economy

Stories 741 - 760 | << Prev   Next >>

Home, Retail Sales Keep Sliding
 Home, Retail Sales Keep Sliding 
May 13, 2008 11:36 AM CDT

Home, Retail Sales Keep Sliding

Retail decline due mainly to big autos drop; foreclosures depressing housing values

(Newser) - The housing market continued to plunge in the first quarter of 2008, as single-family sales dropped 22% from their year-ago pace, to 4.95 million annually. Bloomberg reports that the median home price is off 7.7% from a year ago, to $196,300, as foreclosed properties drag down values....

No Rebates for Immigrant Taxpayers—or Yank Spouses

Caught in rules designed to cut illegal immigrants

(Newser) - Hundreds of thousands of legal, taxpaying immigrants and their Americans spouses are among the unhappy few who won’t be getting a tax rebate check, AP reports. Taxpayers need a Social Security number to qualify—a rule intended to carve out illegal immigrants. Also inadvertently cut from the benefit are...

US Woes Drive Toyota Profits Down 28%
 US Woes Drive
 Toyota Profits
 Down 28% 
Earnings report
May 8, 2008 7:15 AM CDT

US Woes Drive Toyota Profits Down 28%

World's No. 2 automaker sees tough year ahead

(Newser) - Even Toyota—with its array of popular gas-sipping vehicles—is struggling in a slumping global economy, according to the latest figures. The world’s No. 2 automaker today reported that earnings for the last quarter fell 28% to $3.05 billion from $4.2 billion a year ago, reports the...

Stocks Sink as Crude Soars
 Stocks Sink as Crude Soars 
MARKETS
May 7, 2008 3:44 PM CDT

Stocks Sink as Crude Soars

Investors worry about impact on consumers

(Newser) - Stocks zoomed downward today as oil topped $123 a barrel, hastening a sell-off by anxious investors. "You can still get a lot of nervousness when they see these daily moves in crude, along with follow-through in the stock market," an analyst tells the Wall Street Journal. The Dow...

Barack Bounces Back From Pastor Flap

Most approve of his handling of controversy

(Newser) - Barack Obama appears to be recovering—mostly—from the furor over his former pastor's incendiary remarks, according to the latest CBS News/New York Times poll. His lead over Hillary Clinton has increased from 8 points to 12 points—50% to 38%—among Democratic primary voters, who also approve of how...

Mood Lightens on Wall St. as Rally Takes Hold

As stocks rise, analysts' outlooks improve

(Newser) - Despite economic gloom spreading along Main Street, things on Wall Street are perking up, the New York Times reports—enough that analysts see a glimmer of hope for a turnaround beginning this year. The stock market rebounded almost 11% in recent weeks, junk bonds and other risky securities are rallying.

Euro About to Mark 10 Years
 Euro About to Mark 10 Years 
ANALYSIS
May 1, 2008 6:02 PM CDT

Euro About to Mark 10 Years

Common currency has its share of winners and losers

(Newser) - Like many 10-year-olds, the euro has had its ups and downs, but its current ascendancy is worrying, and not just to fans of the weakening dollar; some European states are chafing at the strength of their common currency, the New York Times reports. The German economic engine is causing high...

Economy Grew at a Crawl in First Quarter
Economy Grew at a Crawl
in First Quarter
Indicators
Apr 30, 2008 8:44 AM CDT

Economy Grew at a Crawl in First Quarter

What happened to the recession?

(Newser) - The US Gross Domestic Product rose at a 0.6% annual pace in the first quarter, despite the widespread belief that the economy is in recession, Bloomberg reports. The number stayed positive thanks to a surge in inventories, which offset flagging consumer spending and business investment. “We think we're...

Will Tax Rebates Boost Economy? Test Starts Today

The government has begun sending out the first cash

(Newser) - The first tax rebates designed to kick-start the economy should begin arriving in bank accounts today. The Treasury Department has begun sending electronic rebates to nearly 8 million people by the end of this week, and some 130 million checks will go out via snail mail in May. President Bush...

Are Wall Street Banks Ready to Risk Again?

Return to corporate bonds among likely signs crisis is easing

(Newser) - Wary investors appear to be returning to Wall Street, the Journal reports, buying back into higher-risk debt issues from the likes of troubled Citigroup and Merrill Lynch. “Risk taking has come back in the market,” said one expert.

Economic Blues Take Toll on State Budgets

Declining tax revenue may leave them $26B short next fiscal year

(Newser) - The slumping economy will pummel state budgets in the next fiscal year, leaving them at least $26 billion short, according to a survey from the National Conference of State Legislatures. Payrolls fell drastically in March and consumer confidence is low, a double whammy for state tax revenue. "With a...

Consumer Confidence Hits 26-year Low
Consumer Confidence Hits 26-year Low
Economy
Apr 25, 2008 10:59 AM CDT

Consumer Confidence Hits 26-year Low

Inflation, housing put people in a funk; most call it a recession

(Newser) - Consumer confidence fell to a 26-year low in April, as the public fretted over inflation and housing, Reuters reports. The index fell to 62.6, surpassing the 63.2 analysts had predicted. Nearly 90% said the economy is in recession. Respondents also said they were unlikely to spend their stimulus...

Bush Sets Disapproval Record
 Bush Sets Disapproval Record 
Apr 22, 2008 1:08 PM CDT

Bush Sets Disapproval Record

69% of Americans give prez thumbs down—lowest in Gallup's 70 years

(Newser) - Only 28% of Americans approve of George W. Bush’s handling of the presidency, a new low for his administration, USA Today reports. In addition, his disapproval rate—69%—is the lowest in the 70-year history of the Gallup poll. Dissatisfaction over war in Iraq and the soured economy continue...

March Home Sales, Prices Fall
 March Home Sales, Prices Fall 
Economy
Apr 22, 2008 10:02 AM CDT

March Home Sales, Prices Fall

Buyers can't get loans, or are awaiting bigger price drops

(Newser) - Prices on existing homes fell in March, but buyers stayed away, either unable to get loans, or betting on yet bigger drops, Bloomberg reports. Sales dropped 2%, to an annual rate of 4.93 million, as the median price fell to $200,700 from $217,400 last year. The number...

Venture-Capital Investments Decline
Venture-Capital Investments Decline
Apr 19, 2008 11:20 AM CDT

Venture-Capital Investments Decline

Amount of money falls 5% vs. last year, but number of deals rises

(Newser) - Venture capitalists’ investments declined 5% in the first quarter to $7.1 billion, compared with $7.5 billion this time last year, suggesting entrepreneurial concerns over startups in a troubled economy, the AP reports. The change marks the first year-to-year dip since late 2005. Still, the figure was the fifth-largest...

IBM First Quarter Profits Jump 26%

US revenue up 6% despite slowdown

(Newser) - Bellwether IBM posted a 26% spike in profits for the first quarter, proving that some tech companies are escaping the fallout from the economic downturn. The gains include a 6% increase in American revenue to $9.9 billion and are attributed to corporate customers buying products and services designed to...

Poll: McCain Ties Obama, Beats Clinton Narrowly

Republican is trusted more than either Democrat on economy

(Newser) - John McCain is tied with Barack Obama and has a 5-point edge over Hillary Clinton in a Reuters poll out today—an improvement for the Democrats. On economic stewardship, the Republican had a 3-point margin over Obama and a 5-point margin over Clinton. The pollster said the Dems continue hurting...

Retailers Checking Out as Economy Falters

Each default brings widespread fallout

(Newser) - Stores across the country are closing their doors, the New York Times reports, victims of a downturn in consumer spending. Retailers are often heavily leveraged, and as the economy falters banks are tightening credit. Several chains, including Sharper Image, have declared bankruptcy; others like Footlocker, Ann Taylor, and Zales are...

March Foreclosures Up 57% Over Last Year; Worst Coming

February gains evaporate

(Newser) - Bank repossessions skyrocketed 129% over the 12-month period ending in March, and foreclosure filings rose 57% over the previous year, RealtyTrac announced today. March foreclosure notices rose 5%, after a 4% decline in February. All this “is ongoing fallout from people overextending themselves and using highly toxic loan products,...

Recession Not Slowing Ultrarich
 Recession Not Slowing Ultrarich 
Apr 14, 2008 10:02 AM CDT

Recession Not Slowing Ultrarich

Real estate, art, yachts still finding no shortage of willing consumers

(Newser) - As many Americans batten down the hatches, the über-rich are still living it up, the New York Times reports. Already this year, 71 New York apartments have sold for more than $10 million—compared to just 17 in 2007. The good times were so good, many say, they haven’...

Stories 741 - 760 | << Prev   Next >>
Most Read on Newser