http://www.mail.com/subjects/1370-economy.html Mail.com - the best personalized free web-based Email en en http://sec-s.uicdn.com/mail.com/2.28/img/mailcom_logo_rss.png http://www.mail.com/subjects/1370-economy.html http://www.mail.com/business/finance/2105342-stocks-fall-fed-weak-chinese-manufacturing.html NEW YORK (AP) — Stocks fell in early trading, extending a sell-off that began Wednesday afternoon, after Chinese manufacturing unexpectedly contracted and on concern that the Federal Reserve may ease back on its stimulus program. The Dow Jones industrial average was down 50 points at 15,256 as of 10:28 a.m., a decline of 0.3 percent. It had been down 127 ... Thu, 23 May 2013 14:43:59 GMT http://www.mail.com/business/finance/2105342-stocks-fall-fed-weak-chinese-manufacturing.html 2013-05-23T14:43:59Z http://www.mail.com/business/economy/2105226-us-sales-up-23-percent-april.html WASHINGTON (AP) — Sales of new homes rose in April to the second highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering. New-home sales rose to a seasonally adjusted annual rate of 454,000 in April, the Commerce Department said Thursday. That was up 2.3 percent from March an... Thu, 23 May 2013 14:20:41 GMT http://www.mail.com/business/economy/2105226-us-sales-up-23-percent-april.html 2013-05-23T14:20:41Z http://www.mail.com/business/finance/2104528-markets-roiled-nikkeis-73-percent-slide.html LONDON (AP) — Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago. Several reasons have been blamed for the 7.3 percent fall in the Nikkei index to 14,483.98, including a spike in the Japanese government's borrowing costs and u... Thu, 23 May 2013 14:14:24 GMT http://www.mail.com/business/finance/2104528-markets-roiled-nikkeis-73-percent-slide.html 2013-05-23T14:14:24Z http://www.mail.com/business/finance/2105044-applications-us-unemployment-aid-fall-to-340k.html WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth. The less volatile four-week average ticked down just 500 to 339,500, the Labor Department said Thursday. That's close to the five-year low of 338,000 reached during the first week of... Thu, 23 May 2013 13:37:30 GMT http://www.mail.com/business/finance/2105044-applications-us-unemployment-aid-fall-to-340k.html 2013-05-23T13:37:30Z http://www.mail.com/business/economy/2105148-ecb-official-bank-authority-indispensable.html FRANKFURT, Germany (AP) — A top European Central Bank official says an agency with powers to restructure and wind down busted banks is "indispensable" to strengthening the continent's banking system against future turmoil. Benoit Coeure said in the text of a speech Thursday in Copenhagen that such an agency could end "the bailout culture" and spare taxpay... Thu, 23 May 2013 13:22:41 GMT http://www.mail.com/business/economy/2105148-ecb-official-bank-authority-indispensable.html 2013-05-23T13:22:41Z http://www.mail.com/business/finance/2104924-us-equities-sell-off-on-futures-slump.html NEW YORK (AP) — The momentum of a late sell-off on Wall Street carried over into a second day, sending U.S. futures and global stock markets into retreat. Uncertainty over how committed the Fed remains to a massive bond-buying program scattered investors and overshadowed a Labor Department report Thursday that was slightly better than most economists had ... Thu, 23 May 2013 13:06:51 GMT http://www.mail.com/business/finance/2104924-us-equities-sell-off-on-futures-slump.html 2013-05-23T13:06:51Z http://www.mail.com/business/economy/2104684-oil-to-93-chinese-recovery-concerns.html The price of oil fell to near $93 a barrel on Thursday after a survey showed manufacturing activity in China falling to its lowest level in seven months, a sign that the recovery in the world's No. 2 economy is fading. By early afternoon in Europe, benchmark oil for July delivery was down 99 cents to $93.29 a barrel in electronic trading on the New York M... Thu, 23 May 2013 12:13:00 GMT http://www.mail.com/business/economy/2104684-oil-to-93-chinese-recovery-concerns.html 2013-05-23T12:13:00Z http://www.mail.com/business/finance/2104574-japan-gyrations-underline-economys-vulnerability.html TOKYO (AP) — Japan's financial markets gyrated wildly Thursday, underscoring the vulnerability of its economy to a loss of investor confidence as Prime Minister Shinzo Abe attempts shock monetary easing to end two decades of stagnation. Interest rates, or yields, on 10-year Japanese government bonds briefly topped 1 percent for the first time in a year on... Thu, 23 May 2013 11:27:23 GMT http://www.mail.com/business/finance/2104574-japan-gyrations-underline-economys-vulnerability.html 2013-05-23T11:27:23Z http://www.mail.com/news/politics/2104644-economy-trouble-obama-approval-steady.html WASHINGTON (AP) — The economy is recovering, the White House is dealing with multiple controversies, and President Barack Obama appears generally unaffected either way. Several recent polls show the president sustaining an overall approval rating around 50 percent, with no major uptick from gains in housing, jobs and the stock market, and no downtick from... Thu, 23 May 2013 07:17:03 GMT http://www.mail.com/news/politics/2104644-economy-trouble-obama-approval-steady.html 2013-05-23T07:17:03Z http://www.mail.com/scitech/news/2104582-lenovo-quarterly-profit-up-90-percent.html BEIJING (AP) — Computer maker Lenovo Group said Thursday its latest quarterly profit rose 90 percent as sales of smartphones and mobile computing technology expanded. Lenovo said it earned $127 million, or 1.22 cents per share, in the three months ending March 31. Revenue rose 4 percent over a year earlier to $7.8 billion. Lenovo ranks a close second behi... Thu, 23 May 2013 06:53:31 GMT http://www.mail.com/scitech/news/2104582-lenovo-quarterly-profit-up-90-percent.html 2013-05-23T06:53:31Z http://www.mail.com/business/economy/2104420-survey-china-manufacturing-contracting.html BEIJING (AP) — A survey shows China's manufacturing contracted this month, adding to signs a fragile recovery in the world's No. 2 economy is slowing. HSBC Corp. said Thursday the preliminary version of its monthly purchasing managers index fell to a seven-month low of 49.6 from April's 50.4 on a 100-point scale. Numbers below 50 show a contraction. ... Thu, 23 May 2013 04:43:40 GMT http://www.mail.com/business/economy/2104420-survey-china-manufacturing-contracting.html 2013-05-23T04:43:40Z http://www.mail.com/news/politics/2104476-urban-renewal-big-us-cities-showing-strong-growth.html WASHINGTON (AP) — Urban renewal? New census estimates show that most of the nation's largest cities further enhanced their allure last year, posting strong population growth for a second straight year. Big cities surpassed the rate of growth of their surrounding suburbs at an even faster clip, a sign of America's continuing preference for urban living aft... Thu, 23 May 2013 04:22:17 GMT http://www.mail.com/news/politics/2104476-urban-renewal-big-us-cities-showing-strong-growth.html 2013-05-23T04:22:17Z http://www.mail.com/business/finance/2102360-asia-stocks-china-factory-output-slips.html BANGKOK (AP) — Asian stock markets fell Thursday, weighed down by a contraction in China's manufacturing that adds to signs a shaky recovery in the world's No. 2 economy is slowing. HSBC Corp. said its preliminary Purchasing Managers Index fell to a seven-month low of 49.6 in May from April's 50.4. Numbers below 50 indicate that activity is contracting. A... Thu, 23 May 2013 03:06:01 GMT http://www.mail.com/business/finance/2102360-asia-stocks-china-factory-output-slips.html 2013-05-23T03:06:01Z http://www.mail.com/news/politics/2102284-union-power-issue-garcetti-elected-la-mayor.html LOS ANGELES (AP) — The incoming mayor of Los Angeles was able to defeat a fellow Democrat by depicting her as a pawn of utility union bosses in a city long friendly to labor, an outcome expected to echo beyond California as unions nationwide face threats to their clout. With all precincts reporting Wednesday, Councilman Eric Garcetti defeated city Control... Wed, 22 May 2013 23:03:17 GMT http://www.mail.com/news/politics/2102284-union-power-issue-garcetti-elected-la-mayor.html 2013-05-22T23:03:17Z http://www.mail.com/business/finance/2102836-stocks-fall-news-fed-weighed-cutting-stimulus.html NEW YORK (AP) — The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in the afternoon. Prices surged on congressional testimony by Fed Chairman Ben Bernanke early in the day that suggested the central bank would not slow its massive economic stimulus program any time soon. Then minu... Wed, 22 May 2013 22:08:24 GMT http://www.mail.com/business/finance/2102836-stocks-fall-news-fed-weighed-cutting-stimulus.html 2013-05-22T22:08:24Z http://www.mail.com/business/finance/2103236-senate-rejects-bid-to-food-stamps.html WASHINGTON (AP) — The Senate on Wednesday rejected a Republican bid to turn the federal food stamp program over to the states. Known as the Supplemental Nutrition Assistance Program, or SNAP, the food stamp program is administered by the Agriculture Department and federal dollars are unlimited as long as recipients qualify. The program cost $78 billion la... Wed, 22 May 2013 21:58:28 GMT http://www.mail.com/business/finance/2103236-senate-rejects-bid-to-food-stamps.html 2013-05-22T21:58:28Z http://www.mail.com/news/politics/2103300-house-committee-passes-iran-sanctions-legislation.html WASHINGTON (AP) — A new push to thwart Iran's nuclear ambitions by crippling the country's economy gathered momentum on Capitol Hill Wednesday with approval of legislation by the House Foreign Affairs Committee that would impose even tougher economic sanctions against Tehran. And the Senate resolved that the United States should support Israel if it is fo... Wed, 22 May 2013 21:25:32 GMT http://www.mail.com/news/politics/2103300-house-committee-passes-iran-sanctions-legislation.html 2013-05-22T21:25:32Z http://www.mail.com/news/politics/2103826-divided-fed-wrestles-with-when-to-slow-bond-buys.html WASHINGTON (AP) — The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy. Its uncertainty burst into view Wednesday, when Chairman Ben Bernanke testified to Congress in the morning and the Fed in the afternoon released the minutes of its last policy meeting. Stock prices gyrated through the day as investors struggled... Wed, 22 May 2013 20:51:23 GMT http://www.mail.com/news/politics/2103826-divided-fed-wrestles-with-when-to-slow-bond-buys.html 2013-05-22T20:51:23Z http://www.mail.com/news/politics/2103580-palestinians-faith-kerry-effort.html RAMALLAH, West Bank (AP) — Palestinians believe the U.S. effort to restart peace talks is doomed, and they're preparing instead to resume their campaign of seeking membership in key international organizations as soon as next month, officials told The Associated Press on Wednesday. As U.S. Secretary of State John Kerry arrives on another peace mission, Is... Wed, 22 May 2013 19:05:10 GMT http://www.mail.com/news/politics/2103580-palestinians-faith-kerry-effort.html 2013-05-22T19:05:10Z http://www.mail.com/business/economy/2103012-oil-falls-94-small-drop-supplies.html The price of oil fell near $94 a barrel Wednesday as the nation's oil supply fell less than expected and demand for gasoline remained weak. Benchmark crude for July delivery declined $1.90 to close at $94.28 a barrel on the New York Mercantile Exchange. The Energy Department said U.S. crude oil supplies declined by 300,000 barrels last week to 394.6 milli... Wed, 22 May 2013 19:02:45 GMT http://www.mail.com/business/economy/2103012-oil-falls-94-small-drop-supplies.html 2013-05-22T19:02:45Z http://www.mail.com/business/economy/2103448-fed-weighed-slowing-pace-bond-purchases.html WASHINGTON (AP) — Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as June — if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains. Minutes of the Fed's April 30-May 1 meeting released ... Wed, 22 May 2013 18:49:50 GMT http://www.mail.com/business/economy/2103448-fed-weighed-slowing-pace-bond-purchases.html 2013-05-22T18:49:50Z http://www.mail.com/business/finance/2102406-eu-steps-up-fight-tax-evasion-2013.html BRUSSELS (AP) — The European Union's leaders took a major step in tackling tax-dodgers Wednesday by pushing to end bank secrecy across the bloc's 27 members by the end of the year. German Chancellor Angela Merkel hailed the agreement to set up an automatic exchange of bank information among the EU's tax authorities — which has been long resisted by Austri... Wed, 22 May 2013 18:48:51 GMT http://www.mail.com/business/finance/2102406-eu-steps-up-fight-tax-evasion-2013.html 2013-05-22T18:48:51Z http://www.mail.com/news/politics/2103532-global-local-issues-iran-upcoming-election.html Main domestic and international issues facing Iran ahead of its June 14 presidential election: NUCLEAR QUESTION Four rounds of revived talks between Iran and world powers since last year have produced no important headway in the Tehran's impasse with the West. The U.S. and allies worry Iran's uranium enrichment could lead to atomic weap... Wed, 22 May 2013 18:35:19 GMT http://www.mail.com/news/politics/2103532-global-local-issues-iran-upcoming-election.html 2013-05-22T18:35:19Z http://www.mail.com/entertainment/lifestyle/2103220-fox-brings-messy-workplaces-to-television.html NEW YORK (AP) — This time "you're fired" is more than a Donald Trump catchphrase. Fox is turning the firing of real people from real jobs into prime-time entertainment starting this week. The network on Thursday will begin airing "Does Someone Have to Go?" a series where cameras go into small businesses and employees are compelled to rat out underperformi... Wed, 22 May 2013 17:28:44 GMT http://www.mail.com/entertainment/lifestyle/2103220-fox-brings-messy-workplaces-to-television.html 2013-05-22T17:28:44Z http://www.mail.com/business/economy/2103080-boom-town-baby-african-stock-markets-gains.html NAIROBI, Kenya (AP) — The barrage of hourly tweets sent out by Aly-Khan Satchu — East Africa's version of CNBC's Mad Money host Jim Cramer — cheers on what Satchu says is a growing sentiment among investors: If you're not investing in Africa, you should be. Or as Satchu loudly proclaims on his Twitter feed or newspaper column: "ITS BOOM TOWN BABY." Severa... Wed, 22 May 2013 17:23:44 GMT http://www.mail.com/business/economy/2103080-boom-town-baby-african-stock-markets-gains.html 2013-05-22T17:23:44Z http://www.mail.com/business/finance/2101934-weak-yen-help-japan-headache.html TOKYO (AP) — A steady fall in the value of the yen is proving a godsend for exporters such as Toyota. The cheaper yen is making their products more affordable overseas. Japan's trading partners are generally pleased, too, even though the lower yen makes their exports relatively more expensive. As many see it, other nations — from China to Britain to the U... Wed, 22 May 2013 17:04:20 GMT http://www.mail.com/business/finance/2101934-weak-yen-help-japan-headache.html 2013-05-22T17:04:20Z http://www.mail.com/news/politics/2102488-north-korean-leader-sends-special-envoy-to-china.html PYONGYANG, North Korea (AP) — After months of ignoring Chinese warnings to give up nuclear weapons, North Korean leader Kim Jong Un sent a high-level confidant to Beijing on Wednesday, in a possible effort to mend strained ties with his country's most important ally and a sign that he may be giving diplomacy a chance. The trip by Vice Marshal Choe Ryong H... Wed, 22 May 2013 16:24:57 GMT http://www.mail.com/news/politics/2102488-north-korean-leader-sends-special-envoy-to-china.html 2013-05-22T16:24:57Z http://www.mail.com/news/world/2102274-chinese-premier-visits-pakistan-praises-ties.html ISLAMABAD (AP) — China's premier signed economic agreements and praised Pakistan in glowing terms as he began a two-day visit Wednesday, underscoring the importance of the longstanding alliance to the two Asian powers. Premier Li Keqiang said "the tree of China-Pakistan friendship" was planted decades ago, nurtured by successive leaders and "is now exuber... Wed, 22 May 2013 16:11:20 GMT http://www.mail.com/news/world/2102274-chinese-premier-visits-pakistan-praises-ties.html 2013-05-22T16:11:20Z http://www.mail.com/news/world/2102410-kenyas-truth-report-killings-land-grabs-graft.html NAIROBI, Kenya (AP) — Kenya's president received a long-awaited Truth Justice and Reconciliation Commission report that names the president and his deputy as being among those suspected of planning and financing Kenya's 2007-08 postelection violence in which more than 1,000 people died and 600,000 were evicted from their homes. President Uhuru Kenyatta an... Wed, 22 May 2013 15:54:11 GMT http://www.mail.com/news/world/2102410-kenyas-truth-report-killings-land-grabs-graft.html 2013-05-22T15:54:11Z