UNITED STATES

AIG hearing to include Paulson, Friedman testimony

IBTimes Logo
Former U.S. Treasury Secretary Henry Paulson and ex-New York Fed Chairman Stephen Friedman will testify at a congressional hearing on bailed-out insurer AIG's payments to banks, a committee aide said on Tuesday.
IBTimes Logo

EBay to stop, change listing fees for some sellers

EBay Inc said on Tuesday it would stop charging upfront fees for some people who sell low-priced items and change other parts of its fee system in the United States to spur more transactions on its site.
More news
IBTimes Logo

Deficit report highlights Obama's challenge

The U.S. budget deficit will remain at levels not seen since World War Two, congressional experts said on Tuesday in a report that lays out the stark challenge facing President Barack Obama as he seeks to create jobs and cut spending at the same time.
IBTimes Logo

Retail industry sales seen up 2.5 percent for 2010

U.S. retail sales should rise 2.5 percent this year, signaling that store chains have made it through the worst of the downturn as improvements in the housing and job markets bolster shoppers' confidence, a trade group forecast on Tuesday.
IBTimes Logo

Record number of young Americans jobless

The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released on Tuesday.
IBTimes Logo

NYC may lay off 19,000 workers if state cuts aid

New York City will have to lay off more than 10,000 public workers, in addition to 8,500 teachers, if the state legislature approves the $1.3 billion of cuts the governor proposed in his deficit-closing budget, Mayor Michael Bloomberg said on Monday.
IBTimes Logo

Stocks advance on confidence data, earnings

U.S. stocks rose on Tuesday as consumer confidence data bolstered views the economy's recovery is on track and results from Travelers Cos and Apple Inc strengthened the fourth-quarter earnings picture.
IBTimes Logo

Verizon sees delayed rebound, to cut more jobs

Verizon Communications Inc said it is facing a slower-than-expected economic recovery and plans to cut 6 percent of its workforce, adding that it forecasts only a modest rebound in late 2010.
IBTimes Logo

Home prices suggest tenuous housing rebound

Home prices slipped in November and were softer than expected in the latest sign that a rebound in the U.S. housing market is still tenuous, according to Standard & Poor's/Case-Shiller indexes on Tuesday.
IBTimes Logo

Stocks rise on consumer confidence, but China weighs

U.S. stocks edged higher on Tuesday, as better-than-expected consumer confidence data and strong quarterly results from Travelers and Apple offset concerns about a Chinese government clampdown on bank lending.
IBTimes Logo

Afghan allies seek common ground

Afghanistan's neighbours met in Turkey on Tuesday seeking a single voice before a London conference to set a timetable for handing security over to Afghans and find ways to negotiate peace with the Taliban.
IBTimes Logo

Teen pregnancy rate up after 10-year decline

The overall teen pregnancy rate was up 3 percent in 2006, with a 4 percent rise in the rate of births and a 1 percent rise in the rate of abortions, according to the report by the Guttmacher Institute.
IBTimes Logo

GM puts its money into electric motor business

General Motors Co said on Tuesday it will set up a $246 million facility backed by funding from the U.S. government to build electric motors to power future hybrids and possibly pure electric vehicles.
IBTimes Logo

Questions over Ethiopian jet's path before crash

The pilot of an Ethiopian airliner that crashed off the Lebanese coast did not respond to a request to change direction before contact was cut, the Lebanese transport minister said on Tuesday.
IBTimes Logo

CBO projects 2010 deficit at $1.3 trillion

The nonpartisan Congressional Budget Office estimates the U.S. budget deficit for the current fiscal year will come in at $1.3 trillion, down slightly from its previous $1.38 trillion estimate, a source familiar with the matter said on Tuesday.
IBTimes Logo

Obama to seek three-year freeze on domestic spending

President Barack Obama, under pressure from deficit hawks, will seek a three-year freeze on domestic spending in his 2011 budget that would save $250 billion by 2020, administration officials said on Monday.
IBTimes Logo

Home prices dip in November: S&P/Case-Shiller

U.S. home prices slipped in November and were softer than expected in the latest sign that a rebound in the U.S. housing market is tenuous, according to Standard & Poor's/Case-Shiller indexes on Tuesday.
IBTimes Logo

Nov home prices dip, annual drop improves: S&P

U.S. home prices slipped in November and were softer than expected in the latest sign that a rebound in the U.S. housing market is still tenuous, according to Standard & Poor's/Case-Shiller indexes on Tuesday.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.