WASHINGTON - Home resales retreated in September from a two-year high, a reminder that America's housing sector is a long way from a full recovery despite recent signs of improvement. | Video
WASHINGTON - An idea percolating in the Congress, aimed at helping avoid the "fiscal cliff," would scrap the steep across-the-board spending cuts of $109 billion set to start on January 2 and replace them with more targeted savings of about $55 billion, according to aides familiar with the discussions.
WASHINGTON - A free-trade agreement between the United States and Panama will go into force at the end of this month after a years-long delay, likely boosting U.S. exports of everything from tractors to chicken legs.
- Cleveland Federal Reserve Bank President Sandra Pianalto did not comment on monetary policy or the economic outlook in remarks prepared for delivery to a Chicago Fed conference on payments.
NEW YORK - The unemployment rate fell last month in most states, including those considered undecided in the presidential election, data from the Labor Department showed on Friday.
19 Oct 2012
NEW YORK - Four top U.S. manufacturers, including General Electric Co and Honeywell International Corp , reported weaker-than-expected sales on Friday, in a fresh warning to investors that demand around the world remains sluggish. | Video
19 Oct 2012
SAN FRANCISCO - Investments by U.S.-based venture capitalists fell 12 percent last quarter to $6.49 billion, according to consultancy PricewaterhouseCoopers, the National Venture Capital Association, and Thomson Reuters, underscoring the toll an uncertain economy is taking on the venture industry.
19 Oct 2012
WASHINGTON - Top financial industry executives urged the Obama administration and Congress on Thursday to stop automatic fiscal austerity measures from kicking in at year-end, but did not propose fresh ideas for replacing those harsh budget and tax measures.
WASHINGTON - The number of Americans filing new claims for jobless benefits spiked last week, reversing a sharp decline in the prior week but still pointing to a labor market that is slowly healing.
NEW YORK - The Federal Reserve's balance sheet grew in the latest week with a jump in the holdings of agency mortgage-backed securities, Fed data released on Thursday showed.
18 Oct 2012
FOLLOW ECONOMY NEWS
Spain has averted a downgrade to junk status, for now.
San Bernadino’s move to skip its CalPERS payments is a game-changer. It opens the door to reducing pension payments for its current and future retirees. It’s likely that San Bernadino will encounter significant legal costs, but those costs must be weighed against potential savings. Many will ask how San Bernardino will deal with the exodus of police and firemen following this move. The truth is that the city will be able to hire many more employees at more reasonable salary and benefit-levels. It really shouldn’t cost a community over $200,000 to compensate a safety worker.
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