Articles by Unemployment
The Top 5 Most Indebted States In The US
August 29 2012 12:06 PM EDT
America's 50 state governments owe a total of $4.19 trillion, including outstanding bonds, unfunded pension commitments and budget gaps. Here's a look at the top five states with the heaviest debt burdens in the country.
Jeb Bush To Republicans: 'Stop Acting Stupid' On Immigration, Or Lose Latinos
August 29 2012 11:26 AM EDT
Former Florida governor Jeb Bush renewed his call for Republicans to reconsider their immigration platform on Tuesday, warning attendees of a panel discussion that the future of the party is at stake.
US 2Q GDP Revised Up To 1.7%, Stock Futures Point To Slight Gains
August 29 2012 9:19 AM EDT
The U.S. economy expanded slightly faster than initially thought in the second quarter, but the pace of growth is still too slow to create enough jobs and drive down the unemployment. Economists are forecasting even slower growth in the second half of 2012, which will probably keep expectations of additional monetary stimulus from the Federal Reserve intact.
A Transparent Poker Face
August 29 2012 9:02 AM EDT
The European Central Bank and the Federal Reserve have both telegraphed that another round of currency depreciation is in the offing. The ECB's Mario Draghi has pledged to do "whatever it takes" to save the Euro currency by setting specific targets for Italian and Spanish bond yields. And the Bernanke Fed has stated that addition monetary stimulation is warranted soon unless there is a "substantial and sustainable strengthening in the pace of the economic recovery." Fed Presidents...
RNC Convention 2012: From Mitt Romney To Chris Christie - Day 2 In Photos
August 29 2012 1:10 AM EDT
Although the tropical storm Isaac forced the cancelation of Monday's opening session of the Republican National Convention in Tampa, the conference was finally kicked off Tuesday with New Jersey Governor Chris Christie impassionedly challenging the Republicans to start "taking our country back" during his keynote speech.
Seven Days That Will Decide Euro Zone Fate: Next Fortnight Is Critical
August 28 2012 1:51 PM EDT
Seven key events in the next fortnight that will determine whether the now-four-year-old euro zone crisis results in Greece and perhaps also Spain leaving and even whether the monetary union will survive. Here is a list of the seven critical dates with their corresponding events.
Spain's Finances Unraveling As Catalonia Seeks €5B From Madrid
August 28 2012 11:46 AM EDT
Spain's Catalonia region will ask for more than $6 billion from the nation's central government as it struggles with massive debts and an acute budget shortfall. Other Spanish regions are also lining up for similar aid requests.
A New Run On The Banks? Spaniards Pulling Cash Out At Record Rates
August 28 2012 8:18 AM EDT
Private sector deposits fell by nearly 5 percent in July to €1.509, European Central Bank data showed, as public confidence in the banking system continued to plummet amid a worsening economic situation.
Concerns over Chinese Growth Weighed on Financial Markets
August 28 2012 5:05 AM EDT
Financial markets firmed most of the day before receiving gloomy Chinese data showing continued weakness in the country's economy. In the commodity sector, crude oil prices initially climbed higher but then reversed gains amid news that Iran would allow inspection of suspected nuclear sites. This upstaged reports that Tropical Storm Isaac was heading towards the Gulf of Mexico. The front-month contract for WTI crude oil contract slipped -0.71% while the Brent crude contract dipped -1.17%. Gol...
Jackson Hole, Bernanke And Draghi: Economic Events for Aug. 27-31
August 27 2012 3:02 PM EDT
The biggest event this week is Friday's Jackson Hole meeting. While this week's economic calendar is rather packed, Wall Street seems to care more about Federal Reserve Chairman Ben Bernanke's speech at the Kansas City Fed's annual economic symposium.
EuroCrisis: Spain in Deep Recession
August 27 2012 9:56 AM EDT
Spain today officially downgraded its already feeble economic performance in 2010 and 2011. Spain's economy grew just 0.4 percent last year, not the 0.7 percent previously stated, the National Statistics Institute said. And output shrank 0.3 percent in 2010 rather than declining 0.1 percent, it said.
Majors Daily Forecast 27 August 2012
August 27 2012 3:04 AM EDT
EUR/USD Sell at 1.2514 SL 1.2546 TP 1.2437 USD/JPY Sell at 78.78 SL 79.10 TP 78.06 GBP/USD Sell at 1.5815 SL 1.5847 TP 1.5727 USD/CHF Buy at 0.9595 SL 0.9563 TP 0.9679 today so far +47, total on Friday +52 pips
EUR/USD Steady Just Above 1.25 This Morning
August 27 2012 12:42 AM EDT
On Friday Euro/Dollar decreased with 85 pips. The European currency depreciated from 1.2567 to 1.2480 on Friday, matching the negative money flow sentiment at over -11%, closing the week at 1.2509. This morning the Euro is trading quietly, with movements within Friday's range for now. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart wide range trading has formed. Break above the nearest resistance and Friday's top at 1.2567 may trigger further strengthening o...
Digging Deep: Lonmin Struggles To Get South African Miners Back To Work
August 26 2012 5:28 PM EDT
Lonmin PLC, the platinum producer whose Marikana mine in South Africa was the site of deadly protests during the past several weeks, is pushing for a return to business as usual after an operations shutdown caused by a wildcat strike and a period of national mourning.
Global Car Companies Hunt Big Game In Africa's Growing Automotive Market
August 25 2012 2:07 PM EDT
Global automakers from Renault SA (Paris: RNO) to Ford Motor Company (NYSE: F) to Chinese companies like Geely Automotive are all racing to get a piece of the long-term potential promised by Africa's burgeoning automotive market. The continent's economy is on the rise, and despite very real improvements in the quality of life and standards of living in many African countries, risks for multinational manufacturers remain.
Energy Markets Being Driven by Fear
August 24 2012 2:04 PM EDT
Crude oil demand in the United States is down to its lowest level since the onset of the global economic recession. A lackluster economic recovery, coupled with cautious consumer sentiment, is keeping demand for petroleum products suppressed. Nevertheless, lingering concerns over geopolitical tensions with Iran has prompted some governments to raise the possibility of releasing strategic petroleum reserves. Fundamentally, it seems, markets are well supplied, though it may be emotional factors dr...
Fed Has Room To Provide More Stimulus, If Needed: Bernanke
August 24 2012 1:22 PM EDT
The Federal Reserve has room to deliver additional monetary stimulus to boost the U.S. economy, Fed Chairman Ben Bernanke told a Congressional oversight panel in a letter.
CBO Warns Of Recession But Says Ending High-Income Tax Cuts Could Save Almost $1 Trillion
August 24 2012 12:01 PM EDT
A Congressional Budget Office analysis released Wednesday warns the U.S. could be heading for a recession in 2013 if Congress enacts scheduled spending cuts and tax increases.
Brent slips below $115 but eyes fourth weekly gain
August 24 2012 3:55 AM EDT
Brent crude futures fell below $115 per barrel in Asia on Friday on signs of economic weakness across the globe, with doubts about more easing by the U.S. Federal Reserve and renewed worries over Europe's debt crisis sapping confidence in the outlook for demand.
Daily Summary on USD, EUR, GBP, JPY, CAD and AUD
August 23 2012 12:26 PM EDT
The dollar is mixed this morning as investors weigh the likely depreciative effects of a possible third round of quantitative easing against signs of a broader global economic slowdown. The dollar has sold off against its G4 counterparts after minutes from the Fed's last meeting revealed that further easing is "warranted soon," unless the economy shows signs of "substantial and sustainable growth." However, St. Louis Fed President Bullard quickly planted seeds of doubt, describing...