recession

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US Recession May Imperil Global Tourism

UN body predicts slower international travel growth in 2008

(Newser) - The number of international tourists could decrease this year if the US falls into a deep recession, but the UN is "cautiously optimistic" that 2008 will be the fifth straight year of growth, Reuters reports. After 2007's record 898 million tourist trips, a 6.2% jump over 2006, the...

Romney Lets Guard Down, Boosts Appeal

Geeky CEO shines through matinee idol package on Fla. trail

(Newser) - Mitt Romney's inner nerd is showing, and allowing voters to see it may make him seem likable enough to get elected, Time reports. The candidate's conservative attack dog persona flooded airwaves for months but didn't play well outside of Michigan; now, the tired candidate is letting his dweeby, number-crunching, spreadsheet-loving...

TV Makers Scoff at Your Puny Recession

Say buyers will continue snapping up flat panels; investors not so sure

(Newser) - Who cares if there’s a recession? The Super Bowl’s on! Even after the worst retailing Christmas in years, the makers of flat-panel, high-definition TVs are confident their trendy product will keep selling, spurred by falling prices and prime tube-watching events like the Olympics. One market-research firm is predicting...

Consumer, Housing Numbers Slump
Consumer, Housing Numbers Slump
Jan 29, 2008 11:14 AM CST

Consumer, Housing Numbers Slump

News isn't all gloomy: Demand for durable goods surges

(Newser) - Consumer confidence fell a bit less than expected but still approached a 2-year nadir in January, reinforcing fears that Americans will put the brakes on personal spending. In other economic reports out today, the S&P/Case-Shiller housing-price index report showed a 7.7% year-over-year drop for November, Bloomberg reports, and...

World Money Chief Calls for Global Action

IMF head foresees widespread slowdown, backs US stimulus

(Newser) - With a global recession looming, the head of the IMF has warned bankers meeting in Davos, Switzerland, that lower interest rates alone won’t avert a crisis, the Financial Times reports. Dominique Strauss-Kahn called on governments to follow the US in easing fiscal policies, reversing a quarter-century of emphasis on...

Stocks Retreat in Asian, Euro Markets

World markets fell today on fears of US recession, slowing global growth

(Newser) - European and Asian markets slid again today as fears that the US is in a recession gained ground—despite efforts to shore up its economy and the likelihood the Fed would cut rates up to 50 basis points this week, reports Reuters. Commodity producers and banks suffered as investors worried...

Ailing Yahoo! Can't Keep Up With the Times
Ailing Yahoo! Can't Keep Up With the Times
OPINION
Jan 25, 2008 2:25 PM CST

Ailing Yahoo! Can't Keep Up With the Times

Outmoded, mismanaged company is poised for implosion

(Newser) - After miraculously withstanding the dot-com crash, Yahoo is again poised to fall face first off a virtual cliff, with its plummeting stock hardly masked by national economic disrepair. But despite hemorrhaging users to Google, the company is still a huge presence on the Web, with 3 billion daily hits. So...

Poll: Most Expect Recession but Aren't Hurting—Yet

Poll shows majority fear for future

(Newser) - The vast majority of Americans are convinced the nation is sinking into a recession—but most are not feeling the pinch themselves and have no plans to tighten their belts just yet, according to a Los Angeles Times/Bloomberg poll. A year ago a similar poll showed widespread confidence that the...

US to You: $600 Check's in Mail
US to You: $600 Check's in Mail
UPDATED
Jan 24, 2008 10:39 AM CST

US to You: $600 Check's in Mail

Bipartisan compromise would put $600 in your pocket

(Newser) - Congress today announced an economic stimulus package that would put a $600 check in every American taxpayer's mailbox by early summer, sources tell CNN, and a likely $300 per child. The refunds are "there to strengthen the middle class, to create jobs and to turn this economy around,"...

US Sneeze Doesn't Spook Many at Davos

Economic power shift has many world execs cheery about prospects

(Newser) - Bigwigs spooked by the downturn in the US economy aren't spreading their usual cheer at the World Economic Forum in Switzerland, Fortune reports, but many other Davos attendees are smiling. Representatives say the Indian and Chinese economies are strong enough to weather recession; many agree with George Soros that “...

Did Fed Freak With Emergency Rate Cut?
Did Fed Freak With Emergency Rate Cut?
OPINION
Jan 23, 2008 10:13 AM CST

Did Fed Freak With Emergency Rate Cut?

Decision smacks of panic—and worse trouble yet to come

(Newser) - Yesterday's steep interest rate cut—just a week ahead of a scheduled policy meeting—made the staid Federal Reserve come across as spooked and jumpy, leaving many to wonder if the Fed knows of worse news to come, Reuters' Ros Krasny writes. The surprise .75-point cut "is a declaration...

Bush Vows Quick Boost for Economy
Bush Vows Quick Boost
for Economy
Jan 22, 2008 6:47 PM CST

Bush Vows Quick Boost for Economy

Gives bipartisan lawmakers 3 weeks to forge accord

(Newser) - President Bush pushed his fiscal stimulus plan with lawmakers today and vowed the bipartisan group will find "common ground," the Washington Post reports. The economic boost—which he set at $150 billion—will not kick in overnight, he warned, but said congressional leaders must reach an accord in...

Advice Amid Market Turmoil: Don't Panic!

Ride out the storm and hang on to your 401k, experts say

(Newser) - If you’re watching today’s economic news with trepidation, financial experts want you to take a deep breath. “This is not the beginning of the end,” said one analyst. “If you’re going to invest in stocks, this kind of volatility comes with the territory.”...

EU Frets Over Fallout From US Economy's Slide

Subprime woes spread across Atlantic; euro drops

(Newser) - Stock markets around the world continued to hemorrhage today on worries the US would slide into recession, prompting finance ministers to warn that the slump is threatening EU growth. They revised forecasts downward for the 15-member EU, reports Bloomberg. “There is great concern about the financial crisis,” said...

US Recession Fears Pummel World Markets

Asian, European investors selling off stocks to avoid exposure to downturn

(Newser) - Markets across Asia and Europe fell sharply today on fears of a looming US recession and a lack of confidence in Bush’s $145 billion economic rescue plan, reports Bloomberg. Japan's Nikkei was off 3.9% and the Hong Kong Seng Index fell 3.5%, the most since Sept. 11,...

Bush Favors Tax Rebates for Stimulus

Congress considers refunds of up to $800 as recession fears grow

(Newser) - President Bush's plan to give the economy a temporary lift favors tax rebates of up to $800 for individuals and tax breaks for businesses, the AP reports. Bush met privately with lawmakers today and will outline his plan tomorrow. Congress hopes to act quickly as fears of a recession grow....

Bernanke Backs Quick Bailout
Bernanke Backs Quick Bailout
Jan 17, 2008 10:50 AM CST

Bernanke Backs Quick Bailout

Fast, temporary stimulus would buoy flagging economy, Fed chief tells Congress

(Newser) - The country needs a federal stimulus package ASAP, Federal Reserve Chairman Ben Bernanke told the House Budget Committee today, advocating immediate legislation designed “so its effects on aggregate spending are felt as much as possible within the next 12 months.” But he said the package should be “...

Economists Fear It's Too Late to Save Economy

Measures now won't have impact for months

(Newser) - It may already be too late to quickly stop the economic tailspin triggered by the implosion of the housing market and booming energy prices, several experts believe, reports the New York Times. Perhaps the best that can be done is to make the crunch hurt a little less. “The...

Congress, Bush Push Stimulus Plan
Congress, Bush Push Stimulus Plan
Jan 12, 2008 8:55 AM CST

Congress, Bush Push Stimulus Plan

Smelling recession, two parties step up effort for economic relief package

(Newser) - With Democrats and Republicans increasingly spooked about a looming recession, the two sides appear ready to work together on an economic stimulus package of about  $100 billion in tax cuts and spending, the New York Times reports. Reps. Nancy Pelosi and Harry Reid yesterday wrote to President Bush, "We...

Clinton Unveils $70B Fix for Economy

GOP hopefuls attack plan and each other; Bush mulls tax rebate

(Newser) - Hillary Clinton upstaged her rivals today by proposing $70 billion in emergency spending to help avoid a US recession, Reuters reports. Her plan would include $30 billion for homeowners, $25 billion for families with high energy bills, and another $15 billion aimed at unemployment insurance and alternative energy plans—all...

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