Economic news
Obama agenda marches on despite controversies
Despite Democratic fears, predictions of the demise of President Barack Obama's agenda appear exaggerated after a week of cascading controversies, political triage by the administration and party leaders in Congress and lack of evidence to date of wrongdoing close to the Oval Office. "Absolutely not," Steven Miller, the recently resigned ...
Ore. timber country ponders future with fewer logs
Jennifer Phillippi's grandparents started producing lumber in this corner of Oregon timber country in 1922, when a man could set up a mill, log the trees within range of a team of horses and move the mill to a new stand when those trees ran out. In those days the ...
Union leads march in Rome calling for job creation
A union of Italian metal workers has led thousands of people in a march through the heart of Rome to press the new government for measures to spur job creation. FIOM union leader Maurizio Landini said Saturday's protest was held because Italy is "going nowhere" in terms of signs of ...
Top officials call to overhaul euro institutions
Engineering a financial bailout for Cyprus in March was such a chaotic process that top European officials say it is time to rethink how the region manages its crisis — and who should be involved. Officials say the International Monetary Fund, which has contributed financial expertise and billions in emergency ...
Glance: Europe's Key Institutions
Following the chaotic bailout of Cyprus, top European Union officials are saying it's time to rethink how the region manages its crisis — and who should be involved. Here is a look at the key institutions involved in Europe's economic policymaking: —EUROPEAN UNION An economic and political partnership among 27 ...
Weekly unemployment insurance claims drop
First-time claims for unemployment insurance in Louisiana for the week ending May 11 decreased from the previous week's total. The state labor department figures released Friday show the initial claims decreased to 2,327 from the previous week's total of 2,466. For the comparable week a year earlier, there were 3,394 ...
New Mexico jobless rate drops slightly in April
The Department of Workforce Solutions reports that New Mexico's unemployment rate dropped last month and that job growth has improved. State officials said Friday the seasonally adjusted unemployment rate was 6.7 percent in April. That's down from 6.9 percent in March and 7 percent in April 2012. New Mexico has ...
Energy Dept. backs Texas LNG export plan
The Energy Department on Friday conditionally approved a Texas company's proposal to export liquefied natural gas, only the second such project allowed to move forward amid a production boom that has led to glut of domestic natural gas. The action would allow Freeport LNG Expansion L.P. to export up to ...
Maine's unemployment rate dips below 7 percent
Maine Gov. Paul LePage is hailing Maine's dropping unemployment rate, now at its lowest since 2008. Maine Labor Commissioner Jeanne Paquette said Friday that the preliminary seasonally adjusted unemployment rate estimate for Maine was 6.9 percent in April, down from 7.3 percent a year ago. The unemployment rate was below ...
Stocks rise on hopeful signs for the US economy
Encouraging news about the U.S. economy extended the stock market's rally Friday. Small-company stocks rose the most, a sign that investors are taking on more risk. Two companies soared in their stock-market debuts in the latest indication that the market for initial public offerings is reviving. A gauge of future ...
CBO: Obama budget cuts deficits $1.1T by 2023
President Barack Obama's budget would trim projected federal deficits by $1.1 trillion over the coming decade, using nearly $6 in higher revenues for every $1 in reduced spending to achieve it, Congress' nonpartisan budget analyst said Friday. After four straight years of annual shortfalls exceeding $1 trillion, the Congressional Budget ...
Pew survey questions Gen X, baby boomer savings
A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt, and losses during the Great Recession. The study found that members of Generation X, who are now between 38 and 47 years old, ...
Pa. unemployment rate drops slightly in April
Pennsylvania's unemployment rate declined slightly last month, but remains above the national rate. The state Department of Labor & Industry said Friday the April rate of 7.6 percent compared to 7.9 percent in March. The national jobless rate for April was 7.5 percent. A survey of households showed the number ...
Argentine dictator Videla dies in prison at age 87
Former dictator Jorge Rafael Videla, who took power over Argentina in a 1976 coup and led a military junta that killed thousands of his fellow citizens in a dirty war to eliminate so-called "subversives," died quietly in his sleep Friday while serving life in prison for crimes against humanity. He ...
On jobs trip, Obama tries to leave problems behind
President Barack Obama tried on Friday to leave behind the political battles that have overshadowed his second-term agenda, saying lawmakers should work on creating more middle-class jobs in the slowly growing economy. "Our work is not done, and our focus cannot drift," Obama said. Obama's jobs tour took him to ...
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