Treasury Secretary Timothy Geithner on Thursday said it was vital to get U.S. budget deficits down in order to spur private-sector growth that creates jobs and predicted it will begin happening in 2011.
But first the financial system must be stabilized.
“You cannot address those long-term deficits, you cannot put the government of the United States in [...]
Archive for December, 2009
Geithner says need to cut budget deficit
December 3rd, 2009 by Financial Writer
Tags: budget deficit, business network, financial system, geithner, small businesses
more...Early retail reports suggest sluggish November
December 3rd, 2009 by Financial Writer
Many merchants suffered through November as a modestly positive start to the holiday shopping season wasn’t strong enough to offset weak spending the rest of the month.
Sales for many that are even weaker than last November, which was marked by a consumer spending clampdown spurred by the financial meltdown, are an ominous sign for an [...]
Tags: economy, financial meltdown, holiday shopping, reported sales, thanksgiving
GE returns to its roots as it spins off NBC
December 2nd, 2009 by Financial Writer
For General Electric Co., the NBC entertainment division was always an odd fit.
One of America’s iconic industrial businesses, GE has spent 23 years making sitcoms and blockbuster movies along with jet engines, dishwashers and light bulbs. The pairing of glitzy entertainment and gritty manufacturing has often confounded investors and even has been ruthlessly satirized by [...]
Tags: businesses, financial crisis, iconic industrial, real estate, recession
Business Highlights
December 1st, 2009 by Financial Writer
The economic recovery seems on track for slow but steady gains after new reports Tuesday showed growth in manufacturing activity, construction spending and contracts to buy homes.
The batch of new economic data lifted spirits on Wall Street. But analysts cautioned that the economy won’t come roaring back from the worst recession in seven decades. Some [...]
Tags: business highlights, economic recovery, small businesses, wall street
Stock futures rise ahead of economic surveys
December 1st, 2009 by Financial Writer
Stocks headed toward a higher open Tuesday as investors await reports on manufacturing and home sales for more evidence on the state of the economy.
Overseas markets are higher Tuesday amid diminishing fears about Dubai’s debt problems. The emirate’s government investment company said it was looking at restructuring.
News of a deal between General Electric and Vivendi [...]
Tags: broader economy, dubai's debt, economists, general electric, home sales, investors, stock