Economy

  • 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...
  • US consumer spending slowed in March, income rose
    05869cbfd5544efea6e80137f5fd1968-5180ef47fee64699b56f5f6d656e43dd-0 2012-04-30 20:11:08 UTC
    WASHINGTON (AP) — Americans increased their spending more slowly in March, suggesting some are worried that their paychecks aren't growing fast enough. The Commerce Department said Monday that consumer spending increased just 0.3 percent last m...
  • Fed: Economy growing moderately; no policy changes
    539w 2012-04-25 17:24:48 UTC
    WASHINGTON (AP) — The Federal Reserve says the economy is growing moderately while cautioning that risks from Europe remain. It's holding off on taking any further steps to boost the recovery. In a statement after a two-day meeting, the Fed sai...
  • Social Security heading for insolvency even faster
    Untitled 2012-04-23 22:09:42 UTC
    WASHINGTON (AP) — Social Security is rushing even faster toward insolvency, driven by retiring baby boomers, a weak economy and politicians' reluctance to take painful action to fix the huge retirement and disability program. The trust funds th...
  • Facebook reports lower 1Q net income
    Facebook-money1 2012-04-23 19:56:18 UTC
    NEW YORK (AP) — Facebook is reporting, ahead of its initial public offering, expected in May, that its first-quarter net income fell as its revenue rose by comparison with a year earlier. Facebook Inc. said in a regulatory filing on Monday that...
  • 1 in 2 new graduates are jobless or underemployed
    Untitled 2012-04-23 19:20:26 UTC
    WASHINGTON (AP) — The college class of 2012 is in for a rude welcome to the world of work. A weak labor market already has left half of young college graduates either jobless or underemployed in positions that don't fully use their skills and k...
  • Hollande victory could roil US markets this week
    Untitled 2012-04-22 21:58:17 UTC
    WASHINGTON (AP) — A strong showing by Socialist candidate Francois Hollande in the first round of France's presidential election Sunday may rattle U.S. and global financial markets in the coming weeks. Hollande wants to renegotiate a European t...
  • IMF moves to calm market fears over European debt
    Picture_2 2012-04-21 20:55:10 UTC
    WASHINGTON (AP) — An infusion of hundreds of billions of dollars will give the International Monetary Fund a badly needed boost to tackle Europe's prolonged debt crisis. But global finance officials sent a strong message Saturday that struggling g...
  • Yahoo shows signs of life, Alibaba in the cards again
    Tag-reuters 2012-04-17 23:07:36 UTC
    SAN FRANCISCO (Reuters) - Yahoo Inc reported an uptick in revenue that marked its first quarterly sales growth in three years, as new Chief Executive Scott Thompson spearheads the latest attempt to revamp the struggling Web company. Thompson to...
  • U.S. regulators approve Cheniere LNG export plant
    Show-of-hands 2012-04-17 00:34:05 UTC
    (Reuters) - U.S. regulators on Monday approved the country's first liquefied natural gas export plant in nearly 50 years, which will open up cheap and abundant American supplies to importers across the globe. The Federal Energy Regulatory Commi...
  • New version of female condom touted
    Fc2_say_-_female_condom 2012-04-16 23:32:38 UTC
    New York (Associated press)— Advocates of the female condom are promoting a less costly, more user-friendly version that they hope will vastly expand its role in the global fight against AIDS and other sexually transmitted diseases. An early vers...