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Richest 1% control 39% of world's wealth and growing
Fri, 31 May 2013 17:18:57 GMT
The wealthiest 1 percent now control 39 percent of the world's wealth, and their share is likely to grow in the coming years, according to a new report.
Jobless claims drop, showing labor market still healing
Thu, 13 Jun 2013 13:43:55 GMT
The number of Americans filing new claims for jobless benefits fell last week, nearing its lowest level in five years in a sign of resilience for the U.S. labor market.
Economic growth revised lower as austerity bites
Thu, 30 May 2013 12:53:50 GMT
A drop in government spending dragged more on the economy than initially thought in the first three months of the year, a sign of increasing pain from Washington's austerity drive.
Austerity backlash forces Europe to soften cuts
Sun, 2 Jun 2013 14:46:09 GMT
Faced with soaring unemployment, deepening recession, and a widening political backlash, European officials are easing up on two-year-old demands for painful budget cuts from its most debt-gorged members.
Stocks close in the red on concerns Fed will pare back stimulus
Fri, 14 Jun 2013 20:26:27 GMT
Stocks closed out a volatile week on Wall Street broadly in the red Friday, as investors digested a batch of mixed economic reports amid lingering concerns over whether central banks will pare back their stimulus programs.
Nasdaq to pay $10M fine for Facebook IPO debacle
Wed, 29 May 2013 16:28:15 GMT
The Nasdaq market has agreed to pay a $10 million penalty for alleged securities laws violations resulting from its "poor systems and decision-making" during Facebook's initial public offering, the SEC said Wednesday.
Economy looks stronger, but DC's an obstacle
Thu, 30 May 2013 14:17:43 GMT
Like a steam engine leaving the station, the American economy is gathering momentum: the wheels are turning, the engine is pumping and the engineers have opened the throttle full bore. If only Washington would get out of the way.
Businesses slow job creation, raising summer slowdown fears
Wed, 5 Jun 2013 13:21:41 GMT
Private-sector job creation was weaker than expected in May, as the economy struggled to break free of what appears to be a summer slowdown on the horizon.
Progress on the jobs front will be slow, but steady
Thu, 6 Jun 2013 12:05:51 GMT
Even as federal budget cuts put the squeeze on government hiring, private employers are creating new jobs at a steady, but painfully slow, pace.
Study: Wealthy benefit more from top tax breaks
Thu, 30 May 2013 11:57:09 GMT
The top ten tax deductions, credits and exclusions will keep $12 trillion out of federal government coffers over the next decade, and several of them mainly benefit the wealthiest Americans, a new study from the Congressional Budget Office shows.
Jobless claims drop, labor market improves slowly
Thu, 6 Jun 2013 14:10:39 GMT
The number of Americans filing new claims for unemployment benefits fell last week, pointing to moderate job growth despite slowing economic activity.
Good jobs news may be bad for stocks
Sun, 2 Jun 2013 17:46:52 GMT
A strong jobs report could prompt an early end to the Federal Reserve's policy of pumping money into the banking system to rescue the economy and set off the stock market's long-awaited pullback.
Consumer spending slips in sign US economy slowed
Fri, 31 May 2013 13:52:00 GMT
Consumer spending fell in April for the first time in almost a year and inflation pressures were subdued, pointing to a slowdown in economic activity, which should allow the Federal Reserve to maintain its monetary stimulus for a while.
Consumer confidence hits five-year high in May
Tue, 28 May 2013 15:25:17 GMT
Americans' confidence in the economy jumped in May to a five-year high, lifted by a better outlook for hiring, rising home prices and more optimism about business conditions. The increase suggests consumers may keep boosting economic growth this year.
Jobless claims rise unexpectedly, but not by much
Thu, 30 May 2013 13:06:25 GMT
The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but not enough to suggest a shift in the recent pattern of modest job gains.
S&P gives US credit outlook a better grade
Mon, 10 Jun 2013 14:04:33 GMT
Credit rating agency Standard & Poor's on Monday upgraded its credit outlook for the United States government to "stable" from "negative," saying the chances of a downgrade of the country's rating is "less than one in three."
G8 will produce lots of chatter, but not much else
Fri, 14 Jun 2013 18:29:53 GMT
Any time eight of the world's most powerful heads of state gather in one room, there will be plenty to talk about. But much of the most important jawboning and arm-twisting happens behind the scenes.
What's behind the spike in pump prices where you are?
Mon, 10 Jun 2013 14:47:15 GMT
After prices spiked much higher than average in several parts of the country, a lot of drivers are wondering why they're suddenly shelling out more to fill up.
Job growth shows economy expanding at leisurely pace
Fri, 7 Jun 2013 15:17:14 GMT
If the jobs data for May are any indication, the economy isn't falling into the feared "spring swoon." It isn't dancing in the aisles, either, though.
Financial markets suffering a crisis of confidence
Thu, 13 Jun 2013 11:48:35 GMT
With investors dumping assets ranging from bonds, currencies to equities, there appears to be a lack of hope among investors that central bank policies can generate real economic recovery, said strategists.
Jobless claims drop more than expected
Thu, 23 May 2013 13:12:06 GMT
The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington.