Small business owners are still whittling away at their payroll, but the deluge of pink slips on Main Street is slowing down.
Despite millions of unemployed job seekers desperate for work, many open positions are languishing unfilled. The reason? Not enough candidates.
The nation's unemployment rate rose above 10% for the first time since 1983 in October, a much worse jump than expected as employers continued to trim jobs from payrolls.
The dollar and yen rose Friday after a report showed the U.S. unemployment rate spiked and the economy lost more jobs than expected, stoking concerns about the U.S. economy and restoring safe-haven demand for both currencies.
Treasury prices were higher Friday after the government reported that unemployment spiked to 10.2% -- its highest level since April 1983.
I don't know about you, but I don't have a spare $101,900 stuffed under my couch cushions to buy an "A" share of Warren Buffett's Berkshire Hathaway. I probably could scrounge together $3,395 for one "B" share, but I would rather not.
The 650,000 jobs created or saved by the stimulus package so far make up only a small step toward correcting the gap between the tens of millions of unemployed people and the few openings that those people are fighting over.
The push to overhaul health care received a major boost Thursday as the American Medical Association and AARP endorsed legislation drafted by top House Democrats.
U.S. stocks were set to fall Friday after the government reported higher-than-expected payroll losses for October and an increase in unemployment.
Fannie Mae, the largest provider of funding for U.S. home loans, said on Thursday bad mortgages and a federal foreclosure prevention program left it with a $18.9 billion loss, forcing it to tap the Treasury again to plug a hole in its net worth.
Small business owners are still whittling away at their payroll, but the deluge of pink slips on Main Street is slowing down.
Despite millions of unemployed job seekers desperate for work, many open positions are languishing unfilled. The reason? Not enough candidates.
The nation's unemployment rate rose above 10% for the first time since 1983 in October, a much worse jump than expected as employers continued to trim jobs from payrolls.
The dollar and yen rose Friday after a report showed the U.S. unemployment rate spiked and the economy lost more jobs than expected, stoking concerns about the U.S. economy and restoring safe-haven demand for both currencies.
Treasury prices were higher Friday after the government reported that unemployment spiked to 10.2% -- its highest level since April 1983.
I don't know about you, but I don't have a spare $101,900 stuffed under my couch cushions to buy an "A" share of Warren Buffett's Berkshire Hathaway. I probably could scrounge together $3,395 for one "B" share, but I would rather not.
The 650,000 jobs created or saved by the stimulus package so far make up only a small step toward correcting the gap between the tens of millions of unemployed people and the few openings that those people are fighting over.
The push to overhaul health care received a major boost Thursday as the American Medical Association and AARP endorsed legislation drafted by top House Democrats.
U.S. stocks were set to fall Friday after the government reported higher-than-expected payroll losses for October and an increase in unemployment.
Fannie Mae, the largest provider of funding for U.S. home loans, said on Thursday bad mortgages and a federal foreclosure prevention program left it with a $18.9 billion loss, forcing it to tap the Treasury again to plug a hole in its net worth.
When the U.S. dollar gained ground on the Euro and other currencies last year, glossy travel magazines celebrated the affordability of once-pricey locales. Cheap lattes in Paris!
Is the Fed about to hit the brakes on the Wall Street gravy train?
The Federal Open Market Committee in its statement November 4 left unchanged the language that its ultra-low rates would be kept for "an extended period". By not even signaling an end to the current era of easy money, the central bank runs the risk of further inflating asset and commodity prices and sinking the dollar.
Despite much hope that Americans are finally thawing out of their year-long self-imposed shopping freeze, store sales last month were good in pockets -- but not great, as many analysts were hoping.
The number of Americans filing for initial unemployment insurance fell last week, the government said Thursday, with a total figure that was below analysts' expectations.
The Bank of England expanded its quantitative easing program by £25 billion, or $41 billion, to £200 billion on Thursday, continuing its unprecedented scheme to revive Britain's recession-hit economy.
The dollar and the yen gained broadly Thursday as the euro and perceived higher risk currencies succumbed to profit-taking ahead of a policy decision by the European Central Bank.
Question: I'm nearing retirement, but would like to continue investing in stocks and bonds. My question: Should retirees continue to put money into the markets even after they have retired? --Lee Benge, Charlotte, North Carolina
Stocks ended mixed Wednesday, giving up bigger gains after the Federal Reserve kept interest rates unchanged and said it will keep them low for an extended period.
The Federal Reserve kept its key interest rate near zero once again Wednesday. It added in a statement that although the economy continues to improve, it intends to stay the course in recent months.
Government debt was mixed on Wednesday after the Fed said it would keep interest rates near zero and scale back the amount of debt it is buying.
Oil prices stayed above $80 a barrel Wednesday as a government report showed a surprise drop in crude inventory.
Gold pared gains Wednesday after hitting an all time high, but still settled at record levels after the Federal Reserve's latest policy statement came in as expected.
This statement was posted on the Federal Reserve Web site on Nov. 4, 2009:
The dollar fell Wednesday as a rally on Wall Street undermined demand for the greenback as a safe haven.
The number of Americans filing personal bankruptcies surged 9% in October and were on target for the highest annual total in four years, according to a report issued Wednesday.
A recent report that Galleon investigators have subpoenaed a former SAC Capital Advisors employee shows that the scandal's tentacles are maybe reaching farther and farther.
Dear Annie: I enjoyed your Sept. 30 column, and readers' comments, about how to decide whom to "friend" on Facebook. I recently joined LinkedIn, which I have heard is a terrific job-search tool, but I could really use some pointers on how to make the most of it. (I lost my old job about six weeks ago and, while my severance pay will last another couple of months, I need to step up my job hunt.)
The nation's employment picture continued to deteriorate in October, although the rate of decline continued to slow, according to two reports issued Wednesday.
According to the Bureau of Labor Statistics, 36 percent of unemployed people --or 5.4 million -- had been without a job for 27 weeks or more in September 2009.
Major automakers reported Tuesday that their October sales rebounded following a weak September, as an increase in the number of cars available at dealers helped to get sales moving once again.
Oil erased earlier losses and gained on Tuesday as investors responded to Warren Buffett's $44 billion investment in U.S. railway operator Burlington Northern Santa Fe.
Gold prices surged to a record high Tuesday after the International Monetary Fund said it had sold 200 metric tons of the precious metal to India's central bank.
Bond prices were mixed on Tuesday afternoon as investors await a statement from the Federal Reserve on monetary policy due Wednesday and monthly jobs data due Friday.
Stimulus may have created or saved 640,000 jobs so far, but many of those positions were never intended to last.
It's getting to be that time of year again: The leaves change, the temperature drops, and we redecorate our living rooms, desks, cars, and backpacks with shiny new electronics.
U.S. stocks were set to slide at Tuesday's open, as investors remained on edge at the start of the Federal Reserve's two-day policy meeting.
The dollar and yen fell Monday in volatile trading as steady stocks and data showing further evidence of an economic recovery around the world dampened safe-haven demand for the U.S. and Japanese currencies.
U.S. Treasurys fell Monday after stronger-than-expected data on manufacturing, construction and home sales spurred hopes of a solid economic recovery and dented demand for safe-haven U.S. debt.
The number of signed sales contracts to buy homes rose in September for the eighth straight month, according to a real estate industry report released Monday.
Now that we're officially (if barely) out of the Great Recession, it's time for our nation's elected officials to get down to serious business -- that of taking credit, assigning blame, and calling each other liars.
Despite losses in their own investments, 65% of grandparents plan to help their grandkids pay for college, reports the College Savings Foundation. That may spell relief for parents squeezed by the economy. But handled incorrectly, such giving could hurt your child's chances for financial aid, says Joe Hurley of savingforcollege.com. Here are the best ways for Grandma to give.
World stocks added to the previous week's losses on Monday, hugging one-month lows as investors pulled back from a more than seven month rally and prepared for the eventual withdrawal of stimulative monetary policy.
Out: credit cards. In: debit cards. As more and more Americans shun traditional credit cards, they're turning to debit cards. But you should know there are downsides to debit cards too.
Want a loan for your business? Hit the plastic. That's about all banks are going to offer -- and the terms are much less favorable than traditional lines of credit.
The largest stimulus program in the nation's history has created or saved just over 640,000 jobs, the Obama administration said Friday.
The dollar and yen rallied Friday as a sharp selloff in the stock market and uncertainty about the economy boosted safe-haven demand for the U.S. and Japanese currencies.
The government is finding no shortage of willing buyers for its debt as the shaky economy continues to spur demand for safe haven assets.
The economy is growing again. So when are the jobs that go with growth going to get here?
In the coming weeks, Congress will attempt to forge a health care bill from proposals developed by five House and Senate committees.
A growing number of Americans are becoming aware of the Federal Reserve System, what it is, how it has precipitated our financial crisis, and how it continues to pursue policies that delay economic recovery and weaken the dollar.
The dollar fell against the euro on Thursday, ending a four-day advance, after the U.S. economy grew more than expected in the third quarter, sending investors back into riskier assets.
Sales of newly built homes fell unexpectedly in September after rising for five straight months, according to government figures released Wednesday.
Oil rose nearly $3 to top $80 a barrel Thursday after news that the U.S. economy returned to growth in the third quarter, reviving expectations of an increase in fuel consumption.
Not even Franz Kafka could have dreamed this one up.
Companies that have invested in Mexico could be affected if the Mexican congress approves a change that would put an end to tax benefits that allow businesses to consolidate their earnings and losses, in order to pay less taxes, said specialized foreign trade consultant firm IQOM. The changes proposed by the federal government are being analyzed by Congress and could be incompatible with expropriation rules under the North American Free Trade Agreement (NAFTA) that Mexico, Canada and the United States have had since 1994.
Confused about whether lawmakers will extend the $8,000 first-time homebuyer credit and what it would look like?
Now that the economy has broken its four-quarter long slump, will Federal Reserve chairman Ben Bernanke be more open to the idea of raising interest rates sometime soon?
The U.S. economy grew at a 3.5% annual rate in the third quarter, ending a string of declines over four quarters that resulted in the most severe slide since the Great Depression. But some economists raised doubts about how long such strong growth can last.
The number of Americans filing for initial unemployment insurance were little changed last week, the government said Thursday, with a total figure that missed analysts' expectations.
The economy may get a good report card Thursday for the first time in a long time.
The dollar and yen gained Wednesday as concerns about a global economic recovery and steep losses in Wall Street stocks boosted safe-haven appeal.
Oil fell more than 2% Wednesday on worries about demand in the world's largest fuel consumer after data showed a surprise build in U.S. gasoline inventories and weak U.S. new home sales.
Nearly half of U.S. workers who left their job last year cashed out their 401(k) accounts, according to a study released Wednesday, despite ongoing efforts to dissuade Americans from doing so.
Detroit continued to lead the nation's cities of 1 million people or more with the highest unemployment rate in September, according to government figures released Wednesday.
While foreclosure rates are easing in some of the hardest-hit cities, the crisis is beginning to expand into new metro areas.
While there has been some excitement in the courtroom itself during the first few weeks of the federal criminal trial of Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin, the real action in the trial so far seems to be taking place in and around a small bank in Florida that had nothing to do with the original conspiracy and the fraud charges filed against the two men in June 2008.
Mortgage applications fell last week for the third week in a row, even as interest rates edged lower, an industry group said Wednesday.
The dollar rose to a two-week high against the euro Tuesday after a report showing U.S. consumer confidence deteriorated sharply in October boosted the greenback's safe-haven appeal.
As small business lending continues to dry up, the federal government is readying two new initiatives aimed at reversing the trend. To unveil them, President Obama traveled Wednesday to Maryland, where he visited a family-owned company that used a government-backed loan to fund a recent expansion.
Home prices rose for the fourth month in a row during August and suffered a smaller-than-expected annual drop, according to a report issued Tuesday.
A key measure of consumer confidence continued to slip in October, with consumers' gauge of the current economic situation falling to a 26-year low, a research group said Tuesday.
Question: I'm 47 years old and would like to begin participating in my company's 401(k) plan. But I don't know if this is the right time to do so. Do you think I should start now or wait until the economy gets better? --Frank, Brighton, Mass.
Did you make bubble-era investments that left you so far underwater you needed a submarine? If so, you've got company. Gather round, and I'll show you how some of the smartest and richest folks in America lost more than half a billion dollars by buying into the commercial real-estate bubble in the summer of 2007.
Treasurys fell Monday after the government kicked off a record weekly offering of $123 billion in U.S. debt.
The U.S. dollar rose broadly Monday, rebounding from a 14-month low against the euro as falling stock and commodity prices prompted investors to lock in recent gains in other currencies.
Dole Food's initial public offering didn't go so well. The world's largest fresh fruit and vegetable company priced its deal below the anticipated offering range -- it then promptly wilted.
It's beginning to look a lot like Christmas in October for online retailing stocks. Christmas 1999, that is.
Dear Annie: I graduated from college with a civil engineering degree last spring, and I'm planning to go to architecture school. I want to focus my training on learning how to retrofit existing buildings and power plants to be more energy-efficient.
Gasoline prices jumped nearly 18 cents over the past two weeks, the first two-week rise since early August, according to a survey published Sunday.
The dollar and euro soared against sterling Friday after data showing the U.K. economy was still mired in recession stunned investors who had expected it to return to growth.
In the end, pay czar Kenneth Feinberg's hardest case was AIG.
U.S. Treasury debt prices eased Friday as investors maneuvered to cut prices ahead of next week's record-large wave of government notes supply.
Federal Reserve chairman Ben Bernanke said Friday that the turmoil in the financial system is "abating," but urged lawmakers to enact comprehensive reforms to help prevent future crises.
Sales of existing homes rebounded sharply in September to their highest level in two years, getting a strong boost from first-time homebuyers, according to a report released Friday.
When last week the federal government arrested Raj Rajaratnam of the Galleon Group for masterminding a $25 million insider-trading ring, the biggest head-scratcher was the inclusion of Anil Kumar in the government's complaint.
Washington launched its biggest offensive yet against Wall Street pay practices Thursday, taking aim at everyone from senior executives to high-flying traders of complex securities.
Blue chips led a bigger stock market rally Thursday, as better-than-expected results from four components pushed the Dow industrials above 10,000 again and reassured investors about the ongoing corporate reporting period.
The dollar rose broadly Thursday as most investors bet the greenback's recent sharp slide against major currencies had gone too far, too fast.
The Obama administration's pay czar is imposing tough cuts on 175 big earners -- but many on Wall Street are still on track for a banner payday.
House Speaker Nancy Pelosi said Thursday that Congress is set to consider a measure increasing the amount of money the federal government can lend to small businesses.
When the FDIC closed Chicago's Corus Bank last month, it may have signaled the beginning of the next shock to the banking system: commercial real estate defaults.
The number of first-time filers for unemployment insurance rose last week, snapping two weeks of significant declines, according to a government report issued Thursday.
Jason and Patty Simkins, both 40, have saved next to nothing for retirement in the past year. They were rattled by the rocky market, which caused the value of their portfolio to tumble 40% at its low point.
Stocks tumbled Wednesday afternoon, after influential analyst Richard X. Bove downgraded his rating on Wells Fargo, sparking a steep selloff in the banking sector.
Bond prices fell Wednesday after the Federal Reserve released its latest report showing signs of a stabilizing economy.
The dollar slumped Wednesday, with the euro rising above $1.50 for the first time in 14 months, as optimism about the global economic recovery boosted demand for higher yielding currencies.
If you're a beef-eating, beer-guzzling, pick-up driving resident of heartland America, there's a good chance you escaped the housing bust. But pesto-chomping, chardonnay-sipping, hybrid-driving city-slickers were probably out of luck.
The economy has shown signs of stabilizing or modestly improving in recent weeks, according to the latest Federal Reserve snapshot of regional economic conditions.
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