The number of newly laid-off workers seeking unemployment benefits likely rose slightly last week, a sign that jobs remain scarce even as the economy slowly recovers.
A Labor Department report is expected to show new unemployment insurance claims rose by 8,000 to a seasonally adjusted 460,000, according to economists surveyed by Thomson Reuters.
Economists closely monitor initial [...]
Archive for December, 2009
Ahead of the Bell: Jobless claims
December 31st, 2009 by Financial Writer
Tags: bell, economy recovery, economy slowly, jobless claims, unemployment
more...What Americans might face next: inflation
December 31st, 2009 by Financial Writer
A historic economic crisis has left Americans with plenty of things to worry about. But is inflation one of them? And is there a risk that fretting over higher prices may actually bring them about?
The answers to these questions will help define the timing of the Federal Reserve’s pullback from an unprecedented level of monetary [...]
Tags: americans might, fed, inflation, interest rates, purchasing power
World markets mixed after Wall Street slips
December 30th, 2009 by Financial Writer
European stock markets were mixed during sluggish year-end trading Wednesday after Wall Street snapped a six-day advance overnight and Asian markets fluctuated.
In Europe, the FTSE-100 index of leading British shares held its last full session of the year, inching up 0.5 percent to 5,429.22. In France, the CAC 40 retreated from its 2009 high reached [...]
Tags: home prices, japan airlines, stock markets, wall street
Fed Proposes Selling Term Deposits to Absorb Excess Reserves
December 29th, 2009 by Financial Writer
The Federal Reserve proposed a program to sell term deposits to banks to absorb some of the banking system’s $1 trillion in excess reserves now threatening to accelerate inflation as the economy recovers.
The plan, subject to a 30-day comment period, “has no implications for monetary policy decisions in the near term,” the central bank said [...]
Tags: banking system’s, central bank, economy recovers, fed, Federal Reserve, jeffrey lacker
Sales up a bit these holidays over last year
December 28th, 2009 by Financial Writer
Holiday shoppers spent a little more this season, according to data released Monday, giving merchants some reason for cheer.
The spending bounce means retailers managed to avoid a repeat of last year’s disaster even amid tight credit and double-digit unemployment. Profits should be healthier, too, because stores had a year to plan their inventories to match [...]
Tags: holiday shoppers, lean inventories, managing inventories, thanksgiving
Japan can avoid double-dip recession: minister
December 27th, 2009 by Financial Writer
Japanese National Strategy Minister Naoto Kan said on Sunday the country’s economy can avoid a double-dip recession thanks to economic recovery abroad, fiscal stimulus by the government and better market conditions.
Japan’s economy is in deflation and the three-month old Democratic Party-led government fears a return to a recession next year, especially ahead of an upper [...]
Tags: economic recovery, economy, fiscal spending, japan, naoto kan, recession
US extends guarantees on Fannie, Freddie through 2012
December 26th, 2009 by Financial Writer
The US Treasury said Thursday it would extend guarantees to Fannie Mae and Freddie Mac through 2012 to allow the government-sponsored mortgage finance giants to weather any new crisis.
A new, amended agreement lifts a cap of 200 billion dollars in aid that can be pumped into each of the two firms, and gives the government [...]
Tags: fannie Mae, freddie Mac, Global Financial, housing, mortgage finance
Debt limit hike wins final Congress approval
December 24th, 2009 by Financial Writer
A divided U.S. Senate gave final congressional approval on Thursday to a $290 billion hike in the federal debt limit, enough to finance the record U.S. deficit for another two months while the United States digs out from the worst recession since the 1930s.
On a largely party-line vote of 60-39, the Democratic-led Senate approved legislation [...]
Tags: federal debt, max baucus, US Deficit, us senate
US consumer spending up as economy gains steam
December 23rd, 2009 by Financial Writer
US consumer spending rose as Americans enjoyed their biggest income gain in six months in November, government data showed Wednesday in a sign the economy is gaining steam following recession.
The Commerce Department said personal consumption expenditures climbed 0.5 percent in the penultimate month of 2009 fueled by spending on goods as retailers slashed prices to [...]
Tags: economy, recession, us consumer, us economist, us unemployment
A year when even the boss’ job wasn’t safe
December 23rd, 2009 by Financial Writer
Of the 4.3 million Americans who lost their jobs this year, unemployed CEOs may deserve the least public sympathy. Many of them ran companies that took federal aid. Others made a fortune when they sold their companies. One may have mishandled data that was tied to his company’s most promising product.
But as we look back [...]
Tags: AIG, CEO, financial services, obama administration, unemployed