Economy
EconomyBernanke in hot seat as market turmoil spikes
WASHINGTON (AFP) - Federal Reserve chairman Ben Bernanke is facing the biggest challenge of his career amid fears the US economy is sinking into a recession, analysts say. Market criticism of Bernanke, who presided over a surprisingly deep interest...
Author:Justin ColeDate:03/25/14Click:7669 Full Story »
EconomyU.S. plan could forestall recession: Nasdaq CEO
DAVOS, Switzerland (Reuters) - Nasdaq Stock Market (NDAQ.O) President and Chief Executive Bob Greifeld said on Thursday a U.S. stimulus package had the ability to forestall a recession in the world's largest economy. I think the stimulus package tha...
Author:UnknownDate:03/25/14Click:7669 Full Story »
EconomyOil jumps on stimulus plan agreement
NEW YORK - Oil futures jumped more than $2 a barrel Thursday after the Bush administration and Congressional leaders agreed to an economic stimulus plan that will give most Americans tax rebates of $600 to $1,200, or even more if they have kids. Pri...
Author:JOHN WILENDate:03/25/14Click:7669 Full Story »
EconomyUS home sales slump further, close 2007 on sour note
WASHINGTON (AFP) - US existing home sales fell 2.2 percent in December as the beleaguered housing market saw no relief from its woes, data releases Thursday showed. The National Association of Realtors reported an annualized sales pace of 4.89 milli...
Author:UnknownDate:03/25/14Click:7671 Full Story »
EconomyU.S. existing home sales fell 2.2 pct in December
WASHINGTON (Reuters) - The pace of existing home sales in the United States fell by 2.2 percent in December to a slower-than-expected 4.89 million-unit annual rate, the National Association of Realtors said in a report on Thursday. The inventory of...
Author:UnknownDate:03/25/14Click:7671 Full Story »
EconomyNew data cap dismal year for US housing market
The US housing market closed the books on a dismal year on Thursday, recording a 2.2 per cent drop in the pace of existing home sales in December to an annual rate of 4.89m units, which was slower than expected. The consensus on Wall Street was that...
Author:James PolitiDate:03/25/14Click:7669 Full Story »
EconomyWall St. jumps with tax-rebate deal, Qualcomm
NEW YORK (Reuters) - Stocks rose on Thursday, after government leaders agreed on a plan for tax rebates to stimulate the U.S. economy and a healthy outlook from cell- phone chip maker Qualcomm helped drive the Nasdaq up sharply. Concerns that the ec...
Author:Caroline ValetkevitcDate:03/25/14Click:7669 Full Story »
EconomyEnron creditors seek remedies from benefits firm
NEW YORK (Reuters) - Enron Corp creditors said on Thursday they have filed court documents seeking remedies from benefits outsourcing firm Hewitt Associates Inc (HEW.N) for mistakes made in allocating funds from legal settlements stemming from the e...
Author:UnknownDate:03/25/14Click:7670 Full Story »
EconomyGreenspan disputes US recession signs
The US economy may not be growing at all, but it is not yet clear that it is falling into recession, former Federal Reserve chairman Alan Greenspan has told the Financial Times. Mr Greenspan said: The reason we have had this extraordinary volatility...
Author:Krishna GuhaDate:03/25/14Click:7669 Full Story »
EconomyHousing picture still dire, but labor market steady
WASHINGTON (Reuters) - Sales of previously owned U.S. homes fell more than expected in December, ending a year that brought the sharpest housing slowdown since 1982 and the first annual drop in prices since the Great Depression. But as the economy h...
Author:Joanne MorrisonDate:03/25/14Click:7669 Full Story »
EconomyTentative deal reached on economic package
WASHINGTON (Reuters) - The White House and the Democratic-led Congress on Thursday reached a tentative deal on an economic stimulus package of tax rebates for families and incentives for business investment with a cost that a top Democrat said may e...
Author:Richard Cowan & DonnDate:03/25/14Click:7670 Full Story »
EconomyExisting single-family home sales drop
WASHINGTON - Sales of existing single-family homes plunged in 2007 by the largest amount in 25 years, closing out an awful year that saw median prices fall for the first time in at least four decades. The National Association of Realtors reported Th...
Author:MARTIN CRUTSINGERDate:03/25/14Click:7669 Full Story »
EconomyBush, Congress strike deal on economic plan
WASHINGTON (Reuters) - President George W. Bush and congressional leaders agreed on Thursday on a $150 billion package of tax rebates and business incentives meant to ward off a recession in the world's largest economy. The deal between the White Ho...
Author:Richard Cowan & DonnDate:03/25/14Click:7670 Full Story »
EconomySKorea's economy accelerates in 4Q
SEOUL, South Korea - South Korea's economic growth accelerated in the fourth quarter on strength in exports and manufacturing, the Bank of Korea said Friday, with economists expressing optimism the country can weather a possible global slowdown. Gro...
Author:KELLY OLSENDate:03/25/14Click:7669 Full Story »
EconomyProposed mortgage plan could aid markets
WASHINGTON - A component of the government's tentative economic stimulus package announced Thursday would give an immediate lift to buyers and sellers in higher-priced housing markets. The package agreed upon by Democratic and Republican members of...
Author:ALAN ZIBELDate:03/25/14Click:7673 Full Story »
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