Economy
The latest financial news, stock market updates and employment information.
Why US economy could likely withstand a brief fall off the ‘fiscal cliff’ next year
WASHINGTON — It’s the scenario that’s been spooking employers and investors and slowing the U.S. economy:
Federal Reserve wraps up 2012 still facing high unemployment and sub-par economic growth
WASHINGTON — The Federal Reserve is wrapping up 2012 the way it began the year, searching for ways to help a U.S. economy that is still struggling with high unemployment and sub-par growth.
‘Cliff’ movement? Boehner and Obama exchange proposals, talk on phone as deadline approaches
WASHINGTON — In a test of divided government, President Barack Obama and House Speaker John Boehner sought an elusive compromise Tuesday to prevent economy-damaging tax increases on the middle class at year’s end, conferring by phone after a secretive exchange of proposals.
Obama, Boehner trade ‘fiscal cliff’ proposals but appear no closer to a deal
Sides still sniping just three weeks before automatic tax hikes and spending cuts are set to take effect.
‘Cliff’ movement? Boehner and Obama exchange proposals, talk on phone as deadline approaches
WASHINGTON — In a test of divided government, President Barack Obama and House Speaker John Boehner sought an elusive compromise Tuesday to prevent economy-damaging tax increases on the middle class at year’s end, conferring by phone after a secretive exchange of proposals.
News Summary: US wholesale stockpiles up in October but sales down
INVENTORIES UP: U.S. wholesale businesses increased their stockpiles by 0.6 percent in October to $497.1 billion. That is nearly 30 percent higher than the low hit in September 2009 as the country was struggling to emerge from a deep recession.
News Summary: US trade deficit widened to $42.2 billion in October as exports fell
DEFICIT HIGHER: The U.S. trade deficit grew 4.8 percent in October from September to $42.2 billion. The deficit increased because exports fell by a larger margin than imports.
News Summary: US employers post more open jobs in October, a good sign for future hiring
MORE JOB OPENINGS: U.S. employers advertised more jobs in October than September, a hopeful sign that hiring could pick up. The Labor Department said Tuesday that openings rose by 128,000 to 3.68 million.
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