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Latest Economic history Stories

2009-05-18 07:15:00

April's retail figures, down 0.4 percent compared to March, derailed a two-month rally in U.S. stock markets last week. The Dow Jones industrial average plunged 184.22 points Wednesday -- down 2.18 percent -- and failed to gain traction for the rest of the week, gaining 46 points Thursday and losing 62 Friday. It seems an odd recovery with unemployment expected to rise through the end of the year and major U.S. automakers Chrysler LLC and General Motors Corp. shuttering about a third of...

2009-05-14 19:55:53

Foreign direct investments in China fell sharply in April, but analysts in the country said they are not concerned. China will continue to be one of the main venues for FDIs this year, China Daily reported Friday, quoting the analysts. China Daily said the Dow Jones had reported April's FDI totaled $5.89 billion, down 22.51 percent from the same month of last year, but added the Chinese Ministry of Commerce had not confirmed the numbers. It also quoted experts as saying they didn't think the...

2009-05-11 06:18:54

Numbers that looked scary a year ago, like April's job losses, are now fueling hope investors will soon replace the word rebound with the word recovery. April's non-farm job losses came in at 539,000 Friday and are nothing to cheer about until you compare them to March when nearly 700,000 jobs were lost. Suddenly, the trend looks positive, even as the unemployment rate jumped from 8.5 percent to 8.9 percent and is predicted to go higher still. The aggregate numbers are in focus now. There...

2009-05-05 11:45:00

-Develops Components for a Cleaner, Lower-Cost Vehicle- HANFORD, Calif., May 5 /PRNewswire-FirstCall/ -- Thresher Industries, Inc. (Pink Sheets: THRR), a California-based manufacturer of precision recycled aluminum and advanced metal matrix composite parts, announced today that it is developing a wide range of high-strength, cast aluminum components that can help build cleaner, energy efficient vehicles for the global automotive industry. To date, Thresher's proprietary, biodegradable...

2009-05-01 09:05:39

U.S. stocks began May slightly down in early trading in New York Friday after closing out April with some of the strongest monthly gains in years. Dow Jones industrial average trading was off 0.44 percent, down 36.32 points at 8,131.80 points. Nasdaq was off 0.56 percent, down 9.57 points to 1,707.73. The Standard & Poors 500 was at 868.79, down 4.05 points, or 0.46 percent. April was a banner month for shares worldwide, The Wall Street Journal reported. The Dow Jones World Index rose 12...

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2009-04-24 15:31:35

U.S. markets turned higher Friday on corporate reports that beat investors' expectations. Despite of declining revenues, Microsoft Corp, shares increased. Ford Motor Co. posted a loss of $1.4 billion but said it has enough cash to avoid turning to the government for help. Ford shares rose 13 percent. Microsoft shares gained 10 percent. The Commerce Department said new durable good orders dropped 0.8 percent in March. Analysts had expected a 1.4 percent decline. By close, the Dow Jones...

2009-04-20 14:04:55

The Confederation of British Industry said the current recession had turned a corner, but a quick recovery was not in the cards. CBI said Monday the worst was over, The Times of London reported. The recovery, however, was expected to be slow and fragile. CBI said the country's gross domestic product would need to wait until the spring of 2010 to grow. It predicted the number of unemployed in Britain, before the recession passed, would reach 3.25 million, The Times said. Ernst & Young ITEM...

2009-04-10 06:50:03

Stock markets in Asia and Europe posted gains Friday following an outburst of optimism in U.S. markets sparked by Wells Fargo & Co. The San Francisco bank said its purchase of Wachovia Corp. had put a 40 percent bonus into its revenue stream and that it expected to announce a record $3 billion profit for the first quarter. On Thursday, financial firms lead the charge to higher numbers, with Citigroup Inc., Wells Fargo, and Bank of America showing gains of 10.74 percent, 26.34 percent and...

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2009-03-30 08:55:00

U.S. markets dropped sharply Monday after the U.S. government said General Motors Corp. and Chrysler LLC were in danger of losing their federal life support. The government forced GM Chief Executive Officer Rick Wagoner to step aside and gave GM 60 days to nail down concessions with debt holders and union workers. Officials said Chrysler's hopes for more federal loans based on the company striking a deal with Italian automaker Fiat. In midmorning trading, the Dow Jones industrial average...

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2009-03-27 09:20:10

U.S. markets stumbled early Friday as Washington lawmakers focused on regulatory reform for financial systems. President Barack Obama was scheduled to meet with bank executives Friday to follow up on Treasury Secretary Timothy Geithner's draft of regulatory changes, pitched without much detail Thursday to the House Financial Service Committee. In midmorning trading, the Dow Jones industrial average shed 126.16 points, or 1.59 percent, to 7,798.40. The Standard & Poor's 500 fell 1.69...