China economy hopes give markets a lift
2012-11-22 17:48:32 UTC
LONDON (AP) — An upbeat Chinese manufacturing survey helped offset the disappointment felt in the markets of another round of grim European figures Thursday — on a day that saw trading seriously curtailed by the U.S. Thanksgiving holiday.
The optimism in the markets came in the wake of a manuf...
ING in new deal with EU over state aid, punishment
2012-11-19 10:28:53 UTC
AMSTERDAM (AP) — ING Groep NV has agreed a deal with European regulators on when it will repay the remaining €3 billion ($3.8 billion) it still owes in state aid.
The bank, which fell foul of EU laws when it was bailed out by the Dutch state in 2008, says it will repay the money, plus a 50 per...
Average US credit card debt per borrower up in 3Q
2012-11-19 10:23:46 UTC
LOS ANGELES (AP) — Americans cranked up their use of credit cards in the third quarter, racking up more debt than a year ago, while also being less diligent about making payments on time, an analysis of consumer-credit data shows.
The average credit card debt per borrower in the U.S. grew 4.9 ...
As eurozone economy shrinks, gov't debt loads grow
2012-11-17 19:29:59 UTC
FRANKFURT, Germany (AP) — Europe's government-debt crisis is no longer panicking financial markets. But it won't end until the region's economy starts growing strongly again.
And that will be a while.
The economy of the 17 countries that use the euro has shrunk for two straight quarters — a...
1-cent increase to stamp price gets regulatory OK
2012-11-16 22:16:46 UTC
WASHINGTON (AP) — The cost of mailing a first-class letter will go up by a penny in January.
The Postal Regulatory Commission on Friday approved the proposed rate increase, which raises the price of a first-class domestic stamp to 46 cents.
The price of a postcard will increase from ...
Smaller companies key to Latin American growth
2012-11-16 10:59:18 UTC
CADIZ, Spain (AP) — Small and medium-sized companies in Latin America could play a key role in strengthening and consolidating the region's economic growth, which this year will slow down for the first time in nearly a decade, two international organizations said Friday.
The Organization for E...
Strikes, protests hit much of European Union
2012-11-14 10:17:59 UTC
BRUSSELS (AP) — With rampant unemployment spreading misery in southern Europe and companies shutting factories across the continent, workers around the European Union sought to unite in a string of strikes and demonstrations on Wednesday.
Most European governments have in recent years had to c...
Hope Solo's Boyfriend Jerramy Stevens Arrested for Assault
2012-11-14 09:49:24 UTC
The Olympian's beau found himself in some hot water.
A spokesman for the Kirkland, Wash., Police Department tells E! News that Hope Solo's boyfriend, Jerramy Stevens, was arrested in the early hours of Monday morning on charges of assault in the fourth degree domestic violence.
So what ha...
AAA: Thanksgiving travel should increase slightly
2012-11-13 23:14:00 UTC
NEW YORK (AP) — Slightly more Americans will hit the road this Thanksgiving, according to AAA. That includes people who are choosing to drive instead of fly as household budgets remain tight.
In its annual Thanksgiving travel forecast released Tuesday, AAA predicts 43.6 million Americans will ...
US government runs $120 billion October deficit
2012-11-13 22:59:15 UTC
WASHINGTON (AP) — The federal government started the 2013 budget year with a $120 billion deficit in October, an indication that the nation is on a path to its fifth straight $1 trillion-plus annual deficit.
A soaring deficit puts added pressure on President Barack Obama and Congress to seek a...
Late-payment rate on mortgages declined in 3Q
2012-11-13 22:49:17 UTC
LOS ANGELES (AP) — U.S. homeowners are doing a better job of keeping up with their mortgage payments, aided by an improving housing market and low interest rates that are making it easier to refinance.
The percentage of mortgage holders at least two months behind on their payments fell in the ...
After 3 bumpy years, Europe turns corner on crisis
2012-11-09 19:05:59 UTC
FRANKFURT, Germany (AP) — The worst of Europe's financial crisis appears to be over.
European leaders have taken steps to ease the panic that has plagued the region for three turbulent years. Financial markets are no longer in a state of emergency over Europe's high government debts and weak b...
Weekly US jobless claims fall to 355K last week
2012-11-08 18:50:23 UTC
WASHINGTON (AP) — The number of people seeking unemployment benefits fell last week by 8,000 to a seasonally adjusted 355,000, a possible sign of a healing job market. But officials cautioned that the figures were distorted by Superstorm Sandy.
The Labor Department said Thursday that the four-...
US employers post fewest jobs in 5 months
2012-11-06 20:04:23 UTC
WASHINGTON (AP) — U.S. employers posted fewer job openings in September after advertising more in August than first estimated. The report suggests hiring will likely remain modest in the coming months.
The Labor Department said Tuesday that job openings dropped by 100,000 to 3.56 million, the ...
Measure of US home prices rises most in 6 years
2012-11-06 19:54:52 UTC
WASHINGTON (AP) — A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006. The gain reported by CoreLogic offered more evidence of a sustainable housing recovery.
The real estate data provider also said Tuesday t...
Eurozone unemployment rises to new record
2012-10-31 17:51:39 UTC
LONDON (AP) — Unemployment in the 17-country eurozone hit a record high of 11.6 percent in September, official figures showed Wednesday, a sign the economy is deteriorating as governments struggle to get a grip on their three-year debt crisis.
The rate reported by Eurostat, the EU's statistics...
US home prices rise in August at faster pace
2012-10-30 14:12:39 UTC
WASHINGTON (AP) — Home prices rose in August in nearly all U.S. cities, and many of the markets hit hardest during the crisis are starting to show sustained gains. The increases are the latest evidence of a steady housing recovery.
The Standard & Poor's/Case Shiller index reported Tuesday that...
Layoffs, perks, labor costs trap French govt
2012-10-29 08:48:57 UTC
PARIS (AP) — The 35-hour work week? Untouchable. The social safety net? Untrimmable.
So how on earth can France's Socialist government keep its promise to make the country, and Europe, more competitive in the global marketplace? Slowly and carefully, President Francois Hollande says.
Ex-Goldman executive awaits sentence from NY court
2012-10-24 06:36:06 UTC
NEW YORK (AP) — A former Goldman Sachs and Procter & Gamble Co. board member convicted of insider trading is about to learn whether prison or community service is his fate.
Rajat Gupta faces sentencing Wednesday for his role in an insider trading case that prosecutors say was the biggest in hi...
Survey shows China's manufacturing improving
2012-10-24 03:10:41 UTC
BEIJING (AP) — A survey shows China's manufacturing improved this month, adding to signs that a recovery from an economic slump might be taking shape.
HSBC Corp. said Wednesday a preliminary version of its monthly purchasing managers' index rose to a three-month high of 49.1 points on a 100-...
German auditors urge controlling gold reserves
2012-10-22 16:19:17 UTC
BERLIN (AP) — Germany's federal auditors' office says the country's central bank should control its gold reserves worth tens of billions of dollars that are stored in the United States, Britain and France.
The auditors said in a report to lawmakers, obtained by The Associated Press on Mo...
Why Greg Smith left Goldman Sachs
2012-10-22 15:31:53 UTC
Greg Smith wrote the essay that echoed across Wall Street like a thunderclap.
Smith was a vice president at Goldman Sachs until March. He announced his departure from the investment bank with a blistering Op-Ed in The New York Times, accusing Goldman of routinely deceiving clients and ...
Jobless rate falls in most battleground states
2012-10-19 20:39:47 UTC
CLEVELAND (AP) — Unemployment rates fell last month in nearly all of the battleground states that will determine the presidential winner, giving President Barack Obama fresh fodder to argue that voters should stick with him in an election focused squarely on the economy.
The declines, however,...
China shows signs economic recovery taking shape
2012-10-18 08:13:49 UTC
BEIJING (AP) — China's worst slump since the global financial crisis leveled out in the latest quarter and retail sales picked up in a sign an economic rebound is taking shape, adding to hopes for a global recovery.
The world's second-largest economy grew 7.4 percent from the year before in th...
Tame US prices, more confident builders aid growth
2012-10-17 00:59:24 UTC
WASHINGTON (AP) — The outlook for the U.S. economy brightened a little Tuesday after reports that consumer prices stayed tame and homebuilder confidence rose to the highest level in six years.
A third report showed factory output grew only modestly in September, a reminder that the economy is ...