Economy

Builders say housing is back

More builders say sales conditions are good rather than poor, confirming earlier signs of a housing recovery. More

Fed not expected to taper QE3 until December

Fed watchers don't expect a slowdown in its stimulus program until at least December. They also think vice chair Janet Yellen will replace Ben Bernanke when his term ends. More

On the brink, Detroit halts debt payments, plans pension cuts

Detroit's state-appointed emergency manager says city is insolvent and must cut pensions and benefits as well as debt. More

Retail sales jump on strong car sales

Flood of consumers into car showrooms help to lift overall retail sales. More

Buffett: Change is happening at Berkshire

Berkshire Hathaway CEO Warren Buffett discusses the dearth of female CEOs in Fortune 500 companies and says he would hire a female over a male if the two had equal job qualifications. Play

Drugstores in a pickle over 'conscience clause' on Plan B

Drugstores have long protected pharmacists who morally oppose emergency contraception. But that could change now that Plan B One-Step will be sold over the counter. More

U.K. regulator eyes currency market in latest rate-rigging controversy

Regulators in the United Kingdom are looking into allegations that More

Steel fight adds to EU-China trade tension

Another product, steel tubes, was added Thursday to the growing list of goods currently subject to a trade dispute between Europe and China. More

U.K. urged to probe Google's tax affairs

U.K. authorities should launch a full investigation into Google's "manifestly artificial" corporate structures to ensure it is complying with tax law, a committee of lawmakers said Thursday. More

Would a smartphone 'killswitch' deter thieves?

Law enforcers are publicly calling on manufacturers to install "killswitch" technology that would render a stolen device useless. More

Jobless claims fall again

Claims for unemployment benefits fell more than expected last week, pointing to further modest improvement in the job market. More

Obamacare: Is a $2,000 deductible 'affordable?'

Those enrolling in Obamacare's health insurance exchanges in California will pay $2,000 deductibles and $45 office visits if they buy a silver plan. Is that affordable? More

Cost of economic sanctions against Iran

Although there is massive potential for Iran to have a high-powered economy, the public has suffered substantially due to economic sanctions. Play

Wave of federal retirees to hit government

Some 30% of federal workers are eligible to retire in the next 3 years, a time when the government is already facing staffing shortages because of hiring freezes and the sequester. More

Greece shuts state broadcaster in austerity push

Greece's state broadcaster ERT was taken off the air overnight Wednesday in a highly visible reminder of the country's continuing economic crisis. More

Truckers face big labor shortage

Trucking companies already have a shortage of about 30,000 workers, and new federal rules that reduce driving hours could create a need for an additional 100,000 drivers. More

Women: Beware the Wyoming wage gap

Women in Wyoming earn only 67 cents for every $1 men earn. It's the state with the biggest income gap. More

Don't double my student loan rate

Student with a subsidized Stafford loan talks about the debt he faces and why Congress should extend the current interest rates of 3.4%. More

BMW hit with discrimination lawsuit from EEOC

The U.S. Equal Employment Opportunity Commission claims a BMW plant in South Carolina instituted a new criminal background check policy that disproportionately screened out African-Americans. More

Global CO₂ emissions at record high in 2012

The world must get back on track to limit rising temperatures, according to International Energy Agency. The agency says four steps must be taken by 2020 to meet climate goals. More

Cash-only doctors abandon the insurance system

Fed up with red-tape and high overhead, a growing number of doctors are switching to a direct fee-for-care approach. More

America's surprising manufacturing powerhouse

Manufacturing is Oregon's top industry, and the driver of its rapid economic growth. More

Uncle Sam's outsourcing tab: $517 billion

Federal government awarded at least a half-trillion dollars in outsourced contracts in the most recent fiscal year. More

Spending cuts likely to be deeper in 2014

It's hard to think of a scenario where federal spending doesn't go down further in many areas starting this fall. More

S&P says U.S. credit rating now 'stable'

Credit rating agency cites the Fed, an improved deficit outlook and U.S. economic outlook among its reasons for the improved outlook. More

Obama to tap new top economist

Jason Furman set to become fourth economist to head Obama's Council of Economic Advisers. More

May jobs report: Cautious hiring continues

Employers are hiring at a restrained pace as jitters about the economy linger. More

GE CEO: China will drive energy tech

At the Fortune Global Forum in Chengdu, China, GE CEO Jeffrey Immelt says that future energy development will be focused in China. Play

Meet the world's first Bitcoin baby

Fertility specialist Dr. C. Terence Lee is a pioneer in the world of retail bitcoin transactions. A couple used the virtual currency to pay him for a frozen embryo transfer. More

Japan's economy continues turnaround

The Japanese economy grew at a quicker pace than originally reported in the first quarter, according to revisions released by the Cabinet Office on Monday. More

What the NSA costs taxpayers

Much of the U.S. budget for intelligence efforts is classified. And not even everyone in Congress knows how much is spent. But some experts back out a rough estimate. More

El-Erian grades U.S. economy a 'B'

Pimco CEO Mohamed El-Erian says uncertainty is keeping the U.S. economy from growing faster, but we're still doing better than the rest of the world. Play

3 reasons the jobs numbers were bleh

The market might have loved the jobs report, but that doesn't mean we should. The recovery is still weak, unemployment rose and job growth may have already peaked. More

Why the unemployed are seeing smaller checks

Federal budget cuts reduce unemployment insurance for long-term jobless More

U.S. and China raise stakes over hacking

President Obama is likely to raise the issue of cyberattacks and intellectual property theft during a retreat with his Chinese counterpart President Xi Jinping. More

China and Europe risk trade war

While trade spats are nothing new, the sustained volley of threats in recent days between China and the EU is raising the specter of more retaliatory actions between the key trading partners. More

Taxpayers to make $1 billion from GM stock sale

Treasury and union trust fund announce they will time sale of GM stock to correspond with its entrance back into the S&P 500. More

North Dakota grows five times faster than nation

North Dakota's energy boom led the state to have the fastest growing economy in 2012 -- five times the national average. More

Americans' wealth tops pre-recession high ... sorta

Americans' net worth surpasses pre-recession high, but not if you account for inflation. More

Today's mechanics can make $100K

Jobs for automobile technicians are growing, and future mechanics are heading to vocational schools to train up. Play

French unemployment hits 15-year high

The unemployment rate in France continues to climb, hitting 10.4% in the first quarter of 2013. More

ECB trims 2013 forecast, keeps rates steady

The European Central Bank trimmed its forecast for the eurozone economy in 2013, but left interest rates unchanged as expected. Says it still believes a gradual recovery will begin in the second half. More

Employment is still near a 30-year low

About 58.6% of the adult civilian population had a job as of April, according to the Bureau of Labor Statistics. This rate -- officially called the "employment-population ratio" has barely budged in the last three years, and the last time it was that low was in 1983. More

Senate bills to help students with loans fail

Two Senate bills that aim to help students taking out subsidized student loans this fall fail to gain passage. More

Jobless claims: Less firing, but where's the hiring?

Fewer Americans filed first-time claims for unemployment benefits last week, pointing to more slow and choppy improvement in the job market. More

IMF bent rules on Greece to avoid worse situation

The IMF bent its own rules to bail out Greece back in 2010 and prevent much more serious damage to the eurozone and world economy. More

Federal Reserve: Recovery still 'modest' and 'moderate'

Modest, moderate and measured. Those are the words the Federal Reserve is still using to describe the U.S. recovery, four years after the recession officially ended. More

Trump may develop Old Post Office building

Under the pending agreement, the Trump Organization would receive a 60-year lease to redevelop Washington's historic Old Post Office building. More

China hits back at Europe with wine probe

China may crack down on $1 billion in wine imports from Europe, as a dispute over solar panels threatens to escalate into a wider trade war. More

Nation's drinking water system needs $384B upgrade

Regulators say that billions of dollars must to be spent by 2030 in order to fix the nation's deteriorating water systems. California, Texas and New York need the most money. More

Unemployed population is bigger than NYC & LA

About 12 million Americans still remain unemployed. Try wiping both New York City and Los Angeles off the map. That's how many people we're talking about. More

Treasury to sell some GM stock

Treasury and union trust fund announce they will time sale of GM stock to correspond with its entrance back into the S&P 500. More

Hiring at small businesses tapers off

Small businesses added 58,000 jobs in May, according to ADP. The pace is slow, and 2013 is turning out to be another sluggish year. More

U.K. prepares for U.S.-style shale gas boom

New estimates from U.K.-based energy firm IGas show there could be a massive amount of untapped energy reserves in the Northwest of England. More

ADP: Private sector job growth still weak

The monthly ADP jobs report shows private sector employers added 135,000 jobs in May, falling short of economists' expectations. More

Market swings call Abenomics into question

Dramatic moves in Japanese bond and equities markets in recent days have raised questions about the long-term viability of the country's ambitious economic recovery plan. More

EU slaps tariffs on Chinese solar panels

The European Commission says it will impose provisional tariffs on solar panels imported from China, accusing exporters of flooding the EU at prices way below production cost. More

Bill Gross: Hey Fed, your stimulus isn't working

Pimco's Bill Gross says that ultra low interest rate policies and ongoing bond buying programs around the world aren't working. More

End the Fed ... speeches

Fed chairman Ben Bernanke is a fan of transparency. But the market now has an unhealthy obsession with the central bank. More

4 years post-recession: Where are we now?

The statistics behind America's recovery from the Great Recession. More

Wal-Mart's low wages cost taxpayers

Many Wal-Mart workers have to rely on public assistance like food stamps and Medicaid because of the low wages they are paid. It's a cost that's borne by taxpayers. More

Will the housing rebound crush the job market?

Most people believe the reason high homeownership creates stubbornly high unemployment is because the out of work can't afford to sell their house. That's not the whole story. More

U.S. steps up natural gas exports

Manufacturers fear jobs losses, environmentalists more fracking as U.S. steps up natural gas exports. More

Corporate raider seeks to snap up $3 billion in Greek debt

Just 12 months ago, Greece was at risk of leaving the eurozone. This week, a U.S. corporate raider who made his name two decades ago, has offered to buy 10% of all Greek government debt issued last year. More

U.S. manufacturing contracts for 1st time in 6 months

U.S. manufacturing activity contracted for the first time since November, according to a report released Monday. More

Let China pump Iraq's oil

A big chunk of Iraq's oil is going to China. But if Chinese companies will accept low profits and help reduce prices, that's not bad. More

Signs of life appear in Europe's factories

Spain and the U.K. lifted Europe's economic gloom a touch Monday with the strongest readings of manufacturing activity in many months. More

Bidding begins for lunch with Buffett

Auction starts for chance for eight to have lunch with Buffett. Last year's lunch raised $3.5 million for charity. More

Wine windfall for the French state

The French government raked in nearly 720,000 euros by selling off some of its finest wines at an auction last week. More

Bernanke's 10 hilarious tips for Princeton grads

Federal Reserve Chairman Ben Bernanke delivered a fun commencement speech to Princeton undergrads Sunday, in which he laid out 10 life suggestions, complete with a Forrest Gump quotes, a baseball reference and even relationship advice. More

Indicators present muddled picture of China's factories

Economic reports seeking to gauge activity in China's factories during the month of May have presented investors with a muddled picture, with official indicators from the state outpacing those of private forecasters. More

Student loan mess: What's at stake?

Obama hit the White House stage on Friday to talk about student loan interest rates, which are scheduled to double July 1 for undergraduates students taking out subsidized loans. More

Return to main page

Bernanke and China send world stocks lower
China factory activity hits 9-month low
J.D. Power ranks GM tops in quality for first time
Much faster Wi-Fi coming soon
Ben Bernanke's power over your money

Latest Report	Next Update
Jobs	June 7
Inflation (CPI)	June 18
Consumer confidence	June 25
Home prices	June 25
GDP	June 26
Manufacturing (ISM)	July 1

Overnight Avg Rate	Latest	Last Week
30 yr fixed	4.05%	4.05%
15 yr fixed	3.15%	3.18%
5/1 ARM	2.87%	2.85%
30 yr refi	4.04%	4.03%
15 yr refi	3.14%	3.16%