but wage growth likely will remain modest, according to data released Wednesday by job site CareerBuilder.com.
Almost one-quarter of employers — 24 percent — said they plan to hire full-time, permanent workers in 2011. That compares with 20 percent this year, and 14 percent in 2009, according to CareerBuilder.com’s survey in late November of more than 2,400 hiring managers and human-resource professionals. Get the full story »
Treasury prices dropped Tuesday after results of the government’s $35 billion auction of long-term bonds disappointed traders.
The price of the 10-year Treasury note lost $1 per $100 invested in afternoon trading. Its yield, which moves in the opposite direction, rose to 3.46 percent from 3.34 percent late Monday. Get the full story »
Corporate profits are up. Stock prices are up. So why isn’t anyone hiring?
Many American companies are — overseas, where sales are surging and the pipeline of orders is fat. Get the full story »
U.S. consumer confidence unexpectedly deteriorated in December, while prices of U.S. single-family homes fell almost double the expected pace in October, tempering growing optimism on the economy’s recovery. Get the full story »
The Federal Reserve is scheduled on Tuesday to buy Treasurys targeting maturities between June 30, 2013, and Nov. 30, 2014. Get the full story »
