The Tea Party-swayed Republican Party won the U.S. debt deal crisis: federal spending was cut substantially. But amid a weak economy, did the coalition cut spending too soon?
U.S. stocks plummeted Thursday, following a similarly huge sell-off in Europe, on growing fears that the global economy is sinking into a recession, ahead of worries about tomorrow?s July jobs report.
U.S. stocks plunged as poor jobs data spooked investors ahead of Friday's all-important Bureau of Labor Statistics (BLS) July jobs report.
President Barack Obama turned 50 on Thursday. But the celebration was muted by a big decline on Wall Street. Some economists are suggesting the U.S. is just "one shock" away from another recession, and questions are being peppered to Obama about his plans for turning around the U.S. economy.
The U.S. is just one-shock away from a double-dip recession, one economist says.
Emboldened by concessions wrung from their own leadership and President Barack Obama during the debt limit fight, Tea Party-affiliated lawmakers will likely remain a driving force in the Republican Party -- and possibly induce gridlock until the 2012 elections.
The Dow is plunging, as stocks are coming back to the woes that Main Street has grappled with since the recession. Stocks had soared this year while Main Street America grappled with slow growth and high unemployment.
The U.S. sell-off follows even greater declines in Europe.
New laims for unemployment benefits were little changed last week, a government report showed on Thursday, pointing to a marginal improvement in the labor market.
U.S. states are making "unprecedented" cuts to unemployment benefit programs, hoping to keep their budgets in line as the country's jobless rate shows no sign of budging, according to a report the National Employment Law Project released on Wednesday.
The U.S. debt deal means that federal spending will now generate even less demand in the quarters ahead, in an economy that?s already weak, and with an unemployment rate at 9.2 percent. To say the Fed has been monitoring the situation would be an understatement.
New U.S. claims for unemployment benefits were little changed last week, a government report showed on Thursday, pointing to a marginal improvement in the labor market.
People have heard about products that are made in China and shipped to other countries but this time the Chinese chopsticks are produced in America and shipped to China.
President Barack Obama will take a three-day campaign-style bus tour through the American Midwest this month, as he tries to refocus attention on jobs seen as vital to his chances of winning re-election in 2012.
Indian conglomerate Essar plans to spend up to $4 billion constructing a plant to process iron ore from Zimbabwe's Mwanesi resource within the next five years, Industry and Commerce Minister Welshman Ncube said on Wednesday.
The pace of growth in the services sector ticked down unexpectedly in July to the lowest level since February 2010, while the number of jobs created by the private sector also slowed, separate reports showed on Wednesday.
The pace of growth in the services sector ticked down unexpectedly in July to the lowest level since February 2010, while the number of jobs created by the private sector also slowed, separate reports showed on Wednesday.
Congress has done the urgent -- passed the U.S. debt deal to help eliminate the budget deficit. But what about an equally important U.S. problem: the jobs deficit?
President Barack Obama will be celebrating his 50th birthday Wednesday night at Chicago's classy Aragon Ballroom, and he's looking for a specific type of present for the midlife milestone: campaign contributions.
President Barack Obama will fly to his hometown in Chicago on Wed. to celebrate his 50th birthday party at two fundraisers for Democrats.
The world's economy moved closer to stagnation last month as firms in Asia and Europe reined back in the face of an ongoing debt crisis and signs of a new U.S. slowdown, business surveys showed on Wednesday.
Would distributing $3,000 gift cards to every American over age 16 get the U.S. economy out of its slump, and create more jobs? The tactic is unconventional, but if the economy doesn't start creating more jobs soon, Congressional leaders may have to implement the unconventional.
