US Initial Jobless Claims Rise To 382,000 - Higher Than Expected
The four-week average of initial U.S. jobless claims rose last week to its highest level in nearly two months, yet another indication of the nation's anemic job creation ability.
Is China’s Stimulus For Real? Economists Lower 2012 Growth Forecasts
China's economic slowdown is expected to reach its nadir in the third quarter, leaving growth for 2012 likely to fall below 8 percent, a level unseen since 1999. While top Chinese leaders remain confident that the world's second-largest economy still has "ample strength" in either monetary or fiscal domains to propel economic growth, economists caution that the $158 billion stimulus unveiled by China may not be all it's hyped up to be.
BAE Systems Soars 11% On Talk Of Tie-Up With Airbus Parent EADS
U.K. defense contractor BAE Systems PLC (PINK: BAESY) said it's in talks with European Aeronautic, Defence & Space Co., the parent of Airbus SAS, about a possible merger that would create a European counterweight to U.S. companies including The Boeing Company (NYSE: BA).
German ESM Ruling: World Stocks Rally, But Don’t Sound The All-Clear Yet
Market bulls charged on Wednesday -- running U.S. stock futures, European stocks, the euro, oil and gold higher -- in the wake of a German court ruling that backs the country's participation in the euro zone's new bailout fund created to prevent the weakest euro economies from going bust. However, some economists warn that it's too early to sound the all-clear on the fate of the single currency bloc.
Apple’s iPhone 5 Could Add 0.5% To US GDP, JPMorgan Says
If, as one analyst expects, Apple sales of its new iPhone 5 -- estimated to cost about $600 each -- reaches 8 million, it could boost the GDP of the U.S. by half a percentage point.
Moody’s Warns Of US Credit Rating Downgrade Without Budget Deal
Moody's warned Tuesday it could strip the U.S. of its coveted triple-A credit rating if Congress fails to produce a budget that will bring down the federal debt burden.
Royal Philips Electronics To Cut 2,200 More Jobs By 2014
Royal Philips Electronics NV, the largest maker of lights, said Tuesday it plans to cut another 2,200 jobs by 2014 to save €300 million ($383 million) a year as economic conditions deteriorate.
FOMC, German Court’s ESM Ruling, And China August Data Dump: Economic Events for Sept. 10-14
The week is chock-full with data releases, but the Federal Reserve's policy meeting on Sept. 12-13 will carry the most weight.
August US Jobs Report Is Disappointing: 6 Takeaways
It's been three years since the Great Recession technically ended, and still, unemployed Americans are struggling to find work.
China To Boost Growth With $127B Of Infrastructure Spending
China has unveiled plans to build dozens of new subway and inner-city rail transit links, data from the country's top economic planning agency show, in a new move to stimulate its slowing economy.
Draghi: ECB Agrees Unlimited New Bond Program - OMT
European Central Bank President Mario Draghi said Thursday the “euro is irreversible” and announced a new bond-buying plan “Outright Monetary Transactions,” or OMTs, aimed at lowering the struggling euro zone countries’ borrowing costs which would serve as a “fully effective backstop.”
August US Jobs Report Looks Bleak, May Trigger QE3
The stakes are high. Friday's August jobs report will be the last major data point for the Federal Reserve to consider ahead of the Sept. 12-13 FOMC meeting.
American Airlines Pilot Contracts Can Be Abandoned, Judge Says
AMR Corporation's (PINK: AAMRQ) American Airlines took a major step toward emerging from bankruptcy after a federal judge tossed out its pilots' union contract, ending a dispute with the only union it had failed to reach a deal with on concessions.
Global Manufacturing Weakens Further In August, More Easing Probably Won’t Spur Growth
Manufacturing downturns spared no one in August, surveys of purchasing executives showed, in the latest sign of weakness in the global economy. While the batch of gloomy data has boosted hopes for further central bank actions, some economists remain skeptical that there would be any significant effects.
August Jobs Report, ECB Meeting: Economic Events for Sept. 4-7
During the holiday week, economy-watchers are likely to focus on Friday's August nonfarm payrolls report and the European Central Bank’s governing council meeting, on Sept. 6.
Barclays Makes £500M Betting On Food Crisis, While Millions Face Starvation
Barclays PLC, which is still trying to recover from the recent Libor rate-rigging scandal, has prompted fresh criticism as allegations emerged that the British bank has been profiting handsomely from world hunger by betting on food crisis and helping to push prices up.
Storm Isaac Departs Gulf Coast, Leaving Trail Of Destruction [PHOTOS]
Gulf Coast residents are spending Labor Day weekend cleaning up the mess left behind by Hurricane Isaac, which pushed north on Friday into the central U.S. after leaving entire water-logged neighborhoods without lights, air conditioning or clean water.
Syrian Rebels Seize Air Defense Base As Turks Push For Refugee Safe Zones
Syrian warplanes and ground forces bombarded the country's largest city Aleppo on Saturday as government troops struggle to clear the city of lightly-armed rebel forces nearly five weeks after they stormed their way into it, activists said.
Apple Vs Samsung Lawsuit: Apple Is Trying To Block iPhone Competition, Says Samsung
Samsung Electronics Co., Ltd. (KRX: 005930) on Saturday accused Apple Inc. (Nasdaq: AAPL) of resorting to litigation in an attempt to limit consumer choice after the iPhone maker said it was seeking to halt U.S. sales of Galaxy S3 smartphones.
Fast Food At Papa John's, McDonald's, KFC, And Others May Soon Come With An Obamacare Surcharge
Fast-food franchise owners say the Affordable Care Act could virtually put them out of business with its requirements that they provide health-care coverage.
French Banks Race To Dump Greek Assets
France's largest banks, Societe Generale SA (EPA: GLE) and Credit Agricole SA (EPA: ACA), are stepping up moves to unload their Greek subsidiaries and sever their unhappy ties to the crisis-hit country.
Caterpillar Bullish On China, Expects Beijing To Hike Policy Easing To Lift Growth
Caterpillar Inc. (NYSE: CAT), the world's largest maker of construction and mining equipment, is confident that Beijing will step up easing efforts to drive an economic rebound and China's economic growth will probably recover this year.
US Initial Jobless Claims Unchanged At 372,000, Higher Than Expected
More Americans than forecast filed applications for new jobless benefits last week, the Labor Dept. said Thursday, suggesting that the labor market is barely healing.
Chinese Banks' Bad Loan Nightmare
China's credit risk is probably much worse than the official non-performing loan (NPL) data suggests, according to Société Générale's China macro strategist Wei Yao.
The Top 5 Most Indebted States In The US
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.
US 2Q GDP Revised Up To 1.7%, Stock Futures Point To Slight Gains
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.
Boeing, Airbus Battleground Shifts To Asia-Pacific
As the deepening sovereign debt crisis in Europe dampens air travel demands in the region, the world's two largest airplane makers, Boeing Co. (NYSE: BA) and Airbus S.A.S. (EPA: EAD), are now bringing their fierce competition to the Asia-Pacific skies.
Kansas City Fed Jackson Hole 2012: Ben Bernanke Will Likely Disappoint On QE3 Hopes
Will Federal Reserve Chairman Ben Bernanke launch QE3 from the Federal Reserve Bank of Kansas City's annual Jackson Hole symposium, which will take place from Aug. 30 to Sept. 1? Economists doubt it.
Jackson Hole, Bernanke And Draghi: Economic Events for Aug. 27-31
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.
Corporate Debt Issuance In August Sets Record, Analysts Warn Of Junk Bonds
This month has been the busiest August on record for global corporate bond issuance as low-risk free yields on government bonds pushed investors to find better returns in corporate credit.
