February 2011 Headlines

Oil Prices Remain High in U.S., Britain

The price of a barrel of oil stayed at $98 in the U.S. and $112 in Great Britain, which is about where prices were at the end of last week.

Gas Prices Rise Over Libya's Turmoil

The price of a barrel of oil has spiked 18 percent in the last ten days. Unrest in the Middle East has made oil speculators nervous.

CBO Raises Stimulus Estimate to $821 Billion

The Congressional Budget Office has raised its estimate of the cost of President Barack Obama's economic stimulus plan.

Toyota Recalls 2.17 Million Vehicles in U.S.

Toyota Motor Corp. is recalling 2.17 million vehicles in the United States to address accelerator pedals that could become entrapped in floor mats or jammed in carpeting.

Report: Home Prices Drop in 20 U.S. Cities

Home prices have fallen by 2.4 percent in most major U.S. cities.

Fewer Credit Card Rate Hikes After Regulations

Credit card holders are facing fewer interest rate hikes and forking over sharply less in late fees.

Libyan Clashes Hit Stocks as Oil Prices Surge

Fears that Libya is heading toward civil war weighed on stocks Monday and pushed oil prices sharply higher.

How to Lay the Axe to Gov't Spending, Now

If politicians want to get really serious about cuts, federal spending experts like Seton Motley and Chris Edwards, have two separate plans already laid out.

Bernanke Urges Nations to Help Ease Trade Gaps

Fed Chairman Ben Bernanke on Friday urged countries with large trade surpluses to let their currencies rise in value to help prevent another global financial crisis.

Consumer Prices Skyrocket Around the World

Gasoline, food and clothing prices are rising and are the result of a perfect weather storm in the U.S. and abroad.

Unemployment Benefits Jump to 410,000

The number of people applying for unemployment benefits rose more than expected last week, one week after it had fallen to the lowest level since 2008.

World Food Prices at Dangerous High Levels

World Bank President Robert Zoellick says global food prices have hit all-time dangerous high levels.

Retail Sales Post 7th Straight Gain

The Commerce Department is hailing the fact that retail spending increased for the seventh month in a row. Spending also increased.03 percent to $318.6 billion, the department reported Tuesday.

Deficit Biggest Share of Economy Since 1945

Not since World War II has the federal budget deficit made up such a big chunk of the U.S. economy

France Wants Change in Global Financial System

French Foreign Minister Christine Lagarde says the world needs a new financial system based on several multiple currencies.

Clothing Prices to Rise 10 pct Starting in Spring

Clothing prices have dropped for a decade as tame inflation and cheap overseas labor helped hold down costs.

Analyst's Prediction: Oil to Hit $300 by 2020

Charles T Maxwell, a leading analyst who's been working in the energy business since 1957, said oil is heading to $300 a barrel by the year 2020.

White House Hands Congress Housing Finance Dilemma

The Obama administration is laying out three broad options for overhauling the mortgage lending system, but will let Congress make the final decision.

As Corn Reserves Drop, Food Prices Go Higher

If you think food prices are high now, food producers have warned the prices will go even higher.

NYSE Euronext Confirms Talks with Deutsche Boerse

Stock market operator NYSE Euronext has confirmed it is in "advanced discussions" about merging with Deutsche Börse AG to create the world's largest stock exchange.

Gas Prices Soaring Amid Mideast Turmoil

It's becoming more painful to fill up the gas tank. Gas prices are spiking across the country and it appears there's no relief in sight.

WikiLeaks: Saudi Arabia Low on Oil Reserves

A geologist and former head of exploration at the Saudi Arabian oil monopoly Aramco, has warned that his country may have far less oil than experts previously thought.

Poll: Americans Against Raising Debt Ceiling

A new poll conducted by The Hill newspaper showed that 62 percent of Americans oppose raising the debt ceiling while only 27 percent support it.

Layoffs Become Rarer Even With Unemployment High

Of the 13.9 million Americans the government says were unemployed last month, about 1.8 million had been without work for at least 99 weeks - essentially two years.

Google's Xoom Tablet Coming in February

Google will try to give Apple i-Pad a run for its money with their very own electronic tablet, the Motorola Xoom.

Retailers Report Surprisingly Solid January Sales

Retailers reported surprisingly solid January revenue gains Thursday that swept away fears that snowstorms in much of the country had chilled sales.

Barbie Leads Mattel Holiday Sales Spike

Barbie, American Girl and new Monster High dolls were all strong sellers for the nation's largest toy maker during the quarter, sending revenue up 9 percent.

GM Stakes Millions on Super Bowl Ad Blitz

General Motors is one company that plans to use the Super Bowl as a multi-million dollar opportunity to advertise its products to the large television audience.