More Economy Articles

  • Obama wants limits on US company mergers abroad

    LOS ANGELES (AP) — Staking out a populist stand ahead of the midterm elections, President Barack Obama on Thursday demanded "economic patriotism" from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers. "I don't care if it's legal," Obama declared. "It's wrong."...

  • Union Pacific 2Q profit chugs ahead 17 percent

    OMAHA, Neb. (AP) — Union Pacific Corp. said Thursday that its quarterly profit climbed 17 percent as the railroad hauled 8 percent more freight and raised shipping rates. The Omaha, Nebraska-based company said it hauled more agricultural, automotive, intermodal, industrial and coal shipments....

  • Correction: Housing-Clinging to Low Rates story

    WASHINGTON (AP) — In a story July 11 about people who are hesitant to sell their homes and give up their ultra-low mortgage rates, The Associated Press reported erroneously that a rental index compiled by real estate data provider Zillow had risen 19 percent in the past year. In fact, Zillow's...

  • US stocks end little changed after mixed news

    NEW YORK (AP) — U.S. stocks are ending little changed after a day of mixed signals on corporate earnings and the economy. The Standard & Poor's 500 index rose less than one point, or 0.05 percent, to close at 1,897.98 Thursday, barely topping a record set the day before. The other two major...

  • Across US job market, layoffs are becoming rare

    WASHINGTON (AP) — The risk of losing your job is getting smaller and smaller. As the U.S. economy has improved and employers have regained confidence, companies have been steadily shedding fewer workers. Which is why applications for unemployment benefits have dwindled to their lowest level...

  • US stocks stall in late afternoon amid earnings

    NEW YORK (AP) — Stocks were unable to hold their earlier gains as trading wound down Thursday. Investors reacted to quarterly results from companies across several industries, including Facebook, Ford and Caterpillar. They also had two economic reports to interpret, one on the housing and the...

  • Texas governor's startup fund is not all it seems

    AUSTIN, Texas (AP) — Texas Gov. Rick Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation's second most-populous state. But a closer look at the Texas Emerging Technology Fund,...

  • Here's what this week's housing numbers say about the recovery

    Those expecting the housing market to adjust to last year's steep increase in mortgage rates and resume recovering from the mortgage crisis will have to wait longer for clarity.

  • GM profit 2Q falls 85 pct. on recall costs

    DETROIT (AP) — Recall expenses chopped $1.5 billion from General Motors' bottom line in the second quarter, as it added up the costs of repairs for nearly 30 million cars and set aside funds to compensate victims of small-car crashes. The nation's biggest automaker posted a net profit of $190...

  • Markets solid amid mixed US economic news

    LONDON (AP) — Markets were solid Thursday as geopolitical tensions largely related to the downing of a Malaysia Airlines jet over Ukraine subsided somewhat and after further upbeat U.S. jobs data was offset somewhat by surprisingly weak homes data. Since Malaysia Airlines Flight 17 was downed...

  • Average US 30-year mortgage rate at 4.13 pct.

    WASHINGTON (AP) — Average U.S. long-term mortgage rates were stable to slightly higher this week, remaining near their lows for the year. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30-year loan was 4.13 percent, unchanged from last week. The average for the...

  • US new-home sales plummet in June

    WASHINGTON (AP) — Sales of new U.S. homes plunged in June, a sign that real estate continues to be a weak spot in the economy. New home sales fell 8.1 percent last month to a seasonally adjusted annual rate of 406,000, the Commerce Department said Thursday. The report also revised down the May...

  • US unemployment aid applications drop to 284,000

    WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits fell last week to its lowest level in eight years. The Labor Department says weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000. That's the lowest reading since February 2006, nearly...

  • Oil drifts down despite China manufacturing bounce

    The price of oil fell below $103 a barrel Thursday, giving back part of its gains from the day before, despite improvements in Chinese manufacturing. By early afternoon in Europe, benchmark U.S. crude for September delivery was down 20 cents to $102.92 a barrel in electronic trading on the New...

  • S&P 500 ekes out record high as earnings roll in

    NEW YORK (AP) — The stock market eked out a record high Wednesday, as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies. Biotechnology stocks were among the largest gainers. Among big tech names, Apple's earnings topped...



From the Weekly Standard