ECONOMY & MARKETS

Homeownership: (Millennials) Downsizing The American Dream

The recession and housing crash have triggered a sharp decline in the share of American households who own their own home. Homeownership, which is at its lowest point in 15 years, is bound to fall even further, driven by tight credit, lackluster economic growth and more foreclosures.

Summer BBQs More Expensive In Spite Of Stable Cost Of Living

A man eats a hot dog
The price of hamburgers, hot dogs and other commonly grilled items shot up dramatically in June, government data released Tuesday showed, far outpacing price increases seen for other food items and the general cost of living, which actually dipped slightly in the month.
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Intel Beats Estimates In 2Q, But Cuts Forecast

Intel Corp. (Nasdaq: INTC), the largest semiconductor manufacturer, beat expectations in the second quarter, but reduced its revenue forecast for the year as China's economy is expected to slow.
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All the 'Easy' Gold Has Been Found: Mining Analyst

The world's major miners are not discovering enough new gold deposits to make up for all the extraction they have engaged in over the past decade and a half, a fact that suggests the scarcity of the precious yellow metal could grow in coming decades.
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US Builder Confidence Rises To 5-Year High In July

U.S. builder confidence rose in the new single-family home market as in July by the greatest level in nearly a decade, led by improving market conditions and buyer traffic, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
Kyrgyz H1 GDP Nosedives On Kumtor Gold Mine Troubles

US Industrial Production Up 0.4% In June

Industrial Production in the U.S. increased a seasonally adjusted 0.4 percent in June after a 0.2 percent dip in May, the Federal Reserve said Tuesday, led by gains among automobile and machinery makers that suggests some resilience in the manufacturing sector.
The Chicago PMI continues to signal economic recovery for the region, although some business have become worried about rising energy costs

US Consumer Price Index Flat In June As Gas Prices Fall

Consumer prices in the U.S. were flat in June as the higher cost of food offset another drop in energy, according to government statistics released Tuesday, further confirming the Federal Reserve's view that the jump in fuel costs was only temporary.
Copper dips on strong dollar, economic fears

Copper Is 'Slightly Overvalued': Barclays

Copper prices have outperformed the overall metals market as traders have closed short selling in expectation of government intervention to boost growth, but the metal may still be slightly overvalued, according to a Monday report by Barclays.
An investor checks stock information with a computer at a brokerage house in Hefei

Asian Stocks Rise On Stimulus Measure Hopes

Asian markets were rose Tuesday as investors continued to be hopeful that central banks all over the world would soon announce stimulus measures to tackle the weakening global economy.
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Asian Shares Flat As Investors Await Bernanke Testimony

Asian shares paused Tuesday as investors awaited Federal Reserve Chairman Ben Bernanke's view on the U.S. economy later in the day, after weak U.S. retail sales and a lower International Monetary Fund global growth forecast raised hopes of more stimulus from the Fed.
Credit cards are pictured in a wallet in Washington

US Wins WTO Case Over China Bank Card Monopoly

A World Trade Organization panel ruled Monday that China had discriminated against U.S. bank card suppliers in favor of a state-owned enterprise, a decision U.S. card issuers hope could level the playing field and open up new opportunities to China's $1 trillion electronic payments market.
File picture of an employee working on the assembly line of the Citroen C3 at the PSA Peugeot Citroen plant in Poissy

French Carmaker Peugeot-Citroen Likely To Default: CDS Rates

The credit default swaps (CDS) market is pricing in a probable default by PSA Peugeot-Citroen (Paris: UG) as the company struggles with the French government to shed 14,000 jobs and close a plant to cut costs and ensure the survival of the troubled European automaker.
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Europe Exported More In May, Imports Steady: Eurostat

Euro zone nations, collectively, posted an $8.42 billion trade surplus in May, well ahead of a $1.46 billion deficit in the year-earlier period, as exports rose and imports remained relatively steady, the European Union's statistical office said Monday.

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