Economic news
Stock indexes close higher on hopes for Fed
Stocks are closing higher on Wall Street as investors bank on continued support from the Federal Reserve. The Dow Jones industrial average rose 52 points to close at 15,387 Tuesday, an increase of 0.3 percent. The Standard & Poor's 500 index rose three points to 1,669, or 0.2 percent. The ...
Does France have right plan to revive its economy?
The man charged with reviving France's shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite. As the country's first-ever minister for industrial renewal, Arnaud Montebourg has told the world's largest steelmaker it is not welcome in France; exchanged angry letters with the head ...
Senate debating federal dollars for crop insurance
The farm bill the Senate is considering this week would cut some farm subsidies but also expand government-subsidized crop insurance, a safety net used by many farmers in case of bad weather or lost revenue. The program has risen in popularity in recent years, especially in the Midwest, and helped ...
Stock indexes head higher in afternoon trading
The stock market turned higher Tuesday as investors banked on continued policy support from the Federal Reserve. Two big retailers also topped Wall Street expectations for the most recent quarter. The Dow Jones industrial average rose 64 points to 15,399 shortly after 1 p.m. Eastern time, though trading volume was ...
3 Oregon timber counties seek tax hikes
Three Oregon timber counties are asking voters to raise taxes to restore deep cuts to law enforcement forced by the expiration of a longstanding federal subsidy. The votes tallied Tuesday evening will determine if Lane, Josephine and Curry counties will continue to live with the consequences of the cuts: few ...
Markets choppy ahead of Bernanke testimony
Markets were choppy Tuesday as investors remained cautious in the run-up to a much-anticipated statement from U.S. Federal Reserve chairman Ben Bernanke. The Fed is conducting its third round of massive bond purchases known as quantitative easing. The aim has been to help drive down interest rates and spur lending. ...
New Egypt tax law: cuts for poor, business hikes
Egypt's president has signed a new tax law that cuts the amount paid by poorer Egyptians while increasing taxes on small and medium-sized businesses. The interim parliament approved the law last week. President Mohammed Morsi signed it Tuesday, his office said. The measure is among many economic reforms the government ...
How the French economy compares to Germany's, UK's
Here's how the struggling French economy stacks up compared to Germany's and Britain's: How Europe's Top Economies Compare France Germany Britain Gross Domestic Product (2012) 2 trillion euros ($2.7 trillion) 2.6 trillion euros ($3.3 trillion) 1.9 trillion euros ($2.4 trillion) Manufacturing as a percentageof GDP (2009) 10.7 percent 19.3 percent ...
German central bank: Economy to improve 'markedly'
Germany's central bank expects the country's economy to improve "markedly" in the second quarter — a development that could boost the wider eurozone as it struggles to get out of recession. The Bundesbank said Tuesday that Europe's largest economy should expand more robustly after a weak first three months of ...
Oil price down to near $96 as traders wait for Fed
The price of oil fell to near $96 per barrel Tuesday as investors waited for the Federal Reserve's latest views on the U.S. economy. By early afternoon in Europe, benchmark crude for June delivery was down 60 cents to $96.11 a barrel in electronic trading on the New York Mercantile ...
Expert: Summer gas costs likely lower than 2012
A Purdue University economist says he expects this summer's gasoline prices to be lower than last year. Energy economics specialist Wally Tyner projects that prices in the Midwest will be between $3.50 and $3.90 a gallon, with prices in the South and Southeast between $3.15 and $3.55. He doesn't expect ...
Average credit card debt, late payments fall in 1Q
Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt. The rate of credit card payments at least 90 days overdue fell to 0.69 percent in ...
China's Li seeks stronger economic ties with India
Chinese Premier Li Keqiang told Indian business leaders Tuesday that developing stronger economic ties between their two nations would have huge benefits for both sides. Li spoke a day after holding meetings with Indian Prime Minister Manmohan Singh during which the two leaders played down a recent border dispute and ...
British inflation eases by more than expected
Official figures show that consumer price inflation in Britain eased in April, largely on the back of lower fuel prices and airfares. The Office for National Statistics said Tuesday that the annual rate fell to 2.4 percent in April from 2.8 percent the previous month. The fall was bigger than ...
Asia stocks muted ahead of Fed meeting
Asian stock markets struggled to post gains Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program. The Fed is currently conducting the third round of massive bond purchases known as quantitative easing to help drive down interest ...
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