News & Headlines
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Advanced nations cant control world economy
WASHINGTON — Advanced countries can no longer manage global economic stability by themselves, Brazil's finance minister, Guido Mantega, told the International Monetary Fund on Saturday.
Even the smart money is flummoxed by this economy
Some market strategists say the recent drop in stock prices means the market is expecting a recession. Banks like Goldman Sachs and others have lowered their year-end forecasts for the Standard & Poor's 500 index. And
Google celebrates John Lennon with 1st-ever animated video doodle! (Click on Google.com logo)
Foreign buyers see big opportunity in housing bust
"I have never seen such a high concentration of foreign nationals acquiring real estate," says Peter Zalewski, who has been in real estate for 15 years
Colleges buy land they don't know how they'll use
Colleges and universities are buying up chunks of land at bargain prices, sometimes without a clear idea how they'll be used.
Obama calling for more infrastructure spending
President Barack Obama is asking Congress to approve at least $50 billion in long-term investments in the nation's roads, railways and runways in a pre-election effort to show he's trying to stimulate the sputtering economy.
Future hiring will mainly benefit the high-skilled
Whenever companies start hiring freely again, job-seekers with specialized skills and education will have plenty of good opportunities. Others will face a choice: Take a job with low pay — or none at all.
Construction Spending Rose Slightly
Economists surveyed by Thomson Reuters are forecasting that construction spending dipped 0.5 percent in July. The Commerce Department will release the new report at 10 a.m. EDT Wednesday.
Construction activity declines 1 percent in July
Construction spending tumbled in July to the lowest level in a decade, as the housing market struggles in the weak economy and without a popular home-buying tax credit.
New York real estate shines over gloomy US market
NEW YORK — Unruffled by the moribund US housing sector, New York's residential property market is booming.
Regulators shut down big Chicago bank, 7 others
Regulators on Friday shut down a big community bank based in Chicago that has been known for its social activism but racked by financial troubles in recent months.
Jobless claims rise to highest level in 9 months
Employers appear to be laying off workers again as the economic recovery weakens. The number of people applying for unemployment benefits reached the half-million mark last week for the first time since November.
Stocks rise on jobs, service sector growth
Reassuring signs on employment and growth in the service industry got the stock market back on an upward trajectory Wednesday.
As spending by wealthy weakens, so does economy
Wealthy Americans aren't spending so freely anymore. And the rest of us are feeling the squeeze. The question is whether the rich will cut back so much as to tip the economy back into recession
Unemployment rises in 75 pct of metro areas
The unemployment rate in about three-quarters of the nation's largest metro areas rose last month as nearly one million teenagers entered the work force looking for summer jobs.
Mortgage lenders must register in database
Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble.
Don't hold your breath for a bounce in home prices
Despite four years of falling prices and recent signs that they were finally bottoming out, homes are expected to lose still more value in many metro areas over the next year.
FTC bans 8 marketers from selling mortgage relief
Federal regulators have banned eight individuals and companies from selling mortgage-relief services, settling charges that they used false advertising to deceive homeowners facing foreclosure.
China surpasses US as top energy user
The International Energy Agency says China is now the world's largest energy consumer, not the U.S. The historic shift comes years ahead of forecasts and as China's energy use has more than doubled in less than a decade.
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