Yahoo! News: Economy News

Economy News

• Payrolls seen falling, private hiring tepid (Reuters)

  Reuters - U.S. employment likely fell for a third straight month in August as more temporary census jobs ended and cautious businesses scaled back hiring, an outcome that could pressure the Federal Reserve to prop up growth.

  
  

• BOJ to stand pat next week, eyes easing next month (Reuters)

  Reuters - The Bank of Japan is expected to hold off on easing monetary policy next week but is gearing up for further action in October as the strong yen threatens to derail its forecast of a moderate economic recovery, sources said.

• Jobs report may show rise in unemployment rate (AP)

  AP - The unemployment rate may be about to rise again.

  
  

• US policy in spotlight as unemployment set to rise (AFP)

  AFP - A fresh batch of US unemployment figures will on Friday provide Americans with a crucial litmus test for the sputtering economic recovery and President Barack Obama's policies.

  
  

• Heavy in dollars, China warns of depreciation (Reuters)

  Reuters - China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.

• Discounts spur surprising Aug. retail sales gains (AP)

  AP - This year's back-to-school season isn't as big a bust for retailers as they feared — or as last year's — but it's not great either.

  
  

• Bumpy economy cited as helping improve U.S. roads (Reuters)

  Reuters - One upside of the worst U.S. economic slump since the Great Depression is that with fewer motorists on the road, the nation's highways are less congested and in better shape, a study said on Thursday.

• Murdoch: Global economy is still not out of turmoil (Reuters)

  Reuters - News Corp Chief Executive Rupert Murdoch said the global economy is still in an uncertain state and the media industry is going through a fundamental transformation that is unpredictable

  
  

• White House: No second stimulus being considered (Reuters)

  Reuters - The White House stressed on Thursday that no second economic stimulus package is being considered as part of new measures under review by President Barack Obama's team.

  
  

• Obama adviser Summers to visit China September 4 (Reuters)

  Reuters - The White House said on Thursday that President Barack Obama's top economic adviser will visit China from Saturday for three days of meetings.

• Bernanke takes blame for muddled message on Lehman (Reuters)

  Reuters - U.S. Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.

  
  

• Summary Box: ECB raises eurozone growth forecast (AP)

  AP - OUTLOOK IMPROVES: The European Central Bank raised its growth projections for the 16-nation eurozone after better-than-expected economic news.

• Oil prices rise after mixed economic news (AP)

  AP - Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.

  
  

• A look at economic developments around the globe (AP)

  AP - A look at economic developments and activity in major stock markets around the world Thursday:

• Bernanke: Shut down banks if they threaten system (AP)

  AP - Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.

  
  

• Summary Box: Program puts tax refunds on plastic (AP)

  AP - FASTER REFUNDS: The Treasury Department is exploring ways to help people without bank accounts collect their tax refunds more quickly. A pilot program launching next year will let some consumers get the money on cards, rather than waiting for paper checks. It could expand from there.

• Workers see higher health costs, less care (Reuters)

  Reuters - Companies are cutting healthcare costs further amid a continuing sour economy, scaling back benefits and shifting a greater share of the expense to employees.

  
  

• Highlights: Bernanke's testimony to financial crisis panel (Reuters)

  Reuters - The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony on Thursday to the Financial Crisis Inquiry Commission on the problem of financial institutions that are "too big too fail."

• Communities key in foreclosure fight: Fed officials (Reuters)

  Reuters - Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery.

  
  

• Instant View: Pending home sales rise in July (Reuters)

  Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.