Nov. 8, 2010 at 1:42 p.m.
Filed under:
Banking,
Economy,
Government,
Politics
By Dow Jones Newswires
Former Alaska Gov. Sarah Palin is deeply concerned about the Federal Reserve’s plan to buy $600 billion worth of U.S. bonds to boost the economy, placing the former vice presidential candidate in line with Germany in questioning U.S. monetary policy.
Palin is expected to demand that Federal Reserve Chairman Ben Bernanke “cease and desist” the stimulus injection, according to National Review Online, which said it obtained snippets of Palin’s prepared remarks scheduled for Monday before a trade association in Phoenix. Get the full story »
Nov. 8, 2010 at 1:13 p.m.
Filed under:
Banking,
Economy,
Small business
By Associated Press
The Federal Reserve says banks loosened lending standards for small businesses the last three months but demand for loans remains weak.
It marks the second time in nearly four years that banks have made loans easier for small businesses to obtain, according to the Fed’s new quarterly survey released Monday. Get the full story »
Nov. 8, 2010 at 11:41 a.m.
Filed under:
Economy,
International,
Jobs/employment
By Reuters
Unemployment in the Group of 20 leading world economies is close to 8 percent of the total workforce and looks set to keep growing strongly, the International Labour Organisation (ILO) said on Monday. Get the full story »
Nov. 5, 2010 at 5:36 p.m.
Filed under:
Economy,
Policy,
Politics
By Reuters
Government-controlled mortgage buyer Fannie Mae is asking for $2.5 billion in additional federal aid after posting a narrower loss in the third quarter.
Fannie Mae also said Friday it was likely that the market disarray and suspension of foreclosures due to big lenders’ problems with flawed documents will have a negative impact on the delinquency rates of its loans, its expenses and foreclosure timelines. However, the company said, “we cannot yet predict the extent of its impact.” Get the full story »
Nov. 5, 2010 at 3:22 p.m.
Filed under:
Banking,
Economy
By Reuters
Federal Reserve Chairman Ben Bernanke on Friday defended the U.S. central bank’s bond-buying against beggar-thy-neighbor criticism, saying it was “critical” for global stability that the U.S. economy regain its strength.
Doing so, he suggested, would bolster a dollar whose weakness has sparked cries of foul from Bogota to Beijing.
The U.S. central bank’s decision to buy $600 billion of government debt has drawn scathing comments from a host of nations who contend it is generating global instability by ramping up their currencies against the dollar, inflating asset bubbles and stoking inflation in their economies. Get the full story »
Nov. 5, 2010 at 1:09 p.m.
Filed under:
Economy,
Housing,
Real estate
By Associated Press
The number of people who signed contracts to buy homes fell in September after two months of gains, a possible fallout from foreclosure moratoriums that have disrupted activity in the housing market.
The National Association of Realtors said Friday that its index of sales agreements for previously occupied homes dropped 1.8 percent in September, to 80.9. Contract signings fell in every region except the West. Get the full story »
Nov. 5, 2010 at 12:49 p.m.
Filed under:
Economy,
Government
By Reuters
The Federal Reserve’s latest move to help the U.S. economy recover could punish pensioners and other long-term savers at the expense of helping large borrowers such as major corporations.
There’s also scant evidence to suggest that the move will help reduce unemployment, since U.S. companies are benefiting from record-low borrowing rates while the jobless rate remains stuck near 10 percent. Get the full story »
Nov. 5, 2010 at 8:22 a.m.
Filed under:
Economy,
Government,
Jobs/employment,
Layoffs
By Tribune newspapers
The nation’s sluggish job market showed signs of life in October: Employers added a net 151,000 jobs over the month, and private-sector job creation was the strongest since April, the Labor Department said Friday.
However, the better-than-expected job gains weren’t large enough to bring down the unemployment rate, which remained stuck at 9.6 percent for the third month in a row. A broader measure of unemployment and underemployment, which includes part-time workers who can’t find full-time jobs, dropped a notch to 17 percent last month. Get the full story »
Nov. 5, 2010 at 6:48 a.m.
Filed under:
Economy,
Jobs/employment
By Associated Press
President Barack Obama is acknowledging in the wake of this week’s election rout that he hasn’t been able to successfully promote his economic-rescue message to anxious Americans. Obama says in an interview with CBS’s “60 Minutes” that he “stopped paying attention” to the leadership style he displayed during his run for the presidency.
Obama also said he recognizes now that “leadership is not just legislation,” and that “it’s a matter of persuading people. And giving them confidence and bringing them together. And setting a tone. And making an argument that people can understand.” Get the full story »
Nov. 4, 2010 at 12:41 p.m.
Filed under:
Economy,
Energy,
Government
By Associated Press
There’s one place holiday shoppers probably won’t find a bargain this year: At the gas pump.
There is plenty of oil and gasoline on hand, and pump prices usually fall this time of year. So what’s causing the run-up? Most analysts point to the Federal Reserve’s $600 billion economic stimulus effort. Get the full story »
Nov. 4, 2010 at 7:52 a.m.
Filed under:
Economy,
Jobs/employment,
Layoffs
By Associated Press
The number of people seeking jobless benefits jumped sharply last week, after two straight weeks of declines. The Labor Department said Thursday that initial claims for unemployment aid rose by 20,000 to a seasonally adjusted 457,000 for the week ending Oct. 30. Wall Street analysts polled by Thomson Reuters had expected a smaller rise.
Nov. 4, 2010 at 7:37 a.m.
Filed under:
Economy,
Jobs/employment
By Associated Press
The Labor Department says productivity grew at an annual rate of 1.9 percent in the third quarter, a rebound from a decline of 1.8 percent in the second quarter. That was the biggest drop in nearly four years. Labor costs fell at a 0.1 percent rate in the third quarter after having risen 1.3 percent in the second quarter.
Nov. 4, 2010 at 7:25 a.m.
Filed under:
Economy,
Retail
By Associated Press
Retailers are reporting solid revenue gains for October. But it took heavy discounting on coats and other cold-weather items to get shoppers to spend amid unusually warm temperatures.
Analysts are concerned about the holiday shopping season as shoppers, grappling with job worries, are likely to wait until the last minute to get the best deals.
Nov. 3, 2010 at 4:14 p.m.
Filed under:
Earnings,
Economy,
Food,
Retail
By Associated Press
A Whole Foods in Santa Rosa, Ca. (John Burgess/Tribune)
Whole Foods Market Inc. more than doubled its fourth-quarter net income as sales rose, prompting the grocer to raise its full-year outlook on Wednesday.
The news sent natural and organic grocer’s shares soaring in after-hours trading.
Whole Foods, based in Austin, Texas, reported that its net income available to common shareholders rose to $57.5 million, or 33 cents per share, for the quarter that ended Sept. 26. That’s up from $28.7 million, or 20 cents per share, in the same period last year.
Nov. 3, 2010 at 2:57 p.m.
Filed under:
Economy
By Associated Press
Gold slipped Wednesday as many investors sold holdings for a profit ahead of the Federal Reserve’s decision to buy hundreds of billions more in Treasury bonds to revitalize the economy. Get the full story »
