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US Economy



  • Social, cloud feel a little bubbly: Oracle chair Thursday, 31 Jul 2014 | 9:21 AM ET

    Silicon Valley is "alive and well," but the level of prosperity depends on the tech sector, Oracle Chairman Jeffrey Henley tells CNBC.

  • US banks brace for $1T (as in trillion) outflows Thursday, 31 Jul 2014 | 9:07 AM ET

    An outflow of deposits would reverse a five-year trend of large amounts of cash pouring into banks thanks to the Fed, the FT reports.

  • Surge in labor costs sends a strong signal on wages Thursday, 31 Jul 2014 | 8:48 AM ET
    A job seeker fills out an application during a career fair at the Southeast Community Facility Commission in San Francisco, California.

    U.S. labor costs rose more than 5-1/2 years in the second quarter, a sign that a long-awaited acceleration in wage growth was imminent.

  • US job cuts soar in July, thanks to Microsoft, HP Thursday, 31 Jul 2014 | 7:30 AM ET

    U.S. employers planned to cut nearly 50,000 positions in July, Challenger, Gray & Christmas reported Thursday, 50 percent higher than in June.

  • Opera lockout looms as contracts expire at midnight Thursday, 31 Jul 2014 | 6:46 AM ET
    Mozart's "The Marriage of Figaro" at the Metropolitan Opera House in New York in 2009.

    The Metropolitan Opera plays hardball with unions, vowing a lockout without union concessions before a midnight Thursday deadline.

  • Wisconsin Supreme Court upholds 2011 union law Thursday, 31 Jul 2014 | 5:01 AM ET

    MADISON, Wis.— The Wisconsin Supreme Court on Thursday upheld the 2011 law that effectively ended collective bargaining for most public workers, sparked massive protests and led to Republican Gov.

  • Expect 240,000 US jobs for June: OCBC     Thursday, 31 Jul 2014 | 12:11 AM ET

    Ahead of Friday's U.S. nonfarm payrolls, Selena Ling, Head, Treasury Research & Strategy at OCBC Bank, gives her estimates for the number of jobs that the U.S. added to its economy in June.

  • Argentina defaults for second time in 13 years Thursday, 31 Jul 2014 | 12:04 AM ET
    Billboard placed along a street in Buenos Aires showing a poster from the government-related movement San Martin supporting the Argentine government in its dispute with the so-called 'holdout' hedge funds

    Argentina failed to strike a deal to avert its second default in over 12 years after talks with holdout creditors ended without a settlement.

  • Former governor: Fed is right on target     Wednesday, 30 Jul 2014 | 10:17 PM ET

    With key indicators like inflation and employment on their way to meet the Fed's expectations, it may be time to normalize interest rates, says Robert Heller, Former Federal Reserve Governor.

  • No turning point for US jobs: Economist     Wednesday, 30 Jul 2014 | 6:20 PM ET

    Despite recent upbeat employment data, the U.S. labor market is still made up mainly by part-time and low wage jobs, says Lindsey Piegza, Chief Economist at Sterne Agee.

  • Why the Fed needs to be more hawkish     Wednesday, 30 Jul 2014 | 6:08 PM ET

    John Carey, Executive Vice President and Portfolio Manager at Pioneer Investments, says the U.S. is seeing a higher risk of inflation and may face wage pressure in the months ahead.

  • Figures on government spending and debt Wednesday, 30 Jul 2014 | 4:40 PM ET

    WASHINGTON— Figures on government spending and debt.

  • NEW YORK, July 30- The U.S. dollar pared gains against a basket of major currencies on Wednesday after a Federal Reserve statement disappointed expectations that the central bank would take a more hawkish bias on monetary policy.

  • Maine: Fiscal year ended with unexpected revenue Wednesday, 30 Jul 2014 | 4:02 PM ET

    AUGUSTA, Maine— Maine ended the fiscal year with $39.1 million more in revenues than officials had expected, Republican Gov. The extra revenue plus unspent state funds produced a net year-end surplus of nearly $62 million when the fiscal year ended June 30, said Richard Rosen, acting commissioner for the Department of Administrative and Financial Services.

  • Markets could begin to ignore Fed Wednesday, 30 Jul 2014 | 3:56 PM ET
    Janet Yellen, chair of the U.S. Federal Reserve

    The Fed delivered a mixed message Wednesday, and the markets may increasingly start to ignore it if the economy continues to improve, analysts say.

  • Portland OKs Airbnb-type short-term rentals Wednesday, 30 Jul 2014 | 3:16 PM ET

    Mayor Charlie Hales and the city commissioners said they want Portland to be active in the "sharing economy." David Owen, regional head of public policy for Airbnb, said Portland is the first city for which the company is collecting such taxes.

  • Bank of America to pay $1.27 billion in fraud case Wednesday, 30 Jul 2014 | 2:48 PM ET
    A Bank of American branch office in Oakland, Calif.

    A U.S. district court in Manhattan has ruled that Bank of America must pay the U.S. government $1.27 billion in a Countrywide "hustle" fraud.

  • Connecticut's debt maintains negative rating Wednesday, 30 Jul 2014 | 2:45 PM ET

    HARTFORD, Conn.— A ratings agency has maintained Connecticut's debt rating as negative, saying the state's budget relies on one-time fixes and calling the state's economic recovery "slow and uneven." Dannel P. Malloy's budget adviser, said agencies reaffirmed Connecticut's debt ratings while downgrading ratings at other states "across the board.

  • Fed unswayed by growth, keeps easing in place Wednesday, 30 Jul 2014 | 2:41 PM ET
    Janet Yellen, chair of the U.S. Federal Reserve

    A second-quarter economic rebound did nothing to change the Fed, which stayed the course Wednesday with ultra-easy monetary policy.

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