June 2010 Headlines

A Moral Debate: Why Capitalism is Best for America

Many are used to seeing abortion or gay marriage as moral issues - but not economics. Economic expert Arthur C. Brooks says it's time to change that.

FaithShares: Investing with Biblical Values

Many believers are making a greater effort to invest their money in funds that reflect their Christian values and the group 'Faith Shares' helps them do just that.

Ford Motor to Repay $4B More in Debt

Ford Motor Co. says it's making another $4 billion payment on its huge debt.

House Rejects Extension of Unemployment Benefits

With Republicans citing concerns about the growing national debt, the House rejected a bill Tuesday to extend unemployment benefits.

Stocks Slide on Renewed Fears of Global Slowdown

Stocks and interest rates tumbled Tuesday after signs of a slowing global economy spooked traders.

Americans Spend More in May, See Incomes Rise

Americans spent a little more in May but not enough to speed along the economic recovery.

Gov't Plans to Double Available Wireless Spectrum

The Obama administration has announced plans to double the amount of available wireless communications in the next 10 years.

Author: U.S. Welfare State Beyond its Limits

William Voegeli, author of the book 'Never Enough: America's Limitless Welfare State,' says the U.S. can't sustain the amount of government spending today.

G-20, G-8 Summits Underway in Canada

One of the main goals of the conferences is to develop ways to keep the global economy from slipping back into a recession.

Bank Bill a Sweeping Overhaul of Wall Street

Lawmakers in Congress have agreed on the most ambitious overhaul of rules overseeing Wall Street since the Great Depression.

Jobless Claims Drop but Remain at Elevated Levels

Initial claims for jobless benefits fell by the largest amount in two months last week, but remain above levels consistent with healthy job growth.

Tax Credits Gone, New-Home Sales Tank

Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record.

Fed to Keep Rates Low to Support Weak Recovery

The Federal Reserve is sure to leave interest rates at record lows and is likely to repeat a pledge to keep them there for a while.

Health Reform Costs Hit Walgreen Fiscal 3Q Profit

Walgreen Co., the biggest U.S. drugstore chain, says its profit sank 11 percent in the fiscal third quarter because of health care reform expenses.

More Borrowers Exit Obama Mortgage Help Plan

A growing number of homeowners who sought help from the Obama administration's main mortgage aid program are in danger of losing their homes.

World Markets Rise as China Allows Yuan Gain

Stock markets around the world were rising on news that China would no longer peg its currency against the value of the U.S. dollar.

Obama Tells G-20 Nations to Seal Economic Recovery

President Barack Obama is appealing to the world's major economies not to waver in their efforts to support a sustained rebound from the near collapse of the global economic system in the fall of 2008.

China Says G-20 Wrong Place to Discuss Yuan Issue

China's President Hu Jintao will attend next week's G-20 meeting in Toronto but does not want to discuss China's exchange rate policy.

Consumer Prices Dip Again -- Break for Shoppers

Consumer prices fell for the second straight month, extending a break for Americans' pocketbooks.

New Claims for Jobless Benefits Rise Sharply

The number of people filing new claims for jobless benefits jumped last week after three straight declines.

Apple, AT&T Hit With Glitches on New iPhone Orders

Buyers reported problems registering their orders and an apparent glitch in AT&T's website was steering some customers into strangers' accounts.

Fed Adopts Credit Card Rules to Protect Consumers

A new set of credit card rules, adopted Tuesday by the Federal Reserve, were designed to protect users from lofty penalty fees.

Homebuilders Less Confident in Housing Market

Homebuilders are losing confidence in the housing market now that government incentives that spurred home sales have ended.

Pickup Sales Picking Up and Economy Hitches a Ride

Americans bought 151,000 pickups last month, 19 percent more than a year ago.

Gov't Ends Paper Checks, Starts Direct Deposit

The Obama administration has ordered the government to stop mailing paper checks and to instead make direct deposits.

U.S. Debt Could Reach $19.6 Trillion by 2015

A new report says the U.S. government could soon face a total debt of nearly $20 trillion.

Fed Chief: Gov't Budget on 'Unsustainable Path'

In testimony on Capitol Hill, Federal Reserve Chairman Ben Bernanke said the U.S. has to do something to get its deficits under control.

New Jobless Claims Dip for Third Straight Week

New claims for jobless benefits fell for the third straight week but remain elevated, suggesting the labor market is still sluggish.

Investors Abandon Paper Currencies for Gold

With governments from Europe to America piling up debt, investors have been getting out of paper currencies and moving into gold.

Philanthropy Declines 3.6 Percent in 2009

The Giving USA Foundation survey shows that giving dropped by 3.6 percent last year.

Britain Braces for Major Budget Cuts

Britain's new Prime Minister David Cameron says British finances are in even worse shape than he realized.

Survey: Euro's Future Looks Bleak

A group of leading economists has warned that the euro may not survive much longer, according to a survey by the London Sunday Telegraph.

Economy Sees Another Month of Job Growth, But...

A wave of census hiring lifted payrolls by 431,000 in May, but job creation by private companies grew at the slowest pace since the start of the year.

First-Time Jobless Claims Drop for Second Week

New claims for unemployment insurance fell for the second straight week, fresh evidence the job market is slowly improving.

Retailers' Reports Show Tepid May for Shoppers

Americans, uninspired by cool weather and feeling fresh concerns about the economy, spent with caution in May after a tepid April.

Oil Near $72 as Economy Concerns Drag on Optimism

Oil prices slipped to near $72 a barrel Wednesday as flagging investor optimism about the global economy dragged down stocks and commodities.

Good News for Drivers: Gas Prices Can Fall More

Gasoline prices dropped on Tuesday for the 26th straight day as lower oil prices continued to flow to the nation's drivers.

Hewlett-Packard to Cut 9K Jobs; See $1B in Charges

Hewlett-Packard Co. said Tuesday it will cut about 9,000 jobs and take $1 billion in charges over three years as it creates fully automated commercial data centers.

Will Governments' Debt Jeopardize Global Economy?

Europe's ballooning debt puts the world economic recovery in jeopardy, with the risk of slipping into a double dip recession.