More Economy Articles

  • Labor market still needs Fed support, chair says

    WASHINGTON (AP) — Despite recent sizable job gains, Federal Reserve Chair Janet Yellen is signaling that her agency is in no rush to withdraw the massive support it is providing the U.S. economy. Extra caution is warranted, she said Tuesday, given a number of "false dawns" in this recovery...

  • US stocks slip as investors digest earnings

    Stocks are closing mostly lower as investors considered a new set of corporate earnings and the Federal Reserve's latest assessment of the U.S. economy. In remarks to Congress, Fed Chair Janet Yellen raised the possibility the Fed could raise its key short-term interest rate sooner than...

  • Tobacco firm Reynolds American to buy Lorillard

    RICHMOND, Va. (AP) — Joe Camel is bulking up to take on the Marlboro Man. Camel cigarette maker Reynolds American Inc.'s $25 billion deal to buy Newport maker Lorillard Inc. creates a formidable No. 2 tobacco company in the U.S. behind Marlboro maker Altria. It also creates a powerhouse in...

  • 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...



From the Weekly Standard

  • Europe's Amazing Anti-Israel Ways

    I've lived in Europe the past dozen years—in Berlin, Prague, and London. When it comes to Israel, Europe's ways seldom cease to amaze. 

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  • No Sword, No Justice

    On Tuesday, President Obama visited the Dutch embassy in Washington to pay his respects to the victims of Malaysia Airlines Flight 17, shot down over Ukraine by forces armed and backed by Vladimir...

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  • A New Disorder

    Moments of clarity often come when you least expect them. In a speech to contributors last week in Seattle, Barack Obama made the case that his presidency has made America better. In most...

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