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- Disney earnings beat despite shaky economy
(Reuters)
Reuters - Walt Disney Co's quarterly revenue fell short of Wall Street's expectations after the movie studio put in a poor showing, but profit grew at a faster-than-expected 12 percent clip as media networks and theme parks held strong in an uncertain economy. - No cigar: Economic embargo on Cuba turns 50
(AP)
AP - When it started, American teenagers were doing The Twist. The United States had yet to put a man into orbit around the Earth. And a first-class U.S. postage stamp cost 4 cents.
- Dow approaches 13,000, and maybe a record to come
(AP)
AP - It was just last summer that the Dow Jones industrial average shed 2,000 points in three terrifying weeks. Investors had a host of things to worry about, including the possibility of another recession.
- Bernanke: Job market remains weak despite gains
(AP)
AP - Ben Bernanke says the job market isn't as strong as the steadily declining unemployment rate might suggest.
- Report: Silicon Valley sees growth in jobs, wealth
(AP)
AP - Silicon Valley is creating jobs and wealth for highly skilled workers but may be leaving some residents behind as employment closes in on pre-Great Recession levels, according to a report released Tuesday. - Bernanke urges Congress to address Bush tax cuts
(Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke on Tuesday warned Congress that putting off a decision on the fate of expiring Bush administration tax cuts could unsettle businesses and households, undercutting the U.S. economic recovery. - Bernanke repeats vow to shield U.S. from Europe fallout
(Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke on Tuesday renewed a pledge to prevent Europe's financial crisis from damaging the U.S. economy in testimony before Congress that mirrored remarks he made last week. - Job openings rise to 3.4 million in December
(Reuters)
Reuters - The number of jobs waiting to be filled rose in December as employers tried to ramp up hiring in factories, retail and business services, the government said on Tuesday. - New US sanctions on Iran aim to head off Israel
(AP)
AP - Additional U.S. sanctions on Iran are more significant for their timing than their immediate effect on Iran's economy, coming as the United States and its allies are arguing that Israel should hold off on any military strike on Iranian nuclear facilities to allow more time for sanctions to work.
- World watches as China economic leaders take stage
(Reuters)
Reuters - A new guessing game is about to begin: will China's incoming generation of leaders show more courage than the current incumbents in tackling deep economic imbalances that threaten to bring growth to a sudden stop? - Bernanke's testimony on economy to Senate panel
(Reuters)
Reuters - Below are highlights from Federal Reserve Chairman Ben Bernanke's testimony on Tuesday on the state of the U.S. economy to the Senate Budget Committee. Bernanke's prepared testimony was virtually identical to testimony on Thursday to the House Budget Committee.
- Global watchdog official says banking reforms must proceed
(Reuters)
Reuters - The underperforming global economy should not be allowed to delay financial system reforms, a senior official at the Financial Stability Board (FSB), a global watchdog set up by the Group of 20 nations, said on Tuesday, adding that the FSB will propose new rules on so-called shadow banking by year-end. - U.S. Companies 'Yammer' for a Productivity Revolution
(ContributorNetwork)
ContributorNetwork - SAN FRANCISCO -- In a pleasant surprise, the Department of Labor has reported an another increase in total nonfarm employment. The U.S. added 243,000 jobs in January, ticking the unemployment rate to 8.3 percent. - PIMCO'S El-Erian favors long-duration bonds, gold and oil
(Reuters)
Reuters - Given the state of the global economy, investors should be underweight equities while favoring selected commodities such as gold and oil for the geopolitical risk, Mohamed El-Erian, CEO and co-chief investment officer of bond fund giant PIMCO, told CNBC on Tuesday. - Government health spending seen hitting $1.8 trillion
(Reuters)
Reuters - Government spending for Medicare, Medicaid and other healthcare programs will more than double over the next decade to $1.8 trillion, or 7.3 percent of the country's total economic output, congressional researchers said on Tuesday. - German industrial output down 2.9 pct in December
(AP)
AP - German industrial production fell 2.9 percent in December from the month before, according to official data released Tuesday, suggesting the country's economic slowdown could be worse than expected. - UBS warns of poor Q1 as investment bank struggles
(Reuters)
Reuters - Swiss bank UBS predicted further weakness in investment banking after a restructuring of the business failed to prevent an earnings hit from the euro zone debt crisis and worries about the global economy. - Walmart names ex-Woolworths veteran as new China CEO
(Reuters)
Reuters - Wal-Mart Stores Inc has named an industry veteran, but a relative newcomer to China, to run what is a strategically crucial business for the world's biggest retailer as it faces tougher competition in the fastest growing major economy. - German industrial output sees biggest fall since 2009
(Reuters)
Reuters - German industrial output posted its biggest fall in December since the depth of the financial crisis at the start of 2009, the Economy Ministry said on Tuesday, underperforming forecasts by a wide margin. - President's Economic Influence Isn't Limited -- Obama Just Misuses It
(ContributorNetwork)
ContributorNetwork - COMMENTARY | Some would have us believe the president plays a much smaller role in determining what our economy does than most people believe. I think Americans believe the president has a lot of actual power to correct the economy, and that assumption is incorrect. But many chief executives have used the Oval Office to manipulate change and foster growth that isn't specifically empowered to the presidency. could not open XML input
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