Economists say US needs more taxes, spending cuts
2012-09-24 13:45:07 UTC
NEW YORK (AP) — The best way to reduce the federal deficit is through a combination of higher taxes and spending cuts, according to a group of economists.
The 236 members of the National Association for Business Economics recently surveyed sa...
Report: US banks subject of money-laundering probe
2012-09-16 13:24:43 UTC
NEW YORK (AP) — Regulators are investigating whether several major U.S. banks failed to monitor transactions properly, allowing criminals to launder money, according to a New York Times story. The newspaper cited officials who it said spoke on the...
Fed to spend $40B a month on bond purchases
2012-09-13 19:17:02 UTC
WASHINGTON (AP) — The Federal Reserve unleashed a series of bold and open-ended steps Thursday to stimulate the economy by making it cheaper for consumers and businesses to borrow and spend.
The Fed said it will spend $40 billion a month to buy...
As Fed ends meeting, many expect bold action
2012-09-13 04:20:08 UTC
WASHINGTON (AP) — The Federal Reserve ends a two-day meeting Thursday with expectations high for some new action to jolt the lackluster U.S. economy.
Many investors hope the Fed will take the bold step of launching a third bond-buying program. ...
Unemployment rate dips
2012-09-07 21:33:05 UTC
WASHINGTON (AP) — U.S. employers added 96,000 jobs in August, a tepid figure that points to the economy's persistent weakness and slowing prospects for the unemployed.
The unemployment rate fell to 8.1 percent from 8.3 percent in July. But that...
US jobs outlook improves as campaign heats up
2012-09-06 22:07:50 UTC
WASHINGTON (AP) — The jobs outlook in the U.S. brightened a bit Thursday just before President Barack Obama was to make his case for re-election to the American people.
Fewer people applied for unemployment benefits last week, the government re...
US productivity grew at 2.2 pct. rate in spring
2012-09-05 17:50:32 UTC
WASHINGTON (AP) — U.S. companies got more output from their workers this spring than initially thought. Productivity rose at a modest 2.2 percent annual rate in the April-June quarter, largely because employers cut back sharply on hiring.
Survey: US manufacturing shrinks for third month
2012-09-04 20:28:35 UTC
WASHINGTON (AP) — U.S. factory activity shrank for the third straight month in August as new orders, production and employment all fell. The report adds to other signs that manufacturing is struggling around the globe.
The Institute for Supply ...
Bernanke: With unemployment high, Fed can do more
2012-08-31 18:18:14 UTC
JACKSON HOLE, Wyo. (AP) — Chairman Ben Bernanke made clear Friday that the Federal Reserve will do more to boost the economy because of high U.S. unemployment and an economic recovery that remains "far from satisfactory."
He also argued that th...
Romney-Ryan Medicare Plan Would Cost 29-Year-Olds $331,200: Report
2012-08-30 05:43:20 UTC
If Mitt Romney and Paul Ryan have their way, then Americans of all ages may be spending more on health care during their retirement.
If Romney becomes president and repeals the Affordable Care Act as promised, then retirement would cost $11,100...
Fed survey finds moderate US growth during summer
2012-08-29 20:33:49 UTC
WASHINGTON (AP) — The U.S. economy grew moderately in July and early August, and hiring was more robust than in the previous six-week period, the Federal Reserve said Wednesday.
The Fed report on business conditions said nine of its 12 district...
Contracts to buy US homes hits 2-year high in July
2012-08-29 16:52:29 UTC
WASHINGTON (AP) — Americans signed the most contracts to buy homes in July than at any other point in the last two years, further evidence of a housing recovery.
The National Association of Realtors said Wednesday that its index of sales agreem...
US economy grew at 1.7 percent rate in 2nd quarter
2012-08-29 16:35:57 UTC
WASHINGTON (AP) — The U.S. economy grew at a tepid 1.7 percent annual rate in the April-June quarter, suggesting growth will stay weak in the second half of the year.
Slightly stronger consumer spending and greater exports were the main reasons...
Circumcision pluses outweigh risks: Pediatricians
2012-08-27 06:30:31 UTC
CHICAGO (AP) — The nation's most influential pediatricians group says the health benefits of circumcision in newborn boys outweigh any risks and insurance companies should pay for it.
In its latest policy statement on circumcision, a procedure ...
Drop in key US durable goods orders shows weakness
2012-08-24 14:57:32 UTC
WASHINGTON (AP) — Signs that U.S. manufacturing is faltering emerged from a report Friday that orders for long-lasting factory goods, excluding the volatile transportation category, fell in July for the fourth time in five months.
Fed's discussion hints it may take new action soon
2012-08-23 02:32:14 UTC
WASHINGTON (AP) — Federal Reserve officials signaled Wednesday that they may be ready to launch a new bond buying program when they next meet in September.
The goal would be to try to lower long-term interest rates to encourage more borrowing...
Obama extends federal pay freeze
2012-08-22 06:39:42 UTC
WASHINGTON (AP) — President Barack Obama told congressional leaders Tuesday that he is extending a two-year pay freeze for federal employees until at least next spring.
The freeze will stay in effect during a short-term deal to fund the gover...
American Airlines' flight attendants OK contract
2012-08-20 05:20:54 UTC
DALLAS (AP) — Flight attendants at American Airlines voted to approve a new contract offer from the airline, which is seeking to cut costs in bankruptcy protection.
The results released Sunday showed attendants voted to accept the contract by 5...
Medicare costs too much, but how to rein it in?
2012-08-17 05:03:32 UTC
WASHINGTON (AP) — President Barack Obama and Republican rival Mitt Romney agree there has to be a limit to how much seniors pay for Medicare, but they're worlds apart on how to make that happen.
You wouldn't know it from the accusations they hu...
Higher gas prices expected after refinery fire
2012-08-10 20:10:44 UTC
SAN FRANCISCO (AP) — Analysts expect West Coast gas prices to rise beyond $4 a gallon after a fire knocked out a key section of one of the nation's largest oil refineries.
Meanwhile, the same U.S. Chemical Safety Board team that investigated th...
US employers post the most jobs in 4 years
2012-08-07 22:32:43 UTC
WASHINGTON (AP) — U.S. employers posted the most job openings in four years in June, a positive sign that hiring may pick up.
The Labor Department said Tuesday job openings rose to a seasonally adjusted 3.8 million in June, up from 3.7 million ...
Refinery problems, spill drive up Great Lakes gas
2012-08-04 14:23:04 UTC
MADISON, Wis. (AP) — A rare combination of pipeline and refinery problems has exacerbated already rising gas prices in the Great Lakes region, leading to surges of around 35 cents per gallon in just one week, officials said Friday.
Failure of bank in Illinois brings '12 total to 40
2012-08-04 14:06:21 UTC
WASHINGTON (AP) — Regulators have closed a small bank in Illinois, bringing to 40 the number of U.S. bank failures this year.
The Federal Deposit Insurance Corp. on Friday seized Waukegan Savings Bank, based in Waukegan, Ill.
The bank had ab...
Economy generates 163K jobs in sign of resilience
2012-08-04 14:25:33 UTC
WASHINGTON (AP) — The U.S. economy generated jobs last month at the fastest pace since February, a sign it is resilient enough to pull out of a midyear slump and grow modestly even as the rest of the world slows down.
The 163,000 jobs employers...
Gov't report: Tax cheats getting paid by Medicaid
2012-08-02 08:46:51 UTC
WASHINGTON (AP) — Thousands of Medicaid health care service providers still got paid by the government even though they owed hundreds of millions of dollars in federal taxes, congressional investigators say. A legal technicality is making it harde...