A worldwide economic boom has yielded a record number of dollar billionaires in the past year, according to Forbes. Their number rose by 15% to 793 with India taking the lead in Asia and new Russians lining up to fill the gap left by jailed Mikhail K
Hiring picked up across the economy in February, with employers adding nearly a quarter-million jobs in the biggest boost in 3 months. Encouraged by help-wanted signs, job seekers turned out in droves, nudging the unemployment rate higher.
Consumer confidence dropped in early March to an 86.2 ranking, as people fretted about the economy's performance and their own financial fate in the months ahead. That was down considerably from February's reading of 96.1.
Resistance to foreign ownership of U.S. port operations spilled over into the aviation arena when a congressional committee told the Bush administration to postpone a plan to allow more foreign control of domestic airlines.
Should we be worried?... Why?
1% of the titled land in the world is owned by women. A baby girl born in the UK is likely to live to 81 - but if she is born in Swaziland, she is likely to die at 39. 21% of the world's managers are female.
Sen. Kent Conrad (D-ND), said the plan fails to attack the problem of debt that he said is expected to grow by hundreds of billions of dollars. "I see it as a staying-the-course budget when the course is radically off the track with burgeoning d
The New York Stock Exchange will ring the opening bell in honor of itself on Wednesday as it goes public, ending a 213-year history as a member-owned club and eyeing further growth in the booming exchange sector.
US workers' productivity slipped by 0.5% in the 4th quarter, the Labor Department said in a revised report that marked the first fall in the data since early 2001. Productivity is an essential factor in long-term economic health, allowing compani
Treasury Secretary John Snow authorized the government to use the $15 billion available in the exchange stabilization fund on March 3 and issued a "debt issuance suspension period'' to temporarily stop investments in the Civil Service R
A bill sponsored by Rep. Hunter calls for sensitive facilities, such as ports and power plants, to be owned by Americans. Rep. Collins said national security agencies need a bigger voice in the process now led by the Treasury Department.
Republicans in the Senate face a difficult but necessary vote to allow the Treasury to pad the $8.2 trillion national debt by another $781 billion. "During this administration, America's debt ... has increased by $3 trillion," said Sen.
Fitch Ratings Ltd. downgraded GM's debt further into junk status, cutting its rating on GM's unsecured debt to B from B plus. "The downgrade of GM reflects lack of substantive progress on reducing GM's cash operating costs, which Fit
Thursday, the new $10—featuring shades of orange, yellow and red—will join colorized versions of the $20 and $50 bill as the Bureau of Engraving and Printing attempts to stay one step ahead of counterfeiters and sophisticated copying machines.
Several years ago, Tamara Draut and her husband were sitting in the middle of their living room floor, thinking about selling their CD collection to raise food money. They struggled to repay $57,000 in student loans and $19,000 of credit-card debt.
The Commerce Department reported that sales of new single-family homes dropped by 5% , that was the slowest pace since January 2005 and left the number of unsold homes at a record high of 528,000.
The economy, sagging under the strain of lofty energy prices, grew at an annual rate of 1.6% in the final quarter of last year—a mediocre performance. Economists said the economy is already rebounding smartly prdicting a robust 4.5% pace in the curre
Lucrative opportunities taken away on a political whim; the danger of being locked up by an over-mighty government agency; the brick wall of protectionism - the business community expects to do battle with all these things in an emerging market.
To people in Silicon Valley and around the country concerned about the outsourcing of jobs to India, President Bush offered something to make the practice more palatable. Pizza. It's just one of the US products that India's is developing an a
China's currency rose Friday to its highest closing level against the U.S. dollar since a revaluation last July, after the biggest one-day drop in the opening dollar/yuan parity rate this year.
Federal Reserve Vice Chairman Roger Ferguson, the sole Democrat on the Fed's board, will step down from the central bank after 8-1/2 years, a surprise announcement at a time of change at the central bank. He will not attend the first meeting chai
A new law making it harder to erase debts in bankruptcy has failed to stop abuses and has stymied people who have legitimate reasons to file. In a new study 97% were unable to repay any debts and 79% had gotten into financial trouble because of job l
The day after Sonoran News posted the Web exclusive article, “Phoenix blows off campaign advertising violations,” this reporter received her first death threat. “Hey Linda, you better grow some eyes behind your f---ing head because you’re not going t
An extensive investigation of embattled Fannie Mae points to its former finance chief and controller as mainly responsible for the accounting failures at the mortgage giant now struggling to emerge from an $11 billion scandal. Fannie Mae executives —
Consumer prices galloped ahead in January at the fastest pace in four months, especially pinching the wallets of motorists and other energy users. The government's most closely watched inflation barometer, the Consumer Price Index, advanced by 0.
What is the basis of America's emnity for Iraq, Iran and Syria? Is it that they might give WMD to The Terrorists, are the enemies of the state of Israel, or live on top of "our oil"? Is it the threat of a Global Islamo-Fascist Caliphate
America's major NATO allies have cut military manpower and defense funds as a share of their economies since the 9/11 attacks, in sharp contrast with the US, which embarked on deficit spending to boost arms outlays to fight global terrorists.
"This magnificent scheme seems the perfect system for obtaining perpetual wealth for the country ...The one problem, however, is that such a system destroys the character of the counterfeiting nation’s people."
The Bush administration declared Tuesday that the United States has entered a new phase in its economic relationship with China and promised "rigorous enforcement" of laws aimed at curbing unfair trade practices.
Over the last five years, US manufacturing lost 2.9 million jobs, almost 17% of the manufacturing work force. The wipeout is across the board. Not a single manufacturing payroll classification created a single new job.