WASHINGTON (Reuters) – President Barack Obama wants to slash the ballooning deficit in half by 2013, U.S. officials said on Saturday, after massively increasing public spending to stem the worst economic crisis in decades.
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WASHINGTON (Reuters) – President Barack Obama wants to slash America’s ballooning deficit in half by 2013 by cutting spending on the Iraq war, eliminating wasteful public programs and raising taxes on the wealthy, an administration official said on Saturday.
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NEW YORK (Reuters) – Just as some credit markets begin to heal, fresh threats are gathering in little-noticed arenas where a host of U.S. companies pledge assets to secure business loans.
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WASHINGTON (Reuters) – U.S. employers expect increases in health care costs will stay at a steady 6 percent this year, twice the rate of inflation, according to a survey published on Thursday.
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WASHINGTON (Reuters) – The $7.2 billion slice of the $787 billion economic stimulus package set aside to spur investment in high-speed Internet may not live up to its full promise of job creation.
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TUCSON, Arizona (Reuters) – On a gritty corner in Tucson, Arizona, used tire store owner Andy Alexander says business is fine despite the economic downturn — and partly because of it.
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LOS ANGELES (Reuters) – Vermont-based groSolar has acquired the residential solar division of Borrego Solar Systems of El Cajon, California, the two companies announced on Thursday.
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NEW YORK (Reuters) – A record number of U.S. homeowners thought their homes had depreciated in value in February, according to a Reuters/University of Michigan survey published on Friday.
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WASHINGTON (Reuters) – The number of U.S. workers drawing unemployment aid jumped to a record high of nearly 5 million, the government said on Thursday, as a worsening economy made it increasingly hard to find jobs.
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NEW YORK (Reuters) – Mayor Michael Bloomberg, an ex-trader on Wall Street who became a billionaire entrepreneur, on Wednesday offered new incentives to tens of thousands of laid-off Wall Street workers to become entrepreneurs themselves.
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MESA, Arizona (Reuters) – U.S. President Barack Obama pledged up to $275 billion on Wednesday to help stem a wave of home foreclosures, part of a broad effort using massive sums of government money to push the country out of recession.
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NEW YORK (Reuters) – When times get hard in fashion, it’s not about who you know but who knows you.
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BANGALORE (Reuters) – Energy efficiency companies, which help businesses save on electricity bills, could see demand for their services rise as more firms look to cut costs in a recessionary environment.
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NEW YORK (Reuters) – Attorney Dick Dorsett, laid off a year ago, has recently started going to the office.
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– Deborah Cohen covers small business for Reuters.com. She can be reached at smallbusinessbigissues@yahoo.com –
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VISTA, California (Reuters) – Thousands of miles (kilometres) west of Detroit, a California start-up hopes to find a market for a three-wheeled, ultra-efficient, downright odd-looking car among consumers sick of spending their hard-earned cash at the gas pump.
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PHILADELPHIA (Reuters) – In 2001, Cristina Mariaca watched the dot-com bubble burst while working as an analyst at the Latin American unit of Internet giant AOL in Ft. Lauderdale, Florida.
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WASHINGTON (Reuters) – Leading U.S. business groups criticized Congress on Friday for including a ‘Buy American’ requirement in its $787 billion economic stimulus package, warning it would dilute the bill’s impact and invite other countries to keep American goods out of their stimulus programs.
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NEW YORK (Reuters) – A lack of detail in a U.S. plan to cleanse banks of toxic assets has left big money managers and private firms, including leveraged buyout funds and hedge funds, still skeptical about getting involved.
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NEW YORK (Reuters) – A majority of U.S. workers would pick a different career if they could choose over again, according to research released on Wednesday.
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NEW YORK (Reuters) – Midway Games Inc said it and its U.S. subsidiaries filed for Chapter 11 bankruptcy protection, saying it could not repay looming debt triggered by the sale of Sumner Redstone’s stake in the video game maker.
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CHICAGO (Reuters) – Sports fans, take solace. The U.S. economy may be collapsing but the prices of hot dogs, beer and other ballpark concessions are not likely to rise as fast as in the past, if at all.
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BANGALORE (Reuters) – Plummeting milk prices and rising demand for products catering to health-conscious Americans are sweetening the recession for Lifeway Foods Inc — the world’s largest supplier of yogurt-like dairy beverage kefir.
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WASHINGTON (Reuters) – Sales at U.S. retailers rebounded in January, government data showed on Thursday, likely boosted by post-holiday discounts and providing a rare glimmer of hope for the recession-hit economy.
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ST. PETERSBURG, Florida (Reuters) – You may have lost your job or home but you can still get a Valentine’s Day gift for your sweetheart, thanks to a Florida jewelry store.
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ROME (Reuters) – Italian luxury bag maker Furla has won clients from higher-end brands in a sign “affordable luxury” companies are weathering the global downturn better than most, its chairman said.
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LOS ANGELES (Reuters) – Electric car start-up Tesla Motors Inc on Wednesday said it should be profitable by the middle of this year and that it sold out of its Roadster sports car model until early November.
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– Deborah Cohen covers small business for Reuters.com. She can be reached at smallbusinessbigissues@yahoo.com –
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NEW YORK (Reuters) – The big man with little dreadlocks aimed his camera at two Imperial Storm troopers. “Say ‘Death Star!’” he ordered.
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WASHINGTON (Reuters) – Confidence among U.S. small business owners dropped to the second-lowest level on record in January, suggesting the year-long recession could last until the second quarter of the year, according to a survey released on Tuesday.
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SANTIAGO (Reuters) – With home sales plunging as the global financial crisis chokes domestic demand, Chilean real estate companies are offering apartments at what they say are cost prices at night — and even picking up buyers’ air fares as an incentive.
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LOS ANGELES (Reuters) – Restaurant bankruptcies are expected to rise in 2009, but some debt-riddled operators are getting more leeway with lenders on hope a government stimulus package could provide relief by mid-year.
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NEW YORK (Reuters) – Hedonism is out in the travel business and “recession chic” is in, according to experts at a travel show in New York where customers were looking for bargains to brighten the gloom.
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(Reuters) – Bruno’s Supermarkets LLC said on Friday that an Alabama court approved its $4 million debtor-in-possession financing from Regions Bank, a day after the company filed for bankruptcy protection under Chapter 11.
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NEW YORK (Reuters) – One of the earliest hints that the U.S. jobs market is turning the corner may come from the corner shop.
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NEW YORK (Reuters) – Retailers that are positioning their business to weather a downturn of only six to 12 months underestimate the time it will take to show a real recovery, according to retail industry veteran Allen Questrom.
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CHICAGO (Reuters) – The largest U.S. retail trade group said current economic stimulus legislation might not do enough to spur consumer spending and repeated its call for a series of temporary sales tax holidays.
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PARIS (Reuters) – Free designer dresses, an army of admirers and $15,000 to stroll down a catwalk: no wonder thousands of teenage girls aspire to being a top model.
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MILAN (Reuters) – Kitchen creativity is a better way to beat the credit crunch in the restaurant industry than cutting costs with cheaper ingredients, top chefs say.
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NEW YORK (Reuters) – The U.S. economy is hemorrhaging jobs and may not stop bleeding for at least another year, even if the government acts quickly to stimulate the economy, according to reports released on Wednesday.
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NEW YORK (Reuters) – Solar power system installer Borrego Solar Systems Inc said on Wednesday it secured $14 million to help expand its business into the Mid-Atlantic region and develop lower cost systems.
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BANGALORE (Reuters) – Bad credit? Need money now? Just grab that electric guitar in the corner and head for a pawn shop. Cash-strapped consumers are swapping jewelry, music systems and electronic gadgets for cash like never before.
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CINCINNATI (Reuters) – With layoffs happening all around her, automotive worker Ellen Whittington is doing what many worried Americans are doing: trying to find a safer, better job before she loses the one she has.
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LONDON (Reuters) – A London restaurant has decided to do away with bills for the next month, asking customers to pay only what they want for meals in an unorthodox bid to beat the credit crunch.
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LONDON (Reuters) – “How about McDonald’s for lunch?” Only a year ago top London restaurants buzzed with high-earning bankers but the money-saving quip from one financial recruiter sums up the new mood of austerity.
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LONDON (Reuters) – A heavy snow storm that brought havoc to the UK will cost the country’s already recession-hit economy up to 3.5 billion pounds ($5 billion) according to Britain’s Federation of Small Businesses (FSB) Tuesday.
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SAN FRANCISCO (Reuters) – E-commerce in the United States is expected to climb back to last year’s levels by 2010 after experiencing slowing growth in 2009 due to the recession, a research group said on Monday.
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CHICAGO (Reuters) – For life to improve for America’s battered truck sector, one of two things must happen: Either the U.S. economy needs to rebound or more companies need to fail for truck supply to shrink to meet demand.
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NEW YORK (Reuters) – Most major U.S. companies have an ethics officer, but as investors survey the wreckage of a deepening financial crisis that has exposed behavior ranging from risky to downright illegal, one might ask “What were they doing?”
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