Economy News

WASHINGTON (AFP) - US household net worth rose for a second straight quarter in the July-September period as Americans reduced their debt by the largest amount on record, a Federal Reserve report showed Thursday. Full Story »

WASHINGTON - Banks borrowed slightly less from the Federal Reserve's emergency lending program over the past week. Full Story »

DETROIT - Ford Motor Co.'s current share price of around $9 is based on optimistic assumptions that could falter as the economy continues its recovery, a Credit Suisse analyst said in a report Thursday. Full Story »

PORTLAND, Ore. - Consumer spending remains sluggish as the economy weighs on shoppers. That is changing the landscape for this holiday season. Retailers, more than ever, are trying to find the most precise amount of inventory at the right price to drive sales and not leave them with an excess of unsold items at the end of the year. Full Story »

SACRAMENTO, Calif. - Exports from California, a key measure of the state's economic health, have increased for the second straight month. Full Story »

WASHINGTON (AFP) - The US trade deficit narrowed in October amid rising trade flows, official data showed Thursday, suggesting the global economic recovery is gaining traction. Full Story »

NEW YORK - Drugmaker Pfizer Inc. said Thursday it will extend for another year a program that provides free prescription medications to people who have lost their jobs. Full Story »

WASHINGTON (Reuters) - The U.S. economy is struggling against "headwinds" that mean the government must retain the ability to respond to unexpected crises, even as it starts to wind down emergency programs, Treasury Secretary Timothy Geithner said on Thursday. Full Story »

A look at economic developments and activity in major stock markets around the world Thursday: Full Story »

WASHINGTON (Reuters) - U.S. households' net worth rose $2.7 trillion to $53.4 trillion in the third quarter for a second straight quarterly advance, Federal Reserve data showed on Thursday, which may boost consumers' confidence to spend. Full Story »

WASHINGTON (AFP) - Democratic US House Speaker Nancy Pelosi said Thursday she hoped the US House of Representatives will vote "next week" on a new jobs bill to confront the soaring US unemployment rate. Full Story »

BOSTON - Spicy numbers make it easy to see emerging markets' allure: The average Latin American stock fund has more than doubled this year. Full Story »

WASHINGTON - House passes $1.1 trillion omnibus spending bill. Full Story »

WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits rose more than expected last week, but a surprise narrowing in the trade gap in October indicated the economy remained firmly on a steady growth path. Full Story »

FLINT, Mich. - Flint's mayor is following the White House's lead in seeking ideas for boosting the economy. Full Story »

WASHINGTON - The U.S. trade deficit unexpectedly narrowed in October as exports surged to the highest level in nearly a year. Growing exports, boosted by a weaker dollar, are expected to boost demand for American manufactured goods in coming months and provide important strength to the overall economic recovery. Full Story »

WASHINGTON (AFP) - New US claims for unemployment benefits rose in the past week but held below the level of 500,000, government data showed Thursday. Full Story »

WASHINGTON (Reuters) - The U.S. trade deficit narrowed unexpectedly in October as the weak U.S. dollar helped boost exports and demand for imported oil fell to its lowest daily level since January 2000, a Commerce Department report showed on Thursday. Full Story »