The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain, while imports fell on a big drop in demand for foreign oil.
The Commerce Department said Friday that the trade deficit declined 3.5 percent to $30.7 billion, surprising economists who had expected higher oil prices to push the imbalance to $33 billion. [...]
Archive for the ‘US Finance’ Category
Aug. trade deficit narrows unexpectedly to $30.7B
October 9th, 2009 by Financial Writer
Tags: economists, exports, Global Economy, obama, oil, recession
more...U.S. still seen in recession, may last until 2010
October 7th, 2009 by Financial Writer
U.S. finance executives believe the American economy is still in recession, despite signs growth may have resumed in the third quarter, a survey showed on Tuesday.
The survey conducted by the Association for Financial Professionals also showed that many executives in the financial sector did not expect their organizations to resume hiring or capital spending in [...]
Tags: bank, economic, economy, finance, lending, recession
Holiday sales: Tough sledding ahead
October 6th, 2009 by Financial Writer
Santa’s load will be lighter once again, with crucial year-end holiday sales expected to decline for a second year in a row, according to an industry forecast Tuesday.
Although many Americans have had a year to absorb shocks to the economy and to their own household budgets, the National Retail Federation (NRF) said continued job losses [...]
Tags: economy, Global Economy, money, sales
Investors brace for a rocky ride
October 5th, 2009 by Financial Writer
The stock advance has hit some resistance in the last two weeks and it’s only going to get tougher as the third quarter reporting period gets underway.
Since hitting rally highs nearly two weeks ago, the broad S&P 500 index has lost 4.3% as investors have sorted through a spate of manufacturing, consumer and jobs reports [...]
Tags: employers, investors, monetary, recession, unemployment
Bad news: Jobs market getting worse
October 2nd, 2009 by Financial Writer
Employers cut more jobs from their payrolls in September and the unemployment rate hit another 26-year high, as the long-battered U.S. labor market took an unexpected turn for the worse, according to a government report Friday.
The Labor Department said there was a net loss of 263,000 jobs in the month, up from a revised loss [...]
Tags: economists, employers, jobs, unemployment
Skittish stock investors sit out while bull market runs
October 1st, 2009 by Financial Writer
With the money-losing memories of the financial crisis still fresh in their minds, investors are having a tough time embracing the new bull born in early March.
Despite the best back-to-back quarters of gains since 1975 for the U.S. stock market and a 56.2% rise in a 6 1/2-month span, many investors are questioning whether the [...]
Tags: financial crisis, investors, money, recession, wall street
Bass Pro CEO Morris brings passion for fishing to job
September 30th, 2009 by Financial Writer
Bass Pro Shops is “what most retailers only fantasize about,” said Ethan Allen CEO Farooq Kathwari when he introduced Bass Pro CEO Johnny Morris at an awards ceremony last year.
But try to get the details of the dream out of Morris, and you’ll find he’s conveniently “gone fishing.”
That may say as much about his love [...]
Tags: CEO, job, merchandise, recession
U.S. consumer confidence slips
September 29th, 2009 by Financial Writer
American consumers continue to sit on their wallets, according to two sets of data released Tuesday.
The U.S. Conference Board reported its consumer confidence index fell in September. The index fell to 53.1 in September from 54.5 in August. That erases some of the seven-point gain for the index made from July to August. Americans grew [...]
Tags: consumers, economy, spending, us
The last bank left standing for small businesses
September 28th, 2009 by Financial Writer
As other major players fell away, Wells Fargo has remained a stalwart, increasing its lending this year through SBA programs.
The landscape of lenders willing to work with small business owners has changed dramatically in the last year, but one bank — Wells Fargo — has emerged stronger than ever.
While other financiers that were historically major [...]
Tags: bank, business, businesses, financiers, lending
Banks win round 1 in consumer fight
September 25th, 2009 by Financial Writer
This summer, when Obama administration officials talked about overhauling financial regulation, they threw around a catchy phrase sure to appeal to consumers: “Plain vanilla” mortgages and credit cards.
“Plain vanilla” was used to illustrate the powers of a proposed new consumer agency. The agency could set basic standards — like one-page, easy-to-understand applications for 30-year-fixed mortgages.
Now, [...]
Tags: financial, mortgages, obama, real estate