economy – News Stories About economy - Page 22

Mar 16, 2009 12:23 PM CDT

Obama Will Hit Tonight Show Again

(Newser) - Barack Obama will appear on The Tonight Show with Jay Leno this Thursday during his tour of Southern California, the New York Times reports. Obama was a guest on Leno during the campaign, but sitting presidents rarely appear on late-night television. Aides say Obama will address issues related to the...

Hard Times Again Push Irish Youth Abroad

Mar 16, 2009 9:20 AM CDT

Hard Times Again Push Irish Youth Abroad

Flatlining economy makes US, Britain, Canada attractive

(Newser) - After two decades of boom, Ireland’s economy has faltered and Irish youth are once again looking to distant shores for opportunity, the Los Angeles Times reports. Experts predict up to a 7% contraction this year for an economy that posted double-digit gains not too long ago, and, like their...

Spend, Baby, Spend
—or We're Sunk

OPINION

Mar 15, 2009 6:38 PM CDT

Spend, Baby, Spend —or We're Sunk

(Newser) - Our massive economy will remain stuck until hoarders open their wallets and "roll the dice" once again, Daniel Gross writes in Newsweek. Investors and consumers alike must regain their "penchant for gain and risk... some of the essence of what makes us American." Until that caffeinated, delirious...

Retail Giants
Likely to Shrink in '09

Mar 15, 2009 11:15 AM CDT

Retail Giants Likely to Shrink in '09

(Newser) - Retailers are fighting to survive in 2009, some more successfully than others. Some 73,000 stores could close their doors by year’s end. Forbes breaks down which chains are shrinking the fastest:

Ann Taylor: Catering to working women isn’t so great when unemployment’s at 8.1%. Expected

...

President:
Don't Worry About T-Bills

Mar 14, 2009 9:48 PM CDT

President: Don't Worry About T-Bills

Investors, especially China, should have 'absolute confidence'

(Newser) - T-bills are safe bets, says President Obama. In response to the much-publicized worry expressed by Beijing about its US assets, Obama today offered a clear response: "I think that not just the Chinese government, but every investor, can have absolute confidence in the soundness of investments in the United...

Noonan: Maybe Wall Street Was High on Xanax

OPINION

Mar 13, 2009 7:39 AM CDT

Noonan: Maybe Wall Street Was High on Xanax

Maybe money men were hopped up on anti-depressants

(Newser) - Peggy Noonan has a novel explanation for the crash (“or the great recession, or the collapse—it’s time it got its name”): What if the bankers were all hopped up on happy pills? Antidepressant use became widespread in New York after 9/11, she notes in the Wall ...

Obama: End 'Cycles
of Bubbles and Bust'

Mar 12, 2009 4:13 PM CDT

Obama: End 'Cycles of Bubbles and Bust'

(Newser) - President Obama told the chief executives of America's biggest companies today that the US has to end its "endless cycles of bubbles and busts," Bloomberg reports. "Instead, we must build this recovery on a foundation that lasts," Obama said in an address to the Business Roundtable....

US Household Wealth
Falls Record $5.1T

Mar 12, 2009 2:19 PM CDT

US Household Wealth Falls Record $5.1T

Combined five-quarter drop is nearly as big as US GDP for 2008

(Newser) - The wealth of US households fell at a record pace in the last quarter of 2008, as drops in home values and stock prices accelerated, Bloomberg reports. Net worth for households and non-profits fell $5.1 trillion to $51.5 trillion, nearly twice the decline between the second and third...

Companies Likely
to Drown in '09

OPINION

Mar 12, 2009 1:34 PM CDT

Companies Likely to Drown in '09

(Newser) - As the recession deepens, the Motley Fool lists companies it thinks aren’t long for this world. Some highlights:

Rite Aid: Management has twice lowered its 2009 outlook, Wal-Mart is threatening, and its acquisition of Brooks and Eckerd had some nasty unintended consequences.
Sirius: Remains unprofitable, and its big contracts

...

Summer Camp
on the Rocks in
Tough Economy

Mar 12, 2009 11:53 AM CDT

Summer Camp on the Rocks in Tough Economy

Tradition shaken as families' plans up in the air

(Newser) - As recession hits parents’ wallets, it’s forcing many to debate whether they can afford to send kids to summer camp, the Wall Street Journal reports. Camps are expecting more financial-aid requests, while parents look to day camps and cheaper nonprofit alternatives. “A number of camps say families are...

Towns, Counties Create Own Stimulus Plans

Mar 11, 2009 1:11 PM CDT

Towns, Counties Create Own Stimulus Plans

Economists see mixed results, but local boost can be psychological

(Newser) - Across the US, cities, states, and counties aren’t waiting for Uncle Sam to jumpstart the economy, the Wall Street Journal reports. Many have devised their own, often creative, methods of stimulating local economies. One Texas town, for example, has used its budget surplus to create 250 temporary, low-paying jobs,...

Mac: I'm No Rush, but Can't Support Obama on Economy

Interview

Mar 10, 2009 11:08 AM CDT

Mac: I'm No Rush, but Can't Support Obama on Economy

(Newser) - Unlike a certain talk radio host, John McCain is rooting for Barack Obama—they just don’t agree on much. In an interview with Politico, McCain says he’s trying to work with Obama; in the past week he’s appeared with him at a press conference and consulted with...

GOP Must Rethink 'Totally Misguided' Stance: Brooks

OPINION

Mar 10, 2009 10:41 AM CDT

GOP Must Rethink 'Totally Misguided' Stance: Brooks

Obstructionist strategy seems lame

(Newser) - The Republican response to the fiscal crisis is “totally misguided,” David Brooks writes in the New York Times. Republicans are opposing everything out of a belated sense of fiscal discipline, “at the one moment in the past 70 years when it is completely inappropriate,” he sighs....

Think Repo Men
Like Recession?
Think Again

Mar 10, 2009 9:51 AM CDT

Think Repo Men Like Recession? Think Again

Victims 'hide' cars, 'fight over them'

(Newser) - Repossession agents must thrive on recession, right? Wrong, reports the Wall Street Journal. “People are doing everything they can now to hold onto what they’ve got,” says the owner of an auto-recovery business, whose revenue plunged 23% in 2008. “Do you think they’re going to...

Bernanke:
Time to
Prevent
Next Crisis

Mar 10, 2009 9:32 AM CDT

Bernanke: Time to Prevent Next Crisis

(Newser) - Even as the financial crisis rages, Ben Bernanke says it’s time for broad regulatory reforms to stem future crises. Bernanke said today “too big to fail” institutions should be more tightly watched, perhaps by his Federal Reserve. He also admitted that the US hadn’t been prudent with...

Economy Has 'Fallen
Off a Cliff': Buffett

Mar 9, 2009 8:25 AM CDT

Economy Has 'Fallen Off a Cliff': Buffett

Billionaire investor sees recovery on far horizon, warns of inflation

(Newser) - Warren Buffett said today the US economy has “fallen off a cliff,” but guaranteed that 5 years from now “the machine will be running fine.” On CNBC, Buffett encouraged banks to “get back to banking,” saying they will have to earn their way out...

ABC Bets You Can Laugh at Recession

Mar 6, 2009 11:47 AM CST

ABC Bets You Can Laugh at Recession

Sitcom pilots follow a failed Wall Street exec, fired young bankers

(Newser) - Have you heard the one about the Wall Street millionaire who lost his job because of the collapsing economy, then had to actually hang out with his family? ABC is hoping you will want to next fall, when Kelsey Grammer will star as that modern-day Mr. Mom. The untitled project...

Unemployment Leaps to 8.1%

Mar 6, 2009 7:54 AM CST

Unemployment Leaps to 8.1%

(Newser) - Unemployment hit 8.1% in February, its highest level since late 1983, as employers cut 651,000 jobs, the government said today. That’s worse than the 7.9% analysts predicted, thanks to revised numbers from January and December that were much worse than originally reported. December’s revised loss...

College Grads Facing Worst Job Market in 7 Years

Mar 4, 2009 6:10 PM CST

College Grads Facing Worst Job Market in 7 Years

Experts say situation unlikely to improve by fall

(Newser) - Employers will hire 22% fewer graduates this spring compared to last year—making this year’s dropoff the largest since the 9/11 attacks and the dot-com bust devastated the economy in 2002, BusinessWeek reports. And the situation could worsen, with 46% of employers unsure if hiring levels will rebound by...

Virgin's Stores Go Way of Dodo

Mar 4, 2009 9:57 AM CST

Virgin's Stores Go Way of Dodo

In US

(Newser) - America's last six Virgin Megastores will close their doors by this summer, the AP reports, even though they’ve managed to remain profitable amidst the economic storm. The real estate firms that bought the chain in 2007 determined they could collect more rent from new tenants. “I’ve been...