Exit polls indicate Norway’s left-leaning government wins re-electionOSLO — Norway’s left-leaning government appeared to have narrowly won re-election Monday after using oil money to shield the Nordic welfare state from the global recession, exit polls and partial results showed. AP Poll: Confidence in US stewardship of economy remains low a year after near meltdownWASHINGTON — One year after Wall Street teetered on the brink of collapse, seven out of 10 Americans lack confidence the federal government has taken safeguards to prevent another financial industry meltdown, according to a new Associated Press-GfK poll. 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. 70% Americans think Economy has not improved at all
China that’s not from China: Fiesta dinnerware keeps W.Va. factory in business and in the USNEWELL, W.Va. — Born of the Great Depression, it was a glossy, color-saturated line of cups, bowls and plates meant to affordably brighten lives and dinner tables. Seven decades later, Fiesta dinnerware is still designed to send a subtle message of optimism, but it’s no longer quite so cheap. Arizona to sell prisons, other properties in leaseback deals for cash to help balance budgetPHOENIX — Faced with a state budget crisis that won’t quit, Arizona lawmakers are offering to sell legislative buildings, prisons and other facilities that the state would then lease back, effectively taking out a mortgage on paid-for state property. Nobel Prize-winning scientist Norman Borlaug, father of the ‘green revolution,’ dies at age 95DALLAS — Agricultural scientist Norman Borlaug, the father of the “green revolution” who won the Nobel Peace Prize for his role in combating world hunger and saving hundreds of millions of lives, died Saturday in Texas, a Texas A&M University spokeswoman said. He was 95. Number of flights will fall with autumn leaves as carriers see fewer passenger bookingsDALLAS — The U.S. airline industry is shrinking to a size not seen since the months after the 2001 terror attacks. 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. AP Interview: IOC president ‘optimistic’ Vancouver will avoid budget shortfallLONDON — International Olympic Committee president Jacques Rogge is confident the 2010 Winter Games in Vancouver will break even despite a budget shortfall. Wholesale inventories drop in July for record 11th straight month; sales up most in 13 monthsWASHINGTON — 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. China’s industrial output, investment, retail sales higher, as stimulus spending fuels demandSHANGHAI — China’s recovery gained momentum in August as stimulus spending helped boost industrial output, investment and retail sales in the world’s third-largest economy, offsetting a slump in exports. Amid recession, Harvard University’s endowment falls to $26 billion, down more than 27 percentBOSTON — The total value of Harvard’s endowment plunged nearly 30 percent in the last fiscal year as the Ivy League institution’s portfolio was battered by the worldwide recession, the university’s management company said. White House cautiously optimistic in first stimulus report, says 1 million jobs saved, createdWASHINGTON — White House economists said Thursday that the Obama administration’s recovery efforts have saved or created more than 1 million jobs, an estimate that underscored a cautiously optimistic forecast about the direction of the economy. 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. Chinese government to help finish building Revel’s Atlantic City casinoATLANTIC CITY, N.J. — Revel Entertainment has turned to the Chinese government for help finishing the lavish casino it is building on Atlantic City’s Boardwalk. Number of uninsured rise to 46.3 million; poverty rate hits 13.2 percent, an 11-year highWASHINGTON — The number of Americans without health insurance rose to 46.3 million last year as people began losing jobs and coverage in the current recession. The poverty rate hit 13.2 percent, an 11-year high. Obama laments statistics showing millions have lost health coverage since recession startedWASHINGTON — Trumpeting nurses’ support for a health care overhaul while lamenting a worsening toll of uninsured, President Barack Obama kept up the pressure Thursday for congressional action. 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. Number of uninsured rises to 46.3 million; poverty rate hits 13.2 percent, an 11-year highWASHINGTON — The number of Americans without health insurance rose to 46.3 million last year as people began losing jobs and coverage in the current recession. The poverty rate hit 13.2 percent, an 11-year high. European stocks drop before Wall Street open as boost from US recovery hopes fadesLONDON — European stocks lost earlier gains ahead of expected losses on Wall Street on Thursday as enthusiasm over an upbeat Federal Reserve survey, which helped Asian markets rise, faded amid concerns that stocks are overvalued. 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. Bank of England holds rates steady at 0.5 percent, maintains monetary easing programLONDON — The Bank of England held interest rates steady at a record low of 0.5 percent for the sixth consecutive month on Thursday and pledged to continue its program to boost the money supply despite gathering signs of an economic recovery. Growth industry: Recession blamed as marijuana farming increases from California to AppalachiaBARBOURVILLE, Ky. — Machete-wielding police officers have hacked their way through billions of dollars worth of marijuana in the country’s top pot-growing states to stave off a bumper crop sprouting in the tough economy. Bank of England expected to hold rates steady, maintain quantitative easing programLONDON — The Bank of England is expected to hold interest rates at record lows and continue with its program to boost the money supply on Thursday despite growing signs of an economic recovery. 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. Hooker posts loss as sales fall 29 percent, company says it sees signs of economic recoveryMARTINSVILLE, Va. — Hooker Furniture said it took a loss in the fiscal second quarter as the recession cut into its sales. Meltdown 101: What do year-over-year figures mean when a financial meltdown hit 12 months ago?Year-over-year figures are the bread-and-butter measurement of economic activity. When analysts want to know just how well a company or industry is performing, they compare current results to ones from a year earlier to see the big picture. |
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WASHINGTON — One year after Wall Street teetered on the brink of collapse, seven out of 10 Americans lack confidence the federal government has taken safeguards to prevent another financial industry meltdown, according to a new Associated Press-GfK poll.
