Dovish FOMC Minutes, US Trade Deficit, China Q2 GDP: Economic Events For July 9-13
This week?s focus will be the June Federal Open Market Committee minutes, U.S. trade deficit and China's Q2 GDP.
WellPoint To Buy Amerigroup For $4.9B
Health Insurer WellPoint Inc. (NYSE: WLP) agreed to buy the managed-care company Amerigroup Corporation (NYSE: AGP) in a roughly $4.9 billion cash deal to expand its presence in Medicaid space.
Are Foreign Holdings Of US National Debt A Threat To Our Economy?
As the U.S. government spends an unprecedented amount of money to fix the economy, there's an equal need to raise the cash needed to pay for those fixes. As a result, Uncle Sam is forced to borrow from countries with high savings rates, such as China, to help cover the budget deficit.
Americans Too Broke To Go Bankrupt? US Bankruptcy Filings On Pace To Fall To Pre-2008 Level
The pace of bankruptcy filings in the U.S. is slowing down to pre-recession levels, but don?t cheer just yet ?because hundreds of thousands of Americans might have been too broke to file for bankruptcy.
June US Unemployment Rate Holds At 8.2%, Payrolls Up Only 80,000
Non-farm payrolls rose by a paltry 80,000 in June, while the unemployment rate remained stuck at 8.2 percent as the labor participation rate was unchanged at 63.8, the Labor Department said Friday. Economists polled by Thomson Reuters had called for a total gain of 90,000 jobs.
JPMorgan, Wells Fargo, Alcoa: 6 Earnings Reports To Watch, July 9-13
Earnings season for the second quarter is almost here, with America's biggest aluminum producer, Alcoa Inc., announcing its results on Monday and JPMorgan Chase & Co. disclosing a portion of its total derivatives-trading losses on Friday the 13th.
US June 2012 Retail Sales Roundup: Macy?s, Target Among The Hardest Hit By Stagnant Economy
Consumers, spooked by months of sluggish hiring and a global slowdown, pulled back on spending in June, which took a toll on top U.S. retailers' sales.
ISM Services Index In US Slows To 30-Month Low In June
The Institute for Supply Management said its services sector index, which covers about 90 percent of the economy, dropped to 52.1 in June from the prior month's 53.7, to mark the worst reading since January 2010.
Challenger: US Planned Job Cuts Fall To 13-Month Low In June
Planned layoffs fell to a 13-month low in June as U.S. employers announced 37,551 job cuts, a 39 percent reduction from May, according to a report from consultants Challenger, Gray & Christmas Inc.
US Initial Jobless Claims Fall to 374,000 In Biggest Decline Since April
The number of Americans lining up for new jobless benefits last week had its biggest decline in two months, the Labor Department said Thursday, easing fear that the labor market recovery was stalling.
US Unemployment Rate Likely To Hold At 8.2% In June, With Little Job Growth Improvement
The U.S. labor market has lost a step since spring and the trend of lackluster job growth will likely continue into June.
Euro Zone Unemployment Hit Record High In May, PMI At 3-Year Low
Unemployment in the euro zone rose to a new record high in May, while manufacturing activities fell for the 11th consecutive month in June. The numbers increase the likelihood the European Central Bank will cut its key interest rate when its governing council meets Thursday.
June Nonfarm Payrolls, Auto And Same-Store Sales: Economic Events For July 2-6
While this week will be interrupted midway by the Fourth of July holiday, the barbecues and fireworks are unlikely to take away from the importance of Friday's June nonfarm payrolls report. Monday's ISM manufacturing index will also be in focus.
The World?s Top 10 Best-Reviewed Hotels: Plan Your Summer Getaway
It's summertime, and undoubtedly you are planning a fantastic getaway to beat the summer heat. Want to get the most bang for your travel buck? Here is a handy hotel guide to get you started.
Yitzhak Shamir, Former Israeli Prime Minister, Dies At 96
Former Israeli Prime Minister Yitzhak Shamir, who clung throughout his life to the belief that Israel should hang on to territory and never trust an Arab regime, passed away at 96 in a nursing home in Herzliya, Israeli officials said Saturday.
3 States Declare Emergency After Eastern US Storms Leave 9 Dead, 4 Million Without Power And Heat Wave Continues
A fierce line of thunderstorms and high winds that swept across the eastern U.S. have caused nine fatalities and have left millions without power -- and without air conditioning -- Saturday to deal with thermostat-popping temperatures. Three governors declared a state of emergency.
Leap Second 2012: Earth Adds Extra Second Saturday Night [VIDEO]
Blink and you'll miss it.
How Will The Supreme Court?s Decision To Uphold Obamacare Affect Small Businesses And Job Creation?
The U.S. Supreme Court on Thursday handed down its historic ruling on the Patient Protection and Affordable Care Act, largely upholding the law. But many fear that the ruling will result in a reduction in hiring and may become a further drag on our already struggling economy.
Stockton, California Becomes Largest US City To File For Bankruptcy
Stockton, California, officially filed for Chapter 9 protection Thursday after talks with bondholders and labor unions failed, making it the largest-ever U.S. city to file for bankruptcy.
May US Consumer Spending Weakest In 5 Months, Personal Income Up 0.2%
Consumer spending in the U.S. was flat in May for the first time in five months, the Commerce Department said Friday, as slower job creation and stagnant wage growth prompted Americans to cut back.
Health Care Reform Supreme Court Decision: Medicaid Providers Prepare For 16 Million New Members
There are big incentives for states to participate in the Medicaid extension.
Health Care Supreme Court Decision: Shares of Medicaid MCOs Soar
The Supreme Court health care decision confirming the constitutionality of the president's signature legislative achievement and expanding insurance to millions of low-income Americans under Medicaid will provide a large influx of new customers and notable revenue opportunity for Medicaid-focused managed-care organizations (MCOs).
Stockton Bankruptcy In 2012 Imminent, Says Calif. City Official
Stockton, Calif., will become the largest U.S. city to file for bankruptcy, which could happen as early as Wednesday, after talks with bondholders and labor unions failed.
US Durable Goods Orders Posted 1st Gain In Three Months In May
Orders for long-lasting U.S. manufactured goods posted the first gain in three months in May, but economists warn that the May data is not as good as it looks.
After Boom Always Comes A Bust -- Norway?s Housing Market Mirrors The U.S. Bubble
It is just amazing how we never learn from other people's mistakes.
World?s Top 10 Most Respected Companies?And The Award Goes To Apple
Apple Inc. (Nasdaq: AAPL), the largest company on earth by stock-market value, again took the top spot in Barron's annual survey of corporate respect.
US Home Prices Rise For 3rd Straight Month in April: Case-Shiller
Single-family home prices picked up for the third month consecutive month in April, showing signs that the housing market recovery is gaining traction.
Central Banks Already Hold 30% of Global GDP, Face Limit Of Power: BIS
Central banks are reaching the limit of their ability to boost economic growth and the potential for harmful side effects of more extraordinary monetary easing is growing, the Bank for International Settlements warned.
Greek Finance Minister Vassilis Rapanos Resigns
Greek finance minister Vassilis Rapanos will resign after only a few days in office, the prime minister's office said on Monday.
New Home Sales Jump 7.6% In May, Highest Level In 2 Years
New single-family home sales grew by 7.6 percent from April to a seasonally adjusted annual rate of 369,000 in May, the Commerce Department said Monday. The increase was much stronger than the 346,000 analysts polled by Reuters had forecast and was the highest since April 2010.
