Dec. 14, 2010 at 11:39 a.m.
Filed under:
Economy,
Exchanges,
Stock activity
By Dow Jones Newswires
U.S. stocks rose Tuesday, lifting the Dow Jones Industrial Average to its highest intraday level in more than two years, as data showing growth in U.S. retail sales and business sales boosted investors’ outlook on the economy.
The Dow rose 71 points, or 0.6 percent, to 11,499. Earlier, the measure hit 11499.70, its highest intraday level since September 2008. Its top performers spanned a variety of sectors, with Boeing up 1.4 percent, Kraft Foods up 1.3 percent and Johnson & Johnson up 1.2 percent. Get the full story »
Dec. 14, 2010 at 10:24 a.m.
Filed under:
Beverages,
Economy
By Dow Jones Newswires
U.K.-based Diageo PLC, the world’s largest spirits company by volume, said Tuesday it is seeing signs of a recovery in demand in the U.S., though the consumer environment in the country remains unsettled.
“The fiscal 2011 situation remains unsettled, but we see signs of recovery. There is still high unemployment and low consumer confidence, but there are emerging, positive signs of life in fall retail sales. We are encouraged (by that),” Ivan Menezes, Diageo’s president of North America and chairman of the Asia-Pacific region, said on a call with investors. Get the full story »
Dec. 14, 2010 at 8:18 a.m.
Filed under:
Economy,
Jobs/employment
By Associated Press
Top corporate executives expect to hire more workers and spend more on their companies over the next six months.
A survey from Business Roundtable, an association of CEOs of big U.S. companies, shows 45 percent of executives say they expect their companies to add more workers. That’s the highest percentage who have said they planned to add jobs since the survey began in late 2002. Get the full story »
Dec. 13, 2010 at 9:38 a.m.
Filed under:
Economy
By Reuters
Outgoing White House economic adviser Larry Summers said Monday that it was crucial to ensure that the economic recovery is as rapid as possible.
In a speech to the Economic Policy Institute think tank, Summers also said lack of demand was a main constraint facing the economy and that government must help counteract that.
Dec. 10, 2010 at 11:42 a.m.
Filed under:
Economy
By Associated Press
The Treasury Department has brought in $35 billion in revenue over two years, boosted by ongoing sales of Citigroup stock, new data show. But the Congressional Budget Office projects taxpayers will still lose $25 billion for bailing out the financial sector and U.S. automakers.
Dec. 10, 2010 at 10:25 a.m.
Filed under:
Economy,
Government,
International,
Trade,
Updated
By Reuters
The U.S. trade deficit narrowed much more than expected in October, as exports rose a robust 3.2 percent and imports declined slightly in the face of slackening demand for industrial and petroleum products, a Commerce Department report showed on Friday. Get the full story »
Dec. 10, 2010 at 9:42 a.m.
Filed under:
Banking,
Economy,
Insurance,
Investing
By Reuters
Bailed-out insurer American International Group took another step in its restructuring this week, but it is only noticeable to those looking closely: it put the company’s logo back on employee identification cards. Get the full story »
Dec. 9, 2010 at 3:45 p.m.
Filed under:
Banking,
Economy,
International,
Policy,
Politics
By Reuters
Foreign central banks’ overall holdings of marketable securities at the Federal Reserve fell in the latest week, data from the U.S. central bank showed on Thursday. Get the full story »
Dec. 9, 2010 at 11:08 a.m.
Filed under:
Economy
By Reuters
U.S. household wealth rose by $1.2 trillion in the third quarter and household debt contracted at a slower rate than previously, according to Federal Reserve data on Thursday that showed slow repair to household finances in a weak recovery. Get the full story »
Dec. 9, 2010 at 11:06 a.m.
Filed under:
Economy,
Policy,
Politics
By Reuters
Democrats in the U.S. House of Representatives are considering a counterproposal to the one drafted by President Barack Obama and Republicans to extend all Bush-era tax cuts, Democratic Representative Adam Schiff said on Thursday. Get the full story »
Dec. 9, 2010 at 10:11 a.m.
Filed under:
Economy,
Policy,
Politics
By Reuters
The co-chairs of the U.S. deficit commission urged President Barack Obama Thursday to launch negotiations with Congress early next year on a serious fiscal responsibility plan.
Co-Chairs Erskine Bowles and Alan Simpson said they believed a bipartisan agreement aimed at reducing America’s massive debt should be reached before any long-term increase in the U.S. debt limit is approved. Get the full story »
Dec. 9, 2010 at 9:13 a.m.
Filed under:
Banking,
Economy,
Jobs/employment
By Gail MarksJarvis
Here’s some modestly encouraging news for job seekers: About 47 percent of companies with sales in the $25 million to $2 billion range, plan to hire employees in 2011, according to a national survey of chief financial officers (CFOs) by Bank of America.
Dec. 9, 2010 at 7:37 a.m.
Filed under:
Economy,
Jobs/employment,
Layoffs
By Reuters
New U.S. claims for unemployment benefits fell more than expected last week and the four-week moving average hovered at two-year lows, according to a government report on Thursday that revived hopes a labor market recovery was under way.
Initial claims for state unemployment benefits dropped 17,000 to a seasonally adjusted 421,000, the Labor Department said. Get the full story »
Dec. 8, 2010 at 5:02 p.m.
Filed under:
Credit Cards,
Economy,
Housing,
Mortgages
By Associated Press
Consumers are expected to get better control on their mortgage and credit-card payments next year as the economy slowly improves.
Chicago-based credit reporting firm TransUnion predicts that delinquencies, or late payments, on the two biggest major forms of borrowing will drop sharply again in 2011, after substantial declines seen in the second half of this year. Get the full story »
Dec. 8, 2010 at 4:11 p.m.
Filed under:
Economy,
Jobs/employment
By Becky Yerak
Illinois residents are less likely to live paycheck to paycheck than the national average, although citizens of New York, New Jersey and New Hampshire are considered the most financially capable in the nation.
The three eastern states ranked in the top five in at least five measures of financial capability, according to a new survey of 28,146 respondents, or about 500 per state plus Washington, D.C. Get the full story »
