Expected tourism boost halted in Appalachia as region takes greater hit from sour economy

ELBERTON, Ga. — Along the quiet banks of Lake Russell, where bees buzz and grass blows lazily in the wind, Elbert County’s top development official envisioned a resort that would bring vacationers’ dollars to the declining granite quarrying hub.

Possible extensions of jobless, health benefits eyed by administration for laid-off workers

WASHINGTON — The Obama administration is considering steps to ease the burdens of laid-off workers, including possible extensions of unemployment and health benefits, officials said Saturday.

Socialists favored to topple conservatives in Sunday election amid economic, security concerns

ATHENS, Greece — Greeks cast ballots Sunday in a snap general election likely to produce a change in government, as voters angered by scandals and a foundering economy were expected to reject the conservatives in favor of the opposition Socialists.

G-7 finance ministers warn of fragile recovery, vow to keep stimulus measures

ISTANBUL — Finance ministers from the Group of Seven rich countries warned the recovery remains “fragile” and tried to talk up the U.S. dollar amid fears it could fall farther and disrupt the global economy.

Rebound in taxes will take years, forcing states to make deeper cuts to jobs and services

The recession is probably over, which means states’ financial troubles have only begun.

Europe’s left flounders as conservatives co-opt the socialist agenda

VIENNA — Pity Europe’s Socialists. It’s getting lonely on the left.

Dior goes noir, Margiela challenges and Lanvin gives women what they want

PARIS — While the ever-challenging Maison Martin Margiela dared women to covet a dress made from leather Village People chaps or a jacket modeled off an airplane floatation device, Lanvin gave the ladies what they really want, delivering a sublime collection of asymmetrical cocktail dresses as Paris’ spring-summer 2010 ready-to-wear displays moved into day three on Friday.

Jobless rate heads for 10 percent; employers skeptical of recovery aren’t ready to hire

WASHINGTON — Job hunters will face long odds well into next year. As the unemployment rate inches closer to 10 percent, most businesses are nowhere close to hiring again.

Obama says 9.8 percent jobless rate a sobering reminder of hard task of reversing recession

WASHINGTON — President Barack Obama is calling the latest jobless figures a sobering reminder that progress to reverse the recession comes in fits and starts.

Oil prices fall as unemployment rate hits 26-year high, sowing doubt about economy’s rebound

Oil prices tumbled Friday as unemployment hit a 26-year high, sowing more doubts about the strength of the economic recovery and crude demand.

Factory orders drop unexpectedly in Aug., biggest decline in 5 months as aircraft demand falls

WASHINGTON — New orders to U.S. factories fell in August by the largest amount in five months, as American manufacturers struggle to emerge from the recession.

Stocks extend recent slide as September job losses rise more than expected

NEW YORK — Stocks are tumbling after the government said more jobs were lost in September than expected.

Stock futures set to lower open as employers shed more jobs than expected

The stock market headed for a sharply lower open Friday after the government said more jobs were lost in September than expected.

Unemployment rate rises to 9.8 percent in September, as employers cut 263,000 jobs

WASHINGTON — The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected.

World Bank’s Zoellick warns of funding constraints by middle of next year

ISTANBUL — World Bank president Robert Zoellick warned Friday that the international lender could find money running tight within a year if crisis-driven demands on its funding keep up at their record pace and the richer countries fail to stump up more cash.

Stock futures point to a lower open as investors await key unemployment data

Stocks headed toward a lower open Friday as investors await the government’s September jobs report.

Japan’s unemployment rate at 5.5 percent in August, down from record high

TOKYO — Japan’s jobless rate fell and household spending climbed in August — a double dose of good news for the world’s No. 2 economy though it may not last.

Slow recovery means unemployment rate to keep rising, possibly to 10 percent

WASHINGTON — The unemployment rate hasn’t topped 10 percent since June 1983, but it could return to that painful level soon — possibly as early as Friday, when the Labor Department issues its monthly jobs report.

Global recession has boosted jobless lines worldwide, but data shows marked differences

PARIS — Unemployment is rising around the world as the recession leaves few corners untouched — but sharp differences remain between companies directly hit by financial or housing-market collapses and those that have deliberately protected jobs with expensive measures — including subsidizing shorter working weeks.

CIT Group seeks to restructure in debt swap or through prepackaged plan in bankruptcy court

NEW YORK — Struggling CIT Group Inc. has launched a debt restructuring effort it hopes will trim at least $5.7 billion from its balance sheet, but also is asking bondholders to approve a prepackaged reorganization plan in case it is forced to file for Chapter 11 bankruptcy protection.

Summary Box: Jobs, manufacturing data show recovery off to bumpy start; modest rebound likely

CONSUMERS: Consumer spending surged 1.3 percent in August, due partly to the now-ended Cash for Clunkers program. But incomes posted a lackluster 0.2 percent gain, and the number of newly laid-off workers rose more than expected to 551,000 last week.

Economic recovery looks weak as data on jobs, incomes and manufacturing miss expectations

WASHINGTON — The economy is having growing pains.

AP sources confirm Comcast is in talks for up to a 51 percent stake in NBC Universal

PHILADELPHIA — Comcast Corp. might spend billions for a stake in NBC Universal, a deal that would transform the nation’s largest cable TV provider into one of the most prominent owners of TV shows, movies and other programming as well.

Senate Democrats from states that would miss out on extension of jobless benefits cry foul

WASHINGTON — A House-passed bill to give another 13 weeks of unemployment benefits to people from states where the jobless rate is at least 8.5 percent has bogged down in the Senate because of resistance from lawmakers whose states have lower unemployment and would be left out.

European Central Bank says eurozone economy stimulus should end in 2011 at the latest

GOTEBORG, Sweden — The head of the European Central Bank said Thursday that the 16 countries that use the euro should withdraw stimulus programs and start repaying mounting public debt by 2011 at the latest.

New jobless claims rise more than expected to 551,000; spending jumps in Aug. but incomes lag

WASHINGTON — First-time claims for jobless benefits increased more than expected last week, a sign employers are reluctant to hire and the job market remains weak.

New claims for unemployment benefits rise more than expected to 551,000, jobs remain scarce

WASHINGTON — First-time claims for jobless benefits increased more than expected last week, a sign employers are reluctant to hire and the job market remains weak.

Consumer spending surges by largest amount in nearly 8 years in August but incomes lag

WASHINGTON — Consumer spending, propelled by the wildly popular Cash for Clunkers auto sales program, shot up in August by the largest amount in nearly eight years even though personal incomes continued to lag.

Business confidence in Japan up for second quarter, though weakness persists

TOKYO — Japanese companies are feeling more confident about business for the second straight quarter. They just don’t want to build new factories or hire more workers yet.

IMF raises 2010 global growth forecast to 3.1 percent but warns that recovery will be slow

ISTANBUL — The International Monetary Fund said the global economy is recovering faster than expected — but that governments should not be hasty in withdrawing the added spending and low interest rates that have helped restore growth.