EconomyNo recession yet, Greenspan says
HOUSTON - Former Federal Reserve Chairman Alan Greenspan said Thursday night the American economy is clearly on the edge of a recession, and he pointed to the depressed housing market as a primary culprit. In dinner remarks to about 1,100 energy ind...
Author:JOHN PORRETTODate:03/25/14Click:7706 Full Story »
EconomyDow and Nasdaq slip on consumer spending worry
NEW YORK (Reuters) - The Dow and Nasdaq slipped on Friday on concerns about consumer spending after an index of consumer sentiment fell to a 16-year low and retailer Best Buy (BBY.N) warned that shopper traffic dropped off after the holidays. The SP...
Author:Jennifer CooganDate:03/25/14Click:7679 Full Story »
EconomyEconomic woes reveal a long-felt unease
Even when experts were declaring the economy healthy, many Americans voiced a vague, but persistent dissatisfaction. True, jobs were relatively plentiful over the last few years. It was easy to borrow and very cheap. The sharp rise in the value of h...
Author:ADAM GELLERDate:03/25/14Click:7677 Full Story »
EconomyConsumer spending 'likely to slow'
Consumer spending is likely to slow significantly because of tighter credit conditions, according to Tim Besley, an external member of the Bank of England's monetary policy committee. Small increases in the price of credit can significantly deter ho...
Author:Chris GilesDate:03/25/14Click:7672 Full Story »
EconomyAirlines face tough times amid slowdown
SINGAPORE - Improved efficiency has helped airlines better prepare for a possible global economic slowdown compared to the last major recession, but expensive fuel continues to hurt bottom lines, an airline industry group said Monday. The airlines a...
Author:GILLIAN WONGDate:03/25/14Click:7673 Full Story »
EconomyAmerica's economy risks the mother of all meltdowns
I would tell audiences that we were facing not a bubble but a froth - lots of small, local bubbles that never grew to a scale that could threaten the health of the overall economy. Alan Greenspan, The Age of Turbulence. That used to be Mr Greenspan'...
Author: Martin WolfDate:03/25/14Click:7675 Full Story »
EconomyOil jumps above $100 on refinery outage
NEW YORK - Oil futures shot higher Tuesday, closing above $100 for the first time as investors bet that crude prices will keep climbing despite evidence of plentiful supplies and falling demand. At the pump, gas prices rose further above $3 a gallon...
Author:JOHN WILENDate:03/25/14Click:7679 Full Story »
EconomyConsumer spending slowed in December
WASHINGTON Buffeted by soaring fuel prices and tighter credit, consumers increased their spending at the weakest pace in six months. In other signs of trouble, applications for unemployment benefits last week soared by the largest number since Hurri...
Author:MARTIN CRUTSINGERDate:03/25/14Click:7673 Full Story »
EconomyOhio forecasting pig will opine on economy
CHICAGO (Reuters) - Darke County Dave, a local hog, will opine -- or oswine -- on America's economic outlook on Friday, the Ohio treasurer's office said. In his inaugural outing, Dave will choose between a trough of sugar or one of sawdust to gauge...
Author:Ros KrasnyDate:03/25/14Click:7670 Full Story »
EconomyJobless claims surge, spending softens
WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless aid surged last week to the highest since October 2005, and consumer spending softened at the end of last year, according to reports on Thursday that heightened worries...
Author:Joanne MorrisonDate:03/25/14Click:7669 Full Story »
EconomySenate sets economic stimulus debate next week
WASHINGTON (Reuters) - The Senate on Thursday pushed back until next week a showdown on an economic stimulus package, with Democrats seeking to expand the tax rebates and other benefits approved by the House of Representatives. Senate Majority Leade...
Author:Richard Cowan & ThomDate:03/25/14Click:7675 Full Story »
EconomyFed attacks in the face of uncertainty
Pity the Federal Reserve. Given extreme uncertainty about the trajectory of the US economy, it is like a poker player in a hand with a big pot and every player still in: placing a monetary policy bet takes luck as much as judgment. A sound case can...
Author:UnknownDate:03/25/14Click:7670 Full Story »
EconomyMPC damps aggressive cut expectations
The Bank of England's monetary policy committee voted eight to one to leave interest rates unchanged last month, according to minutes of the meeting published on Wednesday, while official statistics showed growth slowed slightly less than expected i...
Author:Delphine StraussDate:03/25/14Click:7680 Full Story »
EconomyBush: Economic stimulus package to be "robust"
WASHINGTON (Reuters) - President George W. Bush insisted on Wednesday that the economic stimulus package he is working on with Congress will be robust enough to help the U.S. economy. I talked to them about my desire to work with the Congress to get...
Author:UnknownDate:03/25/14Click:7669 Full Story »
EconomySovereign Bancorp posts $1.6 billion loss
NEW YORK (Reuters) - Sovereign Bancorp Inc (SOV.N), the second-largest U.S. savings and loan, on Wednesday posted a $1.6 billion quarterly loss and canceled its dividend following a larger-than-expected write-down for consumer credit losses and a 20...
Author:Jonathan StempelDate:03/25/14Click:7677 Full Story »
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