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Banking shares plummet on economic slowdown fears

Banking shares plummet on economic slowdown fears

New York (AFP) – Shares of large banks and other financial stocks were pummelled on Wall Street Monday as fears of a US economic slowdown heightened worries over deteriorating credit quality. US banks were broadly lower, but the hardest-hit included Bank … Continue reading at

Economic Tumult to Color Janet Yellen's House Testimony

When Federal Reserve Chairwoman Janet Yellen speaks publicly Wednesday for the first time in eight weeks, she'll assess a mixed economic landscape that has made officials more cautious about raising interest rates again next month. Ms. Yellen … Continue reading at

Economy Grows, Emissions Slow - But Who Gets the Credit?

Even as America’s economy has expanded 83 percent in the last 25 years, the amount of energy we’ve consumed has increased by just a fraction of that amount - fodder for Big Oil and environmentalists to each claim victory about the dueling roles of … Continue reading at

Personal Budget

Clinton Discusses Economy Ahead of NH Primary

Clinton Discusses Economy Ahead of NH Primary Democratic Presidential candidate Hillary Clinton discussed economic themes during a campaign stop in Hudson, New Hampshire, one day before the New Hampshire primary. (Feb. 9) Check out this story on USATODAY … Continue reading at

DCEDC View: Strauss headlines economic luncheon

How much will the U.S. economy grow during 2016? Will inflation increase or decrease? What will happen to the unemployment rate? How did the economy perform in 2015 and what caused it to perform the way it did? These questions and more will be addressed by … Continue reading at

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Personal Budget

The Economy, Ever a Risk in Election Years, Is Good So Far

But significant unease hangs over many facets of both the U.S. job market and the wider economy. Perhaps the biggest concern, highlighted daily on the campaign trail, is wages. The Friday jobs report brought good news on that front, with wages rising at an … Continue reading at

Obama's Budget Sees Next President Inheriting Healthy Economy

(Bloomberg) — The economic assumptions underlying President Barack Obama's proposed budget for the fiscal year starting Oct. 1 are fairly optimistic for the near term, although weaker than projections made in the mid-session review in July. The White … Continue reading at

US dollar to be blamed for economic slowdown: Reports

NEW YORK: While it is easy to blame the slowing of the US economy on foreigners, a recent article published by The Forbes has said that rise of the US dollar is the root cause. The US economy sharply slowed in the fourth quarter of 2015 with a mere 0.7 per … Continue reading at

Fact Check: Arizona Gov. Ducey gives misleading impression of California economy

“Information was harvested from the news media, company announcements … California ranked No. 3 in job growth from 2010 to 2014. The U.S. Bureau of Economic Analysis reported that California saw the number of jobs rise from 19.8 million to 22 million … Continue reading at

* Chinese shares tumbled more than 8 percent on Monday amid renewed fears about the outlook for the world’s second largest economy, reviving the specter of a full-blown market crash that prompted unprecedented government intervention earlier this month. The major indexes suffered their largest one-day drop since 2007. Teva Pharmaceuticals (TEVA) is buying Allergan’s (AGN) generic drug business in a .5 billion deal. Teva has also withdrawn its proposal to purchase Mylan Pharmaceuticals (MYL). Both boards approved the deal over the weekend. The buyout will turn Teva into one of the 10 biggest pharmaceutical companies in the world. Haemonetics (HAE) reported a loss for the quarter as revenue was down 5 percent. Durable Goods orders for June will be released. CarMax (KMX) is holding a meeting with analysts. A&P seeks permission from a bankruptcy court to close 25 stores. TheStreet’s Jane King reports from the Nasdaq Marketsite.

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