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Economic News
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- Feb. retail-sales report offers positive surprise
(AP)12 March 2010, 4:30 pm
AP - Retail sales posted a surprising increase in February as consumers did not let major snowstorms stop them from racking up purchases. The advance, the biggest since November, provided hope that the recovery from the Great Recession is gaining momentum....
- Consumer sentiment dipped in early March
(Reuters)12 March 2010, 4:11 pm
Reuters - U.S. consumer sentiment declined slightly in early March, with Americans less positive about the job outlook, a survey released on Friday showed.... - Obama eyes dovish policymaker as Fed number two: reports
(AFP)12 March 2010, 3:54 pm
AFP - US President Barack Obama plans to nominate San Francisco regional central bank chief Janet Yellen, a policy dove, as Federal Reserve Board number two, news reports said Friday.... - Unemployment higher among young war veterans
(AP)12 March 2010, 3:51 pm
AP - The Labor Department says the unemployment rate for young Iraq and Afghanistan veterans was 21.1 percent last year.... - Retail sales rise as shoppers fight winter blues
(Reuters)12 March 2010, 3:31 pm
Reuters - U.S. retail sales rose unexpectedly last month despite heavy snow storms and a drop in vehicle purchases by consumers spooked by Toyota recalls, bolstering hopes of a sustainable economic recovery.... - Obama to tap Yellen for Fed vice chair: source
(Reuters)12 March 2010, 3:23 pm
Reuters - President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen, a respected policy dove, to be vice chairman of the central bank, a source familiar with the process said on Thursday.... - New slide in US videogame sales
(AFP)12 March 2010, 3:21 pm
AFP - NPD Group on Thursday said US videogame sales slid 15 percent in February to 1.26 billion dollars, defying optimism that the industry would rebound on a reviving economy.... - Business inventories flat in January
(AP)12 March 2010, 3:15 pm
AP - Business inventories were basically flat in January even though sales rose for an eighth consecutive month.... - (AP)12 March 2010, 3:01 pm
AP - Business inventories unchanged in January as total sales increase for eighth conscutive month.... - UBS urges parliament to back U.S. tax deal: report
(Reuters)12 March 2010, 2:43 pm
Reuters - Switzerland's UBS has warned parliamentarians failure to back a deal to end its bitter U.S. tax row with the bank could result in a damaging backlash for Swiss banks as well as the Alpine nation's economy.... - Canada's unemployment rate drops
(AP)12 March 2010, 2:02 pm
AP - Canada's unemployment rate has slipped to 8.2 percent as the economy gained 21,000 jobs.... - AP Source: Obama wants Yellen as Fed vice chair
(AP)12 March 2010, 12:19 pm
AP - President Barack Obama intends to nominate Janet Yellen, the president of the Federal Reserve Bank of San Francisco, to take over as vice chairman of the Federal Reserve, a person familiar with the selection said Friday.... - Dollar mixed before US data
(AFP)12 March 2010, 12:08 pm
AFP - The dollar traded mixed on Friday before the publication of official US economic data, while the yen was also in focus after Japan's leader called for "firm steps" against the currency's recent rise.... - European stock markets gain ground
(AFP)12 March 2010, 11:58 am
AFP - Europe's main stock markets rose Friday as investors awaited crucial economic data and tracked US attempts to rein in the banking sector, dealers said.... - Eurozone industrial productions soars in January
(AP)12 March 2010, 10:26 am
AP - Industrial production in the 16 countries that use the euro spiked by an impressive 1.7 percent in January from the month before, official figures showed Friday, raising hopes that the recovery from recession may be more buoyant than expected.... - Greek jobless rate eases but recession entrenched
(Reuters)12 March 2010, 10:09 am
Reuters - Greece's gross domestic product shrank slightly less than feared at the end of 2009 and unemployment eased, but the economy looked set to deteriorate as the government imposes major cutbacks.... - U.S. "very close" to job growth: Summers
(Reuters)12 March 2010, 2:37 am
Reuters - White House economic adviser Larry Summers said on Thursday that the United States is "very close" to the point where job growth can begin. (Reporting by Chris Baltimore; editing by Carol Bishopric)... - Regulators shut LibertyPointe Bank in NYC
(AP)12 March 2010, 1:27 am
AP - Regulators on Thursday shut down LibertyPointe Bank in New York City, boosting to 27 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.... - US criticizes China's domestic, economic policies
(AP)12 March 2010, 1:06 am
AP - The Obama administration accused China on Thursday of abusing its citizens' rights and maintaining currency policies that cost millions of U.S. jobs, a double-barrel attack that comes amid a growing willingness to confront and even antagonize the Asian power.... - Slowly, Americans are regaining their lost wealth
(AP)12 March 2010, 12:06 am
AP - Americans are recovering their shrunken wealth — gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. But the gain was slight. And it was less than in the previous two quarters....
