Poverty rate down but fewer have health insurance
August 28 2007 4:31 PM
The U.S. poverty rate fell for the first time this decade but more people are living without health insurance and the bulk of the nation's poor are children, government data released on Tuesday showed.
House prices suffer worst fall since 1987: index
August 28 2007 1:41 PM
House prices suffered their worst decline since at least 1987 in the second quarter from a year earlier as the housing downturn has deepened, according to the S&P/Case-Shiller U.S. National Home Price Index.
U.S. small businesses less upbeat on economy-poll
August 28 2007 11:08 AM
Economic confidence among U.S. small business owners fell in August as a slowing housing market soured sentiment, and 41 percent said they had recent cash flow troubles, according to a survey released on Monday.
Confidence down as housing slump worsens
August 28 2007 11:07 AM
Consumer sentiment took its sharpest plunge in nearly two years during August while home prices swooned in the second quarter, according to reports that show the housing crisis taking its toll. As Wall Street was gripped by a credit squeeze, the Conference Board's index of confidence dropped nearly 7 points to 105.0, its lowest reading in a year.
OPEC says subprime crisis clouds demand picture
August 28 2007 9:10 AM
OPEC Secretary-General Abdullah al-Badri said on Tuesday that the subprime crisis in financial markets has made it very difficult for the group to gauge demand for crude but supply levels were adequate for now.
China leaders juggle safety scares ahead of conclave
August 28 2007 8:28 AM
With the Made in China brand under threat, steering the world's third-largest exporter through the public relations minefield of food and product safety is one of its leaders' biggest immediate tasks.
Greek government pilloried as fires rage
August 28 2007 8:21 AM
Frantic Greek villagers fled as fire engulfed their homes, farms and forests on Tuesday in an inferno that has killed 63 people and prompted public outrage at the government's handling of the crisis.
Taliban to release all 19 South Korean hostages
August 28 2007 8:11 AM
Taliban insurgents will release all 19 South Korean Christian volunteers they have held hostage in Afghanistan since mid-July, South Korea ' s presidential Blue House said on Tuesday.
Ex-Treasury chief Summers warns on recession risks
August 27 2007 4:25 PM
Former Treasury Secretary Lawrence Summers said on Sunday the risks of a recession are greater now than at anytime since the September 11 attacks due to real estate and mortgage market troubles.
Investor mood worsens on housing turmoil: UBS
August 27 2007 4:15 PM
Investor confidence in the economy deteriorated in August to its lowest level in a year, as the growing housing turmoil compounded worries over high energy prices, a survey showed on Monday.
France tells Europe to pull its weight on defense
August 27 2007 2:54 PM
French President Nicolas Sarkozy urged European Union nations on Monday to accept a greater share of defense spending to cope with escalating global threats.
Japan's new cabinet more friendly to BOJ: analysts
August 27 2007 2:45 PM
A key backer of central bank independence won an important role in Japan's new cabinet on Monday, perhaps making it easier for the Bank of Japan to raise interest rates, analysts said.
Merkel presses China on climate change
August 27 2007 2:44 PM
German Chancellor Angela Merkel urged China on Monday to do more to halt climate change, prompting the response that the developed West has been polluting the skies for much longer than the newly developing Chinese.
Removing Mugabe won't mean democracy: opposition
August 27 2007 2:35 PM
Removing Zimbabwe President Robert Mugabe would not automatically deliver democracy to the troubled African nation, said opposition leader Morgan Tsvangirai.
U.S. Home re-sales fall as inventories soar
August 27 2007 2:30 PM
The pace of sales of pre-owned homes fell slightly in July but the inventory of unsold properties soared to the highest level in over 15 years as troubles in the subprime mortgage market continued to wreak havoc on the housing sector. Home sales slid 0.2 percent in July to a seasonally adjusted 5.75 million unit annual rate, according to the National Association of Realtors.
Frantic Greeks flee villages, fires kill 63
August 27 2007 2:02 PM
Thousands of Greeks threatened by towering walls of fire fled their homes on Monday as strong winds fanned blazes that have devastated the country and killed 63 people in four days.
Flips and scams blamed in California housing decline
August 27 2007 12:32 PM
Bhaviesh and Varsha Shah bought their dream home in a new development east of Los Angeles two years ago, planted flowers around an emerald lawn and picked out wicker furniture for sitting outside on cool afternoons.
Some facts about Attorney General Gonzales
August 27 2007 11:06 AM
Attorney General Alberto Gonzales, whose tenure has been marked by controversy over civil liberties and the firings of prosecutors, has resigned, a senior U.S. official said on Monday. Following are some facts about Gonzales.
Attorney General Gonzales resigns
August 27 2007 11:02 AM
Attorney General Alberto Gonzales resigned from office on Monday, ending a controversial tenure as chief law enforcement officer that blemished the administration of President George W. Bush.
Job market may be in for bleak Christmas
August 25 2007 12:36 AM
With a slowing economy could the job market see declines this holiday season?