Economy - Most Commented

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Commerce Department releases GDP numbers

Jul 27, 2012
The Commerce Department just announced Gross Domestic Product ticked up 1.5 percent in the second quarter -- that down from a growth rate of 2 percent in the first part of the year.
Posted In: GDP

California Gov. Jerry Brown advocates for high-speed rail

Jul 27, 2012
The governor of the cash-strapped state recently signed a $8 million transportation bill. Watchers say it'll be a way for him to leave a lasting legacy.
Posted In: Jerry Brown, high speed rail, california

City bankruptcies trend troubles bond investors

Jul 26, 2012
If debt-ridden municipalities begin walking away from their financial obligations the way homeowners once did, such strategic defaults could wreak havoc for municipal bond holders.
Posted In: municipality, Muni Bonds, bankruptcy

PODCAST: Awaiting Facebook earnings, awaiting a Lady Gaga doll

Jul 26, 2012
Sanford Weill was once the king of making big banks bigger. Back in 1998, he combined Travelers, the insurance company, with Citibank to create Citigroup. But now, Weill wants to break up big banks. Facebook will post its first earnings after its IPO today, but the company has had a rocky road since it started selling shares and there are still big questions about its future. And why Goodyear is working on a new kind of tire: One made partially from soybeans.

Durable goods orders down over 1%

Jul 26, 2012
Durable goods -- like computers and equipment -- are one way to measure for how much companies are investing in future growth. In word: They're not. Durable goods orders were down more than a percent in June -- the most in five months.
Posted In: durable goods

PODCAST: A pool for Olympic betting or Greek prisoners?

Jul 25, 2012
A report from the Congressional Budget office says President Obama's health care law could save the federal government $84 billion over the next decade. That savings is mostly because of the Supreme Court ruling last month -- and a part of the law it ruled out. Caterpillar, the world's largest maker of construction and mining equipment, releases its quarterly earnings today. And reports issued by the U.S. Department of Agriculture don't usually create ripples beyond a small pond of farmers and investors, but today, though the USDA releases a much-anticipated briefing: the monthly food price forecast.

Geithner: Knew of LIBOR issue, initiated reform process in 2007

Jul 25, 2012
Today as Treasury Secretary Timothy Geithner was officially presenting a report from the Financial Stability Oversight Council on the state of the economy, he was grilled about British banks' manipulation of the LIBOR interest rate.
Posted In: Timothy Geithner, LIBOR

Secretary Geithner facing questions of LIBOR

Jul 25, 2012
Secretary Geithner is expected to tell the committee that the U.S. economy is starting to regain its footing, but still faces threats from uncertainty about government spending and taxes, and instability in Europe.
Posted In: Timothy Geithner, LIBOR

Home prices firm up but lenders stay skittish

Jul 24, 2012
Housing prices continue to firm up, but banks still aren’t confident in the housing or job markets to loan to anyone but the safest borrowers.
Posted In: housing market, foreclosures

PODCAST: Europe in trouble, from the Olympic Village to Germany's rating

Jul 24, 2012
The 2012 Olympic Games begin in London on Friday, but already a venerable Olympic sport is underway: The Brits are arguing about the costs and benefits of the event, which set them back at least $15 billion so far. Speaking of $15 billion, China's government-controlled oil company, CNOOC, is snapping up Nexen of Canada for just as much. Nexen is big in the oil sands of Alberta and the Gulf of Mexico. And as this summer's drought shows no signs of letting up, many farmers are worried about the future of their crops -- but in other states, farmers see nothing but green.

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