Detroit's economy wasn't exactly in great standing before the housing bubble burst, before the automotive manufacturing that supports the community burst. It was already a case of haves, and have-nots. But when it all came crumbling down, with automakers slashing jobs and two filing for bankrtuptcy -- General Motors and Chrysler -- the shaky pedestal gave way.
Romney won a significant victory in New Hampshire Tuesday, carrying the open primary and becoming the first Republican to win both New Hampshire and Iowa in the primaries since 1976. But more remarkable than Romney's 2012 win is whose votes gave him the victory: Romney supporters crossed every demographic, from age brackets to ideological concerns.
One woman was killed on Tuesday when prospective students waiting outside the University of Johannesburg in South Africa stampeded to get into the school's admissions office.
Consumer credit surged in November by the most since October 2001, rising 10.0 percent on higher credit card debt and more student loans doled out by the government, a Federal Reserve report showed on Monday.
In a stadium packed with tens of thousands of dancing revelers, South Africa's ruling party, the African National Congress, celebrated its 100th anniversary Sunday, amid accusations that it has not delivered on its promises since taking power in 1994, namely resolving outstanding issues with poverty and unemployment.
Freddie Mac, the large federally controlled mortgage guarantor, announced that it would allow unemployed borrowers to delay mortgage payments for up to 12 months under a new plan.
Stock index futures edged higher on Monday as investors focused on a European meeting intended to find ways to boost the region's economies and tackle a debt crisis and prepared for the start of U.S. corporate earnings.
The German and French leaders meet on Monday to discuss ways to boost growth in euro zone states struggling to overcome the sovereign debt crisis and rising unemployment, and finalise a deal to increase fiscal coordination within the currency union.
Signs the recovery is gaining strength suggest the Federal Reserve may not need to buy any more bonds to spur growth, a top policymaker said.
South African President Jacob Zuma led a purification ceremony at the site in Bloemfontein where the African National Congress was born 100 years ago. Many say the party needs cleansing itself.
Signs the U.S. recovery is gaining strength indicate the Federal Reserve may not need to buy any more bonds to spur growth, James Bullard, president of the Federal Reserve Bank of St. Louis, said on Saturday: I don't think it's very likely right now because the tone of the data has been pretty strong recently.
Three top Federal Reserve officials aggressively pushed on Friday for more stimulus for the U.S. housing market, saying the government should be looking at ways to help the sector for the purpose of speeding the country's economic recovery.
The United States Department of Labor released the December 2011 Employment Situation report on Friday, presenting a broad-based growth in the labor market in December.
U.S. employment growth accelerated last month and the jobless rate dropped to a near three-year low of 8.5 percent, the strongest evidence yet the country's economic recovery is gaining steam.
U.S. President Barack Obama kicked off an effort to encourage businesses to keep jobs at home instead of outsourcing them overseas, as he rolled out a new election-year theme on Saturday aimed at courting middle-class voters.
According to official figures released by the U.S. government, unemployment rates in the country are hovering around 8.6 percent. However, the American Enterprise Institute (AEI) suggests that a better measure of the real jobless rate -the U-6 - stands at 15.6 percent.
Toronto's main stock index finished lower for the first time this year on Friday, as resource and financial issues fell after Canadian and U.S. jobs data failed to impress investors.
Canada gained 17,500 jobs in December, but the jobless rate rose and the new positions were all part time, further evidence its post-recession hiring surge has ended even as U.S. jobs growth finally picks up the pace.
Despite an upswing in hiring during 2011, the jobs crisis could last many more years as millions of Americans struggle to find work.
U.S. employment growth accelerated last month and the jobless rate dropped to a near three-year low of 8.5 percent, the strongest evidence yet the economic recovery is gaining steam.
Employment growth accelerated last month and the jobless rate dropped to a near three-year low of 8.5 percent, the strongest evidence yet the economic recovery is gaining steam.
Jamaican Prime Minister Portia Simpson Miller said during the swearing in ceremony that the country should become a republic. To do so, Jamaica would have to drop Queen Elizabeth II of England as its head of state.
