Reuters - Sales of previously owned U.S. homes
slipped last month and the backlog of unsold properties hit a
record high, according to data on Friday that suggested the
market's downturn still has a long way to run.
AP - Wall Street steadied itself Thursday after two sessions of steep declines, rebounding moderately as oil prices stepped back from their frenetic upward run.
Reuters - Stocks rose modestly on Thursday after
two days of steep declines as energy prices pulled back from
record highs and a proposed acquisition in the utilities sector
buoyed optimism.
AP - Fast-rising gas prices claimed their latest victim Thursday: Ford Motor Co., which dropped its goal of becoming profitable by 2009 and said it will cut production of trucks and sport utility vehicles through the rest of this year. It was a warning shot to the rest of the beleaguered U.S. auto industry, which is facing its worst sales in more than a decade.
AP - The number of newly laid off workers filing for unemployment benefits unexpectedly fell last week to the lowest level in a month. -- read full article
Reuters - U.S. home prices fell a record 1.7
percent in the first quarter and the number of workers on
jobless benefit rolls held at a four-year high, underscoring
the economy's woes, data on Thursday showed.
Reuters - The number of U.S. workers filing
initial claims for jobless benefits unexpectedly fell 9,000
last week, the government said on Thursday, while the overall
number of workers on the benefit rolls held at a four-year
high. -- read full article
Reuters - Stocks were mostly flat on Thursday as
the price of oil weighed on sentiment as it hit another record
high before retreating, offsetting gains by financial company
shares.
AP - Congress says that getting stuck in airports and on runways cost the nation $41 billion last year in lost productivity and extra operating expenses. -- read full article
AP - Ford Motor Co. is cutting North American production of pickups and SUVs as car buyers eyeing record gas prices turn toward more fuel-efficient models. The automaker says it no longer expects to return to profitability by 2009 and didn't rule out layoffs and plant closures.
Reuters - Home prices fell a record 1.7
percent in the first quarter and the number of workers on
jobless benefit rolls held at a four-year high, underscoring
the economy's woes, data on Thursday showed.
AP - With gasoline climbing toward $4 a gallon, police officers around the country are losing the right to take their patrol cars home and are being forced to double up in cruisers and walk the beat more.
Reuters - The lifestyles of the rich may be set
for a downgrade as the U.S. economic malaise works its way up
the income ladder, according to a survey released on Wednesday.
