Shweta Gupta knows exactly what kind of groom she wants: he should be educated, well settled and live in a good location --- one that must be in India.
States are poised to pass as much as $24 billion in tax and fee hikes in coming weeks, as they struggle to balance their budgets amid the worst economic downturn since the Great Depression, a report released Thursday found.
Question: I believe that along with a recession comes a great opportunity to invest and make significant long-term gains. I'm under 30, I contribute to my 401(k) plan and I'm willing to take risks. What are my best options in today's market? --Lyle, Fort Lauderdale, Florida
The U.S. economy shrank at an annual pace of 6.1% in the first quarter -- almost as much as it did in the fourth quarter of 2008, according to a government report Wednesday.
Big tech firms from IBM to Microsoft reported less-than-stellar financial results this week -- but there were pockets of optimism and most companies expect the end of 2009 to look much brighter.
Unemployment at a 25-year high. Housing prices continuing to fall. Corporate titans such as General Motors on the brink of bankruptcy. There's no lack of bad economic news.
Shweta Gupta knows exactly what kind of groom she wants: he should be educated, well settled and live in a good location --- one that must be in India.
States are poised to pass as much as $24 billion in tax and fee hikes in coming weeks, as they struggle to balance their budgets amid the worst economic downturn since the Great Depression, a report released Thursday found.
Question: I believe that along with a recession comes a great opportunity to invest and make significant long-term gains. I'm under 30, I contribute to my 401(k) plan and I'm willing to take risks. What are my best options in today's market? --Lyle, Fort Lauderdale, Florida
The U.S. economy shrank at an annual pace of 6.1% in the first quarter -- almost as much as it did in the fourth quarter of 2008, according to a government report Wednesday.
Big tech firms from IBM to Microsoft reported less-than-stellar financial results this week -- but there were pockets of optimism and most companies expect the end of 2009 to look much brighter.
Unemployment at a 25-year high. Housing prices continuing to fall. Corporate titans such as General Motors on the brink of bankruptcy. There's no lack of bad economic news.
Is the current downturn merely a severe slump, or are we facing a second coming of the Great Depression? That's the question everyone is asking these days. But Ray Dalio, founder of Bridgewater Associates and manager of what is now the world's biggest hedge fund, has been preparing to answer it for eight years.
It is axiomatic that to solve a problem, one must first understand it. To that end, I have devoted my spare time in recent months to studying our financial crisis - unearthing its root causes, delving into its manifold consequences and pondering its far-reaching implications.
President Obama currently has the polls on his side. In numerous surveys, Americans have said they are pleased with Obama's performance thus far and confident the president can fix the economy, acknowledging this will take some time.
Ever since Joseph decoded Pharaoh's dream about fat cows and thin ones and delivered his policy response - save in the fat years to survive in the lean times - consumers have followed that model.
A debate is brewing at home and abroad over an economic stimulus measure that would require materials used in the program's infrastructure projects to be purchased from American companies.
Stocks managed gains Monday, ending a volatile session higher, as investors looked beyond massive job cuts at Caterpillar and Home Depot among others and opted to scoop up stocks hit in last week's selloff.
For businesses, competing in a downturn is a lot like being in the wild, wild West at the end of a gold rush. Once the lode dries up, you have to be resourceful to survive and thrive.
Unemployment rates rose in 37 states and the District of Columbia in November as the recession hammered nearly every job sector, according to a government report released Friday.
A selloff on Wall Street accelerated in the last hour of a volatile session as traders square up positions for a handful of options that expire Friday, known as "quadruple witching."
In the midst of a recession, huge job losses are expected to continue for at least several more months. But what really worries economists is that the job market could be slow to recover even when the economy begins to improve.
More than four out of 10 Americans say the economy is in a serious recession, a belief that has grown stronger within the past few weeks, according to a poll released Thursday.
Well, now it's official: we're in a recession. And we know when it began: December 2007, according to the official arbiter of business cycles, the National Bureau of Economic Research (NBER), which made the announcement Monday. So now the question is: when will it end, and how deep will it get?
Australia's economic growth slowed to 0.1 percent in the third quarter of 2008, its slowest rate in nearly a decade, according to government figures released Wednesday.
The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .
Stocks slipped in a volatile session Monday, as investors eyed Citigroup's massive job losses and a weak manufacturing report, while awaiting the fate of a potential bailout for the automakers.
The dollar ticked lower against major European currencies Monday after the weekend's G-20 economic summit in Washington failed to impress currency investors.
Oil fell on Monday and ended at a 21-month low as fears over the global economic slowdown accelerated on news that Japan officially fell into a recession.
The 15 countries that share the single European currency are in recession for the first time in the 10-year history of the eurozone, according to initial estimates the European Union said Friday.
Turnout for the international tourism industry's most important event is at a record high this year as the sector struggles to cope with the financial crisis sweeping the world.
Stocks slumped Monday, as ongoing recession fears overshadowed any relief about China's $586 billion stimulus plan and the government's revamping of its deal with AIG.
Nearly 1.2 million jobs have been lost this year. The unemployment rate is at its highest level since 1994. Retail sales were dismal last month and for automakers, October was the worst month in more than a quarter-century.
Recessions bring layoffs. This we know. Economists predict that the current unemployment rate of 6.5%, already the highest since 1994, will max out at 7% or 8% by the end of 2009. The nation hasn't seen levels like those in nearly two decades.
Memories of salvaging and stealing to avoid going hungry are part of the legacy of the Great Depression. Some iReporters say they can't help but look at the current economy and feel the past holds lessons for the present.
In the face of what's arguably the darkest economic outlook since the Great Depression, voters say the economy was overwhelmingly the most important issue in this historic election, and was clearly an advantage to President-elect Barack Obama.
Well, we were partly right. At this time last year, we said that the stock market would be increasingly volatile in 2008, that home prices would fall further and that a subprime blowup could propel the economy downward.
The nation's economy slammed into reverse in the third quarter and suffered its biggest decline in seven years, according to a government report Thursday.
The recent trend of loosening credit stalled Thursday as lenders took a breather, a day after dismal corporate results renewed fears of a global recession.
The financial crisis has grabbed the attention of voters less than two weeks before the presidential election, but the real trouble - a deep recession - will linger long after the race for the White House ends. Here are some considerations to keep in mind.
British Prime Minister Gordon Brown acknowledged for the first
time Wednesday that the world economic downturn is likely to cause a
recession in the United Kingdom
British Prime Minister Gordon Brown said Wednesday that the global financial crisis was pushing his country and other major world economies towards recession.
The worst financial crisis in decades is slowing China's industrial boom, officials said Monday, as gloomy news from other nations deepened worries about a global recession.
Wall Street rallied Thursday, finding momentum toward the end of a volatile session, as the lowest oil prices in more than a year gave investors a reason to scoop up shares battered in the recent market selloff.
San Francisco Federal Reserve Bank President Janet Yellen has acknowledged what most economists have said, but few Fed officials would speak before now, using the word "recession" in commenting on the U.S. economy.
The governments of the United States and other economic heavyweights must take decisive action to avoid worldwide economic disaster, two economic experts said Friday.
Expect nothing but volatility for oil prices over the next year or two - with the fate of the global economy largely dictating whether crude will fall to $50 or shoot up to $150 a barrel.
Even if the Bush administration's $700 billion bailout works, the United States still faces the longest and most severe economic stretch since the Great Depression, according to one economist.
Wall Street has been holding its breath since mid-July due to fears about the fate of Fannie Mae and Freddie Mac. Today, investors finally exhaled and started buying.
Stocks ended mixed Friday after a tough session and week, as a rally in the hard-hit financial sector countered amplified recession fears that were sparked by a weak labor market report.
Stocks plummeted Thursday, with the Dow plunging around 345 points as mixed retail sales, lower oil prices and dour labor market readings amplified worries about a global economic slowdown.
Are we in a recession or not? And if we are, when did it begin? I don't know about you, but I'm tired of the recession debate. Does it really matter if this current economic period ever (or never) gets labeled a recession?
Stocks surged Friday, at the end of a tough week, as investors welcomed lower oil prices, a stronger dollar, a rebound in bank shares and comments from Fed Chairman Ben Bernanke that cooled some inflationary worries.
Billionaire investor Warren Buffett said Friday the economy continues to be in a recession, by his definition, and will continue to be for at least several more months
The release of U.S. retail sales and oil's turn up didn't halt dollar momentum Wednesday, and the rout of the British pound continued amid England's economic woes
The Federal Reserve left a key short-term interest rate unchanged Tuesday and cited both the risk of a slowing economy and inflation pressures, a sign that the central bank may keep rates steady for the next few months.
The good news: The economy is not as bad as it was in the early 1980s, when unemployment hit 10% and the inflation rate touched the double digits. The bad news: A lot of small business owners think it is.
Former Republican Sen. Phil Gramm said Friday that he is stepping down as co-chairman of Sen. John McCain's presidential campaign amid criticism for saying last week that "we have sort of become a nation of whiners."
The Internal Revenue Service mailed out the last of 112 million stimulus checks on Friday to people who filed their tax returns by April 15. A total of $92 billion has been pumped into the nation's sagging economy since last April.
Phil Gramm, a top adviser to Sen. John McCain, on Thursday stood by his comment that the country is in a "mental recession," and said he was trying to say the nation's leaders, not its people, were "whiners."
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