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Doha breakthrough would dampen food prices: Paulson
Reuters - Treasury Secretary Henry Paulson on
Tuesday said the United States and Germany agreed that a
breakthrough in Doha round of trade talks would help control
food inflation around the world.
Private sector cuts 79,000 jobs in June: ADP
Reuters - U.S. private-sector employers slashed
79,000 jobs in June, the largest drop since November 2002,
according to a report by ADP Employer Services released on
Wednesday that may spell bad news for the government's labor
market report later this week.
Don't blame the buck for high oil price: Paulson
Reuters - A weaker dollar cannot be blamed for
soaring oil prices as policymakers around the world tussle with
the twin specters of rising inflation and slowing growth, U.S.
Treasury Secretary Henry Paulson said on Thursday.
G-8 meets as economy storm clouds thicken
AP - Between surging oil prices, food inflation and a credit crunch that's depressed global growth, leaders from the Group of Eight economic powers face the gravest combination of economic woes in at least a decade when they gather next week.
Costly gas crimps surfers' style, roils industry
AP - For years, Chris Mauro took a 10-mile detour on his way to work each morning to check out the swells at his favorite surf break and plot the best location for his afterwork wave-riding.
Congress frets as its ratings plummet
The Christian Science Monitor - Members of Congress are used to working in an institution that gets no respect, but a recent plunge to the bottom of confidence ratings ? and a week back home with constituents riled over gas prices ? is raising alarms even on thick-skinned Capitol Hill.
Signs that rural retailers are seeing a boost
AP - For three decades, small-town retailers suffered amid tough competition from big discounters and malls that drew shoppers from a hundred-mile radius. But some retailers in rural areas are now seeing a boost as shoppers clobbered by high gas prices shop more locally.
Dollar rises before Bernanke testimony
AFP - The dollar climbed against leading currencies on Thursday amid investor caution after a Wall Street slump and ahead of congressional testimony by Federal Reserve chairman Ben Bernanke, dealers said.
Md. city with edgy racial past elects black mayor
AP - This Chesapeake Bay city of idled crab processing plants and costly vacation homes has had a not-too-distant history of racial strife. But when Cambridge elected its first black mayor this week, residents said their worries about joblessness and the economy were foremost on their minds — not the race or gender of the winning candidate.
Fannie, Bernanke and data to rule stocks
Reuters - The bears have Wall Street cornered
and they just won't let go.
Ex-auto retail sales jump in June: SpendingPulse
Reuters - U.S. retail sales excluding cars
jumped in June and posted their biggest one-month rise in seven
months, as consumers spent some of their government rebate
checks, a private report released on Monday showed.
Retail sales rise less than expected in June
Reuters - Total sales at retailers rose a
less-than-expected 0.1 percent in June, as auto sales had their
biggest drop in more than two years, a Commerce Department
showed on Tuesday.
JC Penney celebrates latest brand launch in style
Reuters - Consumer spending may have slowed and
U.S. retail sales are struggling, but the environment has not
dampened J.C. Penney Co Inc's efforts to celebrate its latest
brand launch in style.
Recession-Proof Jobs
BusinessWeek Online - These are tough times for job seekers. The U.S. unemployment rate held steady in June at 5.5%, the highest rate since October 2004. The outlook is especially bleak in residential construction and automobiles, and for workers without a college degree.
Ask AP: Oil and gas prices, Obama's citizenship
AP - For weeks — months — the price of a barrel of oil marches skyward, and gas prices at the pump soar to frustrating heights.
Going small: A Smart driving experience
AP - Sometimes, I guess, timing is everything. When DaimlerChrysler AG announced in 2006 that it planned to bring the Smart fortwo micro car to the United States after nearly a decade in Europe, gas prices had reached about $2.80 a gallon. Now, Americans are paying more than $4 a gallon at the pump, SUV sales are plummeting and consumers are hungry for smaller, more fuel-efficient vehicles.
Economic woes need "months" to recover: Paulson
Reuters - The economy will need months to
recover from a growth slowdown caused by a home mortgage
crisis, turmoil in financial markets and high energy prices,
Treasure Secretary Henry Paulson said on Sunday.
Goldman's Wilson to advise Paulson on banking: report
Reuters - Goldman Sachs Group Inc's Ken Wilson
will temporarily leave the firm to advise U.S. Treasury
Secretary Henry Paulson on how to resolve the country's banking
crisis, the Wall Street Journal said, citing people familiar
with the matter.
Markets depend on housing recovery: Paulson
Reuters - Treasury Secretary Henry Paulson said
on Tuesday financial markets will remain under stress until the
U.S. housing market's slide ends and called the health of
mortgage finance enterprises vital to the recovery of the U.S.
economy.
Eurozone factory orders slump more than expected in May: EU data
AFP - Factories in the 15 nations sharing the euro saw demand pull back more sharply than expected in May, official EU data showed on Wednesday.
How to Want Less Stuff
The Motley Fool - Gas prices and GDP woes may have us Americans tightening our belts, but that doesn't mean we're happy about it.
Dollar lower before key economic data
AFP - The dollar fell against the euro and yen on Friday as the market awaited publication of US housing figures and data on consumer sentiment in the world's biggest, but struggling, economy.
Would You Drive 55?
Time.com - Senator John Warner wants to enforce a national speed limit as an answer to soaring gas prices
Obama gives Bernanke vote of confidence
Reuters - Presidential candidate Barack Obama
gave a vote of confidence to Federal Reserve Chairman Ben
Bernanke, saying he had made some good decisions in difficult
circumstances.
Dollar lower against the euro
AP - The dollar fell against the 15-nation euro Monday despite a report showing consumer confidence falling to a more-than five-year low in Germany, Europe's largest economy.
US consumer confidence shows small gain from lows
AFP - US consumer confidence showed slender gains in July but still reflected a 'grim' assessment of economic conditions, the Conference Board reported Tuesday.
Mortgage applications slowest since 2000: MBA
Reuters - Applications for U.S. home mortgages
dropped to their slowest pace since December 2000 as loan rates
hovering near one-year highs compounded the housing market's
woes, according to data from an industry group on Wednesday.
Can Paulson Save the Economy?
Time.com - The Treasury Secretary made his reputation as a Wall St. dealmaker, but heading off a recession will be a tougher job
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