Business News

Wary consumers, rising unemployment snag recovery

In this Wednesday, Nov. 4, 2009, photo, Michael Rader, of Ashland, Pa., looks over small electronics at Best Buy in Mechanicsburg, Pa. Americans' confidence in the economy improved slightly in November, but they remain gloomy amid a weak job market heading into the holiday season.(AP Photo Carolyn Kaster)
Enlarge Photo
AP
AP - 1 hour, 29 minutes ago

WASHINGTON - The economy is not growing as fast as the government first thought and the recovery still faces significant obstacles, including households nervous about spending and rising unemployment.

Economy News

  • In this Wednesday, Nov. 4, 2009, photo, Michael Rader, of Ashland, Pa., looks over small electronics at Best Buy in Mechanicsburg, Pa. Americans' confidence in the economy improved slightly in November, but they remain gloomy amid a weak job market heading into the holiday season.(AP Photo Carolyn Kaster)
    Wary consumers, rising unemployment snag recovery AP - 1 hour, 29 minutes ago

    WASHINGTON - The economy is not growing as fast as the government first thought and the recovery still faces significant obstacles, including households nervous about spending and rising unemployment.

  • FILE - In this Sept. 19, 2007 file photo, an oil pump is seen at dusk in Sakhir, Bahrain. Oil prices fell below $76 a barrel Tuesday, Nov. 24, 2009, with new data showing a slow U.S. economic recovery and consumer confidence that remains lukewarm at best. (AP Photo/Hasan Jamali, File)
    Oil hovers near $76 amid weak US crude demand AP - 2 hours, 15 minutes ago

    SINGAPORE - Oil prices hovered near $76 a barrel Wednesday in Asia as investors mulled whether signs of a sluggish U.S. economy and weak crude demand justified a further sell-off this week.

  • Thanksgiving traveler Natalie Richards, 4, arrives with her luggage at San Francisco International Airport in San Francisco from her home in Los Angeles, Tuesday, Nov. 24, 2009. (AP Photo/Paul Sakuma)
    Americans searching for cheaper Thanksgiving trips AP - 1 hour, 1 minute ago

    CHICAGO - The Miles family is changing it up this year in the annual American race to make it to the table for Thanksgiving dinner. Instead of booking plane tickets, they opted to take the 1,100-mile trip by train.

Stock Markets News

  • A market vendor, wearing a face mask, stands in front of a large pile of sacks containing garlic at an outdoor food market in Beijing November 25, 2009. REUTERS/David Gray
    Hold your nose: garlic is best investment in China Reuters - 32 minutes ago

    BEIJING (Reuters) - The price of garlic in China has nearly quadrupled since March, propelled by its very pungency to rank ahead of gold and stocks as the country's best-performing asset this year.

  • Traders work on the floor of the New York Stock Exchange November 9, 2009. REUTERS/Brendan McDermid
    Asian stocks mixed on concern about US recovery AP - 2 hours, 18 minutes ago

    BEIJING - Asian stocks were mixed Wednesday after more evidence that recovery in the world's biggest economy is set to be slow and bumpy.

  • In this Monday, Nov. 23, 2009 photo, Specialist William Brazer works at his post on the floor of the New York Stock Exchange. Slow consumer spending, weakness in commercial construction and the nation's trade gap all likely contributed to the lower growth expectation on Tuesday.(AP Photo/Richard Drew)
    Asia shares gain, gold hits record high Reuters - 1 hour, 41 minutes ago

    HONG KONG/SEOUL (Reuters) - Asian stocks rose on Wednesday after the Federal Reserve raised U.S. growth forecasts for 2010, while gold struck a record high on a weaker dollar and a media report India was "open to buying" more of the precious metal.

Earnings News

  • FILE - In this May 18, 2009 file photo, a customer reads magazines inside the Barnes and Noble store in Tallahassee, Fla. Barnes & Noble said Tuesday, Nov. 24, 2009, it posted a wider loss in the second quarter because of costs for an acquisition.(AP Photo/Phil Coale, File)
    Top 2 booksellers report losses, their shares fall AP - Tue Nov 24, 8:28 PM ET

    NEW YORK - Barnes & Noble Inc. and Borders Group Inc., the nation's two largest brick-and-mortar book sellers, both posted quarterly losses Tuesday and forecast a difficult holiday season, saying competition from discount chains and online retailers is stiffening.

  • Blue Coat posts profit as sales rise slightly AP - Tue Nov 24, 7:51 PM ET

    SUNNYVALE, Calif. - Blue Coat Systems Inc. on Tuesday reported a fiscal second-quarter profit, reversing a year-ago loss, as sales of its security hardware and software products rose slightly and costs declined.

  • China's 3G Conversion Boosts Telecom Software Firm's Earnings Investor's Business Daily - Tue Nov 24, 6:30 PM ET

    U.S. telecom firms have hit a ceiling as most Americans have a cell phone and Internet access. These firms can only dream of untapped potential in China, the world's largest mobile market.

Industries

  • The new Saab 95 is pictured at the Frankfurt International Auto Show IAA in Frankfurt September 15, 2009. REUTERS/Johannes Eisele
    GM's Saab sale collapses as buyer backs out Reuters - 2 hours, 35 minutes ago

    DETROIT (Reuters) - A deal for General Motors Co to sell Saab collapsed on Tuesday when the buyer pulled out, in a move that threatens a 60-year-old Swedish auto brand with closure after mounting losses.

  • GM returns $140M provided for parts suppliers AP - Tue Nov 24, 7:15 PM ET

    WASHINGTON - General Motors has returned $140 million of the $290 million it received from the government to support is parts suppliers.

  • The risks of taking anti-inflammatory drug Vioxx could have been detected nearly four years before the drug was pulled from the market, according to analysis of nearly 30 clinical trials.(AFP/Getty Images/File)
    Trials showed Vioxx risk years before withdrawal: study AFP - Tue Nov 24, 8:50 AM ET

    WASHINGTON (AFP) - The risks of taking anti-inflammatory drug Vioxx could have been detected nearly four years before the drug was pulled from the market, according to analysis of nearly 30 clinical trials.

Opinion

Most Popular Business News

  • People pass by the Mistral French amphibious assault ship docked on the Neva River in downtown St. Petersburg, Russia, Tuesday, Nov. 24, 2009. A cutting-edge French warship sailed into St. Petersburg Monday to show off its capabilities to potential buyers in the Russian navy, whose pursuit of an amphibious assault capacity is frightening some neighboring countries. (AP Photo/Dmitry Lovetsky)
    France shows off cutting-edge navy ship in Russia AP - Tue Nov 24, 2:38 PM ET

    ST. PETERSBURG, Russia - French officers on Tuesday showed off a cutting-edge warship to a potential buyer — the Russian navy, whose pursuit of an amphibious assault capacity is frightening some neighboring countries.

  • This undated handout photo provided by the Consumer Product Safety Commission, shows a drop-side crib by Stork Craft Manufacturing of Canada. More than 2.1 million drop-side cribs by Stork Craft Manufacturing of Canada are being recalled following reports of four infant suffocations. The CPSC said the recall involves 1.2 million cribs in the United States and almost 1 million in Canada, where Stork Craft is based. (AP Photo/Consumer Product Safety Commission)
    CPSC chief pledges swift action after crib recall AP - Tue Nov 24, 9:30 PM ET

    WASHINGTON - The head of the Consumer Product Safety Commission on Tuesday promised swift action to get dangerous products off the market, acknowledging that the agency didn't move quickly enough on a record recall of more than 2 million cribs linked to four deaths.

  • FILE - In this Feb 23, 2009 file photo, the logos of Saab and General Motors, GM, are seen in front of a car dealer in Stuttgart, Germany. General Motors Co. said Tuesday, Nov. 24, 2009, a Swedish specialty car maker has ended plans to buy GM's Saab brand.(AP Photo/Thomas Kienzle, file)
    Saab likely to close as GM fails to sell car brand AP - Tue Nov 24, 5:13 PM ET

    DETROIT - A deal for General Motors Co. to sell Saab to a specialty carmaker has collapsed, leaving the storied Swedish brand born from jets in 1947 close to extinction.