Business

Job seekers seek solace with fellow faithful

This June 4, 2009 photo shows Sandra Friedrich, left, of Wenham, Mass. and Debbie Gonzalez of Saugus, Mass. praying during an unemployed support group meeting in Beverly, Mass. The group is one of several church-related unemployment support groups that have formed around the country as the jobless rate reaches heights not seen for decades. (AP Photo/Elise Amendola)
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AP - Fri Jul 3, 3:11 PM ET

BEVERLY, Mass. - Her fellow job seekers offer knowing groans as Diane Castro recalls the day she was laid off: The fear of being summoned to the front office. The phones in nearby cubicles going off like grenades. Finally, a ring at her desk.

Economy News

  • Canada finance minister says unemployment to rise AP - Fri Jul 3, 3:33 PM ET

    TORONTO - Canada's finance minister said Friday that the country's economic recovery will likely be modest and job losses will mount into 2010 even after growth has begun.

  • This June 4, 2009 photo shows Sandra Friedrich, left, of Wenham, Mass. and Debbie Gonzalez of Saugus, Mass. praying during an unemployed support group meeting in Beverly, Mass. The group is one of several church-related unemployment support groups that have formed around the country as the jobless rate reaches heights not seen for decades. (AP Photo/Elise Amendola)
    Job seekers seek solace with fellow faithful AP - Fri Jul 3, 1:47 PM ET

    BEVERLY, Mass. - Her fellow job seekers offer knowing groans as Diane Castro recalls the day she was laid off: The fear of being summoned to the front office. The phones in nearby cubicles going off like grenades. Finally, a ring at her desk.

  • The dollar climbed against the euro Friday after eurozone retail figures slipped back into a rut and as fresh worries about the health of the US economy supported the "safe-haven" greenback.(AFP/File/Bertrand Langlois)
    Dollar climbs after poor European retail sales AFP - Fri Jul 3, 12:38 PM ET

    LONDON, July 3, 2009 (AFP) - The dollar climbed against the euro Friday after eurozone retail figures slipped back into a rut and as fresh worries about the health of the US economy supported the "safe-haven" greenback.

Stock Markets News

  • Judge OKs continued freezing of financier's assets AP - Fri Jul 3, 1:06 PM ET

    LOS ANGELES - A federal judge has granted the Securities and Exchange Commission's request to continue freezing the assets of a California financier charged in a fraud case involving hundreds of millions of dollars.

  • Floor traders work at the Hong Kong Stock Exchange Friday, July 3, 2009 in Hong Kong. Asian stocks retreated Friday as a weaker-than-expected U.S. jobs report signaled more pain ahead for the world's largest economy. Losses across Asia were somewhat tame compared to Wall Street, where markets pulled sharply lower. Oil prices weakened further, while the dollar was little changed against the yen. (AP Photo/Kin Cheung)
    European stocks calm as US readies for 4th of July AP - Fri Jul 3, 12:34 PM ET

    LONDON - European stock markets traded in a narrow range Friday as investors caught their breath after big losses the day before on U.S. jobs data. Wall Street's closure for the Independence Day holiday kept trading volumes exceptionally light.

  • Teck helps lead TSX higher in quiet session Reuters - Fri Jul 3, 11:20 AM ET

    TORONTO (Reuters) - Toronto's main stock index rose on Friday morning, boosted in part by Teck Resources Ltd's equity sale to China Investment Corp.

Earnings News

  • A trader works the floor of the New York Stock Exchange June 23, 2009. REUTERS/Eric Thayer
    Earnings to set tone for stocks in week ahead Reuters - Thu Jul 2, 7:02 PM ET

    NEW YORK (Reuters) - With Wall Street stuck in a range since May, the start of second-quarter earnings season next week could prove to be a decisive factor for determining how much faith investors should have in an economic recovery.

  • DemandTec posts wider 1Q loss AP - Wed Jul 1, 6:16 PM ET

    SAN CARLOS, Calif. - Price-management software company DemandTec Inc. posted a wider net loss Wednesday for its fiscal first quarter, hurt by charges and higher costs even as revenue inched higher.

  • FILE - In this June 5, 2009 file photo, auction goers make their way past lots on display in the barrel room at the Robert Mondavi Winery during the Napa Valley wine auction in Oakville, Calif. Constellation Brands, whose brands include Robert Mondavi, said Wednesday, July 1, 2009, its first-quarter profit slid 85 percent partly on increased restructuring charges. Still, the wine company's adjusted results managed to surpass Wall Street's expectations. (AP Photo/Eric Risberg, File)
    Constellation Brands 1Q profit drops 85 percent AP - Wed Jul 1, 5:11 PM ET

    NEW YORK - Wine and spirits maker Constellation Brands Inc. said it is benefiting from consumers switching from higher-priced beverages to those that offer more buzz for the buck.

Industries

  • A view of the Volkswagen logo. Volkswagen hopes to turn out its first all-electric car in 2013, VW head Martin Winterkorn said Friday(AFP/File/Karen Bleier)
    Volkswagen plans electric car in 2013: head AFP - Fri Jul 3, 4:05 PM ET

    BERLIN (AFP) - German auto maker Volkswagen hopes to turn out its first all-electric car in 2013, VW head Martin Winterkorn said Friday.

  • Cummins reopening Ind. plant, while another closes AP - Fri Jul 3, 3:46 PM ET

    COLUMBUS, Ind. - Cummins Inc. is recalling 400 laid-off workers as it resumes production at a Columbus factory, while nearly 300 people lost their jobs as an auto parts company idled a plant in nearby Shelbyville.

  • U.S. group questions AstraZeneca's Crestor patent Reuters - Wed Jul 1, 12:16 AM ET

    WASHINGTON (Reuters) - A U.S. patent research group says it has uncovered evidence that could be used to declare AstraZeneca Plc's patent for its cholesterol fighter Crestor invalid.

Opinion

  • The Bleak U.S. Jobs Picture BusinessWeek Online - Fri Jul 3, 8:08 AM ET

    U.S. job losses in June rose to 467,000 as the national unemployment rate rose to 9.5%. This follows a decade where job creation in the private sector hovered in the 1% range. In our feature segment, Chief Economist Michael Mandel explains why job growth has stalled, its importance, and what can be done to reverse this trend. Plus, the latest on the troubled housing market and Wal-Mart's (wmt.) unusual alliance with a labor union.

  • Business Courses for Go-Getters BusinessWeek Online - Fri Jul 3, 8:08 AM ET

    In today's competitive job market, graduates fresh out of college are looking to stand out. The earlier they start to give themselves an edge, the better off they will be, which is why more undergraduate business courses are starting to address softer skills -- from improving communication to learning how to effectively use your creativity. Unique, hands-on courses that are part self-reflection, part theory, and part applied learning are best because they engage students and leave a lasting impression, say educators.

  • Portfolio Planning: A Case Study BusinessWeek Online - Fri Jul 3, 8:08 AM ET

    The market meltdown unmoored many a financial plan. With the portfolios of countless baby boomers a shadow of what they once were, BusinessWeek asked five top investment advisers to draft a plan that would enable a hypothetical couple to meet all of their financial obligations.

Most Popular Business News

  • Plant disease hits eastern US veggies early, hard AP - Fri Jul 3, 4:03 AM ET

    CONCORD, N.H. - Tomato plants have been removed from stores in half a dozen states as a destructive and infectious plant disease makes its earliest and most widespread appearance ever in the eastern United States.

  • Meltdown 101: Unemployment by the Numbers AP - Thu Jul 2, 5:36 PM ET

    WASHINGTON - How bad is the current recession? Here's one measure: the United States now has fewer jobs than it did nine years ago, even though the work force — the number of people either working or looking for work — has grown by 12.5 million people since then.

  • The soaring national debt is recorded on the National Debt Clock in New York, Friday, July 3, 2009. Already complicating efforts by President Barack Obama and Congress to cope with the worst recession in decades, economists warn that the mountain of debt easily could become the next full-fledged economic crisis without firm action from Washington. (AP Photo/Yanina Manolova)
    MOUNTAIN OF DEBT: Rising debt may be next crisis AP - 2 hours, 52 minutes ago

    WASHINGTON - The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt.