economy – News Stories About economy - Page 31

Oct 13, 2008 2:58 AM CDT

Global Markets Rally After Rescue Talks

Banks gain big in European trading

(Newser) - Asian and European markets were up today following announcements by global leaders of wide-ranging economic rescue packages. France's Cac 40 index and London's FTSE 100 index both bounced more than 5%, with banking shares posting some of the biggest gains, the BBC reports. Australia's main index jumped 5.6% and...

Bush Already Rejiggering $700B Bailout

Oct 12, 2008 6:29 AM CDT

Bush Already Rejiggering $700B Bailout

Initial reluctance to buy stock may have hurt rescue

(Newser) - The White House is abruptly overhauling plans for the $700 billion bailout package it pushed through Congress just two week ago—raising fears that valuable time was lost on a plan not carefully considered, reports the New York Times. Instead of using funds to buy up troubled securities as initially...

Bush:
Recovery
Will Take Time

Oct 10, 2008 10:20 AM CDT

Bush: Recovery Will Take Time

But don't worry, we have acted and will continue to act

(Newser) - The government's financial rescue plan is aggressive enough and big enough to work, President Bush said today, but it will take time to fully kick in. "Anxiety can feed anxiety and that can make it hard to see all that's being done to solve the problem," Bush said...

Stocks Plunge 600, Rebound

MARKETS

Oct 10, 2008 8:53 AM CDT

Stocks Plunge 600, Rebound

Panic grips the street

(Newser) - Stocks continued their rocky ride this morning, plunging more than 600 points after the opening bell before rebounding, reports the Wall Street Journal. The Dow, in what the Journal calls a “slow-motion crash,” was down about 250 points after the first hour. The Nasdaq and S&P followed...

'Rednecks' Endorse Obama

Oct 9, 2008 6:27 PM CDT

'Rednecks' Endorse Obama

Two seniors look to bridge a cultural gap

(Newser) - Two self-described "rednecks" from the South are on a mission to help elect the nation's first black president. AFP looks at the efforts of the Missouri senior citizens who are defying stereotype with their tounge-in-cheek “Rednecks for Obama” campaign. Their banner drew big crowds at last week's debate,...

McCain Talks Economy as Women Break for Obama

Oct 9, 2008 12:03 PM CDT

McCain Talks Economy as Women Break for Obama

Housing seen as way to win over white moms

(Newser) - John McCain is shifting focus to the economy in a bid to win over white women who are rapidly flocking to Barack Obama. Any bump McCain saw with female voters after selecting running mate Sarah Palin has utterly evaporated, the Boston Globe reports. Polls show Obama leading by 17% among...

Disaster Ahead for McCain, Obama, and Us

OPINION

Oct 9, 2008 10:07 AM CDT

Disaster Ahead for McCain, Obama, and Us

Economic crisis will ruin political, financial fortunes alike

(Newser) - Disaster’s dead ahead for John McCain, for Barack Obama, and for the rest of us, too, writes Rosa Brooks in the Los Angeles Times. McCain is “a dead man walking,” as he’ll soon find out. The "winner" will be a President Obama with no idea...

Hey, GOP:
Let's Emulate Obama's Cool

OPINION

Oct 9, 2008 7:57 AM CDT

Hey, GOP: Let's Emulate Obama's Cool

Attack ads worked in 2004. That's not where we're at: Frum

(Newser) - David Frum plans to vote for John McCain, but with the economy in ruin, anyone who thinks the GOP can win “by banging on about William Ayers and Jeremiah Wright is...to put it mildly...severely under-estimating the electoral importance of pocketbook issues.” These desperate attacks “are...

Yes, It's Bad,
But the Depression It Ain't

analysis

Oct 8, 2008 6:50 PM CDT

Yes, It's Bad, But the Depression It Ain't

Economist sees differences and remains optimistic

(Newser) - The economic news out of Wall Street and Washington is scary and shocking, but there's no reason to use the "D" word anytime soon, Jay Hancock writes in the Baltimore Sun. He talks with economic historian and professor Louis Galambos, who remains guardedly optimistic about the "core of...

Credit Chill Spreads to Russia

Oct 8, 2008 4:31 PM CDT

Credit Chill Spreads to Russia

Georgian war spooked foreign investment, destabilized economy

(Newser) - The credit crisis has officially reached Russia, revealing just how fragile the Russian economy is, BusinessWeek reports. Stocks fell so much this week that the government today suspended both exchanges to stem further loss. But the country's reliance on foreign cash—disappearing as investors flee—is bound to affect more...

We Need 2nd
Stimulus Bill:
Pelosi

Oct 8, 2008 2:45 PM CDT

We Need 2nd Stimulus Bill: Pelosi

Struggling economy requires a $150 billion plug, Speaker says

(Newser) - House Speaker Nancy Pelosi says a second economic stimulus plan is needed now because of the faltering economy, and she puts the price at $150 billion. President Bush, however, has promised a veto. The House passed a $61 billion economic aid proposal last month before lawmakers left Capitol Hill ahead...

Obama Takes
Round 2: Polls

Oct 8, 2008 2:08 AM CDT

Obama Takes Round 2: Polls

Dem grabs clear debate victory in CBS, CNN polls

(Newser) - Barack Obama was the clear winner of last night's debate against John McCain, two separate polls conducted for television networks found. Minutes after the debate ended, 40% of uncommitted voters identified Obama as the winner to 26% who said McCain came out on top, CBS News reports. Viewers found Obama...

All Economy's Bubbles
Have Burst at Once

Analysis

Oct 7, 2008 4:07 PM CDT

All Economy's Bubbles Have Burst at Once

Dominoes tumble from real estate to credit to commodities

(Newser) - The real reason the global economy is tanking is because a huge set of financial bubbles are all bursting at once, explains Steven Pearlstein in the Washington Post. The US real-estate bubble started the party, leading to a burst in the credit bubble, the corporate takeover bubble, and the commodities...

Stocks Sink as Bernanke Hints at Rate Cut

MARKETS

Oct 7, 2008 1:28 PM CDT

Stocks Sink as Bernanke Hints at Rate Cut

After early optimistic surge, Dow falls 300 points

(Newser) - Federal Reserve Chairman Ben Bernanke warned today that the financial crisis has not only darkened the country's current economic performance but also could prolong the pain. The Fed chief's gloomy assessment appeared to hint of an interest rate cut on or before the Fed’s next meeting later this month....

The Crisis Dwarfs $700B

Oct 7, 2008 10:18 AM CDT

The Crisis Dwarfs $700B

A US-centric band aid can't quell global markets as confidence plunges

(Newser) - As the financial crisis continues to grow, the $700 billion bailout passed by Congress last week may be too little too late, the Washington Post reports. The plan may not begin relieving banks of toxic assets for another month, and, meanwhile, the crisis has gone global, making $700 billion seem...

Race's Sharper Attacks Run Economic Risk

ANALYSIS

Oct 7, 2008 6:21 AM CDT

Race's Sharper Attacks Run Economic Risk

Knife-fight tactics are out of place in crisis, strategists say

(Newser) - Barack Obama and John McCain continue to sharpen their verbal barrage on each other ahead of tonight's debate, with Sarah Palin even going so far yesterday as to denounce Obama as "not one of us." But in economic upheaval, both candidates risk sounding off-message or even irrelevant, writes...

Clinton Would
Stomp Palin in
Prez Race: Poll

Oct 7, 2008 3:11 AM CDT

Clinton Would Stomp Palin in Prez Race: Poll

Hillary scores 2-1 over Palin among women voters

(Newser) - Hillary Clinton would make moose meat of Sarah Palin in a head-to-head election battle to be president, according to a new poll among women voters. In a theoretical 2012 faceoff, women voters said they would back Hilary 61% to Palin's 27%, reports the New York Daily News. Clinton is...

In Crisis, Buffett Is
Modern JP Morgan

Oct 6, 2008 1:27 PM CDT

In Crisis, Buffett Is Modern JP Morgan

'Oracle of Omaha' offers financial, psychological help to stressed America

(Newser) - Amid the financial panic of 1907, financier JP Morgan stepped in to play the role of central bank, crafting an economic rescue plan and using his personality to offer worried Americans a psychological boost. Today, Warren Buffett’s financial aid to Wall Street and calming influence on Main Street are...

Dire Economy Boosts Obama in Swing States

Oct 5, 2008 9:25 AM CDT

Dire Economy Boosts Obama in Swing States

GOP has hard time making case to worried voters for 4 more years

(Newser) - As voters turn green over the shaky economy, the electoral map is turning blue, according to a New York Times tally. Barack Obama is hitting hard in nine states that George Bush took in 2004 and weren’t expected to be tossups this close to November—forcing John McCain to...

Employers Cut Payrolls at Fastest Rate
in 5 Years

Oct 3, 2008 8:22 AM CDT

Employers Cut Payrolls at Fastest Rate in 5 Years

Some 159,000 positions disappear

(Newser) - Employers slashed payrolls by 159,000 in September, the most in more than 5 years and a worrisome sign that the economy is hurtling toward a deep recession. Today's snapshot also showed the nation's unemployment rate held steady at 6.1% as hundreds of thousands of people streamed out of...