|
Latest Articles: Business
Stocks, Dollar Gain as Spending, AIG Deal Bolster Confidence
Post Date: 2010-03-01 16:04:58 by war
1 Comments
March 1 (Bloomberg) -- Stocks and the dollar rose as growth in U.S. consumer spending, a possible European rescue of Greece and American International Group Inc.’s $35.5 billion sale of an Asian unit bolstered confidence in the economic recovery. The Standard & Poor’s 500 Index gained 0.9 percent to 1,114.69 at 2:36 p.m. in New York and climbed as high as 1,116.11, erasing its loss for 2010. Europe’s Stoxx 600 Index rallied 1.2 percent. The Dollar Index climbed 0.5 percent to 80.742, near its highest level since June. Copper rose after the earthquake in Chile, the biggest producer of the metal, while the nation’s benchmark stock index tumbled. Greek equities and ...
Kohn To Leave Federal Reserve In Late June, Giving Obama Chance To Enlarge His Stamp On Central Bank
Post Date: 2010-03-01 12:46:00 by Brian S
0 Comments
By JEANNINE AVERSA | Associated Press | 1 hour, 27 minutes ago in Business Share Share Share Donald Kohn, the second-highest ranking official at the Federal Reserve, announced Monday that he will leave at the end of June, giving President Barack Obama a chance to put a bigger imprint on the central bank. Kohn, vice chairman, has played a major role in shaping the Fed's strategy in fighting the worst financial and economic crises to hit the country since the Great Depression. His departure will open up a third seat on the seven-member Federal Reserve board in Washington. Board members are picked by the president and must be confirmed by the Senate. The president will have a delicate ...
Canada's Economy Grows At Fastest Pace Since 2000
Post Date: 2010-03-01 12:25:40 by Brian S
16 Comments
Canada's economy grew in the final three months of 2009 by the fastest pace in nine years, official figures have shown. The economy expanded by 5% on an annualised basis during the quarter, after growing at a rate of 0.9% in the previous three months. The data was boosted by rising consumption, government spending and property investments. Canada's economy has rebounded strongly like its neighbour, the US. The US economy grew at an annualised rate of 5.9% in the last three months of 2009, the Commerce Department said last week, revised higher from the first estimate of 5.7%. Canada's growth was the more than economists had predicted, and faster than the 3.3% that its ...
Manufacturing in U.S. Expanded for Seventh Month in February
Post Date: 2010-03-01 10:18:04 by war
6 Comments
March 1 (Bloomberg) -- Manufacturing expanded in February for a seventh consecutive month, indicating factories are leading the U.S. economic recovery. The Institute for Supply Management’s factory index fell to 56.5, lower than anticipated, from January’s 58.4, which was the highest since August 2004, figures from the Tempe, Arizona-based group showed. Readings greater than 50 signal expansion. Measures of new orders and production declined, while a gauge of employment grew at the fastest pace in five years. Factories boosted production to replenish depleted inventories and invested in new equipment last year as global demand picked up following the worst recession in seven ...
Health Insurance Hikes (some over 75%) Stun Small Businesses
Post Date: 2010-02-26 12:30:38 by Brian S
1 Comments
While Anthem Blue Cross has been taking the heat for proposing rate increases of up to 39 percent on individual consumers, other health insurers have stunned some small businesses with hikes that in some cases exceed 75 percent. Tom Simmons, president of an Oakland design and consulting firm with four employees, said he had just read about the Anthem increases when he opened a letter from his insurer, Blue Shield of California, informing him his monthly family premium would go up to $1,596 a month from $908, a nearly 76 percent increase. "This industry is getting out of control. It makes me fearful of future years and what could become of things if something doesn't change," ...
Chicago Manufacturing Activity Expands At Faster Pace In February
Post Date: 2010-02-26 11:55:59 by Brian S
0 Comments
(RTTNews) - Friday morning, the Institute for Supply Management - Chicago released its report on regional manufacturing activity in the month of February, showing that its index of activity in the manufacturing sector unexpectedly increased. The ISM - Chicago said its business barometer index rose to 62.6 in February from 61.5 in January, with a reading above 50 indicating growth in the manufacturing sector. The increase came as a surprise to economists, who had expected the index to slip to 59.7. With the unexpected increase, the index rose to its highest level since April of 2005. The ISM - Chicago added that the index accelerated for the fifth straight month, a trend not seen since 20 ...
Double-Dip Recession Unlikely - World Bank Chief
Post Date: 2010-02-26 11:34:10 by Brian S
2 Comments
WASHINGTON, Feb 26 (Reuters) - World Bank President Robert Zoellick said on Friday a double-dip economic recession was unlikely but there still was a sense of uncertainty as the world economy emerges from recession. "The world economy is no longer staring into the abyss but we're definitely not out of the woods by any means," Zoellick told a meeting of the Bretton Woods Committee. "I don't believe a double-dip is likely but the pace of recovery is going to be quite uncertain." He said as economies recover there were also hidden dangers and re-pricing of sovereign credit risk would be a challenge in 2010. "It extends beyond Greece and in the case of the ...
Obama Recovery Humming Along Even Better Than First Thought - 4Q GDP UP 5.9%
Post Date: 2010-02-26 08:33:37 by war
4 Comments
Feb. 26 (Bloomberg) -- The economy in the U.S. expanded at a 5.9 percent annual rate in the fourth quarter, more than the government reported last month, reflecting stronger business investment and a greater contribution from inventories. The rise in gross domestic product, which exceeded the median forecast of economists surveyed by Bloomberg News, marked the best performance in more than six years, the Commerce Department said today in Washington. Inventories added 3.88 percentage points to GDP, more than previously reported, and investment in software and equipment grew at the fastest pace in almost a decade. Manufacturers such as Deere & Co. may continue to lead the recovery as ...
U.S. Durables Orders Rose 3% in January
Post Date: 2010-02-25 08:37:09 by war
11 Comments
Feb. 25 (Bloomberg) -- Orders for U.S. durable goods rose more than forecast in January, boosted by a surge in bookings for commercial aircraft that masked a decline in demand for some business equipment. Bookings for goods meant to last several years jumped 3 percent last month after a revised 1.9 percent increase, figures from the Commerce Department showed today in Washington. Durable goods orders excluding transportation equipment unexpectedly fell 0.6 percent, the biggest drop since August. Factories may be taking a pause to gauge demand after boosting production in the second half of 2009 as companies replenished inventories. Restrained consumer spending and home sales underscore ...
Jobless Claims in U.S. Increased 22,000 Last Week to 496,000
Post Date: 2010-02-25 08:34:32 by war
1 Comments
Feb. 25 (Bloomberg) -- The number of Americans filing first-time claims for unemployment insurance unexpectedly increased last week, a sign that the economic recovery will be uneven as the labor market struggles to rebound. Initial jobless applications rose by 22,000 to 496,000 in the week ended Feb. 20, Labor Department figures showed today in Washington. The total number of people receiving unemployment insurance gained and those receiving extended benefits decreased. Companies are waiting to see sustained sales before adding to payrolls, even as manufacturers help the country emerge from the worst recession since the 1930s. An unemployment rate that’s forecast to average 9.8 percent ...
Auburn CA, sees more businesses close
Post Date: 2010-02-24 13:04:35 by Nebuchadnezzar
8 Comments
Auburn sees more businesses close By Gloria Young, Journal Staff Writer Ben Furtado/File Photo Richie Hocutt displays his expertise with pizza dough at The Pizza Place in Downtown Auburn. Hocutt and his dad, Mike Hocutt, purchased the restaurant in the summer of 2008, reopening in August after a remodel. The eatery closed last week. The Pizza Place owner Mike Hocutt had hoped to enjoy the benefits of being near Downtown Auburn’s completed Streetscape area. But the recession got the better of him. Hocutt and his son, Richie, closed the doors of the eatery last week, just as the city’s beautification project was seeing its finishing touches. “Starting about 18 months ago, ...
Bernanke Says ‘Nascent’ Recovery Still Requires Low Rates
Post Date: 2010-02-24 10:14:09 by war
1 Comments
Feb. 24 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the U.S. economy is in a “nascent” recovery that still requires low interest rates to encourage demand by consumers and businesses once federal stimulus expires. “A sustained recovery will depend on continued growth in private-sector final demand for goods and services,” Bernanke told the House Financial Services Committee today in Washington at the start of his two days of semi-annual testimony before Congress. “Private final demand does seem to be growing at a moderate pace.” The 56-year-old Fed chairman, who began his second four- year term this month, said slack labor markets and low ...
They're Hiring!11 ~88K Jobs In The 22 Best Companies To Work For Begging For Workers...
Post Date: 2010-02-24 08:05:12 by war
0 Comments
These 22 Best Companies to Work For have at least 500 openings each, totaling more than 87,750 jobs. What are they looking for in a new hire? Before you apply, check out these excerpts from our interviews with HR professionals and others in the know.
Toyota: Recalls Won't Totally Fix Gas Pedal Issues
Post Date: 2010-02-23 17:17:38 by Brian S
24 Comments
By LARRY MARGASAK and KEN THOMAS WASHINGTON (AP) -- The president of Toyota's U.S. operations acknowledged to skeptical lawmakers on Tuesday that the company's recalls of millions of its cars may "not totally" solve the problem of sudden and dangerous acceleration. "We are vigilant and we continue to look for potential causes," Toyota's James Lentz told a congressional panel. However, he repeated his company's position that unexpected acceleration in some of the company's most popular cars and trucks was caused by one of two problems - misplaced floor mats and sticking accelerator pedals. He insisted electronic systems connected to the gas pedal ...
China Vows Sanctions Against US Companies Will Go Forward
Post Date: 2010-02-23 11:58:44 by Brian S
0 Comments
The rift between China and the United States looks far from healing as Beijing reiterates its plan to punish U.S. companies following disagreements between the two countries. Beijing's anger at Washington over a range of issues from arms sales to Taiwan and the U.S. president's meeting with Tibet's exiled leader the Dalai Lama, showed no signs of abating Tuesday. Foreign Ministry spokesman Qin Gang reaffirmed punitive sanctions against American companies would go ahead, because of U.S. arms sales to Taiwan. In addition, China is angry over U.S. positions on a number of issues, including trade, human rights and allegations of Chinese cyber-attacks on U.S. organizations. He ...
`Problem' Banks in U.S. Soar by 27% as FDIC Insurance Fund Deficit Widens
Post Date: 2010-02-23 11:28:58 by Brian S
0 Comments
Feb. 23 (Bloomberg) -- U.S. “problem” lenders climbed to the most in 17 years, and the Federal Deposit Insurance Corp. fund protecting customers against bank failures extended its deficit into a second quarter, the agency said. The FDIC included 702 banks with $402.8 billion in assets on the confidential list as of Dec. 31, a 27 percent increase from 552 banks with $345.9 billion in assets at the end of the third quarter, the regulator said today. The agency said the deposit insurance fund had a deficit of $20.9 billion. “Consistent with a recovering economy, we saw signs of improvement in industry performance,” FDIC Chairman Sheila Bair said in a statement. “But ...
Consumer Confidence in U.S. Falls to 10-Month Low as Outlook for Jobs Dims
Post Date: 2010-02-23 11:26:29 by Brian S
6 Comments
Feb. 23 (Bloomberg) -- Confidence among U.S. consumers fell more than anticipated in February to the lowest level since April 2009 as the outlook for jobs diminished, a sign spending may be slow to gain traction as the economy recovers. The Conference Board’s confidence index declined to 46, below the lowest forecast in a Bloomberg News survey of economists, from a revised 56.5 in January, a report from the New York-based private research group showed today. Concerns about the economy and the labor market pushed an index of current conditions to its lowest in 27 years. Stocks extended losses and Treasuries gained after the report indicated a lack of job growth and impaired household ...
Home Prices in 20 U.S. Cities Rose for Seventh Month
Post Date: 2010-02-23 09:46:40 by war
0 Comments
Feb. 23 (Bloomberg) -- Home prices in 20 U.S. cities rose in December for a seventh consecutive month, indicating the industry at the heart of the worst recession since the 1930s is stabilizing. The S&P/Case-Shiller home-price index increased 0.3 percent from the prior month on a seasonally adjusted basis, more than anticipated and matching the gain in November, figures from the group showed today in New York. The gauge was down 3.1 percent from December 2008, the smallest decline since May 2007. Lower property values, rising incomes and government credits are making homes more affordable. A sustained recovery in housing still faces hurdles that include mounting foreclosures, a weak ...
FL Gov Charlie Crist: Stimulus Did Create Jobs
Post Date: 2010-02-22 18:41:03 by Brian S
1 Comments
ABC News’ Yunji de Nies, Jake Tapper and Sunlen Miller Report: Florida Governor Charlie Crist says Republicans who say the stimulus has not created jobs are simply wrong. "That’s not the case in Florida," he said speaking after the National Governors Association meeting at the White House, "It created or maintained at least 87,000 jobs, 27,000 of those jobs are educators and teachers throughout our state. I dare say what impact the would have on the students if those teachers were out of work, unable to put bread on the table for their families." The governor said accepting stimulus funding was "the responsible and right thing to do for ...
CA: Despite Dire Predictions, State Farm Jobs Aren't Disappearing
Post Date: 2010-02-22 18:39:58 by Brian S
1 Comments
February 22, 2010 When California Sen. Dianne Feinstein drafted legislation that would weaken endangered species protections to deliver more water to San Joaquin Valley farms, her rationale was jobs. "People in California's breadbasket face complete economic ruin," the Democrat said in a recent statement. She was joining a chorus of Central Valley politicians and farm groups that during the last year have painted the region as a dust bowl, beset by drought and environmental protections that are cutting vital water deliveries and the jobs that depend on them. But crop and labor statistics for 2009 belie the image of a withering farm economy teetering on the edge of ...
L.A. and Long Beach Ports Are Loading Up On Jobs; Number Of Dockworkers Up 34.5% During The First Three Weeks Of February
Post Date: 2010-02-22 18:37:54 by Brian S
0 Comments
The ports of Los Angeles and Long Beach are bringing in a surprising new commodity: jobs. The first post-recession surge in employment at the nation's busiest seaport complex began this month and appears to be gathering momentum. There has been as much as a threefold increase in the number of longshoremen finding work on the docks in the first three weeks of February compared with the same period last year, a review of daily employment dispatches shows. Through the first three weeks there was an average of 2,679 longshore jobs a day during the usual three work shifts at the two ports, according to the summaries. That's an increase of 34.5% over the 1,992 jobs that were available ...
Business Spending to Power Expansion as Jobs Gain, Survey Says
Post Date: 2010-02-22 18:34:56 by Brian S
0 Comments
Feb. 22 (Bloomberg) -- Corporate investment will contribute to stronger growth in the U.S. and the economy will start to add jobs early this year, a survey of business economists showed. Spending on equipment and software by companies is expected to increase 7.2 percent this year, up from the November survey’s projection for a 4.2 percent gain, according to the median estimate of 48 economists surveyed by the National Association for Business Economics. Purchases will rise even more next year, jumping 8.6 percent. Corporate spending will help drive economic growth of 3.1 percent this year and 3.2 percent in 2011, economists said. That will help make up for weakness in consumer ...
Schwarzenegger: "I Don't Want To Beat Up On My Republican Colleagues" But The Stimulus Worked"
Post Date: 2010-02-22 15:40:19 by war
8 Comments
Arnold Schwarzenegger can't stand economic girlie men, and Republicans who accept stimulus money while posturing against the plan are behaving like girlie men. Appearing yesterday on ABC News, the governor credited the stimulus with creating 150,000 jobs in California. His sally against Republican colleagues begins around (0:43): "Well, you know, to me I find it interesting that you have a lot of the Republicans running around and pushing back on the stimulus money and saying this doesn't create any new jobs. Then, they go out and they do the photo ops and they are posing with the big check and they say, 'Isn't this great?'"
Rivers Casino to hire 300 to 350 workers for table games
Post Date: 2010-02-22 15:01:15 by war
5 Comments
The Rivers Casino on the North Shore announced Monday it is looking to hire 300 to 350 new employees to service the facility’s table games offerings, which it expects to launch this summer. The slots parlor is in the process of applying for a table games license, which is currently being crafted by the state after the legislature approved such gambling last month. The Rivers said it’s looking for dealers, managers, and supervisors to staff what the casino has previously said will be about 80 game tables. Inexperienced candidates will be offered the option to attend “dealer school” at the casino beginning in April. The current facility employs around 1,000 workers. ...
Continental Airlines Cutting 600 Call Center Jobs As More Customers Book Online
Post Date: 2010-02-22 14:23:22 by Brian S
2 Comments
Continental Airlines is cutting about 600 jobs in its reservations centers because customers increasingly prefer to book flights online. Continental told employees about the furloughs on Monday and said they would take effect April 11. The airline said it will cut the jobs of 250 agents who are currently on leave plus another 350 still working. The company said calls to reservations agents are falling 15 percent per year as customers instead buy tickets from Web sites. There is no charge for booking on continental.com, but customers must pay $20 to make a reservation by phone. Airlines use the call center fees to raise money and encourage passengers to book online, which is cheaper for ...
Latest [Newer] 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 [Older]
|
