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    U.S. Economy Headlines
    Home building slump hampers construction spending (AP)
    AP - Construction spending fell again in April as home building continued a more than two-year-long slide. The weakness was offset somewhat by an increase in non-residential spending activity which climbed to a record level. -- read full article
    Mon, 02 Jun 2008 16:09:18 GMT - Yahoo! News: Economy News
    Gas prices a risk for casual restaurants, Starbucks (Reuters)

    A barista serves a cup of Pike Place Roast, Starbucks new everyday brew, during the kickoff of a coast to coast tasting in New York's Bryant Park April 8, 2008. Record high U.S. gas prices threaten a new level of pain for casual dining restaurants stuck between value-oriented fast food and high-end eateries whose customers can afford to shrug off the economy's woes. (Keith Bedford - UNITED STATES/Reuters)Reuters - Record high U.S. gas prices threaten a new level of pain for casual dining restaurants stuck between value-oriented fast food and high-end eateries whose customers can afford to shrug off the economy's woes.


    -- read full article
    Mon, 02 Jun 2008 16:21:52 GMT - Yahoo! News: Economy News
    Factory slump wears on, construction dips (Reuters)

    Ford Motor assembly worker Dawn Schroeder (L) attaches the front head light to a 2008 Ford Focus at the Ford Motor Wayne Stamping and Assembly Plant in Wayne, Michigan, October 15, 2007. (Rebecca Cook/Reuters)Reuters - Manufacturing contracted in May for the fourth consecutive month and inflation pressures surged to their highest in four years, heightening fears the world's largest economy could be sliding toward stagflation.


    -- read full article
    Mon, 02 Jun 2008 17:38:48 GMT - Yahoo! News: Economy News
    S&P cuts major U.S. securities firms' ratings (Reuters)

    People walk past the world headquarters for Morgan Stanley  and  Co. Incorporated in New York May 19, 2008. Standard  and  Poor's cut the ratings of Lehman Brothers Inc, Merrill Lynch  and  Co Inc and Morgan Stanley on Monday and said outlooks on the large financial institutions in the United States are now mostly negative. (Lucas Jackson - UNITED STATES/Reuters)Reuters - Standard & Poor's in a sweeping move on Monday that rocked markets cut ratings on a number of major U.S. securities firms including Lehman Brothers Inc and said outlooks on the large U.S. financial institutions are now mostly negative.


    -- read full article
    Mon, 02 Jun 2008 18:09:26 GMT - Yahoo! News: Economy News
    Gas prices hold the line below $4, oil rises (AP)

    Williams Gas Pipeline President Phil Wright speaks during the Reuters Energy Summit in Houston June 2, 2008. Wright sees opening of the U.S. coastal region to offshore drilling critical to future gas supplies. (Richard Carson/Reuters)AP - Gasoline held steady near an average $3.98 a gallon at the pump Monday as a recent slide in oil futures stalled gas' advance to the $4 mark. Oil prices, meanwhile, rose on concerns about heating oil supplies and after an OPEC official said there's no need for the cartel to pump more oil.


    -- read full article
    Mon, 02 Jun 2008 18:53:16 GMT - Yahoo! News: Economy News
    Attorney Melvyn Weiss sentenced in lucrative kickback scheme (AP)
    AP - A federal judge has sentenced law firm co-founder Melvyn Weiss to 30 months in prison for his role in a lucrative lawsuit kickback scheme targeting some of the largest corporations in the nation. -- read full article
    Mon, 02 Jun 2008 18:52:07 GMT - Yahoo! News: Economy News
    Drivers putting less gas in tank, then running out (AP)

    A motorist reaches for the gas pump at a gasl station in Manassas, Virginia. Americans are becoming increasingly worried about the struggling US economy as home sales remain stuck in a rut and as red hot oil prices stoke inflation fears, a flurry of reports showed Tuesday.(AFP/File/Karen Bleier)AP - Brent Saba had just dropped a church group off at Philadelphia International Airport on Sunday morning and was heading north on Interstate 95 when it happened: His 15-passenger van ran out of gas.


    -- read full article
    Sun, 01 Jun 2008 23:11:58 GMT - Yahoo! News: Economy News
    Ending dollar peg won't solve Gulf inflation: Paulson (Reuters)

    U.S. Treasury Secretary Henry Paulson speaks during a news conference in Jeddah May 31, 2008. Paulson said on Saturday the dollar peg for currencies in the Gulf Arab countries had served the region well and any changes to the peg would be a sovereign matter. (Suzan Baaghil/Reuters)Reuters - Treasury Secretary Henry Paulson said on Sunday leaders of Gulf oil producing states had told him that abandoning their currency pegs to the dollar will not solve their inflation problems.


    -- read full article
    Sun, 01 Jun 2008 15:18:27 GMT - Yahoo! News: Economy News
    Paulson says dollar peg has served Mideast well (Reuters)

    U.S. Treasury Secretary Henry Paulson (L) attends a joint news conference with Saudi Finance Minister Ibrahim al-Assaf in Jeddah May 31, 2008. (Suzan Baaghil/Reuters)Reuters - U.S. Treasury Secretary Henry Paulson said on Saturday the dollar peg for currencies in the Gulf Arab countries had served the region well and any changes to the peg would be a sovereign matter.


    -- read full article
    Sun, 01 Jun 2008 05:47:20 GMT - Yahoo! News: Economy News
    Paulson says dollar peg has served Mideast well (Reuters)
    Reuters - U.S. Treasury Secretary Henry Paulson said on Saturday the dollar peg for currencies in the Gulf Arab countries had served the region well and any changes to the peg would be a sovereign matter. -- read full article
    Sat, 31 May 2008 16:41:20 GMT - Yahoo! News: Economy News
    Paulson says will work to improve housing bill (Reuters)

    Secretary of the Treasury Henry Paulson speaks at a news conference after a meeting of the G-7 finance ministers during the World Bank/IMF 2008 Spring Meetings in Washington April 11, 2008. Joshua Roberts/REUTERS (Reuters)Reuters - Treasury Secretary Henry Paulson said on Friday he has some problems with the housing rescue plan under consideration in the U.S. Senate, but will work to craft a bill that President George W. Bush can sign.


    -- read full article
    Fri, 30 May 2008 19:03:50 GMT - Yahoo! News: Economy News
    Gas prices inch closer to $4 while oil gyrates (AP)

    French Economy Minister Christine Lagarde, seen here on May 18, has written her counterparts in the top industrial powers urging the Group of Eight countries to call on oil producers to hike production, her office said Thursday.(AFP/File/Stephane de Sakutin)AP - Retail gas prices jumped a cent Friday to a new national average over $3.96 a gallon, putting them on a course to hit $4 by early next week. Oil futures, meanwhile, traded in a narrow range as investors tried to determine whether recent price declines were temporary.


    -- read full article
    Fri, 30 May 2008 19:36:07 GMT - Yahoo! News: Economy News
    Inflation outlook makes consumers' mood grim (Reuters)

    A shopper loads cartons of water onto his cart at the Costco Warehouse in Arlington, Virginia, May 29, 2008. (Molly Riley/Reuters)Reuters - U.S. consumer confidence fell to a 28-year low in May, a survey showed on Friday, as soaring prices for food and fuel soured sentiment and pushed long-term inflation expectations to the highest in more than a decade.


    -- read full article
    Fri, 30 May 2008 20:43:09 GMT - Yahoo! News: Economy News
    Bear's top economists won't join JPMorgan: source (Reuters)

    The wind blows the JPMorgan Chase flag outside its building in front of the Bear Stearns building across the street (C), in New York, March 17, 2008. (Chip East/Reuters)Reuters - Bear Stearns' two top economists, David Malpass and John Ryding, will not join JPMorgan Chase & Co, which is set to close its purchase of Bear, a source familiar with the situation said on Friday.


    -- read full article
    Fri, 30 May 2008 21:15:08 GMT - Yahoo! News: Economy News
    Think gas prices are high? Try $11 in Turkey (AP)

    Cars drive to a petrol station advertising: 'Low Prices', in Anglet, southwestern France, Wednesday, May, 28,  2008. Consumers, gas retailers and governments are wrestling with a new energy order, where rising oil prices play a larger role than ever in the daily lives of increasingly mobile world citizens. (AP Photo/Bob Edme)AP - Americans are shell-shocked at $4-a-gallon gas. But consider France, where a gallon of petrol runs nearly $10. Or Turkey, where it's more than $11.


    -- read full article
    Fri, 30 May 2008 23:22:22 GMT - Yahoo! News: Economy News
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