
Economy News
AP - The feeble economy exhibited a smidgen of strength Thursday, with mildly positive reports on jobs, store sales and housing.
Reuters - U.S. Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.
AP - This year's back-to-school season isn't as big a bust for retailers as they feared — or as last year's — but it's not great either.
Reuters - Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.
AP - Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.
AP - Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system.
Reuters - Companies are cutting healthcare costs further amid a continuing sour economy, scaling back benefits and shifting a greater share of the expense to employees.
Reuters - Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery.
AP - Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.
AFP - The number of Americans filing new claims for jobless benefits fell faster than expected last week, extending a two-week decline, government data showed Thursday.
AFP - The most important lesson to come from the financial crisis is that banks must not be allowed to become "too-big-to-fail," Federal Reserve chairman Ben Bernanke said Thursday.
Reuters - The European Central Bank held interest rates at a record low on Thursday and extended its liquidity safety-net in response to a lopsided recovery and worries about vulnerable banks.
AFP - US National Economic Council chairman Larry Summers will visit China next week for talks on bilateral relations, China announced Thursday.