Economy
October retail sales post best showing since March
(AP)
AP - Retail sales, helped by strong demand for autos, increased in October by the largest amount in seven months. Read the rest of this entry »
Greece sees higher deficit after EU revises data
(AP)
AP - Greece expects the budget deficit in 2010 will be larger than initially targeted after the EU's statistics agency said Monday the country's debt last year was actually much higher than projected. Read the rest of this entry »
Retail sales jump on autos, building materials
(Reuters)
Reuters - Sales at U.S. retailers rose more than expected in October to post their largest gain in seven months, further evidence the economy was regaining strength. Read the rest of this entry »
Irish in crisis talks with EU nations, refuse aid
(AP)
AP - Debt-burdened Ireland is talking with other European Union governments about how to handle its troubled finances, officials said Monday as the continent's debt crisis plagued markets and policymakers across Europe. Read the rest of this entry »
Reasons to sit out GM’s initial stock offering
(AP)
AP - General Motors executives are playing up three bright spots in the company's future as they try to persuade investors to buy GM stock: a better lineup of cars and trucks, potential for global growth and a new cost structure that enables the compan... Read the rest of this entry »
Republican group to urge Fed to drop QE2: report
(Reuters)
Reuters - A group of Republican-leaning economists will launch a campaign this week calling on U.S. Federal Reserve Chairman Ben Bernanke to drop his plan to buy $600 billion more in Treasury bonds, the Wall Street Journal reported on Monday. Read the rest of this entry »
Lowe’s misses as shoppers put renovations on ice
(Reuters)
Reuters - Lowe's Cos missed quarterly sales estimates as U.S. shoppers put off expensive home renovations in a weak economy, prompting the company to forecast a full-year profit below Wall Street expectations. Read the rest of this entry »
UK PM Cameron says Britain still a world power
(AP)
AP - Britain can remain a world power despite the emergence of new economic titans like China, but only if it sorts out its economic problems, Prime Minister David Cameron says. Read the rest of this entry »
Ireland faces debt crisis talks, may seek bank aid
(Reuters)
Reuters - Aid would be available for Ireland's banking sector or the state itself, a top European policymaker said on Monday after a report suggested Dublin could seek money for its stricken banks from an EU emergency fund. Read the rest of this entry »
Debt panel head: Congress must ‘face up’ to issue
(AP)
AP - The co-chairman of President Barack Obama's deficit reduction commission says Congress has to "face up" to a red-ink problem that threatens America's future. Read the rest of this entry »