Economy

  • Carmakers report strong June sales, easing worries
    Ab85d7d19eab4e12140f6a706700fced 2012-07-03 18:59:46 UTC
    DETROIT (AP) — From mini cars to monster pickups, sales of vehicles charged higher in June and eased concerns that Americans would be turned off by slower hiring and other scary headlines. Automakers reported big gains over June of last year. C...
  • Airbus to build 1st US assembly plant in Alabama
    310009c4857f3812140f6a7067008d82 2012-07-02 22:46:09 UTC
    MOBILE, Ala. (AP) — European aerospace giant Airbus will start building planes in Mobile, Ala., planting its first factory on U.S. soil and aiming to compete better against archrival Boeing. Airbus, based in France, said it plans to employ 1,00...
  • Consumer confidence slipped in June
    5a4d8822eaaaa711130f6a706700d327 2012-06-27 08:47:58 UTC
    NEW YORK (AP) — Americans can't seem to shake their uneasy feeling about the economy. Consumer confidence fell in June for the fourth straight month as worries about jobs and the overall economy outweighed relief at the gas pump and an improvem...
  • US new-home sales rose at fastest pace in 2 years
    Untitled 2012-06-25 20:47:19 UTC
    WASHINGTON (AP) — Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery is continuing in the U.S. housing market, despite weaker job growth. The Commerce Department said Monday tha...
  • Stocks head lower as Spain seeks help for banks
    Untitled 2012-06-25 20:43:15 UTC
    NEW YORK (AP) — Europe's latest efforts to quell its financial crisis left investors exasperated, causing steep losses in stock markets on both sides of the Atlantic. The Dow Jones industrial average dropped 138 points to close Monday at 12,503...
  • Negotiators closing in on student loan deal
    Untitled 2012-06-23 18:09:27 UTC
    WASHINGTON (AP) — Congressional bargainers appeared to be closing in on a compromise that would head off a July 1 doubling of interest rates on federal loans to 7.4 million college students and end an election-year battle between President Barack ...
  • Feds probe engine stalling in Chrysler 200
    0 2012-06-22 16:14:39 UTC
    DETROIT (AP) — Federal safety regulators are investigating complaints about engine stalling in some Chrysler 200 midsize sedans. The probe includes about 87,000 of the cars from the 2011 model year that have 3.6-liter V-6 engines. The Nation...
  • US stocks bounce back, with banks leading the way
    Untitled 2012-06-22 16:05:27 UTC
    NEW YORK (AP) — Banks are leading the stock market up in midday trading, a day after stocks had their second-worst loss of the year. JPMorgan Chase and Bank of America are among the top stocks in the Dow Jones industrial average Friday. The gai...
  • Parties are worlds apart on how to fix economy
    Untitled 2012-06-18 20:08:04 UTC
    WASHINGTON (AP) — Millions of Americans are desperate for work, runaway government spending clouds the future and Democratic and Republican candidates are busy making one thing clear: They're light years apart on what to do about it. They do ag...
  • US unemployment aid applications rise to 386K
    2de461c9cd6440ccb6d1f0f1b26f4551-d17b06ac7a2343fbbe6063f5d1abba73-2 2012-06-14 16:50:42 UTC
    WASHINGTON (AP) — More Americans sought unemployment aid last week, suggesting hiring remains sluggish. The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase fr...
  • US retail sales dropped 0.2 percent in May
    Us_retail_sales_dropped_0.2_percent_in_may_ 2012-06-13 17:43:48 UTC
    WASHINGTON (AP) — Americans barely increased their spending at retail businesses in April and May, constrained by weak job creation and paltry wage increases. A sharp drop in gas prices pulled down overall sales in both months by 0.2 percent, t...
  • JPMorgan CEO says execs may have pay taken back
    Jpmorgan_ceo_says_execs_may_have_pay_taken_back_ 2012-06-13 17:33:24 UTC
    WASHINGTON (AP) — JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company. "It's likely that there will be cl...
  • Cost to lunch with Warren Buffett: $3.5 million
    Untitled 2012-06-10 03:32:03 UTC
    OMAHA, Neb. (AP) — The cost to dine with investor Warren Buffett has apparently spiked in value, with one deep-pocketed bidder forking over nearly $3.5 million during a charity auction. The annual auction for a private lunch with the Nebraska b...
  • Consumer confidence in the economy plunged in May
    Untitled 2012-05-29 18:17:01 UTC
    NEW YORK (AP) — Here we go again. Americans confidence in the economy suffered the biggest drop in eight months as worries about the weak jobs, housing and stock markets rattled them again. The decline comes after a few months of optimism amid ...
  • US bank earnings rose this winter to 5-year high
    111003_money_cash_bills_1 2012-05-24 20:51:06 UTC
    WASHINGTON (AP) — U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years and the number of troubled banks fell for the fourth straight quarter. The mostly positive first-quarter earnings released...
  • US stocks edge lower on Europe worries
    Stock-prices-fall-on-the-asx-data 2012-05-18 18:25:09 UTC
    It's going to take more than Facebook's initial public offering to push the stock market higher. U.S. stock indexes were flat-to-down slightly in early afternoon trading Friday. Facebook made its Wall Street debut, fashionably late, after a com...
  • Boehner: Spending cuts must offset debt limit hike
    Untitled 2012-05-15 20:07:10 UTC
    WASHINGTON (AP) — House Speaker John Boehner said Tuesday that when Congress raises the nation's borrowing cap he will again insist on spending cuts and budget reforms to offset the increase. In remarks prepared for a budget address Tuesday aft...
  • House panel considers higher 2013 defense budget
    Untitled 2012-05-09 15:21:30 UTC
    WASHINGTON (AP) — The House Armed Services Committee pressed ahead Wednesday with a version of the 2013 defense budget that adds billions to President Barack Obama's proposed budget and rejects the administration's call for military base closings....
  • Gas price likely won't set record this summer
    259-hmu3n.em.55 2012-05-09 07:19:41 UTC
    NEW YORK (AP) — Gasoline prices likely won't set any records this summer, thanks to a recent drop in the price of oil. The government on Tuesday slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season. That...
  • Cities seek more money from tax-exempt colleges
    20120506__web_050612-kp-trench-3_400 2012-05-07 17:29:04 UTC
    PROVIDENCE, R.I. (AP) — Wary of tax increases, weary of layoffs and determined to avoid bankruptcy, Providence Mayor Angel Taveras had only to gaze up at his city's Ivy League campus to see a way out of the morass. On College Hill sits Brown Un...
  • Buffett's health on minds of Berkshire investors
    Untitled 2012-05-05 16:49:24 UTC
    OMAHA, Neb. (AP) — While 81-year-old Warren Buffett's health has been on investors' minds, many shareholders at Berkshire Hathaway's annual meeting said Saturday that they aren't that worried about Buffett's prostate cancer diagnosis. More than...
  • Discharged outspoken Marine works last day
    4-25-12-marine-sgt.-gary-stein_full_600 2012-05-03 18:38:03 UTC
    SAN DIEGO (AP) — The last day of military service has arrived for a Marine Corps sergeant discharged for criticizing President Barack Obama on Facebook. Sgt. Gary Stein says Thursday is his last day on the job for the Marine Corps. The milit...
  • US factory orders fell in March by most in 3 years
    Factory-aircraft-435cs050212 2012-05-02 19:54:58 UTC
    WASHINGTON (AP) — Demand for U.S. factory goods dropped in March by the most in three years, driven lower by a sharp fall in volatile orders for commercial aircraft. Still, more recent data suggest the decline may be temporary. The Commerce Dep...
  • Natural gas prices up 5 pct. on production report
    Natural_gas 2012-04-30 20:56:35 UTC
    NEW YORK (AP) — The price of natural gas jumped by nearly 5 percent Monday after government data showed that producers are making good on promises to cut supplies. Chesapeake Energy Corp., ConocoPhillips and Encana Corp. have each said that the...
  • Barnes & Noble and the e-reader competition
    Nook_next_to_paperbacks.top 2012-04-30 20:15:07 UTC
    Barnes & Noble Inc. makes a variety of Nooks with black-and-white screens, dedicated to reading, and the Nook Color and Nook Tablet, which add color screens, third-party applications and Internet browsing to the mix. Here's how its sales stacke...