US Economy: 9/9 Yahoo! News: Economy News

Yahoo! News: Economy News

U.S. slips in WEF's competitiveness rankings (Reuters)

September 9, 2010 at 11:37 AM

Reuters - Switzerland remains the world's most competitive economy, while the United States has fallen from second to fourth, according to the World Economic Forum.

Wind-whipped fires add to Detroit's economic woes (AP)

September 9, 2010 at 11:21 AM

AP - For a city already struggling with high unemployment, widespread foreclosures and deep budget cuts, here was another crisis: Wind-whipped fires tearing through row after row of homes, some of them abandoned.

Financial crisis panel tells NV leaders to be bold (AP)

September 9, 2010 at 9:11 AM

AP - From mortgage problems to education and budget issues, Nevada leaders on Wednesday delivered a sobering assessment of the state's future as a result of the Great Recession during seven hours of testimony before a federal panel investigating the country's financial meltdown.

Obama: U.S. can't afford to extend tax cuts for rich (Reuters)

September 9, 2010 at 8:33 AM

Reuters - President Barack Obama, fighting to keep Democrats in charge of Congress, said on Wednesday the United States could not afford to extend Bush-era tax cuts for the rich and accused Republicans of being fiscally irresponsible.

Obama: Democrats in trouble if election based on economy (AFP)

September 9, 2010 at 7:55 AM

AFP - President Barack Obama admitted Wednesday if US voters in the upcoming midterm elections make their choices based on their opinion of the economy, his Democratic Party could be in big trouble.

Obama: Democrats risk November pain if vote just about economy (Reuters)

September 9, 2010 at 6:56 AM

Reuters - President Barack Obama on Wednesday warned his Democrats risk punishment in November's congressional elections if the vote is just about the performance of the U.S. economy.

More stimulus needed for economy: Geithner (Reuters)

September 9, 2010 at 6:43 AM

Reuters - Treasury Secretary Timothy Geithner said on Wednesday the United States needed more incentives to stimulate job growth and bolster a slow recovery from a "savage" recession.

Wind-whipped fires add to Detroit's economic woes (AP)

September 9, 2010 at 6:28 AM

Summary Box: More places see slower growth (AP)

September 9, 2010 at 6:06 AM

AP - ECONOMY LOSES SPEED: A Federal Reserve survey found "widespread signs" that economic growth had slowed in the late summer.

Highlights from the Fed's latest economic survey (AP)

September 9, 2010 at 5:53 AM

AP - Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.

A look at economic developments around the globe (AP)

September 9, 2010 at 4:36 AM

AP - TOKYO — Japan's machinery orders, a key gauge of future business investment, rose the most in seven months, a sign that companies are more confident in the economic recovery.

Geithner: U.S. scarred by "savage" recession (Reuters)

September 9, 2010 at 4:28 AM

Reuters - Treasury Secretary Timothy Geithner said on Wednesday the United States is recovering slowly from a "savage" recession that has caused deep job cuts and a loss of confidence.

Fed report shows widespread signs growth easing (Reuters)

September 9, 2010 at 3:45 AM

Reuters - The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting that while the recovery has been faltering, the economy may skirt a second recession.

Consumers cut back on credit card use once again (AP)

September 9, 2010 at 3:34 AM

AP - Consumer borrowing fell again in July as households cut back on their credit card use for a 23rd consecutive month, adding more drag on an economy struggling to mount a sustained rebound.

Obama tells Ohio audience of own family struggles (AP)

September 9, 2010 at 3:13 AM

AP - President Barack Obama is getting a little personal about the sluggish economy, telling a Cleveland audience about his own family's struggles and hardships.

(AP)

September 9, 2010 at 3:00 AM

AP - Consumer borrowing falls again in July as credit card use falls for 23rd straight month.

Fed survey sees slower growth in East and Midwest (AP)

September 9, 2010 at 2:45 AM

AP - The economy lost strength in late summer as factory production weakened in areas of the East Coast and Midwest.

Fidel Castro says Cuban model no longer works (Reuters)

September 9, 2010 at 2:28 AM

Reuters - Fidel Castro said Cuba's economic model no longer works, a U.S.-based journalist reported on Wednesday following interviews with the former president last week.

Summary Box: Canada ups key interest rate to 1 pct (AP)

September 9, 2010 at 2:26 AM

AP - BANK OF CANADA UPS KEY RATE: Canada's central bank raised its benchmark interest rate by a quarter point to 1 percent, after similar moves in June and July.

Fed sees 'widespread' signs US economy is slowing (AFP)

September 9, 2010 at 2:14 AM

AFP - The US economy is showing "widespread" signs of deceleration, the US Federal Reserve warned in its latest Beige Book report published Wednesday.

Hungary won't seek to renew IMF, EU loans (AP)

September 9, 2010 at 1:04 AM

AP - Hungary will not seek any more loans from the International Monetary Fund or the European Union and will be able to meet its financing needs by selling bonds to international and domestic investors, Economics Minister Gyorgy Matolcsy said Wednesday.

Panel examining recession's causes meets in Vegas (AP)

September 9, 2010 at 12:41 AM

AP - A federal commission is taking testimony in Las Vegas as part of its national effort to examine causes for the financial meltdown that led to the Great Recession.

Debit rules bigger risk for Visa than MasterCard (AP)

September 9, 2010 at 12:05 AM

AP - Payment processors Visa Inc. and MasterCard Inc. face uncertainty as the Federal Reserve begins crafting the new rules for debit card fees called for in the financial reform legislation. But Visa has more debit risk than MasterCard because it dominates the U.S. market, a Citi analyst said Wednesday.

Hillary Clinton on America's future: US retains role as world leader (The Christian Science Monitor)

September 8, 2010 at 11:58 PM

The Christian Science Monitor - Secretary of State Hillary Rodham Clinton sought Wednesday to paint a picture of a 21st-century world where the United States remains the preeminent leader â€" though less as a result of unrivaled economic and military might than through new and reinvigorated partnerships.

Economists further scale back U.S. growth outlook (Reuters)

September 8, 2010 at 10:41 PM

Reuters - Stubbornly high unemployment and signs of persistent weakness in the housing market have prompted economists to further cut their outlook for U.S. growth in the second half of the year, a Reuters poll showed on Wednesday.

Wall Street up as fears for European economy ease (AFP)

September 8, 2010 at 10:24 PM

AFP - US stocks were slightly up on Wednesday after news of a successful Portuguese debt auction eased the previous day's concerns about the European economy.

Obama to challenge Republican foes on economy (AFP)

September 8, 2010 at 9:25 PM

AFP - US President Barack Obama Wednesday threw down the gauntlet to Republicans on the economy, as the lagging recovery and crippling unemployment threaten Democrats with a mid-term election meltdown.

PriceSmart's revenue increase in August (AP)

September 8, 2010 at 8:57 PM

AP - PriceSmart Inc.'s revenue climbed in August as customers continued to seek bargains on basic items at the company's warehouse clubs amid a soft economy.

GOP proposes renewing tax cuts, freezing spending (AP)

September 8, 2010 at 7:32 PM

AP - House Republican Leader John Boehner onWednesday proposed a two-year freeze on all tax rates and a cut in government spending to the levels of 2008, before a deep recession took hold of the economy.

Republican leader urges 2-year freeze on tax rates (Reuters)

September 8, 2010 at 7:27 PM

Reuters - U.S. House of Representatives Republican leader John Boehner called on Wednesday for a two-year freeze on all current U.S. tax rates, including Bush-era tax cuts for the rich set to expire at the end of this year.

Home buying up in week, but down 40 percent in year (Reuters)

September 8, 2010 at 7:18 PM

Reuters - Americans applied to buy homes at the highest pace last week since May, but more than 8 of every 10 loan requests was for a refinancing, Mortgage Bankers Association data show on Wednesday.

Obama to pitch trio of economic proposals (AP)

September 8, 2010 at 3:14 PM

AP - President Barack Obama is pitching a trio of economic proposals Wednesday in an effort to show the public he's taking action to spur economic growth.

Japan machinery orders up 8.8 percent in July (AP)

September 8, 2010 at 2:58 PM

AP - Japan's machinery orders, a key gauge of future business investment, rose the most in seven months, a sign that companies are more confident in the economic recovery.

German exports slightly lower on month in July (AP)

September 8, 2010 at 2:21 PM

AP - Official data show that German exports dipped by 1.5 percent in July compared with the previous month but were still up a strong 18.7 over the same month last year.