Tuesday, March 4, 2014
Americans spent more in January, but the increase came from a surge in spending on heating bills during the harsh winter. Spending in areas such as autos and clothing declined.
Sunday, March 2, 2014
Citigroup reduced its 2013 earnings by US$235 million on Friday, saying it was a victim of fraud committed by a Mexican oil services company to secure hundreds of millions of dollars in short-term loans.
Saturday, March 1, 2014
The U.S. economy grew at a 2.4 percent annual rate last quarter, sharper less than first thought, in part because consumers didn't spend as much as initially estimated.
Federal Reserve Chair Janet Yellen noted Thursday that recent economic data have pointed to weaker-than-expected gains in consumer spending and job growth. She said the Fed will be watching to see whether the slowdown proves only a temporary blip caused by severe winter weather.
Friday, February 28, 2014
Orders for long-lasting U.S. manufactured goods excluding transportation unexpectedly rose last month as did a gauge of business spending plans, but that will probably not change views that factory activity is slowing.
U.S. banks' earnings rose 17 percent in the October-December quarter from a year earlier, as losses on loans fell to a seven-year low and banks set aside less to cover losses as well as legal costs.
Thursday, February 27, 2014
U.S. President Barack Obama on Tuesday announced the creation of two Pentagon-led institutes to boost advanced high-tech manufacturing, with the eventual goal of creating jobs that have been lost to global competition.
Billions of dollars in U.S. taxes are going unpaid because Americans are exploiting Swiss bank accounts, and the U.S. government has failed to aggressively pursue Switzerland's second-largest bank, a Senate investigation has found.
U.S. consumer confidence fell slightly in February over concerns about the near-term outlook for business conditions and jobs.
Business economists are almost equally divided over whether the U.S. Federal Reserve will pare back bond purchases at the current pace through year's end or take a small break to let the economy recover further.