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 [...]
Posts Tagged ‘recession’
US consumer spending up as economy gains steam
December 23rd, 2009 by Financial Writer
Tags: economy, recession, us consumer, us economist, us unemployment
more...Current account trade deficit widens in 3Q
December 16th, 2009 by Financial Writer
The deficit in the broadest measure of foreign trade posted a sharp increase in the July-September quarter, a sign that the U.S. economy was beginning to rebound as demand for foreign goods increased.
The Commerce Department said Wednesday the current account deficit rose to $108 billion in the third quarter, an increase of 10.3 percent from [...]
Tags: deficit, recession, us companies, us economy, us investments
Japan business mood up more than forecast
December 14th, 2009 by Financial Writer
Japanese business confidence edged up more than expected in the three months to December but remained negative for the sixth quarter in a row, a Bank of Japan survey showed, as the economy slowly recovers from its worst postwar recession.
The headline index for big manufacturers’ sentiment was minus 24 in December, improving from minus 33 [...]
Tags: bank of japan, global financial crisis, japan's economy, japanese business, recession
Costco 1Q profit edges higher, sales climb
December 10th, 2009 by Financial Writer
A strong turnaround in a key sales figure and rising revenue despite lower gasoline prices helped Costco Wholesale Corp. post a slight increase in its fiscal first-quarter profit on Thursday.
The nation’s largest wholesale-club operator has been helped by sales of food and everyday items to recession-weary consumers during the economic downturn, but has recently seen [...]
Tags: costco, financial meltdown, recession, us warehouse, wholesale
Stock futures fall as traders boost dollar, bonds
December 8th, 2009 by Financial Writer
Stock futures indicated a lower opening on Wall Street Tuesday, as investors sought more safe-haven assets like the dollar and Treasurys.
The dollar gained ground against other major currencies, while bond prices rose. Commodities fell as the dollar rose. A stronger dollar makes commodities more expensive for buyers overseas, and also hurts profits at companies that [...]
Tags: dow jones, Federal Reserve, investors, recession, stock futures, wall street
U.S. job data gives boost to recovery hopes.
December 4th, 2009 by Financial Writer
U.S. employers cut far fewer jobs than expected last month in the best showing for the labor market since the recession began, boosting the U.S. dollar and global stock prices on hopes for a strong economic recovery.
The economy shed only 11,000 jobs in November, well below the 130,000 loss financial markets had braced for, while [...]
Tags: economic recovery, recession, recovery hopes, unemployment, us employers, us job
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
Banks earn $2.8B in 3Q; insurance fund in the red
November 24th, 2009 by Financial Writer
The apparent end of the recession and stabilizing financial markets have not cured the banking industry, the Federal Deposit Insurance Corp. said Tuesday.
Banks earned $2.8 billion in the third quarter, but loan balances plummeted and the fund that insures their deposits was $8.2 billion in the red. Souring loans continued to hurt bank balance sheets, [...]
Tags: banking industry, banks, fdic, financial markets, loans outstanding, recession
Coca-Cola sees massive global sales growth
November 16th, 2009 by Financial Writer
Coca-Cola Co. seeks to double its business in the next decade as it caters to the expected billion people worldwide who will join the middle class by 2020.
The world’s largest soft drink maker told analysts and investors at a meeting Monday its systemwide revenue will reach $200 billion by 2020. The company hopes to make [...]
Tags: business, coca cola, global sales, investors, recession
World Bank warns unemployment threatens US economy
November 11th, 2009 by Financial Writer
Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.
Zoellick warned that the U.S. unemployment rate, which jumped to a 26-year high of 10.2 percent in October, will likely remain elevated in 2010.
“You’re going to [...]
Tags: business investment, loans, mortgages, recession, unemployment, us economy, world bank