Economy News
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Obama, Boehner talk; Geithner prepared to go off "cliff"
WASHINGTON - Republicans in Congress and President Barack Obama consumed much of Wednesday talking up their positions on the "fiscal cliff" and though Obama and Republican House Speaker John Boehner spoke by phone, neither side offered any new compromises in public. | Video
Planned layoffs rise for third month in November: Challenger
NEW YORK - Planned layoffs at U.S. firms rose for the third month in a row in November, partly driven by the bankruptcy of Hostess Brands, a report showed on Thursday.
Republicans say, "No way" to ceding debt limit power
WASHINGTON - Republican lawmakers took a firm stand on Wednesday against an Obama administration proposal that would make it easier for the president to increase the nation's debt limit, worried it would undercut their leverage to cut government spending.
Storm hits hiring in November but service sector grows
NEW YORK - Private-sector hiring took a hit in November due to the impact of storm Sandy on the northeastern United States but the country's huge services sector continued to expand.
After months of delay, Pentagon told to plan for "fiscal cliff"
WASHINGTON - The Pentagon said on Wednesday the White House budget office has directed it to begin planning how to implement billions of dollars in across-the-board spending reductions if Congress and the president fail to agree to avert the cuts before January 2.
House committee purge may continue as Boehner tightens grip
WASHINGTON - U.S. House of Representatives Speaker John Boehner's purge of some dissident Republican congressmen from key committees may continue as he seeks to tighten control over his unruly caucus ahead of difficult votes on "fiscal cliff" issues.
Republicans weigh swallowing tax hike on the wealthy
WASHINGTON - While Republican leaders in the House of Representatives insist that raising tax rates on the rich is an impossibility, some Republican lawmakers now see it as inevitable to avoiding the "fiscal cliff" of severe tax hikes and spending cuts set to start January 1.
Private sector adds fewer-than-expected jobs in November: ADP
NEW YORK - Private-sector employers added 118,000 jobs in November, shy of economists' expectations, a report by a payrolls processor showed on Wednesday.
Service sector grows in November: ISM survey
NEW YORK - The pace of growth in the U.S. services sector increased slightly in November as a rise in new orders and business activity helped offset a fall in employment and prices, according to an industry report released on Wednesday.
Productivity fastest in two years, labor costs subdued
WASHINGTON - Nonfarm productivity increased at a much faster clip than initially thought in the third quarter as businesses held the line on hiring even as output surged, with unit labor costs falling at their fastest pace in almost a year.
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Would you recognize Fed ‘easing’ if you saw it?
Market expecting pretty substantial boost in accommodation, but not calling it easing
Loblaw to create one of Canada's largest REITs
Dec 6 - Loblaw Companies Ltd, Canada's largest grocer, said on Thursday it plans to create a real estate investment trust to acquire a significant portion of Loblaw's real estate assets, a move that potentially unlocks additional value for shareholders.
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