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Money & The Economy

News on Finance, Money, markets and the economy

Sixty-Nine Percent of Business Owners Do Not Plan on Hiring Within the Next Year

NEW YORK, Aug. 31, 2011 /PRNewswire/ — Newtek Business Services, NASDAQ: NEWT, The Small Business Authority’s Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of approximately 1,100 respondents, one of the key findings from the August survey was that 69 percent of small business owners do not plan on hiring.  Two other questions in ...

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National Suit Drive Helps Unemployed Americans Suit Up for Success

Men’s Wearhouse Fourth Annual National Suit Drive Collects over 80,000 Clothing Items for Job Seekers HOUSTON, Aug. 30, 2011 /PRNewswire/ — For the fourth year, Men’s Wearhouse has held a successful National Suit Drive, the country’s largest collection of gently used professional attire. The company devoted the month of August to encouraging patrons to transform their unwanted businesswear into a second chance ...

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AT&T to Bring 5,000 Call Center Jobs Back to U.S. Following T-Mobile Merger Closing

DALLAS, Aug. 30, 2011 /PRNewswire/ — AT&T Inc. (NYSE: T) today committed that after closing its proposed merger with T-Mobile USA, it will bring back 5,000 wireless call center jobs to the United States that today are outsourced to other countries. Today’s commitment results from AT&T developing detailed analysis focused specifically on identifying opportunities with the T-Mobile merger to bring good-paying wireless call center jobs ...

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Consumer Confidence Index Drops to Lowest Since April 2009

Indicative of a recession, the Conference Board’s consumer confidence index dropped to 44.5 vs. last months 59.2. That represents the lowest showing of consumer sentiment since spring of 2009. The number was heavily weighed down by a very poor showing in the forward-looking Expectations Index portion of the total score. This represents  Says Lynn Franco, Director of The Conference Board ...

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U.S. Economic Growth to Fall Sharply Due to Uncertain Policies

SAN FRANCISCO and LONDON, Aug. 26, 2011 /PRNewswire/ — Economic growth in the U.S. over the next 12 months is expected to decline to around 2.0 percent, significantly lower than the 3.1 percent predicted as late as June 2011, according to the proprietary macroeconomic model of Mellon Capital Management, part of BNY Mellon Asset Management.    The slower growth expectation is discussed in a recent ...

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Truck Tonnage Index Fell 1.3% in July

ARLINGTON, Va., Aug. 23, 2011 /PRNewswire-USNewswire/ — The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 1.3% in July after rising a revised 2.6% in June 2011. June’s increase was slightly less than the 2.8% ATA reported on July 26, 2011.  The latest pullback put the SA index at 114 (2000=100) in July, down from the June level of 115.5. ...

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July Durable Goods Orders Come in Better Than Expected

New orders for manufactured durable goods in July increased $7.7 billion or 4.0 percent to $201.5 billion, the U.S. Census Bureau announced today. The report showed a return from weakness mainly in automobiles and aircraft manufacturing. And some renewed weakness in the defense sector. Excluding transportation, new orders increased just 0.7 percent. Cars and auto parts grew a much more ...

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Fannie and Freddie: Dark Clouds Looming Over Near-Term Outlook

WASHINGTON, Aug. 22, 2011 /PRNewswire/ — The economy was hit by a barrage of disappointing news during the last month, which led to a significant downgrade in the overall macro economic forecast released today by Fannie Mae’s (OTC Bulletin Board: FNMA) Economics & Mortgage Market Analysis Group. While the August 2011 Economic Outlook does not forecast a double dip recession, the downgraded forecast reflects ...

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Markets in Free-fall After Catastrophic Economic News

The DOW opened today at 11,406.50 and at it’s lowest point as of noon, it had dropped more than 500 points to 10,881.6. Shocking the markets, the Philadelphia regional manufacturing index came in much worse than analysts had expected. A MarketWatch.com survey of economists had shown an expectation of .5, showing moderate growth. Instead, the index showed a steep decline in manufacturing output: -30.7 ...

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Conference Board Leading Economic Index Increases

NEW YORK, Aug. 18, 2011 /PRNewswire/ —  The Conference Board Leading Economic Index® (LEI)for the U.S. increased 0.5 percent in July to 115.8 (2004 = 100), following a 0.3 percent increase in June, and a 0.7 percent increase in May. The largest positive contributions came from money supply, the interest rate spread, and average weekly initial claims for unemployment insurance (inverted). Says Ataman Ozyildirim, ...

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Mortgage Rates Continue to Fall

CHARLOTTE, N.C. Aug. 17, 2011 /PRNewswire/ — Average mortgage rates continued to fall week-over-week, once again marking the year’s lowest levels according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network. On August 16, average home loan rates offered by LendingTree network lenders were 4.35% (4.59% APR) for 30-year fixed mortgages, 3.59% ...

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Consumer Spending Index Rises in July

NEW YORK, Aug. 12, 2011 /PRNewswire/ — Bolstered by a rise in home prices and a slight improvement in real wages, the Deloitte Consumer Spending Index rose in July for the first time since January. The Index tracks consumer cash flow as an indicator of future consumer spending. “The housing market is showing multiple signs of stabilizing and that is helping to ...

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Cities Respond to S&P Statement on Local Government Ratings

WASHINGTON, Aug. 9, 2011 /PRNewswire-USNewswire/ — The National League of Cities issued the following statement in response to Standard & Poor’s statement on municipal credit ratings: Standard & Poor’s announcement that cities and states may keep their AAA bond ratings despite the recent downgrade of the U.S. federal government demonstrates the difference between U.S. federal debt and the municipal bond market. Unlike ...

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Food Futures Slide Monday

During the mini-crash of August 2011, stories of a market slide and gold going through the roof were prevalent. What no one seemed to be talking about is food futures. September wheat dropped twenty two and a half cents per bushel to $6.57 and corn dropped 0.17 to $6.86 a bushel. Oats and soybeans also took significant drops as the ...

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Consumer Confidence Slides for Second Straight Month

NEW YORK, Aug. 4, 2011 /PRNewswire/ – Although Congress and President Obama have agreed to raise the debt ceiling, a majority of Americans say that the debate has made them less confident in the nation’s economic recovery. More than half (54 percent) of Americans surveyed say that the debt ceiling debate has made them feel less confident in the economy, and 42 ...

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