Morgan Stanley's profits jump but Goldman Sachs's fall
2014-04-18 21:26:57 UTC
<h3>US banking giants Goldman Sachs and Morgan Stanley have reported contrasting results for the first quarter of the year.</h3>Goldman Sachs' net earnings fell to $2.03bn from $2.26bn after a drop in revenues from its bonds, currency and trading ...
IMF were "deeply disappointed" if US Congress failure to act
2014-04-13 01:03:47 UTC
The 188-country International Monetary Fund concluded weekend meetings with pledges to work toward faster growth that will alleviate still-high unemployment.
The United States came in for criticism in that statement.
It said officials were "de...
U.S. Global Growth Engine Putt-Putts Instead of Purring
2014-04-11 16:29:07 UTC
The U.S. is resuming its role as an engine of global growth, this time one that just putt-putts along instead of purring.
As the International Monetary Fund declares the strengthening U.S. economy is providing a “major impulse” to the world, ec...
Obama Banks on Sebelius Leaving to Take Heat Off Party
2014-04-11 16:13:26 UTC
The departure of Kathleen Sebelius from President Barack Obama’s cabinet removes a focal point for criticism over Obamacare’s troubled rollout, right at a moment when the White House can blunt attacks with enrollment numbers that exceeded targets....
California Ranked Lowest in Government Data Access Study
2014-04-09 08:41:02 UTC
California, the U.S. state with the largest population and budget, offers the least website access to its government spending data, according to an analysis by the New Jersey Public Interest Research Group.
Alaska and Idaho also got failing gra...
Unemployment insurance: Boehner may not allow vote on Bill
2014-04-09 09:31:30 UTC
A bipartisan attempt to restore unemployment insurance to more than two million out-of-work Americans appeared likely to fall victim to deadlock in Congress on Tuesday.
The Senate passed legislation on Monday night that would temporarily extend...
Obama healthcare 'here to stay'
2014-04-02 07:21:20 UTC
US President Barack Obama says his embattled signature healthcare programme is "here to stay" after more than 7 million Americans signed up.
He told reporters the law, nicknamed Obamacare, represented progress and benefitted the economy.
Oil slightly lower ahead of US stockpiles report
2014-03-19 06:37:57 UTC
The price of oil was down slightly Wednesday as energy markets waited for the latest figures on U.S. crude and fuel stockpiles.
Benchmark U.S. crude for April delivery was down 20 cents at $99.50 a barrel at 0605 GMT in electronic trading on th...
Yellen to enter spotlight as new leader of Fed
2014-03-19 06:32:08 UTC
WASHINGTON (AP) — Investors will be watching closely Wednesday for any hints of how a Janet Yellen-led Federal Reserve might differ from the path set by her predecessor, Ben Bernanke.
The Yellen era will begin in earnest when the Fed ends two d...
US factory output rose in Feb. by most in 6 months
2014-03-17 18:16:12 UTC
WASHINGTON (AP) — U.S. factory output rebounded strongly in February after harsh winter storms caused a steep drop-off in production in January. Manufacturers produced more autos, home electronics and chemicals.
The Federal Reserve said Monday ...
US producer prices dip 0.1 percent in February
2014-03-14 17:28:14 UTC
WASHINGTON (AP) — The prices companies receive for their goods and services fell slightly in February, the latest sign that inflation is tame.
The producer price index, which measures price changes before they reach the consumer, dropped 0.1 pe...
Boehner questions Senate unemployment deal
2014-03-14 17:23:46 UTC
WASHINGTON (AP) — House Speaker John Boehner questioned the feasibility of a bipartisan Senate deal to renew expired benefits for the long-term unemployed, a remark that seemed to suggest the agreement could be in trouble in the House.
Oil falls to around $101 after China, Japan data
2014-03-10 16:31:40 UTC
The price of oil sunk to around $101 on Monday after a surprise drop in China's exports and weaker economic growth in Japan suggested demand for crude could weaken.
By early afternoon in Europe, benchmark U.S. crude for April delivery was down ...
US job gain despite freeze raises economic hopes
2014-03-08 10:03:56 UTC
WASHINGTON (AP) — Brutal winter weather snarled traffic, canceled flights and cut power to homes and factories in February. Yet it didn't faze U.S. employers, who added 175,000 jobs, far more than the two previous months.
Modest but steady job ...
House backs bill to delay health care penalty
2014-03-05 21:21:14 UTC
WASHINGTON (AP) — The House on Wednesday backed a one-year delay in the penalty that individuals would have to pay for failing to sign up for health insurance, the 50th time Republicans have forced a vote to repeal, gut or change the law champione...
Netanyahu and Gov. Brown sign pro-business pact
2014-03-05 20:40:30 UTC
MOUNTAIN VIEW, Calif. (AP) — Israeli Prime Minister Benjamin Netanyahu made a swing through the Silicon Valley to meet with high-tech leaders and sign a pro-business agreement with Gov. Jerry Brown.
During a meeting at the Computer History Muse...
Obama to appeal to Democrats in 2015 budget
2014-03-03 22:13:27 UTC
WASHINGTON (AP) — President Barack Obama is releasing a new budget plan that strives for unity among Democrats rather than compromise with Republicans, dropping cuts to Social Security and seeking more money for infrastructure, education and job t...
US home prices dip for second straight month
2014-02-25 21:56:50 UTC
WASHINGTON (AP) — U.S. home prices fell for the second straight month in December as brutally cold weather, tight supply and higher costs slowed sales.
The Standard & Poor's/Case-Shiller 20-city home price index declined 0.1 percent from Novemb...
NABE economists divided over pace of Fed tapering
2014-02-24 10:41:19 UTC
WASHINGTON (AP) — Business economists are almost equally divided over whether the Federal Reserve will pare back bond purchases at the current pace through year's end or take a small breather to let the economy recover further.
The views were u...
Obama budget to drop benefit cost-of-living trims
2014-02-21 08:59:31 UTC
WASHINGTON (AP) — President Barack Obama will propose an election-year budget that would drop reductions he had previously embraced in federal benefits, officials disclosed Thursday. He also will ask Congress to approve about $56 billion in new or...
Budget office: Wage hike would lift pay, cost jobs
2014-02-19 07:59:48 UTC
WASHINGTON (AP) — Boosting the federal minimum wage as President Barack Obama and congressional Democrats are proposing would increase earnings for more than 16.5 million people by 2016 but also cut employment by roughly 500,000 jobs, Cong...
Obama, fellow Dems are at odds on big trade bills
2014-02-19 07:53:17 UTC
WASHINGTON (AP) — President Barack Obama wants to put major emerging trade deals with Europe and Asia on a "fast track" to congressional passage. But with midterm elections looming, many fellow Democrats are working to sidetrack them inste...
White House: Stimulus bill was good for economy
2014-02-18 06:40:29 UTC
RANCHO MIRAGE, Calif. (AP) — The costly $787 billion spending bill that President Barack Obama signed into law soon after taking office boosted the economy and helped avoid another Great Depression, the White House said in a status report on M...
Kickstarter says hackers got customer data
2014-02-17 06:37:21 UTC
Online fundraising site Kickstarter says hackers got some of its customer data.
Kickstarter co-founder Yancey Strickler said in a blog post that hackers accessed usernames, email addresses, phone numbers and passwords. The passwords are...
Obama signs debt ceiling measure into law
2014-02-16 07:49:11 UTC
RANCHO MIRAGE, Calif. (AP) — President Barack Obama on Saturday signed separate measures into law to lift the federal debt limit and restore benefits that had been cut for younger military retirees.
Obama signed the bills during a weekend...