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Fund manager: Don't get caught up in Asia numbers May 12, 2013 12:00 AM
Investors are worried about the slow pace of U.S. economic growth, but we're just one player in the international arena. To assess the global outlook, two numbers are critical: China's gross domestic product and Japan's inflation rate. They're important because China and Japan are the world's second- and third-largest economies, and both are faltering. The outlooks in both countries could continue to have a big impact on stocks around the world as Chinese and Japanese policymakers try to stimulate their economies.
6 tips to manage student loan debt May 12, 2013 12:00 AM
Finding a job in a slow-growing economy is daunting enough without new financial obligations. Yet that's the challenge many university students graduating over the next few weeks will face before too long. The clock on their student loans will begin counting down to their first payment due date. A study released in January by credit reporting agency TransUnion found that the average student loan debt rose 30 percent between 2007 and last year to $23,829.
G7 says Japan playing by currency rules May 11, 2013 12:00 AM
Japan, the world's number 3 economy has been in focus over recent months as the new government of Prime Minister Shinzo Abe has embarked on a radical policy of aggressive monetary stimulus to restart the country's postwar boom, which effectively ground to a halt in the early 1990s.
Despite late start, officials say record corn crop likely May 10, 2013 12:00 AM
The wet start to the corn planting season is expected to reduce the amount each acre produces this year, but farmers are planting so much of the crop that they're still likely to bring in a record amount.In a report released Friday, the U.S. Department of Agriculture estimated farmers will bring in 14.1 billion bushels of corn this year, a billion bushels more than the previous record of 13.1 billion bushels set in 2009.
Treasury reports $113 billion surplus in April May 10, 2013 12:00 AM
Through the first seven months of the budget year, the deficit was $488 billion. That's lower than last year's deficit of $720 billion over the same period.Even with the April surplus, the deficit for the full year will still be quite large: the CBO expects it will reach $845 billion.
Yen in focus as G-7 discusses recovery May 10, 2013 12:00 AM
Sharp fluctuations in the value of currencies can hurt business confidence and investment. Ministers meeting this weekend will be keen to avoid any developments that could spark a currency war.
Post office lost $1.9 billion in second quarter May 10, 2013 12:00 AM
Postmaster General Patrick Donahoe said the agency is considering its options, including negotiations with unions to reduce labor costs and another possible increase in prices. "Everything has to be on the table," Donahoe said.
Hedge fund manager Falcone to settle fraud case May 9, 2013 12:00 AM
Philip Falcone would be barred for two years from working as an investment adviser or broker under the agreement in principle between the Securities and Exchange Commission and Falcone and Harbinger Capital Partners, the firm said in a filing Thursday.
Record profit signals healthier Fannie Mae May 9, 2013 12:00 AM
Fannie Mae said something Thursday that would have been unthinkable a few years ago: It earned a record $58.7 billion profit in the January-March quarter.
Home builders need workers to keep up with demand May 9, 2013 12:00 AM
The resurgent U.S. housing market has sent builders calling again for Richard Vap, who owns a drywall installation company. Vap would love to help. And he would — if he could hire enough qualified people. “There is a shortage of manpower,” says Vap, owner of South Valley Drywall in Littleton, Colo. “We're probably only hiring about 75 or 80 percent of what we actually need.”
Feds: Hackers stole $45 million in ATM card breach May 9, 2013 12:00 AM
Brooklyn U.S. Attorney Loretta Lynch called it "a massive 21st-century bank heist" and compared its size to the Lufthansa heist in the late 1970s immortalized in the film "Goodfellas." Lynch said the fraudsters had moved with astounding speed to loot financial institutions around the world.
How much risk to take? Assessing fund volatility May 5, 2013 12:00 AM
The stock market is in a groove. The Standard & Poor's 500 has climbed six months in a row and finished April at another record high. So far this year the index is up roughly 12 percent. That sounds good, right? A qualified "yes" might be the best answer, but now is a smart time to review the risk level of your portfolio.
5 ways to cut that doggone pet food tab May 5, 2013 12:00 AM
Pet food isn't cheap. Americans are expected to spend $21.3 billion on pet food this year, up 3 percent from $20.6 billion in 2012, according to the American Pet Products Association. Here are some tips on how to cut down costs for you and Fido.
Why the economy is taking so long to recover May 4, 2013 12:00 AM
Account for population growth, and the jobs ditch is even deeper: Heidi Shierholz, an economist at the liberal Economic Policy Institute, says the economy needs to add 8.6 million jobs, not 2.6 million, to keep up with a rising population.
Texas plant that blew up carried only $1 million policy May 4, 2013 12:00 AM
The Texas fertilizer plant that exploded last month, killing 14 people, injuring more than 200 others and causing tens of millions of dollars in damage to the surrounding area had only $1 million in liability coverage, lawyers said Saturday.
What’s happening at the capitalists’ Woodstock May 4, 2013 12:00 AM
Buffett leads an annual meeting like no other May 4, 2013 12:00 AM
The Berkshire Hathaway annual meeting began humbly in 1982 with a crowd of 15 in an insurance company cafeteria. It has been growing steadily just as the company's stock price rose to become the most-expensive in the U.S., reaching $162,904 for a Class A share on Friday.
PepsiCo cuts ties with Lil WayneMay 3, 2013 12:00 AM
Disney’s Bangladesh exit pressures those who stay May 3, 2013 12:00 AM
While Disney's contractors had less than 1 percent of the company's production in Bangladesh, marketers with more activity there will have to decide whether to stay and spend to improve worker safety or go elsewhere and potentially see the costs of their products rise even more. They need to make the calculation as they assess the risk to their brand names.
Employers add 165,000 jobs; rate falls to 7.5 percent May 3, 2013 12:00 AM
The unemployment rate has fallen 0.4 percentage point since the start of the year, though it remains high. The Federal Reserve has said it plans to keep short-term interest rates at record lows at least until unemployment falls to 6.5 percent.The hiring last month was concentrated in services.