US economy – News Stories About US economy - Page 29

Dec 12, 2007 6:11 PM CST

Morgan Stanley Warns of Recession

Housing slump, cost of borrowing could lead to 'perfect storm' in US economy

(Newser) - Morgan Stanley is warning that the US is headed to a recession, the Telegraph writes, indicating today that factors such as the continued housing slump and high cost of borrowing will lead to decreased demand and a “perfect storm” for consumers. A partial freeze on subprime mortgages and expected...

US Economic Woes to Slow Tech Spending

Dec 11, 2007 11:38 AM CST

US Economic Woes to Slow Tech Spending

Researchers say the sector will continue to grow, but belts will be tightening

(Newser) - Tech-spending growth, on a roll since recovering from the 2000 dot-com bust beginning in 2004, is likely to slow next year, dragged down by US economic woes and rising oil prices, reports the Wall Street Journal. Research firms say companies are likely to keep spending, but more slowly. As one...

Economists
See Rising Risk
of Recession

Dec 11, 2007 6:59 AM CST

Economists See Rising Risk of Recession

Nearly all in survey say Fed must take strong action, cut rates

(Newser) - Economists are painting a bleak picture of the US economy next year, with the housing mess, reduced job growth, and rising unemployment putting the likelihood of recession at its highest level in three years, the Wall Street Journal reports. Nearly all the economists surveyed by the paper said the Fed...

Dems Pitch Own Mortgage Plans

Dec 6, 2007 2:56 AM CST

Dems Pitch Own Mortgage Plans

They say Bush's freeze falls short

(Newser) - Democratic candidates are criticizing President Bush's plan to bail out homeowners in the subprime mess for not going far enough and have outlined their own, more ambitious, proposals, the New York Times reports. "It appears that the president is pushing a freeze for a very narrow group of borrowers,...

Americans Glummer on Economy

Dec 5, 2007 2:14 PM CST

Americans Glummer on Economy

71% expect recession; oil, mortgages are concerns, survey finds

(Newser) - More than half of Americans think the economy is performing poorly, and 71% predict a recession within the year, a new Bloomberg/Los Angeles Times poll shows. Energy prices in particular are contributing to the grim outlook and cautious spending, Bloomberg reports. "I probably will spend less this year because...

Airbus, VW
May Open
US Plants

Dec 4, 2007 4:00 PM CST

Airbus, VW May Open US Plants

Weak dollar has European companies looking overseas

(Newser) - The dollar’s continued weakness against the euro has European companies such as Airbus and VW looking to move production to the US, reports Der Spiegel. “We don’t have a choice,” said the CEO of Aribus parent company EADS. If Airbus wins a contract to supply the...

In '08, It's Really the Economy, Stupid

Dec 4, 2007 12:45 PM CST

In '08, It's Really the Economy, Stupid

Worried over job, credit, health woes, voters put Iraq on back burner

(Newser) - With gas prices stratospheric, the housing market tanking, and recession looking likely, voters aren't too worried about Iraq, reports the Wall Street Journal. Job concerns have transformed illegal immigration and health care into major issues. “You have to have a health plan even in the Republican primary,” says...

Hey, GOP:
US Is Outraged Over Illegals

OPINION

Dec 3, 2007 4:40 PM CST

Hey, GOP: US Is Outraged Over Illegals

Moderates like McCain and Huckabee risk defeat, Time says

(Newser) - GOP hopefuls risk defeat if they underestimate US rage over illegals, Time's Joe Klein writes. Mitt Romney and Rudy Giuliani have successfully stoked public anger; Romney, who reportedly hired undocumented workers to tend his lawn, blasts illegals in his latest campaign ads. But Mike Huckabee takes a middle ground and...

Switching States Is
On the Rise

Nov 30, 2007 10:25 PM CST

Switching States Is On the Rise

Immigrants, people in their 20s take the lead in mobility

(Newser) - Americans are moving from state to state at the highest rate since the early '90s, reports USA Today. The trend stems from immigrants spreading out from the traditional gateway states in search of jobs and lower living costs, as well as a larger number of mobile twenty-somethings. In a 2006...

The 'R-Word' Surfaces on Wall Street

Nov 27, 2007 12:38 PM CST

The 'R-Word' Surfaces on Wall Street

'Odds of a recession are pretty damn high,' says analyst

(Newser) - Wall Street has the recession jitters: Markets are down 10% since October, the S&P 500 is down as analysts predict depressed earnings, and T-bills are down on anticipated Fed rate cuts. But there’s a flip side: Holiday sales gained 8.3% over 2006, unemployment is at 4.7%,...

Even Fat
Wallets Closing

Nov 25, 2007 12:34 PM CST

Even Fat Wallets Closing

Nation's wealthiest aren't spending, signaling steep economic trouble

(Newser) - Wealthy consumers, the 20% of the population responsible for nearly 40% of consumer spending, are closing their wallets, indicating an even rougher economic road ahead, reports Bloomberg. “When they begin to capitulate, that’s when we all head down,” said one economist. Blame deflating real estate prices and...

Subprime Nightmare to Get Worse

Nov 24, 2007 2:28 PM CST

Subprime Nightmare to Get Worse

With rates about to reset higher, expect more foreclosures

(Newser) - The subprime mortgage crisis is only just beginning, new data suggests. Hundreds of billions of dollars in subprime adjustable-rate mortgages are due to reset to higher rates in the year ahead, reports the Wall Street Journal. Analysts say this means the steep rise in defaults and foreclosures this year may...

Black Friday as Bargain Hunt

Nov 24, 2007 7:17 AM CST

Black Friday as Bargain Hunt

Thrifty shoppers crowd malls nationwide

(Newser) - On the traditional first day of the Christmas season, shoppers swarmed stores, as always, but the mood was less festive than anxious, reports the New York Times, as consumers flocked to discount chains, and hunted down bargains. Beset by worries about gas prices, adjustable-rate mortgages, and a skittish stock market,...

Greenspan Has
'No Particular Regrets'

Nov 23, 2007 5:41 PM CST

Greenspan Has 'No Particular Regrets'

Former FED chair calls housing crisis 'a global phenomenon'

(Newser) - The US housing market crisis is not the result of Federal Reserve policies but part of a global phenomenon, former Fed chair Alan Greenspan says. "I have no particular regrets," he said yesterday in Oslo. "The housing bubble is not a reflection of what we did, as...

Black Friday Getting Longer

Nov 22, 2007 8:08 PM CST

Black Friday Getting Longer

Stores open earlier to boost profits, attract headlines

(Newser) - Stores will open earlier than ever on Black Friday, with midnight openings becoming more common, the AP reports. Wal-Mart, in fact, began its sales today. "You sell two sweaters and you've broken even,” said one analyst. But Gap chief Glenn Murphy will be out with the hordes, then...

Fed's 3-Year Outlook Is Gloomy

Nov 21, 2007 12:23 PM CST

Fed's 3-Year Outlook Is Gloomy

US economy will grow more slowly than expected

(Newser) - In a word: Grim. That’s the crux of the Federal Reserve’s economic outlook for the next three years, with 1.8% to 2.5% growth forecast for 2008 and a slow gathering of momentum in 2009 and 2010, the Financial Times reports. And key factors from credit surprises...

Subprime Woes Hit New York Law Firms

Nov 21, 2007 10:52 AM CST

Subprime Woes Hit New York Law Firms

For the first time since 2001, lawyers are being let go

(Newser) - The continuing mortgage crisis and tightening credit markets are claiming a new batch of victims: Lawyers. Layoffs at Clifford Chance, the world's highest-grossing law firm, have started, Bloomberg reports, and up to 5% of salaried associated at New York law firms may get the ax as work on mergers, acquisitions...

Goldman Sees $2T Credit Shortfall, Major Slowdown

Nov 16, 2007 10:44 AM CST

Goldman Sees $2T Credit Shortfall, Major Slowdown

Nobel winner, investment firm warn of growing risk

(Newser) - The subprime mortgage crisis that has cost financial companies $400 billion and triggered what one banker is calling the worst housing market since the Great Depression will force a $2 trillion credit squeeze that could set off a “substantial recession” in the US, reports Bloomberg. Goldman Sachs said the...

Starbucks Reports First
Dip in Customers

Nov 15, 2007 9:51 PM CST

Starbucks Reports First Dip in Customers

Customer traffic down at coffee-shop giant's US stores for the first time

(Newser) - Starbucks reported its first-ever decline in US customer visits today, reports Bloomberg. The coffee juggernaut lowered its profit and sales forecast, and shares of its stock fell 8.3%. The profit revision suggests that Starbucks is losing customers to McDonald's and Dunkin' Donuts, where a cup of coffee may cost...

Asian Stocks Plunge on
US Slowdown Worries

Nov 12, 2007 7:02 AM CST

Asian Stocks Plunge on US Slowdown Worries

(Newser) - Renewed anxiety over the US sub-prime crisis and Friday's Wall Street slump ignited a stock dump in Asian markets today, hammering the Japanese Topix index to a two-year low and sending the dollar’s value against the yen to its lowest point in 18 months. Hong Kong’s Hang Sang...