US economy – News Stories About US economy - Page 28

Jan 11, 2008 8:45 AM CST

Economists Say Recession Risk Rising

Cumulative troubles mounting; most see a Dem in the White House

(Newser) - The odds of a recession hitting the US are rising as the cumulative effects of soaring energy costs, a flailing job market, and a dogged housing slump put the brakes on the economy, predicts a panel of economists in the Wall Street Journal today. Those economic woes, they say, are...

Bernanke Hints at Hefty Interest Rate Cuts

Jan 10, 2008 1:30 PM CST

Bernanke Hints at Hefty Interest Rate Cuts

Fed hopes to thwart troubled markets, unemployment

(Newser) - The Federal Reserve may make "substantive" cuts to interest rates later this month in the face of rising economic difficulties, Ben Bernanke said today. Citing troubled financial markets and rising unemployment, the Fed chairman implied that it might drop its target short-term interest rate by .5% from 4.25%....

Goldman Predicts Recession

Jan 10, 2008 12:31 PM CST

Goldman Predicts Recession

Wall Street's top firm sees two unhappy quarters ahead

(Newser) - Goldman Sachs is predicting that the economy will slide into a recession this year—which has Wall Street worried, because Goldman’s been right about everything else. The investment firm forecasts a mild pullback extending over two quarters, driving up already-growing unemployment. “If we don't get job growth we...

Bush May Again Push Tax Breaks

Jan 9, 2008 12:13 PM CST

Bush May Again Push Tax Breaks

Economic stimulus plan likely to be part of State of the Union address

(Newser) - Tax relief for individuals and businesses are on the table as President Bush seeks to address recession fears, the Wall Street Journal reports. A rebate of $500 for individuals is under consideration, sources said, as is a plan to allow businesses to deduct investment in equipment. Bush is expected to...

Harder Times Make for
Hungry Horses

Jan 8, 2008 12:42 PM CST

Harder Times Make for Hungry Horses

Collapse in equine market leads to rise in neglect of animals

(Newser) - When the sun was shining on the economy, millions of Americans tried to make hay by buying horses and moving into backyard breeding. As things slow down, the animals are getting harder to sell and pricier to feed, making horse neglect and abandonment a big problem, the Wall Street Journal...

Bush Cops
to Economic Uncertainty

Jan 8, 2008 6:00 AM CST

Bush Cops to Economic Uncertainty

Without uttering the 'R word,' prez allows, 'Americans are anxious'

(Newser) - Rising oil prices, a crashing job market, and a tenacious mortgage crisis have created “economic challenges” for the US, President Bush said in Chicago yesterday, a shift from his insistence that the economy is fundamentally strong. While acknowledging “Americans are anxious about the economy,” Bush stopped short...

Paulson Calls for More Housing Relief

Jan 7, 2008 9:17 PM CST

Paulson Calls for More Housing Relief

Treasury secretary suggests aid for prime-rate borrowers

(Newser) - Treasury Secretary Henry Paulson advised the mortgage industry today to give help to millions of financially stressed homeowners whose mortgages are set to rise. His comments signal that the Bush administration is starting to push lenders to expand relief beyond subprime borrowers to homeowners with other adjustable-rate loans, reports the...

Starbucks Founder Back
in CEO Saddle

Jan 7, 2008 7:45 PM CST

Starbucks Founder Back in CEO Saddle

Will pare back coffee giant after sales stall and stocks tumble

(Newser) - Starbucks reacted to slow sales and new competition today by bringing back founder Howard Schultz as CEO, replacing folksy chief exec Jim Donald. "We must address the challenges we face and we know what has to be done," Schultz said. Schultz vows to reignite sales by trimming back...

Unemployment Rises,
May Spur Rate Cut

Jan 4, 2008 9:03 AM CST

Unemployment Rises, May Spur Rate Cut

Weak jobs data makes Fed action likely

(Newser) - The labor market took a hit in December, with the jobless rate hitting a two-year high and payroll increases falling well short of predictions. Nonfarm payrolls rose just 18,000, much less than both November’s 115,000 and the 50,000 prognosticators expected. The gloomy numbers increase the odds...

Ford Sales Slump in December

Jan 3, 2008 1:15 PM CST

Ford Sales Slump in December

Light-vehicle sales down 9% over Dec. '06, and off 12% for all of 2007

(Newser) - Ford Motor Co. reported a 9% dip in US sales of cars and light trucks between last December and December 2007, capping off a dismal year for the company and the auto industry, the Wall Street Journal reports. Ford, which is third in US auto sales behind Toyota and leader...

Fed Remains Open to More Rate Cuts

Jan 2, 2008 7:33 PM CST

Fed Remains Open to More Rate Cuts

Minutes from last meeting display growing concern about markets

(Newser) - Fed officials will consider deeper rate cuts and a "substantial further easing of policy" if the turmoil in the credit and housing markets continues, according to minutes of last month's meeting. Officials displayed surprise at the extent of the housing crisis and acknowledged that market strains "could persist...

E-Commerce All Grown Up, Sales Growth Finally Slows

Dec 28, 2007 8:39 PM CST

E-Commerce All Grown Up, Sales Growth Finally Slows

Internet sales set new records, but rise more slowly than last year

(Newser) - Online sales continued to out-pace traditional retailers this season, boasting a 19% spike, but fell compared to 25-30% growth rates in past seasons, the New York Times reports. While e-tailers beat the scrawny 3.6% sales growth of traditional stores, experts attribute the slowdown to the maturing of online shopping.

Venture Capitalists Predict Rebound After 2008

Dec 28, 2007 2:49 PM CST

Venture Capitalists Predict Rebound After 2008

VCs support Clinton over Giuliani

(Newser) - After gazing into its crystal ball this month, the National Venture Capital Association has come up with a picture of a bullish post-2008, post-election future. In the prediction, the new President Clinton manages a still-reeling economy as the number of VC firms wanes and the size of the funds they...

Quality Boosts US Exports

Dec 26, 2007 12:55 PM CST

Quality Boosts US Exports

Experts credit weak dollar, manufacturing know-how for surge

(Newser) - The sinking dollar is fueling a booming export market in tractors, medical equipment, and electrical machinery, helping some US manufacturers overcome a falloff in domestic sales, reports the Washington Post. The trend may even help reduce the trade deficit: For 2007, US exports are projected to increase even more than...

Art Market Sails Over Turmoil

Dec 26, 2007 6:01 AM CST

Art Market Sails Over Turmoil

Weak dollar, overseas buyers help keep prices high

(Newser) - US financial markets were in chaos this year, but the art market certainly wasn't. The expanding ranks of the super-rich, the weak dollar, and emerging connoisseurs from Russia, China, India, and the Middle East kept auction houses in fine form, the AP reports, with postwar and contemporary works—including a...

Citing US Troubles, Illegal Immigrants 'Self-Deport'

Dec 25, 2007 10:04 PM CST

Citing US Troubles, Illegal Immigrants 'Self-Deport'

Immigrants face tougher law enforcement and worsening economy

(Newser) - More illegal immigrants in the US are "self-deporting" back to their home countries in the face of stricter immigration enforcement and a worsening economy, Reuters reports. "The situation has got so tough that there don't seem to be many options left for us," said a Mexican immigrant....

Late Shoppers Spread Some Holiday Cheer

Dec 25, 2007 7:30 AM CST

Late Shoppers Spread Some Holiday Cheer

But not enough to rescue some slumping retailers

(Newser) - Shoppers swarmed in a last-minute buying binge that will help most, but not all, retailers make the season’s sales projections. For the week ended Saturday sales rose 33% over a year ago and for the final weekend of the season were up 18.7%, reports the Los Angeles Times....

2007: Asia's Banner Year

OPINION

Dec 24, 2007 2:19 PM CST

2007: Asia's Banner Year

Bloomberg praises those who fuel the region's return to economic power

(Newser) - Asia's economies are soaring so mightily that Bloomberg columnist William Pesek is passing out awards for Asia's big players in 2007. They range from a “Money Talks” prize, for Arab and Asian leaders who bailed out Wall Street banks, to the “Howard's End” trophy, for Australian PM Kevin...

Weaker Dollar Revamps World Economy

Dec 24, 2007 11:04 AM CST

Weaker Dollar Revamps World Economy

Americans lose pride, buying power, but gain jobs and sales abroad

(Newser) - A declining US dollar is sparking changes worldwide, drawing jobs to the States and spurring sales of US goods, but also ending an age of rich Americans abroad and hurting economies that are pegged to the note. Its 7-year, 40% drop against the Euro is no short-term slide either, experts...

Retailers Slash Prices to Boost Slumping Season

Dec 23, 2007 6:43 PM CST

Retailers Slash Prices to Boost Slumping Season

Plagued by high gas and food prices, shoppers hold out for bargains

(Newser) - Retailers slashed prices nationwide this weekend in a bid to draw last-minute shoppers and lift a slumping holiday season, Bloomberg reports. Pressed by high gas and food prices, consumers are holding out for zero-hour deals; retailers have obliged with half-off sales and extra hours, counting on the last days before...