Bernanke: Recovery Later This Year
Federal Reserve Chairman Ben Bernanke said Tuesday in prepared testimony that the economy is showing some signs of stabilizing and is likely to rebound later this year, and that the rate of inflation should stay…
Mary Tomkins
Mary Tomkins is a freelance writer located in Spartanburg, SC, with emphasis on economic news and research on the financial industry.
Obama Announces $17 Billion in Budget Cuts
President Obama outlined his $3.6 trillion budget for 2010 today and addressed that his administration has found 121 programs that can be reduced or eliminated to save American taxpayers nearly $17 billion next year alone.…
Tax Havens Targeted by Obama
Today President Obama and Treasury Secretary Timothy Geithner unveiled a plan to curb tax havens, and replace the tax advantages that encourage businesses to shift jobs overseas with incentives for creating those jobs here at…
Initial Jobless Claims Decrease for Last Week
The number of people who filed for unemployment insurance benefits for the first time dropped for the week ending April 25, according to a report released by the Labor Department on Thursday. Last week in…
Tips on Avoiding Foreclosure
Getting behind on your house payments is a tough situation. It’s best to tackle the problem before it get too far out of hand and your lender forecloses on your home. Take steps to try…
Consumer Confidence Rises Dramatically
Despite concerns over the swine-flu outbreak, the markets reacted positively to a report that signals the public’s pessimism about the economy may be easing. Consumer confidence had its biggest one-month jump in four years, from…
GM Announces Aggressive Plan to Avoid Bankruptcy
Struggling auto giant General Motors announced a plan on Monday to exchange 225 shares of common stock for every $1000 of outstanding notes in an effort to reduce its debt costs – “a vital component…
Be Aware of Internet Business Scams
At the request of the Federal Trade Commission (FTC), a federal court imposed a judgement of $18.9 million against operators of an internet business opportunity scam. The federal court found the scam operators violated the…
New Home Sales Drop Less Than Expected
Numbers released by the government on Friday on new-construction home sales indicate that the U.S. housing market may be nearing a turnaround. Sales of new single family homes in March 2009 were a seasonally-adjusted annually…
Jobless Claims Up, Home Sales Down
The Labor Department reported on Thursday that jobless claims for the week ending April 18 rose to 640,000, up by 27,000 from the previous week’s revised figure of 613,000. The four-week moving average – which…