Economy News

WASHINGTON - It hurts more to be unemployed now than the last time the jobless rate hit 10 percent. Full Story »

WASHINGTON (AFP) - With unemployment fast becoming one of US President Barack Obama's biggest domestic challenges, focus is shifting from "too-big-to-fail" manufacturing and financial giants to struggling small businesses. Full Story »

ORLANDO, Fla. - Jason Rodriguez's marriage long ago went sour, his home taken in foreclosure, his job lost to incompetence, his finances sunk in bankruptcy. It was a "stress overload" for the man accused of a deadly shooting rampage at his former office, his lawyer said Saturday. Full Story »

ST ANDREWS, Scotland (Reuters) - Treasury Secretary Timothy Geithner on Saturday stressed the necessity of keeping global economic stimulus in place until recovery is assured and opposed the utility of a tax on financial transactions as a way to dampen risky bank behavior. Full Story »

WASHINGTON (Reuters) - The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount. Full Story »

WASHINGTON (AFP) - The jump in US unemployment above 10 percent for the first time since 1983 will pressure President Barack Obama to find additional stimulus to keep a fragile economic recovery on track, analysts say. Full Story »

CHARLOTTE, N.C - Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans. Full Story »

NEW YORK - Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the industry. Full Story »

NEW YORK - Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983. Full Story »

WASHINGTON - Consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions. Economists worry the declines in borrowing will drag on the fledgling recovery. Full Story »

OMAHA, Neb. - Paper gains on derivative contracts helped Berkshire Hathaway Inc. triple its third-quarter profit as its insurance businesses did well, but Warren Buffett's company said Friday that many of its other operating businesses struggled. Full Story »

NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer. Full Story »

WASHINGTON - President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump. Full Story »

WASHINGTON - Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World War II and warnings that next year will be even worse than previously thought. Full Story »

PROVIDENCE, R.I. - Unemployed Rhode Islanders can now collect jobless benefits for up to 99 weeks. Full Story »

WASHINGTON (Reuters) - U.S. President Barack Obama on Friday listed a range of fresh options being considered by the White House to spur growth after "sobering" news that unemployment spiked to a 26 1/2-year peak last month. Full Story »

WASHINGTON - The last time unemployment climbed past 10 percent, "The A-Team" was one of the top 10 TV shows and Michael Jackson was about to release "Thriller." Full Story »

NEW YORK - The safe-haven dollar got an immediate boost Friday after the government said the U.S. unemployment rate rose above 10 percent, but then gave back its gains in choppy trading as investors figured that a weak economy meant the Federal Reserve would keep interest rates at their current near-zero range for a long time. Full Story »