Economy & Finances
Worst of financial crisis is past
WASHINGTON - The credit crisis that has scorched international financial markets is on the wane but more shocks are ahead, US Secretary Treasury Henry Paulson told the Wall Street Journal in an interview published on Wednesday. "The worst is likely to be behind us," Paulson told the paper, in one of the most optomistic comments by a top US... more
Economy & Finances
Seven Reasons to Welcome a Recession
Recessions breed fear. It's only natural. A slowdown in production at companies can result in layoffs and restructuring. People fret about their jobs and worry that it will be much more difficult to find new employment if they are let go. These are understandable concerns. But for contrarians and bargain hunters, recessions provide a world... more
Economy & Finances
Oil hits new record as investors flee the falling dollar
Oil prices are surging to record highs as the weakening U.S. dollar drives investors to dump money into commodities. Light, sweet crude for May delivery rose 67 cents Wednesday to $114.46 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. On Tuesday, the contract had risen to $114.08. In London, Brent... more
Economy & Finances
Stop oil sales in dollars
TEHRAN, Iran - Iranian President Mahmoud Ahmadinejad is urging OPEC members to form a joint bank and stop pricing oil trades in U.S. dollars. According to the Iranian government's Web site, Ahmadinejad told OPEC Secretary General Abdalla Salem el-Badri the cartel "should establish a joint bank as well as having joint currency." Oil is... more
Economy & Finances
Americans should start seeing tax rebates in May
The first of more than 130 million economic stimulus payments from Washington are scheduled to be sent to Americans' mailboxes or bank accounts starting May 2, the IRS said Monday. The payments, expected to be issued through July 11, will be sent in numerical order based on the last two digits of the Social Security numbers used on tax... more
Economy & Finances
Recession fears rise on more job cuts
WASHINGTON - Employers unexpectedly cut jobs in February at the steepest rate in nearly five years, a second straight month of employment losses that heightened fears the world's largest economy has skidded into recession. "The question appears no longer to be are we going into a recession but how long and deep it will be," said economist... more
Economy & Finances
Americans lack money sense
Americans don't understand debt, which may be one reason that they have too much of it, according to a survey released Tuesday. The survey presented 1,000 people with a hypothetical scenario about credit card debt and asked them to compute how long it would take to pay it off. Only 35.9% of the 1,000 respondents could figure out how many... more
Economy & Finances
Oil steadies near $99 on US cold weather
SINGAPORE - Oil prices were steady Tuesday after rising in the previous session in a rally led by oil product futures rising on chilly weather in the United States. Cold weather across the U.S. Midwest and Northeast has helped push heating oil prices to fresh records, exerting an upward pull on crude markets. The surging demand is expected... more
Economy & Finances
Your cheating wallet will tell on you
According to a new survey by Yahoo! Finance and research firm Decipher, about half of people in serious relationships have committed some kind of financial deception. Their activities include lying about the actual cost of a purchase or hiding it from their partners; covertly running up credit card debt; or maintaining a secret savings stash. ... more
Economy & Finances
Oil steadies at $93 after slight rise
SINGAPORE - Oil prices were steady Thursday after rising moderately in the previous session, supported by Wall Street's overnight rise and threats to U.S. oil supplies. Wall Street rallied Wednesday after the U.S. Commerce Department said retail sales rose unexpectedly last month. Energy investors often view the equity market as a barometer... more
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