Share

More Economy Articles

  • Creditor wants 75 cents on dollar for Detroit debt

    DETROIT (AP) — An attorney for one of Detroit's creditors told a judge overseeing the city's historic bankruptcy Wednesday that Detroit could afford to pay 75 cents on the dollar to settle its debt if it sold some masterpieces from the art museum. But an attorney for Detroit told federal Judge...

  • Regulators set rules meant to ward off bank crisis

    WASHINGTON (AP) — Federal regulators are requiring big banks to keep enough high-quality assets on hand to survive during a severe downturn, the latest move under congressional mandate to lessen the likelihood of another financial meltdown. The Federal Reserve adopted rules on a 5-0 vote...

  • Government actuaries see Obamacare driving up healthcare costs over next decade

    Health spending grew at a relatively slow rate in 2013, according to a government analysis released on Wednesday, but it is expected to accelerate over the next decade as the economy improves, baby boomers retire, and more Americans gain coverage through President Obama's healthcare law.

  • CarMax to hire more than 1,000 across country

    RICHMOND, Va. (AP) — Used car dealership chain CarMax says it plans to hire more than 1,000 workers across the country. The Richmond-based company said in a news release Wednesday that the positions include sales, service operations, purchasing and the business office. Both full-time and...

  • Fed survey finds moderate growth across the US

    WASHINGTON (AP) — The U.S. economy strengthened in all regions of the country in July and August, in areas from consumer spending to auto sales to tourism, the Federal Reserve reported in a survey released Wednesday. All 12 of the Fed's regions reported growth. Six — New York, Cleveland,...

  • CVS changes name, stops tobacco sales early

    As CVS sharpens its focus on customer health, the nation's second-largest drugstore chain will tweak its corporate name and stop the sale of tobacco nearly a month sooner than planned. CVS Caremark said it will now be known as CVS Health, effective immediately. The signs on its roughly 7,700...

  • Warming Gulf of Maine imperils lobster, fish catch

    FRIENDSHIP, Maine (AP) — Imagine Cape Cod without cod. Maine without lobster. The region's famous rocky beaches invisible, obscured by constant high waters. It's already starting to happen. The culprit is the warming seas — and in particular the Gulf of Maine, whose waters are heating up faster...

  • Big banks required to hold $100 billion more in liquid assets to protect against panics

    An official at the Federal Reserve said the new measure would ensure that banks hold enough assets that "can be converted quickly and easily into cash in the amount needed" to avoid having its assets tied up when a creditor demands payment.

  • US factory orders up record 10.5 percent in July

    WASHINGTON (AP) — Business orders for U.S. factory goods shot up by a record amount in July, reflecting a surge in demand in the volatile category of commercial aircraft. But outside of transportation, orders actually fell slightly during the month although the setback was expected to be...

  • Report: Ohio workers productive but making less

    DAYTON, Ohio (AP) — Ohio workers are more productive and better educated these days, yet they aren't necessarily making more money as a result, according to a new report. Ohio productivity grew by nearly 67 percent between 1979 and 2013, while median hourly wages fell by 1.1 percent when...

  • Delta packs planes, key revenue figure rises

    ATLANTA (AP) — Delta Air Lines Inc. said Wednesday that a key revenue figure rose 2 percent in August, slightly below the carrier's record in July and its previous forecast for the whole third quarter. The shares fell in morning trading. Delta had predicted a month ago that the figure — revenue...

  • GM reports 1.2 percent August sales decline

    DETROIT (AP) — General Motors says its U.S. sales fell 1.2 percent last month as rising truck and SUV sales couldn't offset falling car sales. Three of GM's four brands reported declines for the month. GMC, which sells only trucks and SUVs, reported a 10 percent increase. The company said it...

  • Correction: Server Farms-Cleveland story

    CLEVELAND (AP) — In a story Aug. 31 about computer data centers, The Associated Press, relying on information from the company BYTEGRID, erroneously described electricity costs. Power can cost 13 to 16 cents per kilowatt-hour in the northeastern U.S., not 13 to 16 cents per kilowatt in the...

  • $60M plant to turn sugarcane waste to sugars, fuel

    MATHEWS, La. (AP) — A Helsinki company's U.S. subsidiary plans a $60 million plant in Louisiana to turn sugar cane waste into industrial sugars and biofuels. Gov. Bobby Jindal and Virdia Inc. managing director Otavio Pontes said Tuesday the project will create 120 construction jobs and 81...

  • Switzerland, Singapore, US top economic rankings

    GENEVA (AP) — The United States' competitiveness among global economies has risen to the No. 3 spot behind Switzerland and Singapore in rankings published annually by the World Economic Forum. In its survey released Wednesday, the Forum said the U.S. — the world's largest economy — moved up two...



From the Weekly Standard