Category: Economy
Breaking News – Hiring up, Unemployment down in December
American employers stepped up their hiring in December, bringing the unemployment rate down again. The economy added 200,000 jobs in the month, the Labor Department reported Friday, doubling the number of jobs added in November. Meanwhile, the unemployment rate fell to 8.5%, the lowest level since February 2009. Economists surveyed by CNNMoney had forecast 150,000 [...]
Retailers and shoppers ready for Christmas clearance sales
Christmas is over and done with, but the shopping is only beginning. The after-Christmas clearance is here at last. It’s the finale to a whole season of mega shopping. “I think everybody has got on the bandwagon with Black Friday and they don’t realize what kind of deals are out there the day after Christmas,” [...]
Republican candidates offer a diverse set of economic plans
At a moment when the fragility of the economy ranks at the top of American concerns, sharp differences have begun to emerge in how the leading GOP presidential contenders would solve the problem — illuminating not only a diversity in approach, but a striking contrast in the candidates’ governing philosophies. The proposals range from those [...]
Boeing says comfortable with 787 production targets
Boeing is comfortable with the production targets for its 787 Dreamliner, Scott Francher, a Boeing VP and head of the 787 program, said on Wednesday at Tokyo’sNarita airport ahead of the plane’s first flight for paying passengers. Delays as its engineers dealt with glitches and parts hold-ups have held up deliveries of the 787 leaving [...]
Citigroup profit jumps on accounting adjustment
Citigroup Inc.’s C third-quarter earnings rose 68% from a year earlier, lifted by an accounting adjustment and continued strength in the bank’s international operations. Citi booked a $1.9 billion gain tied to the valuation of its own debt, and continued improvement in losses from soured loans allowed the bank to reduce its loan loss reserve [...]
Belgium to Buy Dexia’s Local Consumer Bank for $5.4 Billion
Belgium agreed to buy the local consumer-lending unit of Dexia SA, ending a 15-year cross-border experiment with France after the European debt crisis deepened. The Belgiam federal government will pay 4 billion euros ($5.4 billion) for the division and guarantee 60 percent of a so-called bad bank to be set up for Dexia’s troubled assets, [...]
Unemployed? Check out these 9 hard to fill jobs
These days everyone is talking about the unemployment and how they are struggling to make ends meet. However, according to the latest CNNMoney report, there are a few jobs where employers are struggling to fill the positions and beware these are no low paying jobs either. Advanced Manufacturing Engineer Right now, GE is looking for [...]
787 Dreamliner becomes reality three years behind schedule
Boeing has delivered its first 787 Dreamliner to Japanese customer All Nippon Airways (ANA). Boeing says its carbon fibre design cuts fuel consumption by 20% and the plane gives passengers a more comfortable ride with better cabin air and large electronically dimmable windows. The first $200m plane arrived three years behind schedule after persistent delays [...]
Bernanke Backs More Stimulus, Citing `Weak’ Outlook
It seems another stimulus package is in the works. I am not sure if it would help the markets and we still have to see if the bailout package passed by the congress earlier has any effect on the economy.
McCain Offers Economic Plan
BLUE BELL, Pa. — Sen. John McCain today proposed $52 billion worth of tax breaks aimed at reducing the impact of stock market losses on the nation’s seniors, providing relief to the unemployed and encouraging savings. Under his plan, unveiled as he campaigned in a suburb of Philadelphia, seniors would pay lower taxes when they [...]
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