More Economy Articles

  • Applications for U.S. jobless aid dip 32k to lowest level since 2007

    The number of people seeking U.S. unemployment benefits dropped to the lowest level in almost seven years, falling 32,000 last week to a seasonally adjusted 300,000. The Labor Department said Thursday that the four-week average of applications, a less volatile measure, fell 4,750 to 316,250.

  • JPMorgan awarded CEO Jamie Dimon $11.8M last year

    LOS ANGELES (AP) — JPMorgan Chase & Co. Chairman and CEO Jamie Dimon's total compensation fell 37 percent last year to $11.8 million as the nation's largest investment bank grappled with billions in legal costs and fines. According to regulatory documents filed Wednesday, Dimon's total...

  • US Treasury raises $2.38b in Ally stock sale

    WASHINGTON (AP) — The Treasury Department has raised $2.38 billion after selling a large chunk of its stock in Ally Financial Inc. as part of the government's ongoing effort to recoup the billions of dollars spent bailing out companies during the 2008 financial crisis. Treasury said Wednesday...

  • US stocks rally on Fed minutes, earnings news

    NEW YORK (AP) — Once again, it was the Federal Reserve to the rescue for the stock market. Major U.S. indexes rose broadly Wednesday, helped by a report out of the nation's central bank that showed Fed policymakers want to be absolutely certain the U.S. economy had recovered before starting...

  • House Republicans aim for JOBS Act 2.0

    House Republicans are trying to recreate the success of the JOBS Act, two years after its passage. The Jumpstart Our Business Startups Act, intended to reduce capital costs for startups by deregulating some aspects of securities law, was one of the rare bipartisan legislative efforts of the...

  • Alcoa and Facebook are big market movers

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Alcoa Inc., up 47 cents to $13 Industry analysts raise their price targets for the aluminum maker's stock after the company weathered a rough patch in...

  • Obama blasts GOP for blocking paycheck fairness bill

    President Obama ripped Senate Republicans Wednesday for blocking a paycheck fairness bill, leveling charges against the GOP that will serve as the centerpiece of the Democratic 2014 campaign pitch. The Paycheck Fairness Act, which was designed to combat wage disparity between men and women,...

  • Minutes show Fed struggled to agree on rate policy

    WASHINGTON (AP) — The Federal Reserve struggled last month over how to convey to investors that it will raise short-term interest rates only slowly once it increases them from record lows. Two weeks before the Fed's regular meeting March 18-19, it held an unusual and previously unannounced...

  • Detroit creditors still have eye on city-owned art

    DETROIT (AP) — Some creditors in Detroit's bankruptcy with eyes on city-owned art say they've found buyers willing to pay more than $1 billion for parts or all of the collection. The disclosure was made in a court filing Wednesday. The creditors are asking bankruptcy Judge Steven Rhodes to...

  • Doug Gansler says raising minimum wage good for Maryland's economy

    Gansler BALTIMORE (Legal Newsline) – Maryland Attorney General Douglas Gansler praised the Maryland General Assembly on Monday for giving final approval to legislation that will increase the state’s minimum wage. The law will increase Maryland’s minimum wage to $10.10 by...

  • Florida bitcoin case tests money laundering limits

    MIAMI BEACH, Fla. (AP) — Two police officers burst through a hotel room door with guns drawn, yelling "Police! Get Down!" just after an alleged money laundering transaction went down. But instead of briefcases stuffed with a drug dealer's cash, this exchange involved an undercover officer with...

  • US wholesale stockpiles up 0.5 percent in February

    WASHINGTON (AP) — U.S. wholesale businesses increased their stockpiles for an eighth consecutive month in February as their sales rose at the fastest clip since November, good signs for future economic growth. Wholesale businesses boosted stockpiles by 0.5 percent in February following an...

  • Bank of America to cut 3,000 overseas jobs

    NEW YORK (AP) — Bank of America says it's cutting about 3,000 jobs overseas as part of ongoing reviews of its global operations. The jobs are located in Costa Rica, the Philippines and Mexico. The Charlotte, N.C.-based company plans to close sites in those countries over the next nine to 12...

  • Seeking political gain, Democrats welcome Republican defeat of Paycheck Fairness bill

    Senate Republicans are poised to defeat a pay equity measure on Wednesday. The “Paycheck Fairness Act” is a key part of a new Democratic agenda that is focused on contrasting the Democratic Party with the GOP ahead of November elections.

  • Colorado marijuana sales up slightly in 2nd month

    DENVER (AP) — Sales of recreational marijuana rose slightly in Colorado in the second month of retail sales, according to state tax estimates released Tuesday. But the modest growth left state lawmakers cautious on spending the pot tax money just yet. An estimate from the Colorado Department...



From the Weekly Standard