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Many U.S. retailers, large and small, have good reason to envy Sue Opeka — sales at her store have been up 15 percent for the past four months and she’s up 5 percent for the year so far.
Opeka’s store, The Present Moment, sells “affirmational and motivational” gifts such as placards lauding family and friends. […]
Filed under: money by Forest
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Homebuilders’ confidence in the housing market again plunged to a record low, dragged down by poor financial market conditions, rising unemployment and consumer anxiety, a trade group said Tuesday.
The National Association of Home Builders (NAHB)/Wells Fargo housing market index for November fell to a seasonally adjusted reading of 9, the lowest recorded level since […]
Filed under: finance by Forest
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A tentative settlement has been reached in contract talks covering nearly 21,000 Boeing Co. engineers, scientists and technical workers.
Negotiators for Boeing and the Society of Professional Engineering Employees in Aerospace announced the deal Friday. Union leaders will decide Friday evening whether to recommend approval.
Details were not immediately released.
Both sides have sought to avoid a […]
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Luxury homebuilder Toll Brothers Inc. said Tuesday fourth-quarter home building revenue dropped 41% as the financial crisis exacerbated ongoing weakness in the housing market.
Toll said preliminary home-building revenue declined to $691 million from $1.17 billion, while backlog slipped 54% to $1.33 billion from $2.85 billion.
Net signed contracts for the quarter also slid 27 percent […]
Filed under: technology by Forest
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Mounting economic gloom swept through Japan and several emerging nations on Monday and European banks bore the scars of the worst financial crisis since the 1930s.
Rating agency Fitch cut Romania’s credit rating to “junk” status in one of four emerging market downgrades and said the global financial crisis had put the ratings of South […]
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Panasonic and smaller Japanese rival Sanyo said Friday they are starting talks on a buyout deal that would create one of the world’s largest electronics companies as soon as year-end.
Panasonic President Fumio Ohtsubo and Sanyo President Seiichiro Sano shook hands at a news conference in Osaka, monitored by satellite TV in Tokyo, underlining their […]
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The Bank of England led European central banks in reducing borrowing costs to counter the worst financial crisis in almost a century, cutting its key rate by 1.5 percentage points to the lowest level since 1955.
The U.K. central bank reduced its benchmark rate by the most since 1992, taking it to 3 percent. […]
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Finance company GMAC LLC lost $2.52 billion in the third quarter, hurt by slumps in the housing and auto markets, and said its Residential Capital LLC mortgage unit may fail.
GMAC has been in the red for five straight quarters, losing $7.9 billion over that time. ResCap lost $1.91 billion in the third quarter, and […]
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Malaysia's government announced public projects worth 7 billion ringgit ($1.98 billion) to support economic expansion as it predicted the slowest growth in eight years in 2009.
Gross domestic product will expand 3.5 percent next year, Finance Minister Najib Razak said today in Kuala Lumpur, cutting an August forecast of 5.4 percent. The government will […]
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Europe's inflation rate declined to the lowest since January as the European Central Bank prepares to cut interest rates for the second time in less than a month in response to the financial and economic crisis.
Inflation in the euro area eased to 3.2 percent in October from 3.6 percent in September, the European […]
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