Economic growth slowed in the second quarter as a capital investment drive by businesses sucked in imports at the fastest pace since the first quarter of 1984.
Gross domestic product expanded at a 2.4 percent annual rate, the Commerce Department said in its first estimate on Friday, after an upwardly revised 3.7 percent growth pace in [...]
Archive for the ‘US Finance’ Category
Imports slow second-quarter growth
July 31st, 2010 by Financial Writer
Tags: business investment, businesses, commerce department, economic growth, financial crisis, financial system, taxpayers, unemployment rate, us stocks
more...U.S. Economy Grew 2.4% in Second Quarter, Below Forecast
July 30th, 2010 by Financial Writer
Growth in the U.S. slowed to a 2.4 percent annual rate in the second quarter, less than forecast, reflecting a larger trade deficit and an easing in consumer spending.
The increase in gross domestic product compared with a median forecast of 2.6 percent of economists surveyed by Bloomberg News and follows an upwardly revised 3.7 percent [...]
Tags: business, business investment, commerce department, consumer spending, economists, global recovery, investment, us manufactured
European, IMF Officials Begin Visit To Greece Amid Protests
July 26th, 2010 by Financial Writer
A delegation of European and International Monetary Fund officials began a two-week visit to Greece Monday to assess the country’s reform progress that will determine its eligibility to receive further funding under an EUR110 billion loan deal.
The interim review by the so-called troika of European Commission, European Central Bank, and IMF officials comes amid the [...]
Tags: business, economists, economy, european central bank, european economy, financial, financial markets, financial system, IMF, interest rates, loans, stock market
Bernanke Says Extending Bush’s Tax Cuts Would Maintain Economic Stimulus
July 24th, 2010 by Financial Writer
Federal Reserve Chairman Ben S. Bernanke said extending at least some of the tax cuts set to expire this year would help strengthen a U.S. economy still in need of stimulus and urged offsetting the move with increased revenue or lower spending.
“In the short term I would believe that we ought to maintain a reasonable [...]
Tags: ben bernanke, economic recovery, economists, Federal Reserve, Global Economy, interest rates, unemployment rate, us, us economy, us stocks
20% of Americans hit by major economic loss
July 22nd, 2010 by Financial Writer
A new study released Wednesday estimates that 20% of Americans suffered a significant economic loss last year - the highest level in the past 25 years.
The new Economic Security Index looks at the interaction of three key variables that have a direct bearing on a person’s economic security: income loss, medical expenses and debt.
The index, [...]
Tags: debt crisis, economic estimates, economists, financial, financial markets, financial system, money, us economic, us economy
Stocks Shrug Off Earnings, Wait for Bernanke
July 21st, 2010 by Financial Writer
U.S. stocks wavered, as lagging health-care stocks competed with enthusiasm over second-quarter earnings from financials ahead of testimony from Federal Reserve Chairman Ben Bernanke.
Investors will be listening for any guidance Mr. Bernanke offers on the possibility of the economy slowing down in the second half and what further tools the Fed has at its disposal [...]
Tags: Dow Jones Industrial, economic growth, economy recovery, financial system, investment, money, Nasdaq composite, us, us economic, us stocks, wells fargo
It’s still the economy
July 20th, 2010 by Financial Writer
President Barack Obama, working with Democratic majorities in the House and Senate, accomplished many of the priorities on which he campaigned. Yet most every political observer expects the Democrats to lose seats in the November House and Senate elections, perhaps many of them.
The explanation derives from the fact that many voters supported Mr. Obama, and [...]
Tags: barack obama, central bank, economic, economists, fannie Mae, financial markets, financial system, freddie Mac, us, us economic, us economy, us stocks, wall street
US Stocks Climb Modestly, Boosted By Deals, Early Earnings Reports
July 19th, 2010 by Financial Writer
U.S. stocks bounced back modestly Monday, as investors drew confidence from weekend deals and early earnings reports ahead of a week packed with corporate results and stocks regained some of their equilibrium following Friday’s sharp decline.
Better-than-expected earnings from Delta Air Lines and Halliburton helped boost expectations for the week’s crop of earnings releases, which will [...]
Tags: Dow Jones Industrial, economy recovery, euro zone, european economy, european union, IMF, investors, money, Nasdaq composite, us stocks
Holding Bankers’ Feet to the Fire
July 18th, 2010 by Financial Writer
KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington have continued to coddle the big banks even after they drove our economy into the ditch, this agency seems serious about recovering money for taxpayers by holding bad financial actors to account.
The [...]
Tags: banks, business, economy recovery, fannie Mae, financial markets, financial system, freddie Mac, Global Economy, investors, mortgage finance, taxpayers, us economic, us stocks, wall street
China reduces US Treasury debt holdings in May
July 16th, 2010 by Financial Writer
China reduced its holdings of U.S. Treasury debt in May as total foreign holdings of government debt posted a slight increase.
China’s holdings fell by $32.5 billion to $867.7 billion, the Treasury reported Friday. Total foreign holdings edged up $5.8 billion to $3.96 trillion.
The drop in China’s holdings and the weak showing overall was a surprise. [...]
Tags: China, economic, economists, european economy, financial crisis, interest rates, investors, us treasury
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