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U.S. slips in WEF's competitiveness rankings (Reuters)
Thu, 09 Sep 2010 03:37:31 GMT
Reuters - Switzerland remains the world's most competitive economy, while the United States has fallen from second to fourth, according to the World Economic Forum.
Wall Street climbs in low-volume session (Reuters)
Wed, 08 Sep 2010 21:48:28 GMT

Traders work on the floor of the New York Stock Exchange, September 7, 2010.REUTERS/Brendan McDermidReuters - Stocks rose on Wednesday as investors latched onto positive news out of Europe in the latest in a string of low-volume sessions suggesting little confidence in market direction.


Obama: U.S. can't afford to extend tax cuts for rich (Reuters)
Thu, 09 Sep 2010 00:33:16 GMT

US President Barack Obama walks to the Oval Office at the White House in Washington, DC. Obama admitted Wednesday if US voters in the upcoming midterm elections make their choices based on their opinion of the economy, his Democratic Party could be in big trouble.(AFP/Jim Watson)Reuters - President Barack Obama, fighting to keep Democrats in charge of Congress, said on Wednesday the United States could not afford to extend Bush-era tax cuts for the rich and accused Republicans of being fiscally irresponsible.


BP points fingers in oil spill blame game (Reuters)
Thu, 09 Sep 2010 01:10:57 GMT
Reuters - BP Plc and its Gulf of Mexico oil well partners traded blame on Wednesday after an internal BP investigation tried to downplay the company's role in the world's biggest offshore spill.
Lloyds set to sell Crest Nicholson stake: report (Reuters)
Thu, 09 Sep 2010 03:32:53 GMT
Reuters - Lloyds Banking Group is to sell its stake in bank-owned housebuilder Crest Nicholson for 150 million pounds ($232 million), the Financial Times said on Thursday.
Wall Street up as fears for European economy ease (AFP)
Wed, 08 Sep 2010 14:24:11 GMT

A steet sign stands on Wall Street near the New York Stock Exchange in New York, in January 2009. US stocks were slightly up after news of a successful Portuguese debt auction eased the previous day's concerns about the European economy.(AFP/File/Emmanuel Dunand)AFP - US stocks were slightly up on Wednesday after news of a successful Portuguese debt auction eased the previous day's concerns about the European economy.


Fed sees 'widespread' signs US economy is slowing (AFP)
Wed, 08 Sep 2010 21:43:40 GMT

The US Federal Reserve Building is seen from the air over Washington, DC. The US economy is showing AFP - The US economic recovery is showing "widespread" signs of slowing, the US Federal Reserve warned Wednesday, as it gears up for a key policy meeting later this month.


Spartech posts fiscal 3Q loss, misses expectations (AP)
Wed, 08 Sep 2010 23:24:40 GMT
AP - Plastic sheet and packaging maker Spartech Corp. reported a net loss for its fiscal third quarter on Wednesday and said that despite higher revenue, the overall market recover is slower than expected.
Summary Box: Ireland to split Anglo Irish Bank (AP)
Wed, 08 Sep 2010 18:30:43 GMT
AP - SPLIT: Ireland plans to split its most troubled financial institution, Anglo Irish Bank, into a "good" deposit bank and a "bad" toxic-debt bank. The move comes as the nation seeks to reassure international lenders that it is dealing with the Irish debt crisis.
FDIC's Bair warns of government "exposure" in mortgages (Reuters)
Thu, 09 Sep 2010 03:53:37 GMT
Reuters - A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.
Bank of Korea keeps interest rate near record low (AP)
Thu, 09 Sep 2010 03:52:37 GMT

Kim Choong-soo, governor of the Bank of Korea, bangs the gavel to preside over a meeting to decide a benchmark call rate at its headquarters in Seoul, South Korea, Thursday, Sept. 9, 2010. South Korea's central bank left its key interest rate near a record low Thursday for a second straight month amid a weakening outlook for the global economy.(AP Photo/Ahn Young-joon)AP - South Korea's central bank left its key interest rate near a record low Thursday for a second straight month as the risk of slowing global growth outweighed a buoyant outlook for the local economy.


Coffee hits 13-year high; retail prices also up (AP)
Wed, 08 Sep 2010 21:28:12 GMT
AP - Coffee prices hit a 13-year high Wednesday, extending a rally that has sent prices up about 43 percent in the past three months.
Bankers urge government to pull plug on Fannie, Freddie (Reuters)
Wed, 08 Sep 2010 20:35:59 GMT
Reuters - The federal government should take mortgage finance giants Fannie Mae and Freddie Mac off life support sooner rather than later, the Mortgage Bankers Association urged on Wednesday.
Questions, worries, arguments preceded Gulf blast (AP)
Thu, 09 Sep 2010 04:01:56 GMT
AP - Something was wrong.
Obama firm, won't yield on tax hike for wealthiest (AP)
Thu, 09 Sep 2010 03:36:38 GMT

President Barack Obama delivers remarks on the economy,Wednesday, Sept. 8, 2010, at Cuyahoga Community College West Campus in Parma, Ohio. (AP Photo/Pablo Martinez Monsivais)AP - Politically weakened but refusing to bend, President Barack Obama insisted Wednesday that Bush-era tax cuts be cut off for the wealthiest Americans, joining battle with Republicans — and some fellow Democrats — just two months before bruising midterm elections.


AP Source: New GM CEO wants automaker to beat BMW (AP)
Wed, 08 Sep 2010 21:13:32 GMT

FILE - This undated file photo provided by The Carlyle Group on Thursday, Aug. 12, 2010, shows Daniel F. Akerson, then, managing director and head of global buyout of The Carlyle Group. Akerson, the new General Motors CEO, is telling employees Wednesday, Sept. 8, 2010, to go into attack mode to stay ahead of competitors like BMW AG instead of responding to them. (AP Photo/The Carlyle Group) NO SALES.AP - General Motors' new CEO told employees that the automaker needs to make cars and trucks that are better than those of competitors such as BMW.


The Treasury's New Research Office (BusinessWeek)
Tue, 07 Sep 2010 12:08:41 GMT
BusinessWeek - Don't expect an Elizabeth Warren-style campaign for the first director of the Office of Financial Research, yet another agency set up under the financial system overhaul. Unlike the pending decision over who will lead the Consumer Financial Protection Bureau, which has prompted online petitions and a viral rap video in support of the Harvard law professor, the competition over who will be the head of the research office is a wonks-only affair. ...