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Barack Obama will try to keep steady pressure on Republicans on Monday when he announces that his $450 billion jobs plan is ready to be taken up by Congress, reiterating his call for lawmakers to quickly pass the bill. The FT reports.
A recent terrorist threat is enough to bring back memories of the 2001 terrorist attacks, and CNBC's Eamon Javers has the story.
One day after revealing his jobs package, President Obama has hit the road urging voters to do whatever it takes to make lawmakers pass his bill. Also, discussing whether the President can strike a compromise with Republicans, with Jacob Lew, White House Director of the Office of Management & Budget.
I know people are frustrated with the economy and with what's going on in DC, says President Obama during a speech in Richmond, Virginia. The President is taking the pitch for his jobs plan on the road.
“We should pass this jobs plan right away,” said President Barack Obama as he addressed America and Congress, calling for an end to the political circus in Washington and action that would “actually help the economy.” With those words, the president threw down the gauntlet to his Republican opponents with a $447 billion dollar stimulus package aimed at boosting jobs before America goes to the polls late next year.
Democrats are asking President Obama to be tough in his jobs speech tonight. Discussing the President's plan, with Senator Robert Menendez (D-NJ) and CNBC's Maria Bartiromo.
Federal Reserve Chairman Ben Bernanke reiterated the central bank's commitment to providing stimulus for the wobbly US economy but offered no specific promises or details about what action could be taken.
Discussing the mortgage meltdown and the uncertainty of a recession with, Thomas Atteberry, FPA portfolio manager.
The White House may pull the Postal Service back from the brink of insolvency, at least for a few months. The Postal Service faces a $5.5 billion payment to the Treasury at the end of September.
It would appear that capitalism has a developed a terrible dependency issue, turning hostile and violent when there’s nothing left in the punch bowl. Unfortunately, new fears of a double dip recession have emerged, the caked residue of weak economic growth and a soft job market. On the heels of a 30-year spending spree and the party of our lifetime, we find ourselves searching for our equilibrium once again.
US's recovery will be lead by the manufacturing sector, Buddy Roemer, former governor of the state of Louisiana and Republican presidential candidate, told CNBC.
With his approval ratings on the floor, President Barack Obama will on Thursday unveil an eagerly awaited speech on job creation that will define the 2012 battle for the White House.
As fall begins, the economy is a mess. Unemployment is at 9.1 percent. The U.S. economy failed to add jobs in August. Consumer confidence is at record lows. The housing market is in despair. Europe is imploding. And, our political leaders cannot seem to put their differences aside to create some certainty and progress.
Friday’s disappointing US non-farm payrolls data showed no jobs where created in the US in August sending stocks sharply lower as fears over a recession intensified.
After trickling forward in terms of job growth in the United States, the August numbers released Friday were met with alarm. The numbers suggest that companies have stopped hiring and are maintaining the status quo in terms of head count. Based on this release, data equity markets sold off and gold rallied as concerns arose about the strength of the US economic recovery. Banks in particular including much maligned Bank of America were hit as a result.
"A very large proportion of those who are unemployed have been unemployed for a long time. It is known that if you are unemployed for a long period of time, it is much more difficult to re-enter the job market. It requires job retraining, it requires much more focused attention on hiring, and it requires not just another budget deficit, another monetary easing, but focusing much more on that particular group," Jacob Frenkel, Chairman of JP Morgan Chase, told CNBC.
"The market is hoping for a surprise to the downside. Any stronger number, and we risk having to price out expectations of QE3, and I think that is going to have a major impact on the market," John Woods, CIO at Citi Private Bank, told CNBC.
I’ve got a few thoughts on this so-called Obama jobs plan, scheduled for release next week. For starters, let’s be clear: Government doesn’t create jobs. It’s the private sector that creates jobs. And that’s precisely what President Obama has been missing for nearly three years now.
Pimco's manager in charge of the world's largest bond fund, Bill Gross, may have made a mistake when betting against US bond prices earlier this year, but the economy has deteriorated faster than anyone had appreciated, analysts told CNBC Tuesday.
With speculation growing that the Fed could pull the trigger on QE3 next month and the ECB buying up bonds in the euro zone, analysts at ING in Amsterdam have been asking if it is possible for a central bank to go bust.