Businesses slash inventories again in July, but sales post first back-to-back gains in a yearWASHINGTON — Businesses slashed their inventories for the 12th straight month in July, but sales posted a second consecutive gain, providing hope that companies soon will switch from trimming stockpiles to increasing their orders. Airline trade group raises 2009 loss estimate to $11 billion; no profits until 2011Global airline losses are headed for a worse-than-expected $11 billion this year and it’s not clear when lucrative business travel will rebound to pre-recession levels, a trade group said on Tuesday. Fed’s actions helped save banking system, but also bring new risks for consumers, businessesWASHINGTON — The Federal Reserve’s bold steps to prevent the banking industry from collapsing last year have injected new dangers into the financial system. Finance minister: Serbia must lay off 14,000 state workers to meet IMF aid conditionsBELGRADE, Serbia — Serbia will have to lay off about one-fifth of its government employees — 14,000 people — to meet conditions set by the International Monetary Fund to receive more financial aid, the country’s finance minister said Monday. France’s Sarkozy calls for ‘revolution’ in measuring economic growth to account for well-beingPARIS — French President Nicolas Sarkozy asked world leaders to join a “revolution” in the measurement of economic progress by dropping their obsession with gross domestic product to account for factors such as health-care availability and leisure time. EU sees recession ending in third quarter, warns that upswing will be weakBRUSSELS — The European Union said Monday that the recession in the euro-zone and EU will likely have ended in the third quarter with the resumption of modest economic growth. Merkel pushes economic growth in German election debate, challenger urges ’social balance’BERLIN — Chancellor Angela Merkel faced her challenger in a subdued TV debate two weeks before German elections, arguing Sunday that the country needs a new center-right government to boost Europe’s biggest economy as it emerges from recession. Federal deficit climbs higher into record territory, hits $1.38 trillion in first 11 monthsWASHINGTON — The federal deficit surged higher into record territory in August, hitting $1.38 trillion with one month left in the budget year. July wholesale figures signal economic growth in current quarter; inventories dip, sales growWASHINGTON — Businesses reduced inventories at the wholesale level for a record 11th consecutive month in July, although sales rose by the largest amount in more than a year, sparking hope for better days ahead. 1% interest subvention on housing loans upto Rs.10 lakhNew Delhi, Sept 11 (IBNS) The Cabinet has approved the Scheme of 1% interest subvention on housing loans up to Rs.10 lakh and the allocation of a sum of Rs.1000 crore for the Scheme. Japan’s 2Q growth weaker than first estimated but shows recovery after yearlong contractionTOKYO — Japan’s growth in the second quarter was weaker than initially thought, but government figures still show that the world’s second largest economy has managed to climb out of a recession. Great Recession, high gas prices force American car buyers to downsize auto ambitionsANN ARBOR, Mich. — Big cars and trucks are out. Smaller ones that offer more for your dollar are in. And many drivers will hang onto the new cars they buy longer. Trade deficit grows, but growth in imports and exports shows demand rising as recession fadesWASHINGTON — The ending of the recession is reviving global trade, increasing U.S. imports by a record amount in July and boosting foreign demand for American goods for a third straight month. Jump in imports of oil and autos pushes July trade deficit up to highest amount in 6 monthsWASHINGTON — The U.S. trade deficit shot up in July to the highest level in six months as a surge in shipments of foreign oil and autos pushed imports up by a record amount. New jobless claims fall more than expected to 550,000, total unemployment rolls also dropWASHINGTON — First-time claims for jobless benefits fell more than expected last week, evidence that companies are laying off fewer workers as the economy improves. Fed findings indicate recession may be over; Fed says most of US stabilizing or improvingWASHINGTON — Economic activity is stabilizing or improving in the vast majority of the country, according to a government survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over. Worst recession since 1930s appears to be over; Fed finds most of US stabilizing or improvingWASHINGTON — Economic activity is stabilizing or improving in the vast majority of the country, according to a government survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over. Federal Reserve survey shows worst recession since 1930s may be overWASHINGTON — The recession is ending and the economy is finally growing again. That’s the message implicit in the Federal Reserve’s latest survey of businesses around the country, which found economic activity stabilizing or improving in most regions. Mexican president proposes elimination of 3 government departments in austerity planMEXICO CITY — Mexican President Felipe Calderon on Tuesday proposed eliminating three government departments and raising some taxes in a government austerity plan that will help free up some money for fighting poverty. Even if shoppers’ willingness to spend returns, ability likely to be constrained for yearsCHICAGO — A year after “shop ’til you drop” stopped, the nation fixates on this question: Will consumer spending ever return to pre-recession levels? A year after meltdown, economy sets out tough questions, difficult choicesNEW YORK — Where do we go from here? AP: Those losing their first jobs or nearing retirement face extra challenges after layoffsORLANDO, Fla. — Marcus Wells and Shirley Walker view their economic prospects from opposite ends of the age spectrum. Anatomy of a meltdown: How the financial crisis unfolded in 5 terrifying weeksNEW YORK — The nation was focused on a tropical storm spinning off the Carolinas and a hurricane headed for Florida. People were gaming out how a political novice named Sarah Palin might upend the presidential campaign. G-20 pledge continued economic stimulus, reach compromise on plan to limit bankers’ bonusesLONDON — Top finance officials from rich and developing countries agreed Saturday to curb hefty bankers’ bonuses, but the proposed crackdown on excessive payouts so far falls short of European demands after the U.S. and Britain shied away from imposing a cap. Brown warns against complacency as G20 officials gather amid mounting signs of recoveryLONDON — Top finance officials from rich and developing countries are expected to commit to efforts to boost growth after holding talks here Saturday, despite fledging signs of an economic recovery. Economic rebound will be difficult as jobless rate hits 9.7 pct, signaling reluctance to hireWASHINGTON — At least it’s not all bad anymore. New jobless claims dip less than expected, sign that weak labor market will hinder recoveryWASHINGTON — New claims for jobless aid fell less than expected last week, and the number of people continuing to receive unemployment benefits rose — further signs that any economic recovery will be hindered by a weak job market and flat incomes. New jobless claims dip less than expected to 570,000; continuing claims rise to 6.2 millionWASHINGTON — New jobless claims fell slightly last week while the number of people receiving unemployment benefits rose, a sign the job market’s recovery will be long and bumpy. Economy flashing more signals that recovery is beginning but worries remain over durabilityWASHINGTON — Productivity and factory orders are up as the economy continues to flash signals that the longest recession since World War II is coming to an end. However, worries remain about how durable the rebound will be given lingering problems in the labor market. Productivity jumps in spring on cost cuts, but stronger consumer demand needed for recoveryWASHINGTON — Companies managed to boost their workers’ productivity and their own profits in the spring mainly by slashing costs and capping their employees’ pay. |
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