RIO DE JANEIRO— Nivea dos Santos got her first job as a live-in maid at age 12, dusting, vacuuming, ironing and polishing the silver of a wealthy Rio de Janeiro family from dawn until she'd fall, exhausted, into bed. More than two decades later, Brazil has passed legislation aimed at preventing such abuses.» Read More
The full text of the Beige Book released by the Federal Reserve on March 5, 2008 and based on information collected on or before February 25, 2008.
The services sector contracted in February, though not as badly as economists had expected, while factory orders fell in line with forecasts.
U.S. private employers cut 23,000 jobs in February, a report by a private employment service said on Wednesday.
The text of a speech by Federal Reserve Chairman Ben Bernanke on Reducing Preventable Mortgage Foreclosures given on March 4, 2008 in Orlando, Florida.
Recruitment firm Adecco's fourth-quarter net profit fell 29 percent but the decline was less than analysts' expectations, and the Swiss-based staffing company said it sees good growth rates in Europe.
Here's one big difference between Boeing and Northrop Grumman: PR. Going into the long-anticipated tanker decision Friday, the Boeing team was in hourly contact with us, preparing for post-decision interviews. They've been in regular contact with me since last summer. Heck, they even sent me KC-767 playing cards!
U.S. manufacturing slumped to its weakest in nearly five years in February, reinforcing worries the world's largest economy is headed for recession, while a fall U.S. construction spending in January added to the gloom.
The combined punch of subprime mortgage defaults and heavy debt remains the biggest risk to the health of the U.S. economy, a panel of business economists said Monday.
Plans for sweeping federal programs that would aid troubled mortgage borrowers would bring unfair relief to speculators and reward investors who made bad bets, U.S. Treasury Secretary Henry Paulson said Thursday.
Subprime mortgage delinquencies and the credit crunch will trigger $400 billion in losses to the U.S. financial system and knock 1.3 percentage points from growth in 2008, according to a paper released Friday by four leading economists.
As if investors didn't have enough to worry about, Friday's batch of economic numbers shows more signs of recession as well as its evil twin--inflation.
U.S. consumer sentiment dropped to a 16-year low in February, hitting levels thatusually sound the alarm bells of recession, on worries about declining incomes and rising unemployment, a survey showed Friday.
U.S. Midwest business activity contracted sharply in February in a report Friday showingeven the areas of the country least affected by the boom-bust housing cycle are feeling ripples from the crisis.
U.S. personal income and personal spending in January rose more than expected, but inflation ate up a bigger portion of these as a key price index also rose, a government report showed on Friday.
The chance of an aggressive 75 basis points cut in the Federal Reserve's benchmark interest rate shot up to 62 percent on Friday, as U.S. equity futures pointed to a lower open and Treasury prices surged.
A Bay Area suburb grappling with declining revenue and ballooning employee expenses may become the first city in the state to declare bankruptcy.
Fed Chairman Bernanke said some small U.S. banks might go under during the current housing market problems, but the U.S. bank system overall remained solid.
The portion of U.S. junk bonds trading at distressed levels rose to 16.9 percent in February, up from 11.1 percent in January in a sign that defaults are headed higher, Standard & Poor's said on Wednesday.
US economic growth in the fourth quarter was unrevised at an annual pace of 0.6 percent, slowed by a collapse in spending on new homes and a slump in inventories.
Fed Chairman Bernanke warned Congress that the nation is in for a period of sluggish business growth and sent a fresh signal that interest rates will again be lowered.