U.S. consumer sentiment rose in August, while an index of current economic conditions hit its highest since July 2007.» Read More
The rebound in the U.S. economy until the third quarter was concentrated in the goods-producing sector of the economy, something quite evident in data on personal spending on durable goods, particularly compared to data for spending on services. Given the fact that the U.S. economy is a service-oriented economy, the composition of consumer spending had therefore been skewed unfavorably in terms of what is best for job growth.
States with some of the highest unemployment in the country showed some improvement in October, though the decline partly reflected an increase in people who gave up looking for work.
The presidential commission investigating the BP oil spill in the Gulf of Mexico has said that neither the industry nor the US government had made adequate investments in clean-up technology in the wake of the 1989 Exxon Valdez spill, reports the Financial Times.
Former Securities and Exchange Commission chairman Harvey Pitt said that regulators’ upcoming insider trading cases, expected to be filed soon, are clear cases of abuse and don’t reflect a shift upward in regulatory action.
The Federal Reserve is undergoing what former central bank governor Frederic Mishkin is calling an unprecedented level of attacks caused by its inability to articulate a clear message regarding its multitrillion-dollar monetary policies.
George Osborne is set to water down plans to force disclosure of bank bonus payments above £1 million, in a move that will delight the City but sets up a political clash with business secretary Vince Cable and the Liberal Democrats, reports the Financial Times.
The president and COO of private-equity firm Blackstone Group, Tony James, told CNBC Friday that quantitative easing by the Federal Reserve will enhance productivity, but not whittle down the large unemployment number in the United States.
Six of the top-grossing movies this year have been 3-D films, Dreamworks CEO Jeffrey Katzenberg told CNBC Friday.
Those with jobs are working more hours, and factory workers are getting more overtime. Though neither is at the point that signals significant hiring ahead, it's clearly moving in the right direction, some economists say.
Currency friction between the United States and China is on a "collision course," as both countries manage two opposing monetary and economic interests, Jim Rickards, sr. managing director at Omnis, a market intelligence firm, told CNBC on Friday.
Deficit reduction commission co-chairman Erskine Bowles says he won't "do a whitewash" on the call for austerity measures merely to get a bipartisan consensus among panelists.
The Federal Reserve's easing programs are only one part of a three-pronged approach needed to rebuild the economy, Pimco's Mohamed El-Erian told CNBC.
Former Shell Oil company executive John Hofmeister told CNBC Monday that the Gulf of Mexico drilling moratorium is an example of the “starvation,” imposed on the hydrocarbon industry by the Obama administration.
Muni-bond funds of all types have been taking a drubbing, and the weakness continues.
The US economy is in for an extended period of slow growth, but it would be worse if policy makers had not acted aggressively in September 2008, investor Warren Buffett told CNBC.
Sen. Bob Corker (R-Tenn.) wants the Federal Reserve to drop its dual mandate of ensuring price stability and full employment and focus only on containing inflation.
The National Association of Home Builders says its housing market index edged up in November, with many respondents feeling somewhat more optimistic about the prospect for home sales in the near future.
The Fed’s stimulus-oriented policy is counterproductive to its mission: boosting jobs and small business confidence, David Malpass, president of Encima Global, an economic research and consulting firm, told CNBC on Monday.
In spite of Dubai's financial troubles, including the missed payments recently by the financial services company, the Dubai Group, managing director of EFG-Hermes, Matt Wakeman, told CNBC Monday that Dubai is a good place to do business, because of its infrastructure and low taxes.
When the G-20 summit ended, attention focused on American global weakness rather than American global power, with no free trade agreement and intense criticism of recent action by the Federal Reserve,