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US new-home sales fell in Dec., sales for year up

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In this Thursday, Dec. 6, 2012, photo a new home is constructed in Pepper Pike, Ohio. U.S. home construction surges 12.1 percent in December to end best year since 2008. AP/Tony Dejak

Sales of new U.S. homes cooled off in December compared with November, but sales for the entire year were the best since 2009. The Commerce Department says new-home sales fell 7.3 percent last month to a seasonally adjusted annual rate of 369,000. That’s down from November’s rate, which was the fastest in 2 ½ years.

Posted: January 25th, 2013 in Latest Business Stories,Photos & Videos | Read More »

Transcripts show Fed underestimated crisis in 2007

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In this Wednesday, Dec. 12, 2012 file photo, Federal Reserve Chairman Ben Bernanke speaks during a news conference at the Federal Reserve Board in Washington. Federal Reserve policymakers expressed broad support in December 2012 for the Fed's plan to buy bonds to support the U.S. economy. But they differed over how long to keep buying bonds to drive down long-term interest rates. Minutes of the Fed's December policy meeting show that some of the 12 voting members thought the bond purchases would be warranted through the end of 2013. AP Photo/Manuel Balce Ceneta, File

Federal Reserve officials in 2007 badly underestimated the scope of the approaching financial crisis and how it would tip the U.S. economy into the deepest recession since the Great Depression, transcripts of the Fed’s policy meetings that year show.

Posted: January 19th, 2013 in Latest Business Stories | Read More »

US declines to label China a currency manipulator

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COSTA RICA-THEME-MONEY

The Obama administration declined Tuesday to label China a currency manipulator, noting that it has let the yuan rise nearly 10 percent in value against the dollar since June 2010.

Posted: November 28th, 2012 in Latest Business Stories | Read More »

Finance leaders to address global economic threats

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In this Monday, October 8, 2012, file photo, people hang out at the venue of the IMF meeting in Tokyo. When global finance ministers meet this week in Tokyo, they'll confront a triple challenge: Economic troubles in three major regions are threatening the world's economy. AP/Junji Kurokawa

When global finance ministers meet this week in Tokyo, they’ll confront a triple challenge: Economic troubles in three major regions are threatening the world’s economy.

Posted: October 11th, 2012 in Latest Business Stories,Photos & Videos | Read More »

Rise in economic gauge suggests brighter outlook

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GOOD NEWS. In this AP file photo, the Bob Evans restaurant in Solon, Ohio advertises job openings. The latest evidence that the economy is making steady gains emerges from a gauge of future economic activity, which increased in October at the fastest pace in eight months. A string of better-than-expected reports on the economy have some analysts revising up their forecasts for economic growth. But they caution that their brighter outlook remains under threat from Europe's financial crisis. AP Photo/Amy Sancetta

The latest evidence that the U.S. economy is making steady gains emerged Friday from a gauge of future economic activity, which rose in October at the fastest pace in eight months.

Posted: November 19th, 2011 in Latest Business Stories,Personal Finance | Read More »

Bernanke urges banks to help small businesses

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Federal Reserve Board Chairman Ben Bernanke. AP FILE PHOTO/DENNIS COOK

Federal Reserve Chairman Ben Bernanke said recently that small businesses are still struggling to get loans more than two years after the recession ended. He said that banks could help them by easing overly tight lending standards.

Posted: November 13th, 2011 in Latest Business Stories,Personal Finance,Photos & Videos | Read More »

World powers seek to contain Europe debt crisis

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SAVING EUROPE. International Monetary Fund Managing Director Christine Lagarde arrives for a news conference at the IMF/World Bank Annual Meetings at IMF headquarters in Washington, on Saturday, Sept. 24, 2011. AP Photo/Jose Luis Magana

Global finance officials pledged on Saturday to take bolder moves to confront a European debt crisis that threatens to plunge the world into another deep recession. But sharp disagreements about exactly what to do can’t offer much reassurance to markets rocked by uncertainly in recent weeks.

Posted: September 25th, 2011 in Latest Business Stories,Photos & Videos | Read More »

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