Fed weighs whether economic revival programs should be slowed amid some signs of improvementWASHINGTON — With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down. FedEx sees “extremely difficult” quarters ahead, as business and consumers ship fewer packagesNEW YORK — FedEx, the nation’s second largest package shipper, lost more money in the last quarter, as consumers and businesses downsized shipments and the company took over $1 billion in one-time charges. Jobless rates rise in all 372 metro areas in April, part of Indiana again posts biggest gainWASHINGTON — Jobless rates rose in all the largest U.S. metropolitan areas for the fourth straight month in April, a trend likely to persist even as the recession eases. Even as layoffs slow, job openings remain scarce as companies reluctant to take on new workersWASHINGTON — Companies may be laying off workers at a slower pace, but that doesn’t mean more businesses are hiring. Oil well above $59 as investors bet worst of US recession overVIENNA — Oil prices rose well above $59 a barrel on Tuesday, boosted by investor hopes that the U.S. recession may have bottomed out. Obama plans to spend $5 billion to turn around 5,000 failing schoolsWASHINGTON — President Barack Obama intends to use $5 billion to prod local officials to close failing schools and reopen them with new teachers and principals. Arizona makes “unconventional” promotion of 34-year-old Hinch to managerPHOENIX — After firing Bob Melvin, the Arizona Diamondbacks have turned their fortunes over to a 34-year-old former catcher with no experience as a manager. Murdoch says ‘worst is over’ for News Corp. as 3rd-quarter net meets Wall Street expectationsLOS ANGELES — Media conglomerate News Corp. reported third-quarter earnings in line with lowered Wall Street forecasts on Wednesday, leading Rupert Murdoch to say “the worst is over” for his company’s movie, TV and newspaper businesses. Stocks open higher on Labor Department report showing drop in job lossesNEW YORK — Stocks soared in early trading Friday as Wall Street cheered the positive news it had been hoping for: job losses slowed in April and big banks don’t need as much capital as feared. Job losses slow to 539,000 in April; jobless rate rises to 8.9 percent, highest since 1983WASHINGTON — The pace of layoffs slowed in April, with employers cutting 539,000 jobs, the fewest in six months. But the unemployment rate climbed to 8.9 percent as many businesses remained wary of hiring given all the economic and financial uncertainties. THE INFLUENCE GAME: Local governments hire lobbyists to help them weather tough economic timesWASHINGTON — They’re furloughing many city workers for eight days this summer. They’ve cut staffing by about 5 percent. Now officials in Tracy, Calif., are trying another way to help make ends meet in these tough economic times: They’ve hired a Washington lobbyist. Bunny Ranch pimp offers disgraced Gov. Blagojevich an apprentice’s job!NEW YORK - After ex-Illinois Gov. Rod Blagojevich was arrested on federal corruption charges he was left without a job, but now Bunny Ranch pimp Dennis Hof has come forward to offer him one. USC hires Los Angeles Sparks coach Michael Cooper to oversee women’s basketball teamLOS ANGELES — Michael Cooper will leave the Los Angeles Sparks to coach Southern California’s women’s basketball team. Summer resorts, usually staffed by foreign workers and teens, turn to US unemployedPROVIDENCE, R.I. — This summer, the guy running the Tilt-A-Whirl at the beach might be a laid-off, middle-aged accountant instead of the usual bored teenager. And the towel boy at the pool might be from East Providence instead of Eastern Europe. New jobless claims drop unexpectedly to 631,000, those continuing to draw aid tops 6.3 millionWASHINGTON — The number of newly laid-off workers signing up for unemployment benefits dropped unexpectedly last week, but the number of people continuing to draw jobless aid rose to nearly 6.3 million, setting a record high for the 13th straight week. New jobless claims drop unexpectedly to 631,000, those continuing to draw aid tops 6.3 millionWASHINGTON — The number of newly laid-off workers signing up for unemployment benefits dropped unexpectedly last week, but the number of people continuing to draw jobless aid rose to nearly 6.3 million, setting a record high for the 13th straight week. Meltdown 101: What is the Conference Board, and why does its Consumer Confidence Index matter?NEW YORK — The closely watched Consumer Confidence Index soared in April to the highest level seen since November, according to the Conference Board, which puts out this measure of public sentiment each month. Report: California air traffic control facilities rely heavily on inexperienced traineesWASHINGTON — The nation’s busiest air traffic control facility in Southern California relies heavily on inexperienced trainees, who are expected to make up more than 40 percent of controllers there later this year, according to a report released Monday. Report: California air traffic controller facilities rely heavily on inexperienced traineesWASHINGTON — The nation’s busiest air traffic control facility in Southern California relies heavily on inexperienced trainees, who are expected to make up more than 40 percent of controllers there later this year, according to a report released Monday. ‘Madge’s high powered pals helping toyboy Luz’s career’NEW YORK - Madonna’s high-powered connections in the fashion industry are lending a helping hand to her alleged toyboy lover Jesus Luz, according to reports. US bill aims to make it tough to hire foreign workersWASHINGTON - Two US senators have introduced a bill to make it tougher for American firms to employ foreign professionals under its H-1B and L1 visa programmes utilised the most by Indians and the Chinese. Sacramento Kings fire interim coach Kenny Natt, 4 assistants after NBA-worst seasonSACRAMENTO, Calif. — The Sacramento Kings fired interim coach Kenny Natt and his four assistants Thursday, a week after the club finished with the NBA’s worst record. House approves funds for 50,000 new officers under Clinton-era community police programWASHINGTON — The House approved money Thursday to help local police departments hire and retain 50,000 officers over the next five years, expanding a Clinton-era community policing program that struggled to survive under the Bush administration. Senate wants $5M to study financial crisis, on track to approve $245 million targeting fraudWASHINGTON — The Senate has agreed to spend $5 million to investigate the cause of the economic crisis as it moves toward passing a $245 million bill that would substantially increase the number of FBI agents and prosecutors working mortgage fraud. BYU forward Tavernari entering NBA draft, but not hiring agentPROVO, Utah — BYU forward Jonathan Tavernari will declare for the NBA draft, but will not hire an agent and remain eligible if he decides to return for his senior season. Amid scandal, NYC comptroller joins state in bans lobbyists from state pension investmentsNEW YORK — New York City’s comptroller has joined state officials in saying he wants to ban lobbyists known as placement agents from soliciting business from government pension funds. Supreme Court weighs claims of reverse discrimination in firefighters’ lawsuitWASHINGTON — The Supreme Court is weighing whether a Connecticut city’s decision to scrap a promotion exam for firefighters because too few minorities passed violates the civil rights of top-scoring white applicants. Fifth Third Bancorp CEO seeks to reassure shareholders as bank struggles with recessionCINCINNATI — Fifth Third Bancorp’s chief executive sought to reassure shareholders Tuesday as the troubled regional bank copes with dramatically lower stock prices and dividends. British immigration minister slams ’sinister’ statisticsLONDON - The British minister for immigration has accused the country’s independent statistics office of ’sinister’ motives after it said one in nine British residents were born abroad. Obama, Brown seek concerted G20 action to fight economic crisisWASHINGTON - President Barack Obama and British Prime Minister Gordon Brown have called for coordinated action by 20 major developed and emerging economies to fight the worldwide economic crisis. |
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