recession

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Fed Battles to Balance Rate Cuts, Inflation

Officials fret over steep drop hampering possible recovery

(Newser) - Inflation worries have some Fed officials hinting that interest-rate cuts may slow down, sparking concerns among investors who expect the central bank to trim rates 75 more basis points at its March 18 meeting, reports the Wall Street Journal. Rates have been reduced 2.25% since September—to 3%--in an...

Slow Jan. Sales Worry Retailers
Slow Jan. Sales Worry Retailers
Feb 7, 2008 8:46 AM CST

Slow Jan. Sales Worry Retailers

Wal-Mart misses January projections as recession concerns gain momentum

(Newser) - Winter storms and lagging gift-card redemption iced Wal-Mart’s January same-store sales growth, the retailer said, raising concerns the US is in a recession, reports the Wall Street Journal. Wal-Mart expected 2% sales growth in stores open more than a year, but saw sales bump just 0.5%. Its 1....

Streeters Give Ben Bad Grades
Streeters Give Ben Bad Grades
Feb 6, 2008 5:29 PM CST

Streeters Give Ben Bad Grades

Fed chair faulted for bad choices

(Newser) - Economists went negative on Ben Bernanke in a new Wall Street Journal survey, grading the Fed chief at 75 out of 100 points—the lowest mark in two years on the job—and saying he had managed communications poorly and was too attentive to bears and bulls. One watcher said...

Service Sector Records Shocking Contraction

January stats fan recession fears

(Newser) - US service industries took a staggering and unexpected plunge in January, contracting at a pace not seen since the last recession. In today’s non-manufacturing report, which leaked nearly an hour early, the index plummeted from 54.4 to 41.9, far more than the 53 analysts forecast. Stocks fell...

Worry Over Economy Highest in 14-Plus Years

Finances are top concern among voters: poll

(Newser) - Americans' concern over the domestic economy is at a level not seen in nearly 15 years, and voters doubt the Bush stimulus package will avert a recession, a new Washington Post-ABC News poll shows. Eight in 10 Americans rate the economy as "not so good" or "poor,"...

Looking for a Real Recession? Try Japan

Once-booming economy stumbles, yet people are 'indifferent'

(Newser) - While economists squabble over a possible US recession, Japan has quietly slipped into one. The country’s postwar riches have all but vanished, the Washington Post reports, as its GDP tumbles from fourth to twentieth among the world’s countries and its share of the world’s economy dips from...

OPEC Holds Oil Production Steady
OPEC Holds
Oil Production Steady
Feb 1, 2008 1:00 PM CST

OPEC Holds Oil Production Steady

As expected, consortium rebuffs US call to boost supply

(Newser) - OPEC dashed American hopes for a boost in oil production today, Bloomberg reports. The US and other Western nations wanted more oil on the market to lower prices, but OPEC decided to hold production steady. The consortium, which supplies 40% of the world's oil, is worried that the flagging world...

Fed Cuts Key Rate by Half Point
Fed Cuts Key Rate by
Half Point
Jan 30, 2008 1:24 PM CST

Fed Cuts Key Rate by Half Point

Officials signal further cuts possible as overnight lending rate hits 3%

(Newser) - The Federal Reserve cut a key interest rate by a half percentage point today, reports the Wall Street Journal, bringing the benchmark overnight lending rate down to 3% even as officials signaled that further cuts were possible. The widely anticipated move follows last week's emergency .75% cut to a rate...

Economic Growth Slowed to a Crawl in Q4

Economy in far worse shape than analysts predicted

(Newser) - Economic growth braked so violently in the fourth quarter of 2007 that it wiped out a stellar third quarter, dragging annual growth to a 5-year low. Last quarter’s 0.6% GDP growth—after 4.9% pace in Q3—was just half what analysts expected, as the housing component plummeted...

World Economy May Dodge US Downturn
World Economy May Dodge US Downturn
Jan 30, 2008 3:01 AM CST

World Economy May Dodge US Downturn

IMF predicts slide, but not the crisis it would have been 5 years ago

(Newser) - The world economy will still catch a cold when America sneezes, but it won't be as bad as it would have been 5-10 years ago, the Washington Post reports. The International Monetary Fund predicts a 2008 global growth forecast of 4.1%—down from 4.9% last year—largely because...

US Recession May Imperil Global Tourism

UN body predicts slower international travel growth in 2008

(Newser) - The number of international tourists could decrease this year if the US falls into a deep recession, but the UN is "cautiously optimistic" that 2008 will be the fifth straight year of growth, Reuters reports. After 2007's record 898 million tourist trips, a 6.2% jump over 2006, the...

Romney Lets Guard Down, Boosts Appeal

Geeky CEO shines through matinee idol package on Fla. trail

(Newser) - Mitt Romney's inner nerd is showing, and allowing voters to see it may make him seem likable enough to get elected, Time reports. The candidate's conservative attack dog persona flooded airwaves for months but didn't play well outside of Michigan; now, the tired candidate is letting his dweeby, number-crunching, spreadsheet-loving...

TV Makers Scoff at Your Puny Recession

Say buyers will continue snapping up flat panels; investors not so sure

(Newser) - Who cares if there’s a recession? The Super Bowl’s on! Even after the worst retailing Christmas in years, the makers of flat-panel, high-definition TVs are confident their trendy product will keep selling, spurred by falling prices and prime tube-watching events like the Olympics. One market-research firm is predicting...

Consumer, Housing Numbers Slump
Consumer, Housing Numbers Slump
Jan 29, 2008 11:14 AM CST

Consumer, Housing Numbers Slump

News isn't all gloomy: Demand for durable goods surges

(Newser) - Consumer confidence fell a bit less than expected but still approached a 2-year nadir in January, reinforcing fears that Americans will put the brakes on personal spending. In other economic reports out today, the S&P/Case-Shiller housing-price index report showed a 7.7% year-over-year drop for November, Bloomberg reports, and...

World Money Chief Calls for Global Action

IMF head foresees widespread slowdown, backs US stimulus

(Newser) - With a global recession looming, the head of the IMF has warned bankers meeting in Davos, Switzerland, that lower interest rates alone won’t avert a crisis, the Financial Times reports. Dominique Strauss-Kahn called on governments to follow the US in easing fiscal policies, reversing a quarter-century of emphasis on...

Stocks Retreat in Asian, Euro Markets

World markets fell today on fears of US recession, slowing global growth

(Newser) - European and Asian markets slid again today as fears that the US is in a recession gained ground—despite efforts to shore up its economy and the likelihood the Fed would cut rates up to 50 basis points this week, reports Reuters. Commodity producers and banks suffered as investors worried...

Ailing Yahoo! Can't Keep Up With the Times
Ailing Yahoo! Can't Keep Up With the Times
OPINION
Jan 25, 2008 2:25 PM CST

Ailing Yahoo! Can't Keep Up With the Times

Outmoded, mismanaged company is poised for implosion

(Newser) - After miraculously withstanding the dot-com crash, Yahoo is again poised to fall face first off a virtual cliff, with its plummeting stock hardly masked by national economic disrepair. But despite hemorrhaging users to Google, the company is still a huge presence on the Web, with 3 billion daily hits. So...

Poll: Most Expect Recession but Aren't Hurting—Yet

Poll shows majority fear for future

(Newser) - The vast majority of Americans are convinced the nation is sinking into a recession—but most are not feeling the pinch themselves and have no plans to tighten their belts just yet, according to a Los Angeles Times/Bloomberg poll. A year ago a similar poll showed widespread confidence that the...

US to You: $600 Check's in Mail
US to You: $600 Check's in Mail
UPDATED
Jan 24, 2008 10:39 AM CST

US to You: $600 Check's in Mail

Bipartisan compromise would put $600 in your pocket

(Newser) - Congress today announced an economic stimulus package that would put a $600 check in every American taxpayer's mailbox by early summer, sources tell CNN, and a likely $300 per child. The refunds are "there to strengthen the middle class, to create jobs and to turn this economy around,"...

US Sneeze Doesn't Spook Many at Davos

Economic power shift has many world execs cheery about prospects

(Newser) - Bigwigs spooked by the downturn in the US economy aren't spreading their usual cheer at the World Economic Forum in Switzerland, Fortune reports, but many other Davos attendees are smiling. Representatives say the Indian and Chinese economies are strong enough to weather recession; many agree with George Soros that “...

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