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US Budget Surplus Breaks Record in June
The US government got budget surplus in June, which is the latest indicator of improving finances that could decrease the urgency in Congress to reach a compromise regarding increasing the borrowing limit of the nation. The government... More of this article »
US Retailers Agree to a Factory Safety Pact in Bangladesh
17 retailers and clothing makers from the United States have agreed to a five year pact with the goal of improving conditions at Bangladesh apparel plants. Some of the companies include Target, Walmart, and Gap. The companies agreed... More of this article »
Global Economic Growth Slower than Anticipated
According to the International Monetary Fund report released Tuesday, global economic growth will be slower than expected in 2013 and the next year due to the weaker consumer demand in emerging markets as well as the recession in the... More of this article »
Crude Options Volatility Remains near Highest Level
Crude options volatility remained near its highest level, which it reached last April. Futures closed at a 14 month high. These were attributed to the strong job gains in the US and the unrest in Egypt. Implied volatility for at-the-money... More of this article »
Morningstar Reports Credit Card Data Leak
Morningstar said that personal data, such as credit card details, of around 2,300 users of the company’s Morningstar Document Research service have been compromised because of a security breach last year. The company said that the... More of this article »
Gold Drops as Dollar Rises due to Jobs Report
Gold futures dropped to a week low as the dollar increased to its highest level in three years after the release of the jobs report that showed US payrolls went up more than the estimates in June. This fueled speculations that the... More of this article »
Bond Withdrawals Could Lead to Opportunities
Investors have a lot to be concerned about the bond market. Yields are increasing and prices have dropped. Investors are withdrawing their money out of bond funds at an alarming rate. There are questions where the money will go to... More of this article »
Oil Price Increase to Impact Stocks and Economy
The price of crude oil reached its highest level in over a year. It traded above $1.2 per barrel due to the problems in Egypt as President Mohammed Morsi pledged not to resign despite the demands of millions of protestors. Stock market... More of this article »
Investors Withdraw $9.6 Billion from Pimco Fund
Investors pulled $9.6 billion from Pimco’s flagship Total Return bond fund in June. This was a sign how increasing interest rates have made bonds unattractive to investors. The amount was the largest monthly outflow since Morningstar... More of this article »
US Manufacturing Goes Up as Orders Increase
Manufacturing in the United States went up in June as orders increased. Factory reports from Japan to the United Kingdom indicated stabilization in the global economy. According to the Institute for Supply Management, US manufacturing... More of this article »
Top Travel Apps for Small Businesses
Travel is vital for most small businesses to achieve success. Travelling can be troublesome without the right knowledge and tools. Now you can get all these via your smartphone. Below are some of the recommended small business travel... More of this article »
Noodles & Co Doubles its Shares in IPO
Restaurant chain Noodles & Co saw its shares double during their initial public offering. The chain known for its casual atmosphere and fast service has a value of over $1.07 billion. Its shares closed at $35.20, with was an increase... More of this article »
Gold and Silver Recover as Energy Falls
Gold and silver prices closed a bit higher Friday at the end of a rough week for the market. This marked the first gain for gold after four losses in a row. Investors have been dumping gold since last week after the Federal Reserve... More of this article »
Jobless Benefits Applications Drop 9,000 Last Week
Less Americans filed for unemployment claims last week. This was a sign that employers are slowing their rate of firings as the economy’s outlook becomes brighter. Jobless claims declined 9,000 to 346,000 in the week that ended June... More of this article »
Treasury Yields Close Higher due to Weaker Data
US Treasury prices closed higher Wednesday that was attributed to weaker than estimated economic data. There was little demand for the US Treasury five year notes that showed investors were worried with regards to the date the Federal... More of this article »
Increasing Sales Lead to Brighter Outlook in Housing Market
The latest government reports showed that sales of new homes went up last month to the highest level in five years. There is still a lot of uncertainty in the home construction industry but the sales report rekindled builders’ optimism.... More of this article »
Major Law Firm Weil to Lay Off Lawyers and Support Staff
Weil Gotshal & Manges, which is one of the world’s most prominent law companies, announced that it would lay off 60 associate lawyers and 110 support staff. This was an indicator that the law industry continued to suffer from... More of this article »
Bond Yields on Track for Biggest Weekly Gain in a Decade
US equities stabilized in a volatile trading session Friday as Treasury yields were on track to get their largest weekly increase in 10 years. Investors reconsidered their positions as the Federal Reserve prepares to discontinue its... More of this article »
US Stocks Falls for the Week
US stocks dropped for the week that sent indexes to their worst levels since April. This was after Federal Reserve Chairman Ben S. Bernanke said he could discontinue the monetary stimulus. All ten industries in the Standard & Poor’s... More of this article »
NSA Controversy Bad for US Tech Companies
Most Americans are now worried about their privacy after the disclosure of the secret National Security Agency surveillance programs. In an effort to relieve the concerns, a senior administration official said that President Barack... More of this article »
Georgia’s Jobless Rate and Hiring Up in May
The unemployment rate in the State of Georgia increased in May to 8.3 percent but labor officials said that job growth also gained during the month. The seasonally adjusted jobless rate is up one-tenth of a percent from 8.2 percent... More of this article »
US Companies Want to Save Corporate Tax Loopholes
Corporate America managed to lobby for loopholes in the tax code that benefits the companies. They are also working doubly hard to keep them as is. US companies have been showering Washington with money in an effort to thwart away... More of this article »
Taxpayers Pay Millions for Fed Workers Student Loan Relief
Federal workers have their student loans subsidized by the government. This was designed to make jobs in the government more attractive to those who might earn more in the private sector. The perk is now up for the chopping block. It... More of this article »
Supreme Court Allows Regulators to Challenge Generic Drug Agreements
The Supreme Court ruled that antitrust regulators could challenge the agreements that allow rival drug makers to postpone the sale of a generic drug. The arrangements, known as reverse payment or pay for delay, allow brand name drug... More of this article »
Central Banks Struggle to Communicate, Leads to Bond Yields Gains
It looks like central banks across the globe fail to give out the goals of their monetary policy as they face competing views. Chairman Ben S Bernanke tries his best to spell out when the Federal Reserve will pull back on its asset... More of this article »
Bidding for Back Bay Parking Spaces Reaches $560,000
The piece of land is just big enough to fit two cars. It has weeds in its borders and a utility pole. But the auction for it has attracted a crowd. It is because the piece of land is a pair of tandem parking spaces in Back Bay, which... More of this article »
Concerns about Origins of Genetically Modified Wheat Affect US White Wheat
Unapproved genetically engineered wheat was discovered in Oregon. Concerns about the discovery have been pressuring the US white wheat market for more than two weeks. Major buyer Japan extended the ban on wheat from the Pacific Northwest... More of this article »
Unemployment Claims Drop to 334,000 Last Week
There were less Americans who applied for unemployment benefits last week than the estimate. This showed that companies fired fewer workers as growth cooled in the quarter. Jobless claims declined 12,000 to 334,000 in the week that... More of this article »
Share of Homeowners with Negative Equity Drop 20%
The share of borrowers who owe more than the worth of their homes dropped to less than 20 percent in the first three months of the year. At the same period, prices went up in hard hit markets. This was according to data from CoreLogic... More of this article »
Banks Earn Big on Overdraft Fees
The majority of banks earns large profits in overdraft fees by allowing customers to overdraw their checking accounts. This was according to a recent report released by the Consumer Financial Protection Bureau. Consumer groups want... More of this article »
Navistar Announces Losses Larger than Estimates in 2nd Quarter
Navistar International Corp. said its losses in the second quarter was larger than the estimates as the company absorbed higher warranty costs and lost sales as it shifted into a new engine technology. Jack Allen, chief operating officer... More of this article »
More Companies Allow Workers to Buy and Sell Vacation Time
A new survey showed that more companies are looking at their employee’s vacation time differently. The poll made by the Society for Human Resource Management indicated more employers changed the way they see their workers’ vacations.... More of this article »
PRISM Beneficial for US Tech Companies
US-based Internet services have a lot of users from outside the country. Google’s e-mail service, Gmail, has its servers in the company’s headquarters in California. Its business is international with less than 30 percent of the... More of this article »
US Bonds Fall due to Speculations on Fed Stimulus
US Treasury debt prices dropped Friday as investors renewed their bets that the Federal Reserve would reduce its stimulus program later this year after data indicated solid employment growth. The yield on the benchmark 10 year note... More of this article »
Jobs Market to Continue Slow Growth
The federal budget cuts might have affected how the government added new jobs but the private sector continued to create new ones at a slow but steady pace. Small businesses have experienced obstacles in their way and yet they are... More of this article »
US to Sell More GM Shares after Automaker Returns to S&P
The US Treasury Department said it was planning to sell more shares of General Motors Co. common stock before the car company goes back to the Standard & Poor’s 500 Index after its four years of absence. The US government announced... More of this article »
Amazon Expands Business with Online Grocery
Amazon.com is said to be planning to come out with an online grocery that it has been developing for several years. The company has set its sights on the biggest retail sector that has yet to be taken over by e-commerce. Food is a... More of this article »
US Manufacturing Index Drops to Lowest Level since June 2009
According to the Institute for Supply Management, the index of manufacturing activity declined in May to its lowest level since June 2009. This is caused by the weak economies overseas and a pullback in business spending that led to... More of this article »
San Diego Tourism Agency Closes Down
The tourism agency of San Diego announced that it will close down Monday because the city hasn’t released the money it needs to pay its workers. Mayor Bob Filner said that he is withholding millions of dollars in tourism marketing... More of this article »
Obama Extends Making Home Affordable Program
The US Treasury Secretary Jack Lew announced that President Barack Obama’s Making Home Affordable Program would be extended until December 31, 2015. This would keep it align with deadlines of other federal housing programs and initiatives. The... More of this article »
House Passes Student Loan Bill
The House passed a measure Thursday that would prevent the doubling of student loan interest on July 1. The legislation would keep the rates at prevailing market trends and end federal subsidies. It was voted along party lines, 221... More of this article »
Economic Growth in First Quarter Moderate
According to the Commerce Department, the economy grew at a modest annual rate of 2.4 percent in the first quarter of 2013. It was slightly slower than the estimate. Consumer spending was stronger than the estimates made by economists... More of this article »
Fairholme Takes a 500 Million Stake in Freddie and Fannie
Fund manager Bruce Berkowitz’s Fairholme Capital Management invested on Freddie Mac and Frannie Mae preferred shares. The mutual fund company took around $500 million stake in the preferred shares of the mortgage firms that have... More of this article »
Oil Price Increases to $95 per Barrel
Oil price increased to $95 per barrel Tuesday due to the gains on stock markets across the globe. Benchmark oil for July delivery went up 86 cents to close at $95.01 per barrel. It was the first increase for oil in five trading sessions. Oil... More of this article »
US Housing Market to Continue Growth
Analysts from the National Association of Realtors and investors are confident about the future of the housing market in the United States. They based their forecasts on current economic and employment data. Stocks of home improvement... More of this article »
Jobless Benefits Drop Last Week
The number of Americans who applied for jobless benefits dropped 23,000 last week to a seasonally adjusted 340,000. The number was consistent with the solid job growth. The four week average, which is said to be a less volatile measure,... More of this article »
US Against the $20 Million Severance Package to AMR CEO
The Justice Department publicly announced its opposition to American Airlines’ plan to pay $20 million in severance to Chief Executive Tom Horton as part of the carrier’s merger with US Airways Group Inc. The US trustee’s office,... More of this article »
Unemployment Claims Drop as Consumer Comfort Increases
There were fewer Americans who applied for jobless benefits last week. At the same time, consumer confidence neared a five year high as the largest part of the economy benefited from improving housing and job markets. Unemployment... More of this article »