tag:blogger.com,1999:blog-10739767218926200972011-11-27T16:43:23.801-08:00Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comBlogger22571100tag:blogger.com,1999:blog-1073976721892620097.post-27995898131738850112011-11-17T15:19:00.001-08:002011-11-17T15:19:06.313-08:00

Tech companies say Congress' anti-piracy bills are 'draconian' and 'deeply flawed.' NEW YORK (CNNMoney) -- A proposed new bill intended to combat online piracy has sparked a giant backlash from big tech companies, including Google and Facebook, who say the proposals are far too strict and rife with unintended consequences. The Stop Online Piracy Act (SOPA), which was introduced in the House of

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-47168208664688674042011-11-15T15:24:00.001-08:002011-11-15T15:24:56.283-08:00

It took over two weeks for the millions who lost power in October's freak blizzard to get their electricity back. Burying power lines may help, but it costs a million dollars a mile. NEW YORK (CNNMoney) -- October's freak blizzard knocked out power for over 2 million people in the Northeast. In Connecticut, the hardest hit state, all the power lines weren't fixed until just last week. Storms

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-47765829555579070692011-11-14T15:15:00.001-08:002011-11-14T15:15:20.534-08:00

Decision on Keystone oil sands pipeline delayed until 2013. Environmentalists hope it will scuttle the project. NEW YORK (CNNMoney) -- Bowing to public pressure, the Obama administration said Thursday it will delay a decision on the controversial Keystone oil sands pipeline expansion until at least 2013. Citing concern over the proposed route through Nebraska's Sand Hills region and over the

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-1904127307930071322011-11-13T15:20:00.001-08:002011-11-13T15:20:48.643-08:00

NEW YORK (CNNMoney) -- Home prices continued a winning streak in August, the fifth straight month of price gains, but remain lower on a year-over-year basis. A gauge of home prices featuring 20 major cities, the S&P/Case Shiller index, reported Tuesday that prices rose 0.2% in August but were still down 3.8% year over year. Print Comment "Even though the [year-over-year] rates are improving,

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-72094962793661132572011-11-12T15:17:00.001-08:002011-11-12T15:17:11.555-08:00

Fed Chairman Ben Bernanke NEW YORK (CNNMoney) -- Take that Rick Perry! Ben Bernanke headed down to Texas to rally the troops Thursday, and didn't get treated so "ugly" after all. The Federal Reserve Chairman spoke to soldiers at Fort Bliss, offering up tips to improve their job prospects and personal finances. His speech -- along with a question-and-answer session -- came about three months

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Sen. Jon Tester, a Montana Democrat, speaks to veterans and lawmakers about his jobs proposal. WASHINGTON (CNNMoney) -- Heading into Veterans Day, the Senate unanimously passed a bill to help unemployed veterans seeking jobs as well as federal contractors facing a new tax burden in 2013. The Senate voted 95-to-0 Thursday to pass the first and so far only piece of President Obama's jobs package

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-21625420633876297582011-11-09T15:21:00.001-08:002011-11-09T15:21:10.415-08:00

International Energy Agency says the world is embarking on oil and coal projects and will 'lock itself into an insecure, inefficient and high-carbon energy system.' NEW YORK (CNNMoney) -- The International Energy Agency warned Wednesday that the world faces serious dangers from global warming unless it radically alters its planned investments in new oil and coal facilities. Under current

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-88062893127728768232011-11-08T15:21:00.001-08:002011-11-08T15:21:06.495-08:00

Concerns over the water and air could derail the $7 billion Keystone pipeline project that promises thousands of jobs, millions of barrels of oil and billions in tax revenue. NEW YORK (CNNMoney) -- Twenty thousand construction jobs. $5 billion in tax revenue. 700,000 barrels of additional oil a day. All these things are now in doubt as opposition mounts to the expansion of the Keystone

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-49841444142340453752011-11-07T15:17:00.001-08:002011-11-07T15:17:30.716-08:00

Budget chief Jack Lew says he's optimistic Congress will say no to federal shutdowns. WASHINGTON (CNNMoney) -- White House budget director Jacob Lew said Thursday he's optimistic that Congress will avoid any more threats of federal shutdowns later this month over a 2012 budget. "After living through April and July, any reasonable person would have to say there's risk" of a shutdown crisis, said

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-35862645512211785732011-11-06T15:11:00.001-08:002011-11-06T15:11:11.484-08:00

0:00 / 01:55 Bernanke's mixed outlook in 2 min NEW YORK (CNNMoney) -- The Federal Reserve issued a slightly better outlook on the economy Wednesday, but cut its economic growth forecast for the year overall. Following a two-day policy meeting, the central bank voted 9-to-1 to make no changes to the Fed's ongoing stimulus program, and maintain its pledge to keep interest rates at record lows "at

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-51789987600499475962011-11-05T16:23:00.001-07:002011-11-05T16:23:43.640-07:00

A lot of work but not a lot of time left: Debt committee leaders Jeb Hensarling and Patty Murray and member Jon Kyl. NEW YORK (CNNMoney) -- Republicans on Capitol Hill gave conflicting messages to the debt committee this week. Yes, we will accept increases in tax revenue as part of a debt reduction plan. Print Comment Um, no, we won't. Yes: On Wednesday, 40 House Republicans -- along with 60

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-30241232863404699582011-11-04T16:16:00.001-07:002011-11-04T16:16:59.988-07:00

World's top economic leaders stand together for a 'family portrait' at the G20 summit in Cannes. CANNES, France (CNNMoney) -- After a summit dominated by concerns about Europe, the world's most powerful political leaders produced a two-page "action plan" for the global economy that builds largely on existing policies previously stated goals. The Group of 20 Summit in Cannes, France, ended on a

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-56538169685736671812011-11-03T16:17:00.001-07:002011-11-03T16:17:08.410-07:00

NEW YORK (CNNMoney) -- The corporate tax rate is 35%. But an examination of 280 of the nation's largest corporations suggests that many aren't paying anything close to that. The real tax rate paid by a slew of major corporations averages closer to 18.5%, according to a study released Thursday by two liberal tax research groups. Print Comment The report issued by Citizens for Tax Justice and

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-29271418454811733122011-11-02T16:15:00.001-07:002011-11-02T16:15:58.601-07:00

The Occupy Wall Street movement in Oakland, Calif., plans a citywide general strike Wednesday. NEW YORK (CNNMoney) -- The Occupy Wall Street movement is about to enter new territory: The strike zone. By a vote of 1,484 to 46, the General Assembly of Occupy Oakland voted last week to call a citywide general strike for Wednesday. Print Comment "[W]e invite all students to walk out of school.

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-29198252011635784202011-11-01T16:18:00.001-07:002011-11-01T16:18:41.395-07:00

Budget experts (left to right) Erskine Bowles, Alan Simpson, Alice Rivlin and Pete Domenici urged the debt committee to lead. NEW YORK (CNNMoney) -- The congressional debt committee, three weeks from its deadline and reportedly deadlocked, got a polite earful on Tuesday from four of the most passionate proponents of a big, balanced and bipartisan deficit-reduction plan. Their key message: Step

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-41455193152919651942011-10-31T16:35:00.001-07:002011-10-31T16:35:21.577-07:00

Making his flat tax optional solved one problem - its regressive nature. Howard Gleckman is a resident fellow at the Urban Institute and editor of TaxVox, the blog of the nonpartisan research organization Tax Policy Center. The opinions expressed in this commentary are solely those of the writer. One of the biggest problems with Texas Gov. Rick Perry's optional flat tax may be the choice it

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-17372126830050110792011-10-30T16:28:00.001-07:002011-10-30T16:28:25.931-07:00

NEW YORK (CNNMoney) -- The good news is, a recent pick-up in consumer spending is fending off fears of another U.S. recession. The bad news is, it's coming at the expense of Americans' savings. Print Comment On average, consumers put 3.6% of their hard-earned dough into savings in September, the government reported Friday. It marks the lowest level of saving since December 2007, when

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-49103776059787712532011-10-29T15:19:00.001-07:002011-10-29T15:19:11.620-07:00

Members of the Occupy Wall Street movement delivered letters on Friday at the Manhattan headquarters of some of Wall Street's biggest banks. NEW YORK (CNNMoney) -- Occupy Wall Street is getting personal. After railing against Wall Street greed for weeks from their encampment at Zuccotti Park in New York, a group went on the move Friday, dropping off thousands of letters addressed to Wall Street

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-40289332276153610682011-10-28T15:16:00.001-07:002011-10-28T15:16:52.484-07:00

French president Nicolas Sarkozy and Chinese president Hu Jintao may have to do more than shake hands. Europe wants (and needs) China to invest in the EFSF bailout fund. NEW YORK (CNNMoney) -- New dad Nicolas Sarkozy is apparently hoping for a great baby gift from China president Hu Jintao. A couple of hundred billion euro or so should do. With Sarkozy and other European leaders finally

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-16558143914127214282011-10-27T15:14:00.001-07:002011-10-27T15:14:41.078-07:00

WASHINGTON (CNNMoney) -- Some 35 million Medicare recipients will have to dig a little deeper into their pockets when they go to the doctor next year. Premiums for office visits and outpatient hospital services will go up by $3.50 a month, the Obama administration announced Thursday. Print Comment At the same time, 12 million recipients who had been paying higher premiums because they are

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-52404555442014722382011-10-26T15:26:00.001-07:002011-10-26T15:26:22.476-07:00

Household income for top 1% more than triples, while middle-class incomes grow by less than 40%. NEW YORK (CNNMoney) -- From 1979 to 2007, average household income for the nation's top 1% more than tripled, while middle-class incomes grew by less than 40%, according to a new report from a research arm of Congress. While those at the top have seen their incomes soar over the past three decades,

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-16134939704359800292011-10-25T15:22:00.001-07:002011-10-25T15:22:09.997-07:00

NEW YORK (CNNMoney) -- In the latest attempt to address the ailing housing market, the government on Monday announced changes to a federal program that will make it easier for struggling homeowners to refinance to today's near-record low rates. Under the new program, homeowners who owe more on their homes than they are worth will be able to refinance no matter how much they are underwater, as

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-63106215949161006012011-10-24T15:18:00.001-07:002011-10-24T15:18:01.020-07:00

NEW YORK (CNNMoney) -- Inflation took a bigger bite out of consumers' wallets over the last 12 months, with September marking the biggest rise in three years. But at the same time, monthly price increases are starting to slow. Print Comment The Consumer Price Index, the government's key measure of inflation at the retail level, jumped 3.9% in September from the year before. Higher food and

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-24240278886227324462011-10-23T15:21:00.001-07:002011-10-23T15:21:30.568-07:00

Most of these Republicans don't like the Federal Reserve all that much. NEW YORK (CNNMoney) -- The Federal Reserve. It's the one institution almost every Republican presidential hopeful loves to hate. And during the latest CNN debate, the candidates came to play, attacking the central bank with rhetorical broadsides usually reserved for enemies of the state. Print Comment Rick Perry

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-22804561694144817582011-10-22T15:25:00.001-07:002011-10-22T15:25:41.499-07:00

Former KC Fed President Thomas Hoenig is President Obama's pick for the No. 2 position at the FDIC. NEW YORK (CNNMoney) -- A conservative critic of "too big to fail" banks has been tapped for a key position to do something about them. Thomas Hoenig, a former Federal Reserve bank president, will be nominated by President Obama to become vice chairman at the Federal Deposit Insurance Corp., the

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-83252667869104566052011-10-21T15:12:00.001-07:002011-10-21T15:12:29.076-07:00

Libyan mansion is home to Libya's U.N. ambasador and long a sore spot for Englewood, N.J. WASHINGTON (CNNMoney) -- When Libya first bought a 25-room, 1906 mansion in suburban New Jersey, the community was in an uproar. Now, for the first time in nearly 30 years, the mansion known as Thunder Rock may get a little more love -- if it's used to help usher in a new era of what many hope to be

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-41180910430220414692011-10-20T15:17:00.001-07:002011-10-20T15:17:32.838-07:00

Brazil just cut interest rates for the second time in less than two months. Some think China, as well as Russia and India, may follow suit to try and help the U.S. and global economy. NEW YORK (CNNMoney) -- Brazil is one of the world's hottest economies. But even it is feeling a need to cut interest rates in response to a slowdown in the developed world. Despite the fact that inflation is

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-7039781175418231592011-10-19T15:37:00.001-07:002011-10-19T15:37:23.631-07:00

The rank-and-file UAW members at Ford Motor are now voting in favor of a tentative labor deal there. NEW YORK (CNNMoney) -- The possibility of a strike at the nation's No. 2 automaker seems to have been averted over the weekend as the tentative agreement between Ford Motor and the United Auto Workers now appears likely to pass a ratification vote of rank-and-file union members. Going into the

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-3146787976431049412011-10-18T15:18:00.001-07:002011-10-18T15:18:19.662-07:00

Former Sens. Byron Dorgan, a Democrat, and Judd Gregg, a Republican, come together to urge the debt committee to have the "courage" to really tackle the debt. Former Sen. Byron Dorgan, a Democrat from North Dakota, served in Congress for 30 years. Former Sen. Judd Gregg, a Republican from New Hampshire, served in Congress for more than 20 years and was his state's governor for two terms.

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-30559651487844375452011-10-17T15:16:00.001-07:002011-10-17T15:16:16.545-07:00

The letter carriers' union has hired a former Obama administration official and an investment adviser to help preserve the Postal Service. WASHINGTON (CNNMoney) -- One of the big postal worker unions has hired new help to save the U.S. Postal Service -- Ron Bloom, one of the advisors who helped steer the U.S. automakers out of bankruptcy. The National Association of Letter Carriers said

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-67215417707283078732011-10-16T15:12:00.001-07:002011-10-16T15:12:05.332-07:00

Because of ramapant oil speculation. Americans will spend $600 more on gasoline in 2011, hitting a record $2,900 per household, according to the Consumer Federation of America. NEW YORK (CNN) -- Oil market speculation will cost U.S. households more than ever in 2011, a consumer group predicts, and the drain on household incomes will increase unless government rules to curb it are imposed. "

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-5364166893584276472011-10-15T15:15:00.001-07:002011-10-15T15:15:23.631-07:00

Will a foreign profits tax break help the economy? NEW YORK (CNNMoney) -- In a time of high unemployment, slow growth and record debt, there's been a renewed push by many on Capitol Hill to give companies a tax break if they bring their foreign profits home. The problem is there is very little agreement on whether a foreign profits tax break would help the economy. Print Comment Proponents

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-14903150606120580832011-10-14T15:11:00.001-07:002011-10-14T15:11:03.696-07:00

NEW YORK (CNNMoney) -- The highest inflation rate in three years put a squeeze on consumers' wallets in August, according to the government's key price measure. The Consumer Price Index rose 3.8% in the month compared to a year earlier. That's up from 3.6% in July and is the highest reading since September 2008. Print On a month-to-month basis, prices rose 0.4% in August, twice the rate of

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-45165571490677998792011-10-13T15:29:00.001-07:002011-10-13T15:29:17.407-07:00

Washington (CNN) -- A member of Congress and other House Democrats are asking the U.S. Attorney General to investigate whether American banks have illegally gotten together to raise fees charged to consumers for banking services. Rep. Peter Welch of Vermont, the Democratic Chief Deputy Whip in the House of Representatives, told reporters Thursday he has sent a letter to Attorney General Eric

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-51992210855244091602011-10-12T15:16:00.001-07:002011-10-12T15:16:52.810-07:00

New York City could lose 10,000 financial securities jobs by the end of 2012, according to the state comptroller. NEW YORK (CNNMoney) -- The New York state comptroller expects Wall Street to lose 10,000 jobs by the end of 2012. The job losses are projected to occur in New York City's securities industry from now through December, 2012, according to Eric Sumberg, press spokesman for state

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-30864384329467870052011-10-10T15:07:00.001-07:002011-10-10T15:07:30.828-07:00

President Obama said Thursday that he's "comfortable" with Senate Democrats' millionaire tax proposal. NEW YORK (CNNMoney) -- If Senate Democrats have their way, millionaires and billionaires will pay more in taxes for President Obama's jobs bill. How much? Answer: $110,467 a year. Print Comment That's the average additional amount they would owe in federal taxes starting in 2013, according

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-26596332930731409012011-10-09T15:23:00.001-07:002011-10-09T15:23:25.746-07:00

Some U.S. politicians are complaining that China has kept its currency artificially low. But the yuan is actually up against the dollar and euro in 2011. Click chart for more on currencies. NEW YORK (CNNMoney) -- A newsflash to the legislators in Washington who suddenly want to act tough against China for currency manipulation: Have you looked in the mirror lately? How can anyone with a

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-5499379164531478252011-10-08T15:11:00.001-07:002011-10-08T15:11:37.393-07:00

Teachers are losing their positions as local government jobs disappear. NEW YORK (CNNMoney) -- The kids are back in school, but the teachers aren't. Educators and other local government workers are not celebrating the rosier-than-expected jobs report released Friday. While the nation added 103,000 jobs last month, public schools lost 24,400 positions -- the most of any category. Local

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-57287064128128641012011-10-07T15:16:00.001-07:002011-10-07T15:16:44.386-07:00

Even though the economy is growing again, the percentage of people out of work or without a full-time job is only slightly below the peak levels from the recession. NEW YORK (CNNMoney) -- Summer may be over but it's still time to fire up the grill. I've been referring to the tepid state of the economy as the barbecue recovery for more than a year now. It's going to be low and slow. (Should

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-40394050453320822242011-10-06T15:21:00.001-07:002011-10-06T15:21:13.290-07:00

NEW YORK (CNNMoney) -- The holiday season is barely underway, and retailers are already expressing a ho-hum attitude towards hiring. Retailers are expected to hire just 480,000 to 500,000 seasonal workers this year, according to a report released Thursday by the National Retail Federation. That's in line with the 495,000 seasonal employees they hired last year, but still far from pre-recession

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-91412086608866058112011-10-05T15:21:00.001-07:002011-10-05T15:21:38.997-07:00

NEW YORK (CNNMoney) -- Fed chief Ben Bernanke told a panel of Congress on Tuesday that the central bank expects growth in the second half of the year to be "more rapid" than the first half of the year, but says the economy still faces headwinds. During a hearing before the Joint Economic Committee, the Federal Reserve Board chairman also said that the Fed expects a slower pace of economic growth

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-30442507382377089512011-10-04T15:09:00.001-07:002011-10-04T15:09:18.175-07:00

NEW YORK (CNNMoney) -- Home prices in July climbed for the fourth month in a row, but are still down from a year ago. According to the latest S&P/Case-Shiller home price index of 120 major cities, prices rose 0.9% in July compared with June, but they're still 4.1% lower than 12 months ago. Print Comment "We are far from a sustained recovery" said S&P spokesman David Blitzer. "Continued

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-29627514305176592522011-10-03T15:13:00.001-07:002011-10-03T15:13:22.596-07:00

A federal mortgage program to help the unemployed is ending. NEW YORK (CNNMoney) -- The federal government can't even give money away to help the unemployed pay their mortgage. A $1 billion program to assist the jobless will likely end up spending only half the funds, at most, because so few people met the strict criteria. Print Comment The Housing Department, which had to approve the

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-32960483608164052082011-10-02T15:27:00.001-07:002011-10-02T15:27:57.612-07:00

Public sector employees carry a banner, reading: "No Layoffs," as they demonstrate outside the Greek Parliament last month. NEW YORK (CNNMoney) -- The Greek cabinet announced late Sunday that it adopted a draft budget for 2012, but the debt-ridden nation will miss key deficit targets for this year and next. According to this preliminary budget, Greece's budget deficit will be 18.69 billion

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-14192727825747933512011-09-30T15:27:00.001-07:002011-09-30T15:27:16.969-07:00

NEW YORK (CNNMoney) -- The U.S. economy is staring down another recession, according to a forecast from the Economic Cycle Research Institute. "It's either just begun, or it's right in front of us," said Lakshman Achuthan, the managing director of ECRI. "But at this point that's a detail. The critical news is there's no turning back. We are going to have a new recession." Print Comment The

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NEW YORK (CNNMoney) -- Belt-tightening continued in cities across the United States in 2011, as fiscal crunches forced local governments to cut back. City revenues are projected to decline 2.3% by the end of 2011, according to a new report from the National League of Cities released Tuesday, marking the fifth straight year of declines. One of the main factors contributing to the decline in

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-8129730678318029672011-09-28T16:01:00.001-07:002011-09-28T16:01:25.404-07:00

New Jersey Gov. Chris Christie cut tax credits for MTV's hit show Jersey Shore. NEW YORK (CNNMoney) -- Hey Snooki, you're not welcome on the Jersey Shore. New Jersey Gov. Chris Christie cut $420,000 in tax credits Monday that would have gone to 495 Productions, the company responsible for bringing the escapades of "Pauly D" and "The Situation" to the masses via MTV. Print Comment Christie

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NEW YORK (CNNMoney) -- So much for getting Labor Day weekend off to a good start. The economy added no jobs in August, the Labor Department said Friday. Print Zero, zilch, nada. Meanwhile, the unemployment rate remained at 9.1%. "We expected a weak report, and what we got was even weaker," said Patrick O'Keefe, director of economic research at J.H. Cohn. The report was partially helped by

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NEW YORK (CNNMoney) -- Home prices made a comeback during the second quarter, but the struggling housing market isn't out of the woods yet. Prices rose a substantial 3.6%, compared with the three months ended March 31. But home prices are still down 5.9% compared with the second quarter of 2010. Print The rise in home prices came after three consecutive quarters of drops, as reported by the S&

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-84488057239040897792011-09-25T15:13:00.001-07:002011-09-25T15:13:43.286-07:00

0:00 / 10:49 Bill Clinton: How to create jobs now NEW YORK (CNNMoney) -- Former President Bill Clinton has a plan to put the country back on track, and he has written a book about it. Titled "Back to Work," the book includes specific ideas about getting Americans working again. Among the topics Clinton tackles are how to increase lending, support new businesses, jumpstart the beleaguered

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Consumer spending was flat in August compared to the month prior. NEW YORK (CNNMoney) -- Consumers kept a firm grip on their wallets in August, threatening to stall further the already slowing economic recovery. Retail sales were unchanged in August, less than the 0.2% increase that economists were expecting, according to consensus estimates from Briefing.com. Print Also, the boost in retail

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-65077426001712419342011-09-23T15:24:00.001-07:002011-09-23T15:24:12.040-07:00

NEW YORK (CNNMoney) -- FedEx ( FDX , Fortune 500) stock fell to its lowest level since December 2008 on Thursday. Shares tumbled after the package delivery company warned investors that it expects to earn less than it previously thought for the current fiscal year due to a weak economy and a drop in demand, particularly in Asia. Print Comment FedEx stock was down to $66.19 a share, an 8.8%

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NEW YORK (CNNMoney) -- This is the statement of the minutes of the Federal Open Market Committee meeting released September 21, 2011. Information received since the Federal Open Market Committee met in August indicates that economic growth remains slow. Recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated. Print Comment

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Sales of existing homes jumped 7.7% in August and were up 18.6% compared to the same time a year ago, a report said. NEW YORK (CNNMoney) -- Home buyers are starting to creep back into the housing market, lured by rock-bottom prices. Sales of existing homes rose 7.7% last month to an annual rate of 5.03 million homes, from 4.67 million homes in July, according to the National Association of

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-79914630283290203142011-09-20T15:27:00.001-07:002011-09-20T15:27:25.071-07:00

IMF director Christine Lagarde speaks at the Woodrow Wilson Center in her first public address since her appointment Sept. 15, 2011. NEW YORK (CNNMoney) -- The International Monetary Fund has lowered its global growth outlook, warning that "the global economy is in a dangerous new phase." The IMF, a global financial institution comprising 187 nations, released excerpts from the latest edition

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-32491752577582487202011-09-19T15:20:00.001-07:002011-09-19T15:20:16.927-07:00

Dean Baker is co-director of the Center for Economic and Policy Research. Jagdish Bhagwati is University Professor of Economics and Law at Columbia University. The notion of international trade in health care may seem strange. The issue may also seem far removed from the current policy preoccupations in Washington. Print However, we believe it is finally time trade played a central role in

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Christine Lagarde, director of the IMF, says debt is crushing advanced nations. WASHINGTON (CNNMoney) -- International Monetary Fund Managing Director Christine Lagarde sounded the alarm Thursday that global economies are in a "dangerous phase," in her first major speech in Washington since taking over as fund chief. "Exactly three years after the collapse of Lehman Brothers, the economic skies

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-27212221440077641942011-09-17T15:16:00.001-07:002011-09-17T15:16:41.974-07:00

New York City Mayor Michael Bloomberg, shown here during his September 11 tenth anniversary address, fears that joblessness could lead to riots. NEW YORK (CNNMoney) -- New York City Mayor Michael Bloomberg is worried that high U.S. unemployment could lead to the same kind of riots here that have swept through Europe and North Africa. "You have a lot of kids graduating college, [who] can't find

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-36751445763997574632011-09-16T15:19:00.001-07:002011-09-16T15:19:54.151-07:00

President Obama is expected to lay out his preferred options for debt reduction on Monday. NEW YORK (CNNMoney) -- President Obama's debt reduction plan is set to land Monday in the laps of the 12 members of the Congress' bipartisan debt committee. In recent weeks the president has said his plan would offer specific proposals that can achieve savings "more ambitious" than the committee's $1.5

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-48541821528326674602011-09-15T15:22:00.001-07:002011-09-15T15:22:58.270-07:00

WASHINGTON (CNN) -- Hundreds of mail-handling facilities have been named in a shutdown list released Thursday by the U.S. Postal Service as the agency tries to fight massive red ink. The potential closings are the latest chapter in a fundamental overhaul of the agency that could also mean closing thousands of smaller post offices across the country and cutting tens of thousands of Postal

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-61561917414289170852011-09-14T15:27:00.001-07:002011-09-14T15:27:41.561-07:00

More college graduates are filing for bankruptcy, according to the Institute for Financial Literacy. NEW YORK (CNNMoney) -- Bankruptcy has gotten more educated over the past five years, as financial distress spread to more of the population with college degrees, according to study results released Tuesday. "The Great Recession has had a dramatic impact on the bankruptcy filings of American

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-33975832443241057902011-09-13T15:28:00.001-07:002011-09-13T15:28:11.308-07:00

NEW YORK (CNNMoney) -- Amid a still struggling economy, more people in America fell below the poverty line last year, according to new census data released Tuesday. The nation's poverty rate rose to 15.1% in 2010, its highest level since 1993. In 2009, 14.3% of people in America were living in poverty. Print Poverty in America "The results are not surprising given the economy," said Paul

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-80775005657733689162011-09-12T15:21:00.001-07:002011-09-12T15:21:04.955-07:00

Salesman Charlie Davidson waits for customers to walk in to his electronics store in Miami, Fla. NEW YORK (CNNMoney) -- Americans are now as pessimistic about the U.S. economy as they were in the middle of the Great Recession. A key reading on consumer confidence plunged in August, to its lowest level since April 2009. The Conference Board, a New York-based business research group, said its

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-78582476438646164132011-09-11T15:24:00.001-07:002011-09-11T15:24:09.774-07:00

The prices Chinese consumers pay for goods and services rose 6.2% in August, according to a report out Friday. NEW YORK (CNNMoney) -- Rapidly rising prices in China finally started to slow in August, giving some relief to consumers in the world's second largest economy. China's Consumer Price Index -- a broad measure of prices for food, housing, clothing and other common items -- showed that

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-61815734693937097262011-09-09T15:16:00.001-07:002011-09-09T15:16:19.385-07:00

President Obama called for Congress to again extend help for the jobless. "At this time of prolonged hardship, you should pass it again -- right away." NEW YORK (CNNMoney) -- President Obama unveiled a stimulus plan Thursday night that he says will boost hiring and provide a jolt to the stalled economy if it becomes law. A mix of $253 billion in tax cuts and $194 billion in new spending, the

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-80182303855744593452011-09-08T15:31:00.001-07:002011-09-08T15:31:37.801-07:00

NEW YORK (CNNMoney) -- Everyone agrees -- fixing the tax code is imperative. Many believe a simpler, smarter tax code can help reduce the country's debt burden by generating a more competitive economy and by raising more revenue through lower tax rates and a broader base of what's taxed. Print What's more, many say it's hard to address all the problems facing the entitlement programs without

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-65866175986659787422011-09-07T15:22:00.001-07:002011-09-07T15:22:12.961-07:00

WASHINGTON (CNNMoney) -- President Obama's nominee to run the Consumer Financial Protection Bureau got a hearing on Tuesday, but that may be all he gets. Democrats want Richard Cordray to be the consumer bureau's first director. Republicans say they haven't changed their mind -- they won't confirm any director to run the bureau without significant changes to the bureau's structure, which would

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-5587935767009550492011-09-06T15:25:00.001-07:002011-09-06T15:25:46.912-07:00

Kenneth Feinberg, who oversaw the $7 billion compensation fund for Sept. 11 victims, said the fund was "unique in American history." NEW YORK (CNNMoney) -- The terrorist attacks of September 11, 2001, were unprecedented, not only in their intensity and devastation, but in the way Washington responded. Eleven days after the attacks claimed more than 2,700 lives, Congress created a $7 billion

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-49508482280028629112011-09-05T15:13:00.001-07:002011-09-05T15:13:29.753-07:00

Consumer confidence still hasn't fully recovered from the recession, but in July, optimism about future business conditions and jobs picked up slightly. NEW YORK (CNNMoney) -- Consumers aren't exactly feeling rosy about the economy, but in July, their confidence picked up slightly as they hung their hopes on an improving job market in the future. The Conference Board, a New York-based business

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-43125406177819270402011-09-04T15:50:00.001-07:002011-09-04T15:50:08.499-07:00

President suspends a new ozone requirment after fierce criticism from Republican lawmakers -- and after the economy posts zero new jobs in August. NEW YORK (CNNMoney) -- After weeks of Republican attacks on the Obama administration's tightening of environmental regulations, the president said Friday he would halt a planned increase in clean air standards. In a statement released just hours

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-66841548281847904942011-09-03T15:28:00.001-07:002011-09-03T15:28:26.553-07:00

Jewelers are shunning pricey gold and embracing cheaper metals like tungsten, cobalt, even stainless steel for making items like wedding bands. NEW YORK (CNNMoney) -- Forget about sentimentality and tradition. Skyrocketing gold prices have jewelers and cash-strapped couples clamoring for wedding bands made of less expensive metals like tungsten, cobalt and even stainless steel. Print Over the

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NEW YORK (CNNMoney) -- As if Friday's report that showed job creation at a dead stall wasn't bad enough, economists say the worst could be yet to come. That's because high unemployment could be a warning sign -- and the cause -- of the country falling into a double dip recession. Print Most economists weren't ready to call a new recession yet. But many were raising the odds of one. They're

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-61292292998410776612011-09-01T15:22:00.001-07:002011-09-01T15:22:39.851-07:00

Initial claims for unemployment benefits fell to 409,000 in the week ending Aug. 27, the Labor Department said Thursday. NEW YORK (CNNMoney) -- Filings for unemployment claims dipped last week, after striking Verizon employees went back to work. The number of first-time filers for unemployment benefits fell to 409,000 in the week ending Aug. 27, the Labor Department said Thursday. That's

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-12790400053207156282011-08-31T15:29:00.001-07:002011-08-31T15:29:29.647-07:00

Tropical Storm Irene was the first to make direct contact on New Jersey in 108 years, flooding towns like Pompton Lakes. NEW YORK (CNNMoney) -- Swaths of the Northeast still submerged under water face an arduous recovery as hundreds of homes remain clogged with mud and crushed roads isolate deluged communities. East coast residents and insurers also face billions of dollars in damages from

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-33332380385958026772011-08-30T15:30:00.001-07:002011-08-30T15:30:36.273-07:00

Consumers picked up their spending 0.8% in July, a slightly encouraging sign for the economy after they cut back just a month before. NEW YORK (CNNMoney) -- After holding back the month before, American consumers spent their hard-earned money a bit more freely in July. Personal spending rose $88.4 billion, or 0.8% in July, after falling 0.1% in June, the Commerce Department reported Monday.

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-12751179541051702022011-08-29T15:17:00.001-07:002011-08-29T15:17:35.093-07:00

Food prices are up 4.2% and gas rose 33.6% over the last 12 months. Stripping out those items though, consumer prices are up 1.8%, according to government data released Thursday. NEW YORK (CNNMoney) -- Americans paid more for necessities like gas, food, clothing and shelter in July, as prices rose more than expected over the month. The Consumer Price Index, the government's key inflation

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-85109345202972195312011-08-28T15:24:00.001-07:002011-08-28T15:24:44.726-07:00

Analysts say up to 10% of the nation's refining capacity could be offline in the coming days thanks to Hurricane Irene. NEW YORK (CNNMoney) -- Hurricane Irene headed up the East Coast Saturday, threatening the nearly 10% of the nation's refining capacity that lies in Philadelphia, New Jersey and Delaware. Output for the refineries in the hurricane's path is over a million barrel per day,

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-1111726290984050042011-08-27T15:26:00.001-07:002011-08-27T15:26:28.794-07:00

NEW YORK (CNNMoney) -- It's easy to read the latest budget outlook from the Congressional Budget Office as further proof that the United States really needs to get serious about dealing with the national debt. But if that's all that lawmakers take away, they will have missed a big point. Print The CBO is not in the business of telling Congress what to do. But it is in the business of showing

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-30902403851245860922011-08-26T15:21:00.001-07:002011-08-26T15:21:19.216-07:00

A mortgage foreclosure settlement is being held up by a dispute among the states. WASHINGTON (CNNMoney) -- A deal to help victims of improper foreclosures has been slow going, in large part because of infighting among state attorneys general over giving banks a free pass from future lawsuits. The talks are between the attorneys general and federal agencies on one side, and the five largest

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A spike in aircraft orders in July lead to a rare piece of good economic news Wednesday. NEW YORK (CNNMoney) -- Strong aircraft orders in July resulted in a much stronger-than-expected reading for big ticket item orders, a rare piece of good news amid the string of disappointing economic readings in recent months. The Commerce Department reported a 4% jump in orders for durable goods, compared

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-28765763604178690622011-08-24T15:25:00.001-07:002011-08-24T15:25:58.736-07:00

President Obama asked agencies to eliminate outdated rules and regulations. WASHINGTON (CNNMoney) -- President Obama's budget office on Tuesday released its list of unneeded rules that will be rubbed off the books to save business some $10 billion over the next five years. The move is Obama's big nod to Big Business, and part of an ongoing effort by the White House to address complaints lobbed

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-34869549418675182562011-08-23T15:22:00.001-07:002011-08-23T15:22:59.744-07:00

Economists hope Fed Chairman Ben Bernanke will stand pat when he speaks in Jackson Hole, Wy., on Friday. NEW YORK (CNNMoney) -- Economists aren't looking for Federal Reserve Chairman Ben Bernanke to announce some new plan to rescue the struggling U.S. economy in a much-anticipated speech this Friday. In fact, most will be happy if Bernanke and the Fed decide to stand pat, despite growing fears

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-52204563681258339532011-08-22T15:20:00.001-07:002011-08-22T15:20:29.345-07:00

NEW YORK (CNNMoney) -- Oil prices are falling once again, and relief at the gas pump is likely on the way too. But be careful what you wish for. Low gas prices can sometimes be more a symptom of a weakening economy, than a cure to consumers' woes. Print Crude oil briefly dipped below $80 a barrel on Friday, about 30% below its peak at $113.90 in April. Meanwhile, gasoline prices -- which

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-19750767812942289192011-08-21T15:20:00.001-07:002011-08-21T15:20:35.945-07:00

GOP presidential hopeful Michele Bachmann blamed President Obama for increasing gas prices and said she would change that. NEW YORK (CNNMoney) -- President Michele Bachmann has a promise: $2 gas. "Under President Bachmann you will see gasoline come down below $2 a gallon again," Bachmann told a crowd Tuesday in South Carolina. "That will happen." Print Sure, politicians promise all kinds of

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-2790888210582488702011-08-20T15:27:00.001-07:002011-08-20T15:27:46.185-07:00

Click the chart for more on VIX. NEW YORK (CNNMoney) -- Wall Street's key measure of volatility, the VIX, soared 35% Thursday following a quartet of downbeat economic reports and a dour outlook from Morgan Stanley. The CBOE Volatility index ( VIX ) jumped to close at 42.7 as all three major U.S. stock indexes plummeted. A VIX reading higher than 30 is considered a sign that investors are

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NEW YORK (CNNMoney) -- The manufacturing sector nearly stood still in July, according to new data released Monday. The Institute for Supply Management, a purchasing managers group, said Monday its manufacturing index fell to 50.9 in July, down 4.4 points from June. Print Comment It marked the sector's slowest growth since July 2009. Economists immediately called it "shockingly weak," "

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The number of first-time filers for unemployment benefits rose more than expected last week to 408,000. NEW YORK (CNNMoney) -- The number of first-time filers for unemployment benefits rose more than expected last week and jumped back above the key 400,000 level, signaling that the job market remains stuck in the mud. There were 408,000 initial unemployment claims filed in the week ended Aug.

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-60014836648390919202011-08-17T15:20:00.001-07:002011-08-17T15:20:16.088-07:00

Minimizing the armed forces' dependence on oil saves soldiers' lives and the move towards renewables is a lifeline like no other for the green energy industry. (Click the image for more information.) NEW YORK (CNNMoney) -- One out of eight U.S. Army casualties in Iraq was the result of protecting fuel convoys. This statistic, derived from an Army study looking at fuel convoys in Iraq from 2003

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-39318820652877967052011-08-16T15:23:00.001-07:002011-08-16T15:23:31.692-07:00

U.S. household debt, which includes mortgages, home equity lines, credit cards, auto loans and student debt fell to $11.4 trillion in the second quarter of 2011. NEW YORK (CNNMoney) -- Consumer borrowing fell slightly in the second quarter, as Americans shed more of their debt. A new report released Monday by the New York Federal Reserve -- which looks at mortgages, home equity lines, credit

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-62400395764014791832011-08-15T15:25:00.001-07:002011-08-15T15:25:22.838-07:00

NEW YORK (CNNMoney) -- Credit rating agency Standard & Poor's downgrade of the U.S. sovereign debt rating on Aug. 5, which plunged stocks into a roller-coaster frenzy for the past week, didn't come as a surprise. S&P had warned the downgrade would occur if Congress couldn't agree to comprehensive deficit reduction as part of a deal to raise the debt ceiling. Print While S&P, a unit of

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-67712947231123086152011-08-14T15:15:00.001-07:002011-08-14T15:15:02.018-07:00

American consumers hit the stores in July, giving retail sales a modest boost in the month. NEW YORK (CNNMoney) -- Americans boosted their shopping in July, allaying -- for now -- fears of a consumer slowdown that might stall the economy. Retail sales rose 0.5% last month, aided by auto purchases, gasoline station sales and a jump in purchases of electronics, the Commerce Department said.

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-35059744779203268862011-08-12T15:21:00.001-07:002011-08-12T15:21:54.053-07:00

The number of first-time filers for unemployment benefits fell to 395,000 last week, the first time since April the figure has fallen below 400,000. NEW YORK (CNNMoney) -- At a time when the economy seems to be hanging by a thread, the Labor Department reported at least some better news about the job market Thursday. The number of first-time filers for unemployment benefits fell last week,

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-2531482381483889262011-08-11T15:26:00.001-07:002011-08-11T15:26:39.845-07:00

Senators John Kerry, Patty Murray and Max Baucus will join a Congressional debt-cutting committee formed as part of the debt-ceiling deal. WASHINGTON (CNN) -- Senate Majority Leader Harry Reid made his picks Tuesday for the Congressional "super committee" that will face the unenviable task of finding trillions to slice from the federal budget. Reid, a Democrat from Nevada, said that he would

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-36249142080886836482011-08-10T15:20:00.001-07:002011-08-10T15:20:06.259-07:00

NEW YORK (CNNMoney) -- May home prices in 20 major cities dipped 4.5% from one year ago, marking a continued decline in the already battered housing market. The S&P/Case-Shiller report posted declines in both its 20-city composite and its 10-city index, which declined 3.6% year-over-year. Print But housing did show some signs of life in May. Home prices ticked higher for the second consecutive

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-82702120951752015392011-08-09T15:15:00.001-07:002011-08-09T15:15:26.749-07:00

WASHINGTON (CNNMoney) -- Little is known about key details that led Standard & Poor's to downgrade U.S. debt late Friday, despite its outsized repurcussions. While the move knocking U.S. debt down a notch from the lofty AAA rating has exacerbated an already skittish stock market and drawn criticism from the White House, key details are a mystery. Print S&P doesn't say who, exactly, made the

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-41741818317380955052011-08-08T15:22:00.001-07:002011-08-08T15:22:17.946-07:00

NEW YORK (CNNMoney) -- Moody's Investors Service explained Monday why it was sticking with its triple-A bond rating and negative outlook for the United States, setting itself apart from Standard & Poor's, which downgraded the U.S. last week. Moody's said it expects the economy will improve and additional measures to reduce the budget deficit will be in place by 2013. The rating agency said

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-1430866197777997332011-08-07T15:27:00.001-07:002011-08-07T15:27:10.661-07:00

Teacher Rachel Zertuche is one of many who lost their jobs. NEW YORK (CNNMoney) -- The state and local government jobs sector held up surprisingly well in July, but it isn't reason to cheer. Some 39,000 government jobs were lost last month, the Labor Department said Friday. Many of them were state workers in Minnesota temporarily laid off during the 20-day state shutdown, as well as teachers

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-4563868711034531982011-08-06T15:22:00.001-07:002011-08-06T15:22:04.184-07:00

NEW YORK (CNNMoney) -- The downgrade of the United States' AAA credit rating will apply even greater pressure on Congress to follow through on plans to tame the nation's debt. Over the next few months, Washington is set to engage in a series of battles over the fiscal course of the federal government. Print And that debate will largely be carried out through a new bipartisan "super committee."

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-32444941018684665152011-08-05T15:23:00.001-07:002011-08-05T15:23:33.101-07:00

Sarkozy, Obama, Merkel and Cameron stand together. NEW YORK (CNNMoney) -- A sharp drop in manufacturing, a towering debt-to-GDP ratio and a jaw-dropping decline in equity markets. No -- not the United States. Europe! Print Many of the underlying tremors that led to this week's steep sell-off in the U.S. have been festering in plain sight in Europe for a year or more. Consider a few figures:

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.comtag:blogger.com,1999:blog-1073976721892620097.post-49600682833568987012011-08-04T15:21:00.001-07:002011-08-04T15:21:09.277-07:00

WASHINGTON (CNN) -- When you call customer service in the time ahead, chances should improve that you will reach someone in the United States, with a forecast of 100,000 new jobs at call centers to be created the next two years, according to the Federal Communications Commission. In an announcement expected Thursday at a call center in Jeffersonville, Indiana, FCC Chairman Julius Genachowski

Azeglio Calabresihttp://www.blogger.com/profile/17455762288892093286noreply@blogger.com