WASHINGTON— President Barack Obama is preparing to sign an executive order cracking down on labor violations by companies that contract with the federal government, the White House said Wednesday. It mirrors protections Congress has already enacted that apply to Pentagon contracts.» Read More
I'll admit it: along with everyone else in Hollywood I have serious strike fatigue. And I'm really hoping--or the sake of my favorite TV shows as well as for the Los Angeles economy--that we do NOT have an actors strike.
The full text of a speech on the "Blueprint for Regulatory Reform" given by Treasury Secretary Henry Paulson on March 31, 2008:
Business activity in the U.S. Midwest contracted in March for the second consecutive month, a report showed Monday that continued the recent run of data highlighting worries of recession.
U.S. Treasury Secretary Henry Paulson said on Friday that an economic stimulus program that will put $168 billion into consumers' hands this year and next could help create hundreds of thousands of new jobs.
The U.S. economy seems to be slipping into recession and the Federal Reserve must cushion the pain and make it as brief as possible, two Fed policymakers said.
The economy nearly sputtered out in the final quarter of last year and is probably faring even worse now amid the continuing housing, credit and financial crises.
Chicago Federal Reserve Bank President Charles Evans said on Wednesday that U.S. interest rates are now "accommodative" and should help to support stronger growth in the second half of 2008.
Orders for big-ticket manufactured goods fell for a second straight month in February, a worse-than-expected performance that provided more evidence of a slumping economy.
New York City risks losing more than 20,000 jobs in the high-paying financial sector over the next two years as the crisis in mortgage markets drives down Wall Street's profits, according to a report issued on Monday.
Fed Chairman Ben Bernanke’s stock is at a 52-week high on Wall Street --- with the exception perhaps of Bear Stearns, which appears to be selling him short.
Today's statement is another in a series of very significant communications from the Fed. At the extreme, it could mean the Fed is done cutting rates, barring any more massive credit-market upheavals.
The size of the Fed’s expected rate cut today may help stimulate a sluggish economy. But it is unlikely to unfreeze the credit markets, especially the mortgage one.
The Federal Reserve slashed a key U.S. interest rate by three-quarters of a point, to 2.25%, but Wall Street didn't seem to care that the cut was smaller than many had expected.
Delta Air Lines is looking to cut 2,000 jobs, or more than 3 percent of its work force, as the No. 3 U.S. airline struggles with high fuel costs. And UAL, the parent of United Airlines, said it will tackle fuel costs by making cuts to its fleet of aircraft.
Fed policy-makers are expected to make the biggest interest rate cut since 1982, while two major Wall Street firms provided some relief to investors with better-than-expected earnings.
As the credit crunch worsens, the Federal Reserve is becoming more imaginative in its tactics. Wall Street is now betting on a full-point cut in interest rates, to 2%, when the Fed meets Tuesday.
The flagging U.S. economy got more mixed news from its troubled housing sector on Tuesday, while evidence of inflation pressures continued to lurk in the producer pipeline.
Lehman shares tumbled more than 20 percent Monday as Wall Street speculated whether or not it's the ailing banking system's next casualty.
Stocks were lower in early trading Monday as Wall Street digested the fire-sale buyout of an investment banking giant: Bear Stearns. CNBC brought the market pros for their perspective on the fallout.