Economy News

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  • Obama urges bipartisan effort to boost jobs

    Reuters – Wed Dec 9, 5:19 pm ET  

    WASHINGTON (Reuters) - President Barack Obama called for bipartisan cooperation on his plans to boost U.S. jobs on Wednesday, but Republicans sounded skeptical and the White House made no mention of the eventual cost of the package. Full Story »

  • Wholesale inventories, mortgage demand rise

    Reuters – Wed Dec 9, 4:52 pm ET  

    WASHINGTON (Reuters) - U.S. wholesalers started restocking in October for the first time in more than a year, suggesting the economy could get a lift as a long-running effort by businesses to pare inventories reaches an end. Full Story »

  • U.S. extends bailout fund, sees economic challenges

    Reuters – Wed Dec 9, 4:13 pm ET  

    WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner on Wednesday extended the government's $700 billion financial bailout fund to October 2010, saying it was still needed for "significant challenges" in the economy. Full Story »

  • Experts: in bad times, welfare safety net faulty

    AP – Wed Dec 9, 4:09 pm ET  

    WASHINGTON - The 1996 law that ended an American's right to welfare also frayed the safety net for some people trying to cope with the current recession. Full Story »

  • Treasury will share more data on bailouts, taxes

    AP – Wed Dec 9, 3:15 pm ET  

    WASHINGTON - The Treasury Department will be giving the public more data about tax returns, bailout transactions and bank supervision as part of an Obama administration push to improve government transparency. Full Story »

  • Obama still hopes for bipartisan support on jobs

    AP – Wed Dec 9, 2:55 pm ET  
    President Barack Obama speaks about jobs and the economy, Wednesday,... AP

    WASHINGTON - Despite Republican opposition on Capitol Hill, President Barack Obama said Wednesday that he's still hoping for bipartisan support for his efforts to use financial bailout money to help small businesses and bring down double-digit unemployment. Full Story »

  • Wealth advisers sell amid slump to survive: study

    Reuters – Wed Dec 9, 2:28 pm ET  

    CHARLOTTE, North Carolina (Reuters) - Once driven by their desire for an up-front profit, wealth advisers have been selling their firms out of fear they may not survive the economic downturn, an industry study released Wednesday said. Full Story »

  • Gannett 'comfortable' with high end of 4Q outlook

    AP – Wed Dec 9, 2:20 pm ET  

    NEW YORK - Newspaper publisher Gannett Co. said Wednesday it is "clearly comfortable" with the high end of its fourth-quarter earnings guidance range and has successfully made it through an unprecedented economic environment in 2009. Full Story »

  • Obama to give $600 million to health centers

    Reuters – Wed Dec 9, 2:07 pm ET  
    President Barack Obama greets people attending the Nobel Banquet... AP

    WASHINGTON (Reuters) - President Barack Obama said Wednesday he will allocate nearly $600 million from the $787 billion economic stimulus plan to help create jobs at 85 community health centers. Full Story »

  • US extends bailout authority to October 2010

    AFP – Wed Dec 9, 1:55 pm ET  
    US Treasury Secretary Timothy Geithner, seen here in October... AFP/File

    WASHINGTON (AFP) - US Treasury Secretary Timothy Geithner on Wednesday extended the authority of a 700-billion-dollar financial bailout to October 2010 even as he noted the program would cost less than expected. Full Story »

  • Study finds upside in Calif. budget cut failures

    AP – Wed Dec 9, 1:16 pm ET  

    LOS ANGELES - California officials' failure to cut as much spending as they planned during this year's budget negotiations will put a drag on the state's economic recovery when deferred job cuts are enacted to plug a still-gaping deficit, according to an economic forecast released Wednesday. Full Story »

  • U.S. mortgage applications driven up by refinancings

    Reuters – Wed Dec 9, 11:54 am ET  
    FILE - In this Feb. 23, 2009 file photo, a home is seen in San... AP

    NEW YORK (Reuters) - Demand for U.S. home loans rose last week to the highest level in about two months, mostly from borrowers taking advantage of low mortgage rates to refinance, the Mortgage Bankers Association said on Wednesday. Full Story »

  • Do-it-yourself holiday gifts cost less, mean more

    AP – Wed Dec 9, 10:58 am ET  
    This photo taken Nov. 18, 2009 shows Jenny Bosben using faux... AP

    If ever there has been a year to give a homemade holiday gift, this is it. The economy's in the dumps and budgets are tight. Gift-givers have to be more creative than ever if they want to delight their friends and family with something unusual. Full Story »

  • Mississippi companies seek 'free port exemption'

    AP – Wed Dec 9, 10:51 am ET  

    GREENVILLE, Miss. - The Delta Economic Development Center and some local industries have asked Washington County supervisors for a break on inventory taxes. Full Story »

  • Oklahoma Lottery sales hurt by lagging economy

    AP – Wed Dec 9, 10:15 am ET  

    OKLAHOMA CITY - Lottery ticket sales declined about $11.3 million in the past fiscal year, mainly because of a downturn in the economy, Oklahoma officials said. Full Story »

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