Economy News

TAIPEI, Taiwan - Taiwan's economy contracted at a slower pace year-on-year in the third quarter and the government raised its growth forecast for 2010 as rising demand from mainland China spurs a recovery. Full Story »

TOKYO - The dollar tumbled to 14-year low against the yen Thursday, adding to pressure on Japan's beleaguered exporters, amid indications U.S. interest rates will remain low and the Federal Reserve isn't overly concerned about the dollar's slide. Full Story »

WASHINGTON (AFP) - President Barack Obama vowed to put the US economy back on track in his Thanksgiving address to the nation Thursday, but admitted there were still too few jobs being created. Full Story »

BEIJING - China's stimulus spending has fueled massive overexpansion in industrial capacity that could drive a surge in low-priced exports amid weak global demand, possibly igniting a protectionist backlash abroad, a European business group warned Thursday. Full Story »

CHICAGO - There's still family, turkey and football, but one Thanksgiving tradition is taking a hit this year. Millions of Americans are spending the holiday at home, saying the poor economy has made it unaffordable to hit the road or board a plane. Full Story »

TAIPEI (AFP) - Taiwan's cabinet on Thursday approved infrastructure projects worth nearly four trillion Taiwan dollars (125 billion US), to be rolled out over eight years in a bid to boost its economy. Full Story »

BIG BAY, Michigan (Reuters) - Standing on the marshy ground at Eagle Rock in the remote woods of Michigan's Upper Peninsula, it's hard to imagine that beneath one's feet is a lump of nickel worth billions of dollars. Full Story »

SAN FRANCISCO (Reuters) - Los Angeles must take dramatic steps in coming months to bring its budget back into balance, including measures to slim the size of its government and reduce how much it spends on pensions for retired employees, the city's top budget official said on Wednesday. Full Story »

WASHINGTON (Reuters) - Several congressional Democrats said on Wednesday they plan to introduce legislation next week to cap credit card interest rates. Full Story »

DUBAI/NEW YORK (Reuters) - Dubai said on Wednesday two of its flagship firms planned to delay repayment on billions of dollars of debt as a first step toward restructuring Dubai World, the conglomerate that spearheaded the emirate's breakneck growth. Full Story »

WASHINGTON - A flurry of good news this week — including falling jobless claims, stronger consumer spending and higher new-home sales — suggests the economic rebound, modest though it is, might just be here to stay. Full Story »

JACKSON, Miss. - Union leader Brenda Scott worries some current state workers will be shoved into the unemployment line if Mississippi legislators adopt Gov. Haley Barbour's proposed budget. Full Story »

WASHINGTON (Reuters) - U.S. consumer spending and home sales rose more than expected in October, while new claims for jobless benefits fell sharply last week, suggesting the economic recovery was gaining traction. Full Story »

CHAMPAIGN, Ill. - Deere and Co. says sales of tractors, combines and other agricultural mainstays slumped in the fourth quarter and it expects farmers to remain cautious about new equipment purchases because of the weak global economy. Full Story »

NEW YORK (Reuters) - A handful of banks have told the Federal Reserve they could do more to support the central bank's exit from its emergency cash infusions if a key accounting rule was changed, according to a person familiar with the situation. Full Story »

WASHINGTON (Reuters) - President Barack Obama is paying a price for a recession that began before he took office, and fellow Democrats have started to balk at his legislative agenda and demand greater efforts to create jobs. Full Story »

CHICAGO - The jobless rate rose in most Illinois metropolitan areas in October. Full Story »

NEW YORK - "Up in the Air" has undergone the rarest of flights: It was delayed for a long time and its course was altered, yet it has arrived right on time. Full Story »