*Investors cautious ahead of Greece's referendum on Sunday. LONDON, July 3- The dollar fell against a basket of currencies on Friday, hurt by softer than expected U.S. employment data and with most investors staying on the sidelines before Greece's referendum on bailout conditions at the weekend. Caution also reigned ahead of Greece's Sunday referendum on an...» Read More
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Fed policymakers in early August acknowledged they might have to ease a growing credit crunch but hoped for "more normal market conditions" without intervention.
U.S. consumer confidence deteriorated in August to its lowest in a year on concerns about a softening labor market and market turmoil stemming from the subprime mortgage crisis, a business research group said on Tuesday.
Economic confidence among U.S. small business owners fell in August as a slowing housing market soured sentiment, and 41 percent said they had recent cash flow troubles, according to a survey released Monday.
The risk of massive defaults on subprime mortgages and heavy debts now poses a bigger threat to U.S. economic prosperity than terrorism, a panel of U.S. business economists said on Monday.
Job losses in the U.S. construction sector could top one million if a housing downturntips the economy into recession and tighter access to credit dampens business investment.Strength in nonresidential construction may continue to offset a downturn in housing for now, but recent turmoil in credit markets suggests job losses may accelerate in the sectorin the next few months.
Subprime-battered mortgage lenders are shutting down, fewer homes are being built, and even some of the big U.S. retailers are planning conservatively for Christmas holiday sales.
New orders for long-lasting U.S.-made manufactured goods surged a much bigger-than-expected 5.9 percent in July, the biggest gain since September, and a business investment gauge posted the first gain in three months, a Commerce Department report showed on Friday.
The number of U.S. workers filing new claims for jobless aid fell 2,000 last week, government data Thursday showed, while the number of people still collecting benefits rose to its highest since April.
The deepening housing slump has caused an alarming surge in job losses at financial services companies, and the end is nowhere in sight, consulting firm Challenger, Gray & Christmas said on Tuesday.
Virgin Media said Tuesday that Chief Executive Officer Steve Burch has resigned. Virgin said that it will begin a search for Burch's replacement shortly and Neil Berkett, the company's chief operating officer, will assume the role of Acting CEO in the interim.
Two key indicators in the struggling U.S. home construction sector fell to 10-year lows in July and the number of U.S. workers seeking jobless benefits rose, government reports said Thursday.
Amgen shares plunged to a 52-week low on Thursday in the wake of the biotechnology firm’s announcement that it will lay off more than 2,000 and as many as 2,600 employees--or 12 percent to 14 percent of its labor force.
More credit problems surfaced in the financial sector on Tuesday, battering stocks and fueling worries that things will get worse before they get better. "The market is still jittery," said Stephen Porpora, managing floor broker with William O'Neil. "Everybody's looking for the next shoe to drop in this subprime problem."
Oil prices rose on Tuesday as concerns about a newly formed tropical storm in the Atlantic countered fresh troubles in credit markets.
The euro touched a six-week low against a broadly firmer dollar Tuesday as investors shunned the single currency on renewed concerns European banks may face losses related to the U.S. subprime mortgage market.
The euro fell Monday, after the European Central Bank injected cash into the banking system for a third straight day, reminding investors that Europe was not immune from credit problems originating in the United States.
The yen drifted lower against the dollar and euro in volatile trading after the Federal Reserve injected cash into the banking system for a third time on Friday, underpinning U.S. stocks and soothing nervous financial markets.
Roel C. Campos, a member of the Securities and Exchange Commission, announced Thursday that he will leave the agency next month, about three years before his second term expires.
The number of U.S. workers applying for jobless benefits rose by 7,000 last week to a level slightly higher than expected but still underscoring steady labor market conditions, government data on Thursday showed.