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The economy pulled out of a dangerous rough patch in the spring, thanks largely to strong exports, but the rebound isn't expected to last. Economic slowdowns overseas could make exports tail off just as Americans are hunkering down after the bracing impact of rebate checks wanes, plunging the country into another rut later this year. Complete Story...
Economy shifted to higher gear in the springDon't let corporations off the tax hookBloomberg mistakenly publishes Steve Jobs obituaryNatural gas cars: Clean, green, going nowhereYoung workers show poor commitment to saveThe Four Horsemen of Economic ApocalypseTo Avert Layoffs, Daily News, Inquirer Guild Postpones Raise
The top business news from The Associated Press for the morning of Thursday, August 28, 2008:
Sears Holdings Corp. said second-quarter profit fell 62 percent drop as the retailer continues to struggle to attract customers to its stores despite a high-stakes restructuring. The company also said that it expects that its sales and gross profit margins will continue to be pressured as it sees no near-term improvement in the economy.
Caterpillar Inc. expects record sales this year as booming demand for construction and mining equipment in China and other emerging economies offsets weakness in its home U.S. market, its chairman said Thursday.
Members of the United Steelworkers union have voted to give the union authority to launch a nationwide strike against ArcelorMittal, the world's largest steel producer, if ongoing contract negotiations fail.
A three-month trial that pitted Mattel Inc. against Bratz-maker MGA Entertainment Inc. brought a $100 million jury award for the house of Barbie, but the legal battle is far from over.
Sony Corp. President Ryoji Chubachi warned Thursday that stagflation — slowing economic growth and quickening inflation — in the U.S., Europe and Japan is beginning to undermine consumer demand in Asia.
Toyota lowered its global sales target for 2009 by 700,000 vehicles to 9.7 million Thursday, showing that even one of the world's most durable automakers is being hurt by rising material costs, a slowing U.S. market and soaring gas prices.
American workers' confidence in the job market is as low as it was during the 2001 recession, according to a survey released Thursday.
China and Iraq have signed a $3 billion deal revising a prewar agreement for China's biggest oil company to help develop the Ahdab oil field, an official at the Iraq's Oil Ministry said Thursday.
The number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month, the government said Thursday.
The Tennessee Valley Authority, faced with growing electricity demand and rising coal costs, asked regulators Wednesday to renew construction permits for two unfinished nuclear reactors it virtually abandoned 20 years ago.
Fannie Mae says three top executives are leaving as the mortgage finance company aims to cope with mounting losses from the mortgage crisis.
Argentina will meet all its debt obligations in 2008 and 2009, its Cabinet chief said Wednesday, addressing investor concerns that political tensions could reduce its budget surplus and slow its debt payments.
TiVo Inc. managed consecutive quarters of profitability for the first time ever despite eroding subscriptions, demonstrating that the pioneer in digital video recorders is on track in reducing marketing expenses and subsidies.
The federal public defender for South Carolina will handle the court appeal of Al Parish, the former college professor convicted of bilking hundreds of investors out of $66 million.
Federal regulators on Wednesday proposed a plan to allow public companies to begin using international accounting standards for reporting financial results in two years, and may require them to do so starting in 2014.
The New York attorney general's office said Wednesday it is investigating whether Fidelity Investments was given incentives by Goldman Sachs Group Inc. to sell auction-rate securities to investors.
"Lehman Brothers, the ailing Wall Street bank, plans to lay off as many as 1,500 employees, or nearly 6 percent of its work force, before it announces third-quarter results on Sept. 15, a person briefed on the plans said Thursday."
Unless their is a change soon, this could really cause values to fall further.
In case traditional news outlets "forget" to tell you, Uncle Sam announced this morning that second-quarter Gross Domestic Product (GDP) growth was revised sharply upward to 3.3% from the late July's advance estimate of 1.9%.
Despite two periods of recession in the past decade, U.S. worker productivity still rose 18% in the 2000s - about 2.5% per year, according to author Jared Bernstein, a widely followed economist from the liberal-leaning Economic Policy Institute.
China and Iraq have signed a $3 billion deal revising a prewar agreement for China's biggest oil company to help develop the Ahdab oil field, an official at the Iraq's Oil Ministry said Thursday.
Top executives at Starbucks Corp will not be getting raises anytime soon, after the coffee chain's first-ever quarterly loss as a public company.
"The U.S. economy grew at a solid 3.3 percent annual rate in the second quarter, much stronger than first thought, but many economists expect growth to flag as the year progresses." Good news, Atlast. Well, Maybe.
The U.S. government says the number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month.
Toyota lowered its global sales target for 2009 by 700,000 vehicles to 9.7 million Thursday, hurt by rising material costs, a slowing U.S. market and soaring gas prices.
Sears Holdings Corp. offered a downbeat outlook Thursday, predicting that sales and gross profit margins will likely continue to be pressured for the rest of the year.
Or 20 reasons why Pelosi and gang need to be "booted".
Henderson city officials and Nevada OSHA are investigating a construction site accident that left two workers seriously hurt.
The Occupational Safety and Health Administration has proposed $138, 500 in penalties for a Cullman-based company for 31 safety and health violations.
Tom Albert drove his loaner Chevrolet Equinox like any other car.
Among pro sports in the United States, tennis is a bit of a weakling.
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