Mon, 04/10/2010 - 22:53 by Prince damin
New York -- The stockpile of cash held by U.S. corporations has grown sharply since mid-2008 but it has not benefited the economy or workers, economists said.
The run-up of cash has been available with Federal Reserve Bank interest rates so low that corporations can issue bonds at rates even less than 1 percent, which still beats the Fed's overnight lending rate of zero to 0.25 percent.
"They are benefiting themselves by borrowing and keeping this cash, but is not benefiting the economy yet," The New York Times quoted Credit Suisse economist Dana Saporta as saying Monday.
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Sun, 26/09/2010 - 10:57 by Rakhi
Dublin, Ireland -- Ireland's finance minister said his country is not heading into a double-dip recession despite a surprising decline in gross domestic product.
Finance Minister Brian Lenihan said the 1.2-percent dip in the GDP during the second quarter announced this week was overshadowed by a decline of less than 1 percent in the more-closely watch gross national product.
Lenihan said the 0.3-percent GNP decline compared with the second quarter of last year came after a 1.2-percent fall in the first quarter. He said the Irish economy was continuing the process of stabilization.
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Sat, 18/09/2010 - 23:47 by Prince damin
New York -- NFL officials say the slumping U.S. economy is cutting into attendance at its games and will likely increase the number of games blacked out this season.
Eric Grubman, executive vice president of NFL ventures and business operations, told The Washington Post the smaller crowds and projected 20-percent increase in television blackouts is temporary.
"I think the economy is really hurting our fans," Grubman told the Post. "They tell us they're not leaving for good. They're just staying at home."
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Thu, 16/09/2010 - 09:04 by Prince damin
New York -- U.S. markets pushed higher Wednesday after Japan moved to shore up its export-oriented economy by selling yen and buying U.S. dollars.
Stocks in Japan surged as the yen dropped against the dollar, which makes prices of Japanese exports more affordable.
The Department of Labor said Wednesday that import prices in August rose 0.6 percent, greater than the 0.2 percent economist had expected. Export prices in the month rose 0.8 percent with agricultural export prices up 4.2 percent.
By close, the Dow Jones industrial average added 46.24 points, 0.44 percent, to 10,572.73. The Standard & Poor's 500 index rose 0.35 percent, 3.97, to 1,125.07. The Nasdaq composite index gained 0.5 percent, 11.55, to 2,301.32.
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Wed, 15/09/2010 - 21:56 by Prince damin
New York -- Crude oil prices dropped closer to $75 per barrel Wednesday morning after Japan moved to shore up its export-oriented economy by devaluing the yen.
Moving to buy U.S. dollars and sell off yen, Japan managed to shift the value of U.S. currency from near 82 yen per dollar Tuesday to 84.50 yen Wednesday morning.
As oil is priced in U.S. currency, the dollar's rise gave traders incentive to reduce their positions.
Light, sweet crude oil for October delivery on the New York Mercantile Exchange dropped $1.44 to $75.36 per barrel. Heating oil prices for October lost 0.009 cents to $2.1198 per gallon. Reformulated blendstock gasoline shed 0.0205 cents to $1.9485 per gallon.
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Wed, 08/09/2010 - 17:24 by Anonymous
It's no secret that mortgage availability in the United States has been down in recent years. Prior to the global financial crisis, mortgages were a lot easier to get hold of, but now it seems you need a good credit score to stand a chance, and even that is no guarantee of success.
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Sat, 04/09/2010 - 15:59 by Kimberly Reid
If you're rejoicing that the worst of the economic crisis is over, hold on! Though Fed is giving the impression that nation's economy is resuming growth, all is not as rosy as it seems.
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Sat, 04/09/2010 - 07:23 by Prince damin
Washington -- The U.S. economy shed 54,000 jobs in August as the employment recovery eroded for the second consecutive month, the Bureau of Labor Statistics said Friday.
The unemployment rate rose to 9.6 percent from 9.5 percent a month earlier.
The economy lost 131,000 jobs a month ago, but the unemployment rate remained intact at that time.
The Labor Department report looks to paint the labor market as stagnant, rather than crumbling.
"The unemployment rate was about unchanged," the report says. Later, it says the rate was "little changed."
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Tue, 31/08/2010 - 01:15 by Prince damin
Louisville, Ky. -- A Kentucky store manager said the return of Elvis Presley impersonators after a yearlong lull may be a good sign for the economy.
Rob Baker, manager of the Doo Wop Shop in Louisville, said Elvis impersonators were absent from the store for about a year until last week, when one came in to buy a wireless microphone and another stopped in later to rent portable show lights, The (Louisville) Courier-Journal reported Monday.
"Elvis is a dipstick, of sorts, for our economy," Baker said. "The party business is coming back. People are not thinking twice about having an event. They are feeling a bit more relaxed."
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Tue, 24/08/2010 - 21:55 by Prince damin
New York -- U.S. markets dipped early Tuesday as investors continued to flee equities on concerns that the economy could be headed for a second contraction.
Statistics Canada reported lackluster retail sales in June, with a climb of just 0.1 percent. The National Association of Realtors said existing home sales slowed sharply in July to annual rate of about 3.3 million homes, down from 5.2 million in June.
In midmorning trading, the Dow Jones industrial average dropped 178.23 points, 1.75 percent, to 9,996.18. The Standard & Poor's 500 index lost 1.65 percent, 17.66, to 1,049.70. The Nasdaq composite index lost 1.83 percent, 39.60, to 2,120.03.
The benchmark 10-year Treasury not rose 1 3/32 to yield 2.476 percent.
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Sat, 21/08/2010 - 22:58 by Rick Aristotle ...
Monday
China's CNinsure (Nasdaq: CISG) kicks off the new week of earnings reports. |
Tue, 17/08/2010 - 09:27 by Rakhi
New York -- U.S. stock indexes closed mixed Monday on the New York Stock Exchange, reacting to low U.S. home builder confidence and bad economic news from Japan.
The Dow Jones industrial average closed in the red, losing 1.14 points, or 0.01 percent, to finish at 10,302.01.
The Nasdaq composite finished up 8.39 points, or 0.39 percent, at 2,181.87. The Standard & Poor's 500 also ended the day in the black, finishing at 1,079.78 points, gaining 0.13 or 0.01 percent.
"The tea leaves that are falling -- as sparse as they are -- are falling on the negative side," Jim Meyer, chief investment officer at Tower Bridge Advisors, told The Wall Street Journal. "There's nothing out there to suggest any robustness."
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