Archive for 'Economy'

McCain voices support for Arizona mine (AP)

Posted on 16. Jan, 2010 by Yahoo! News: Economy News.

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AP - Arizona Sen. John McCain says a huge open pit mine project proposed for the eastern slope of the Santa Rita Mountains, south of Tucson, can be good for the economy and unemployed Arizonans.

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House panel asks Paulson to testify in AIG probe (Reuters)

Posted on 16. Jan, 2010 by Yahoo! News: Economy News.

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Reuters - A House panel slated to look into the collapse and bailout of insurer American International Group has widened its probe, adding former Treasury Secretary Henry Paulson to its list of invited witnesses.

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Banks in Ill., Minn., Utah are shuttered (AP)

Posted on 15. Jan, 2010 by Yahoo! News: Economy News.

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AP - Regulators shut down banks in Illinois, Minnesota and Utah on Friday, bringing to four the number of bank failures so far in 2010, following 140 closures last year amid the weak economy and mounting loan defaults.

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US unemployment hits blacks, Hispanics worst: study (AFP)

Posted on 15. Jan, 2010 by Yahoo! News: Economy News.

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Job seekers look over job listings on display at the One Stop Career Link center in 2009 in San Francisco, California. Unemployment rates in the United States are expected to remain high in 2010, but a new study says black and Hispanic workers will suffer significantly more than their white counterparts.(AFP/Getty Images/File/Justin Sullivan)AFP - Unemployment rates in the United States are expected to remain high in 2010, but a new study says black and Hispanic workers will suffer significantly more than their white counterparts.


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HUD acts to speed foreclosed properties resales (Reuters)

Posted on 15. Jan, 2010 by Yahoo! News: Economy News.

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Reuters - The U.S. government is taking action to speed the resale of foreclosed properties by temporarily expanding access to Federal Housing Administration mortgage insurance, U.S. housing officials said on Friday.

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Consumers are squeezed as inflation outpaces wages (AP)

Posted on 15. Jan, 2010 by Yahoo! News: Economy News.

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In this photo made Dec. 8, 2009, a butcher puts out meat at Costco in Mountain View, Calif. Consumer prices rose 2.7 percent for all of 2009 because of a surge in energy prices which offset the biggest drop in food costs in nearly a half century. (AP Photo/Paul Sakuma)AP - The spending power of families is being squeezed, government data showed Friday, highlighting doubts about consumers' ability to drive the economic rebound.


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New Credit Card Rules Start On Feb. 22 (Investor’s Business Daily)

Posted on 15. Jan, 2010 by Yahoo! News: Economy News.

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Investor's Business Daily - Marching on orders issued by Congress in May, the Federal Reserve issued rules on Jan. 2 aimed at cushioning credit card holders from various interest-rate hikes and fees.

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AIG probe widens to include Paulson, Friedman (AP)

Posted on 15. Jan, 2010 by Yahoo! News: Economy News.

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AP - A House committee is broadening its probe of secretive bank bailouts to include former Treasury Secretary Henry Paulson and former Federal Reserve Bank of New York Chairman Stephen Friedman.

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U.S. inflation tame, industrial output rises (Reuters)

Posted on 15. Jan, 2010 by Yahoo! News: Economy News.

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Holiday shoppers pack Macy's department store in Herald Square in New York December 23, 2009. REUTERS/Mike SegarReuters - U.S. consumer prices rose modestly last month, while industrial output rose on a cold snap, suggesting the economy was growing but not generating a level of inflation that would spur the Federal Reserve to roll back from its stimulative policies.


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JPMorgan Chase profits rise, but so do loan losses (AP)

Posted on 15. Jan, 2010 by Yahoo! News: Economy News.

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A luxury limousine is parked in front of JPMorgan Chase & Co. headquarters, left, Thursday,  Jan. 14, 2010 in New York.  Together, the six biggest U.S. banks, including JPMorgan Chase, are on pace to pay $150 billion in total compensation for 2009, slightly less than the record $164 billion in 2007 before the financial crisis struck, according to the New York state comptroller's office. (AP Photo/Mark Lennihan)AP - JPMorgan Chase & Co.'s $3.28 billion profit report carried a sobering message: Consumers are still struggling to pay off their loans, posing a threat to a strong economic recovery.


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