Economy

  • Electricity explains why some have gas, some don't
    381dc014ff03db1e1f0f6a706700e5dd 2012-11-04 17:14:07 UTC
    NEW YORK (AP) — It's a question that's rankled and bewildered many in the Northeast: Why do some areas struck by Superstorm Sandy have plenty of gasoline and others still don't? It turns out we need electricity to drive. Even if we're driving c...
  • Northeast travel slowly resumes
    Sandy-grounds-northeast-air-travel 2012-10-31 18:37:18 UTC
    Travelers stranded by Hurricane Sandy are seeing service slowly restored across the Northeast. But it'll be days before things are close to normal. The busy Northeast travel corridor ground to a halt when the huge storm slammed into New Jersey ...
  • Airports and stock exchange reopen; NJ devastated
    Diaalnews 2012-10-31 17:44:41 UTC
    NEW YORK (AP) — Two major airports reopened and the floor of the New York Stock Exchange came back to life Wednesday, while across the river in New Jersey, National Guardsmen rushed to rescue flood victims and fires still raged two days after Supe...
  • US home prices rise in August at faster pace
    House 2012-10-30 14:12:39 UTC
    WASHINGTON (AP) — Home prices rose in August in nearly all U.S. cities, and many of the markets hit hardest during the crisis are starting to show sustained gains. The increases are the latest evidence of a steady housing recovery. The Standard...
  • Wall Street still dark, exchanges test systems
    Diaalnews 2012-10-30 13:53:55 UTC
    NEW YORK (AP) — With large portions of lower Manhattan still dark early Tuesday, U.S. stock exchanges said they were testing contingency plans to ensure trading resumes as soon as possible this week after Hurricane Sandy smashed into the East Coas...
  • Weak business spending drags on US growth
    43614d9f1685001e1f0f6a706700d59e 2012-10-25 20:56:47 UTC
    WASHINGTON (AP) — Companies are holding off on purchases of computers, industrial equipment and other long-lasting manufactured goods, a trend that's slowing the U.S. economy. A fourth straight month of lackluster corporate spending led many ec...
  • Ex-Goldman executive awaits sentence from NY court
    Diaalnews 2012-10-24 06:36:06 UTC
    NEW YORK (AP) — A former Goldman Sachs and Procter & Gamble Co. board member convicted of insider trading is about to learn whether prison or community service is his fate. Rajat Gupta faces sentencing Wednesday for his role in an insider tradi...
  • Oil price rises on Chinese manufacturing survey
    11031058-large 2012-10-24 05:57:53 UTC
    BANGKOK (AP) — The price of oil rose Wednesday after a survey of Chinese manufacturing suggested that a slowdown in the world's second-largest economy might be stabilizing. Benchmark oil for December delivery was up 79 cents to $87.46 per barre...
  • US may soon become world's top oil producer
    Diaalnews 2012-10-24 03:27:47 UTC
    NEW YORK (AP) — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer. Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons i...
  • Retirement worries grow; 30-somethings most uneasy
    Diaalnews 2012-10-23 07:52:57 UTC
    WASHINGTON (AP) — Younger Americans in their late 30s are now the group most likely to doubt they will be financially secure after retirement, a major shift from three years ago when baby boomers nearing retirement age expressed the greatest worry...
  • Oil falls below $90; pump prices continue to drop
    Oilbarrels 2012-10-22 16:23:56 UTC
    The price of oil is falling Monday, tracking the small declines in U.S. stocks. Benchmark oil fell 60 cents to $89.45 a barrel in midday trading in New York. The contract fell $2.05 to end at $90.05 per barrel on Friday. U.S. drivers...
  • Why Greg Smith left Goldman Sachs
    Diaalnews 2012-10-22 15:31:53 UTC
    Greg Smith wrote the essay that echoed across Wall Street like a thunderclap. Smith was a vice president at Goldman Sachs until March. He announced his departure from the investment bank with a blistering Op-Ed in The New York Times, ac...
  • APNewsBreak: Questions for Medicare in outbreak
    265176447c42711d1e0f6a706700a4dc 2012-10-19 21:02:04 UTC
    WASHINGTON (AP) — Medicare is coming under scrutiny in the meningitis outbreak that has rekindled doubts about the safety of the nation's drug supply. The giant health insurance program for seniors long ago flagged compounded drugs produc...
  • Jobless rate falls in most battleground states
    A38f02b3a8daf418190f6a706700c501 2012-10-19 20:39:47 UTC
    CLEVELAND (AP) — Unemployment rates fell last month in nearly all of the battleground states that will determine the presidential winner, giving President Barack Obama fresh fodder to argue that voters should stick with him in an election focused ...
  • Gasoline prices _ finally _ begin to slide
    Arco 2012-10-18 20:21:17 UTC
    NEW YORK (AP) — Gasoline prices have finally begun their seasonal slide. Better late than never. The national average retail price has fallen for ten straight days and is now $3.74 per gallon. That's 13 cents below the fall peak of $3.87...
  • Surge in US home construction could lift economy
    7d0228d147cc3c1d1e0f6a706700dfbc 2012-10-18 08:17:11 UTC
    U.S. home construction is making a comeback that could invigorate the economy's still-weak recovery. Builders last month started construction on single-family houses and apartments at the fastest rate in more than four years, the Commerce Depar...
  • Tame US prices, more confident builders aid growth
    F11baf9c2e32251d1e0f6a7067007c65 2012-10-17 00:59:24 UTC
    WASHINGTON (AP) — The outlook for the U.S. economy brightened a little Tuesday after reports that consumer prices stayed tame and homebuilder confidence rose to the highest level in six years. A third report showed factory output grew only mode...
  • In a surprise, Pandit steps down as Citigroup CEO
    8a7da69a2f10291d1e0f6a706700d2f8 2012-10-17 00:56:10 UTC
    Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director. The move shocked Wall Street, and Citigroup offered no explana...
  • Expect small '13 Social Security benefit increase
    D9f56651fa6af41c1d0f6a7067004577 2012-10-15 10:37:36 UTC
    WASHINGTON (AP) — Social Security recipients shouldn't expect a big increase in monthly benefits come January. Preliminary figures show the annual benefit boost will be between 1 percent and 2 percent, which would be among the lowest since auto...
  • Dems in coal states diverge on Obama policies
    4eac8390c7d6c81c1d0f6a706700d099 2012-10-13 04:25:18 UTC
    ST. CLAIRSVILLE, Ohio (AP) — Friends of coal are certain they know the enemy. They fault President Barack Obama and his Environmental Protection Agency for new clean air rules they deride as a devastating blow to a multibillion-dollar industry ...
  • FDA regulation of pharmacies has knotty history
    Diaalnews 2012-10-13 04:24:59 UTC
    WASHINGTON (AP) — The deadly meningitis outbreak linked to contaminated pain injections has prompted calls for tighter federal regulation of compounding pharmacies, which have periodically been blamed for crippling and sometimes fatal injuries. Bu...
  • Calif. gas prices equal all-time high
    E1589cc31502271c1d0f6a706700d06b 2012-10-06 10:40:06 UTC
    LOS ANGELES (AP) — The price of gasoline has equaled the all-time high in California of $4.61 a gallon. AAA's Daily Fuel Gauge report released early Saturday says the average price for a gallon of regular unleaded across California rose 12 cent...
  • Officials reject conspiracies on unemployment rate
    Diaalnews 2012-10-06 10:33:53 UTC
    WASHINGTON (AP) — When conspiracists suggested Friday that the Obama administration had engineered a sharp drop in unemployment to aid President Barack Obama's re-election, the response was swift. Career government officials, economists and e...
  • US unemployment below 8 pct, first time since 2009
    A2a66c491191171c1d0f6a706700c014 2012-10-06 10:27:27 UTC
    WASHINGTON (AP) — The U.S. unemployment rate dropped below 8 percent for the first time since the month President Barack Obama took office, a surprising lift for both the economy and his re-election hopes in the final weeks of the campaign. The...
  • Analysts: Spike in Calif. gas prices may linger
    71254c9bfae90d1b1d0f6a7067005aed 2012-10-05 08:38:34 UTC
    SAN FRANCISCO (AP) — The recent spike in gasoline prices around the nation is expected to wane slowly in coming weeks, but California may not be so lucky due to supply challenges fueled by refinery issues and pipeline outages, analysts said. Th...