More Economy Articles

  • Elizabeth Warren grills Fed Chairwoman Janet Yellen on crucial too-big-to-fail question

    Sen. Elizabeth Warren grilled Federal Reserve Chairwoman Janet Yellen on an important provision of the law intended to prevent banks from becoming too big to fail.

  • UK pound near 6-year high after inflation spike

    LONDON (AP) — The British pound spiked near a six-year high against the dollar Tuesday after a surprisingly big increase in U.K. inflation fueled expectations that the Bank of England may start raising interest rates soon, possibly by the end of the year. Figures Tuesday from the Office for...

  • US businesses rebuild stockpiles at steady pace

    WASHINGTON (AP) — U.S. companies restocked their store shelves and warehouses at a steady pace in May, a sign they expect sales will remain solid in the months ahead. Business stockpiles rose 0.5 percent in May, the Commerce Department said Tuesday. That was down slightly from a 0.6 percent...

  • Export-Import Bank subsidy beneficiary wants to let Export-Import Bank expire

    Republican Rep. Cathy McMorris-Rodgers is from Washington State, which makes her hesitance on the Export-Import Bank raise eyebrows. A local paper, the Spokesman-Review, blasted her for her reluctance, citing Washington's status as "the nation's most trade-dependent state."

  • JPMorgan's second-quarter net income falls

    NEW YORK (AP) — JPMorgan Chase, the nation's largest bank by assets, said Tuesday its second-quarter earnings fell 9 percent as revenue at its investment banking and mortgage businesses dropped. The bank's net income totaled $5.6 billion in the quarter after payments to preferred...

  • Congressional Budget Office downgrades fiscal outlook, but not because of debt

    The outlook for the federal debt is still grim, the Congressional Budget Office reported Tuesday, and largely unchanged despite the roll-out of Obamacare and a budget deal since its last projection were issued.

  • Goldman Sachs posts higher profit and revenue

    NEW YORK (AP) — Goldman Sachs said Tuesday that its quarterly profit rose 5 percent, helped by record results from investment banking. Second-quarter net income climbed to $1.95 billion from $1.86 billion a year earlier, the bank said early Tuesday. That's after paying dividends on preferred...

  • US retail sales tick up 0.2 percent in June

    WASHINGTON (AP) — U.S. retail sales increased slightly in June, evidence that consumers remain cautious despite steady job gains this year. Retail sales rose just 0.2 percent last month, the Commerce Department said Tuesday, held back by a sharp drop at building and garden supply stores....

  • EXography: Wall Street migrates south to low-cost Southern cities

    When we think about American finance, the default Image is of a pinstriped banker on Wall Street. But increasingly, the financial services sector, which employs eight million people, is shifting away from the traditional bastions of money.

  • Citigroup to pay $7B in subprime mortgages probe

    WASHINGTON (AP) — Citigroup has agreed to pay $7 billion to settle a federal investigation into its handling of risky subprime mortgages, admitting to a pattern of deception that Attorney General Eric Holder said "shattered lives" and contributed to the worst financial crisis in decades, the...

  • Emerging nations plan their own World Bank, IMF

    WASHINGTON (AP) — Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund. Brazil, Russia, India, China and South Africa —the so-called BRICS countries — are...

  • Stocks move higher on earnings, acquisition news

    Stocks shook off last week's doldrums and finished sharply higher Monday, driven by a round of corporate deal news and strong earnings from Citigroup. Investors cheered AECOM Technology's $4 billion acquisition of engineering and construction services company URS Corp., sending URS' stock up...

  • Stocks snap higher on Wall Street; Citigroup up

    Stocks are closing sharply higher as the market shakes off its worst weekly performance in three months. Citigroup rose 3 percent after the bank turned in better results than Wall Street expected. The bank also said it had reached a settlement in an investigation into its mortgage securities...

  • US companies look overseas for tax bill relief

    A growing number of U.S. companies are looking to trim their tax bills by combining operations with foreign businesses in a trend that may eventually cost the federal government billions of dollars in revenue. Generic drugmaker Mylan Inc. said Monday it will become part of a new company...

  • Mortgage settlement hits Citigroup net income

    Citigroup said Monday that its net income dropped in the second quarter after it took a $3.8 billion charge to settle claims over its risky subprime mortgage business. The charge pushed down its net income to $181 million from $4.18 billion a year earlier. On a per-share basis, net income was...



From the Weekly Standard

  • David Perdue Wins GOP Senate Nom in Georgia

    Businessman and first-time candidate David Perdue pulled off what the Atlanta Journal-Constitution  calls a "political shocker" by winning the Republican primary runoff for the U.S. Senate in...

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  • Kingdom Come

    There are no copyrights on book titles. F. H. Buckley nevertheless shows remarkable audacity in borrowing The Once and Future King from T. H. White’s children’s classic, published in...

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  • A Glimpse of Our Health Care Future

    To what will Obamacare lead? If the administration’s health policies continue on their present trajectory, Obamacare will lead to some form of European-style single-payer national health system.

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