July 2010 Headlines

Oil Near $82 after Surging to 3-month High

Oil prices are on the rise again.  On Tuesday, the price per barrel neared $82 after surging stock markets and a weak dollar helped boost crude to a three-month high.

Columnist Dissects White House Econ Policies

The Congressional Budget Office is warning that the government's rapidly growing debt is the largest since World War II.

Recession Was Deeper Than Gov't Had Expected

The economy slowed down in the second quarter of this year, growing at a 2.4 percent annual rate, according to the Commerce Department.

Initial Jobless Claims Drop to 457,000

The Labor Department said Thursday that first-time claims for unemployment insurance dropped by 11,000 to a seasonally adjusted 457,000.

U.S. Home Ownership Falls to Lowest in Decade

Home foreclosures have soared across the country, causing ownership to hit the lowest levels in a decade.

Environment Friendly Chevy Volt Priced at $41K

Driving a vehicle that does not use gasoline to help the environment isn't going to be cheap - at least at first.

China Bank Official: Flexible Yuan Fights Inflation

A high-ranking Chinese bank official on Monday raised the idea of moving away from the U.S. dollar as the benchmark for his country's foreign exchange rate.

Christian Financial Advisor: You Can Build Wealth

Christian financial advisor Rodney Ballance discusses investment strategies you can do.

Reports Show Economic Recovery Slow Going

Troubles in the housing market and rising unemployment claims continue to stunt economic recovery.

Walmart Turns to 'Smart Tags' to Track Inventory

Some privacy advocates have concerns. Even though the tags can be removed from clothing, they can't be turned off.

Ford Posts Another Quarterly Profit as Sales Climb

Ford Motor Co. posted a strong second-quarter profit Friday but trimmed its U.S. sales forecast and predicted weaker results in the second half as the economy slowly recovers.

Windows 7 Sales Boost Microsoft 4Q

Microsoft Corp. said its net income surged in the most recent quarter, the latest sign that businesses are again spending on technology.

Financial Overhaul Signed into Law

Two years after the financial meltdown that led to the recession, President Obama signed reforms into law he says will protect consumers.

Bernanke: Economic Outlook 'Unusually Uncertain'

The Federal Reserve is ready to take new actions to keep the economic recovery alive.

Will Financial Regs Hurt or Help Businesses?

The president hailed the new financial overhaul as the solution to the nation's economic woes. But some business leaders and lawmakers have said it's the problem.

House Vote Will Extend Jobless Benefits

The bill provides funding for 2.5 million jobless Americans whose unemployment benefits have been exhausted after six months.

WH Mortgage Aid Program Still Losing Homeowners

More people have dropped out of President Obama's mortgage aid program, with July being the second straight month of plunging enrollment.

At Amazon, E-books Outsell Hardbacks

A recent sales report from Amazon.com indicates hard bound books may be becoming a thing of the past.

Cocoa Bean Purchase Pushes Price to Record High

The price of chocolate is on the rise after a large British hedge fund purchased a massive amount of the world's cocoa beans.

Delta Posts $467M Profit in 2nd Quarter

Delta Air Lines Inc. reported its largest quarterly profit in a decade Monday thanks to strong passenger revenue.

Bank of America Earns $2.78B in 2nd Quarter

Bank of America said Friday its second-quarter net income rose 15 percent to $2.78 billion.

Goldman Pays $550M to Settle Fraud Charges

Wall Street giant Goldman Sachs & Co. has agreed to pay $550 million to settle civil fraud charges.

Homes Lost to Foreclosure on Track for 1M in 2010

More than 1 million American households are likely to lose their homes to foreclosure this year.

Retail Sales Drop 0.5 Percent in June

Retail sales fell in June for the second straight month, more evidence that the recovery will slow in the second half of the year.

Federal Deficit Tops $1 Trillion Through June

The federal deficit has topped $1 trillion with three months still to go in the current budget year.

U.S. Trade Deficit Widens to $42.3 Billion in May

The U.S. trade deficit widened in May to the highest level in 18 months.

Debt Commission Leaders Warn of Fiscal 'Cancer'

On Sunday, the leaders of President Barack Obama's national debt commission painted a gloomy picture of the problem.

Finish Line in Sight for Major Financial Overhaul

Big changes are in store for the financial world from a government crackdown more than a year in the making.

Google Says Beijing Renews China License

Google on Friday said Beijing has renewed the license it needs to continue operating a website in China.

World Economy's Expected Growth?

The International Monetary Fund expects the world economy to grow strongly in the second half of this year, which could be good for stocks worldwide.

Initial Claims Drop Last Week but Remain High

New claims for unemployment benefits dropped sharply last week, signaling that layoffs are slowing but not enough to signal strong job creation.

China Says Foreign Reserves Not Political `Weapon'

China tried Wednesday to allay concern about the political impact of its $2.5 trillion foreign reserves.

Investors Expect Markets to Rebound

Investors are hoping for a rally in the markets after recent drops in stocks, oil and gold.

Mortgage Rates Drop, Housing Market Still Weak

Record low mortgage rates haven't helped the weak housing market.

U.N. Report: U.S. Dollar Value Not Reliable

A United Nations committee says the dollar should be replaced as the main international currency.

Senate on Vacation, Unemployment Benefits Stalled

More than 1 million out-of-work Americans will not see their unemployment benefits extended before Congress takes its holiday recess.

Asia Stocks Drop ahead of U.S. Jobs Report

Most Asian stock markets posted losses as investors awaited a U.S. jobs market reading amid signs economic recovery is losing momentum.

Economic Recovery May Be Slowing

Concerns are rising that the economic rebound is stalling.

New Jobless Claims Rise in Sign of Weak Job Market

Initial claims for unemployment benefits rose for the second time in three weeks last week.

Report: Non Profits Still Struggling with Economy

Non profit organizations say they're still struggling with the economy, but enjoying a jump in investment returns.