July 2012 Headlines

Gas Prices Rising but Still Lower than April

Drivers have paid more at the gas pump in recent weeks, but still significantly less than they did during April's price hike.

Euro Crisis Worsening Despite Reforms

Recent actions by European leaders to mend Europe's financial crisis have failed to turn things around.

Drought Likely to Bring Higher Grocery Bills in 2013

The U.S. Department of Agriculture warned Thursday that this year's drought will likely cause higher grocery bills in 2013.

Geithner Grilled on Economy, Interest Rate Rigging

Geithner's testimony before the House Financial Services Committee Wednesday, coincided with news that Europe produced more dismal economic numbers.

Annual Deficit Over $1 Trillion Again

Analysts warn the federal government is on its way to another deficit of more than $1 trillion.

Analysts Warn US May Already Be in Recession

Financial analysts are cutting back their earnings estimates for America's biggest businesses, down to the lowest levels since the financial crisis began in 2008.

Poverty Rising to Highest Level Since 1960s

American poverty is climbing to rates not seen in nearly 50 years, according to a bipartisan survey of economic experts.

Jobless Claims Rise to 386K on Seasonal Factors

The number of Americans seeking unemployment benefits rose by 34,000 last week, a figure that may have been skewed higher by seasonal factors.

Credit Card Companies to Pay Retailers $6B

Retailers will soon be able to charge you more for using your credit card. The increase is part of a $6 billion settlement against Visa, Mastercard, and major banks.

Bernanke: Economy Slumping, Slower Growth Ahead

Federal Reserve Chairman Ben Bernanke had grim news about the economy Tuesday, telling lawmakers U.S. growth is slumping in several areas.

Automatic Cuts Could Mean 2 Million Jobs Lost

America could lose more than 2 million defense and domestic jobs if Congress can't reach a deal to stop automatic spending cuts.

JPMorgan Chase Bad Trade Now at $5.8 Billion

JPMorgan Chase leaders now say that a bad trade cost the bank $5.8 billion this year, which is almost triple its original estimate.

Deficit to Exceed $1 Trillion for Fourth Straight Year

The U.S. budget deficit remains on track to exceed $1 trillion for the fourth straight year, according to the Treasury Department.

Barclays LIBOR Scandal Sparks Congressional Probe

U.S. officials are looking into the British financial scandal involving a key global interest rate.

Third California City Seeks Bankruptcy Protection

San Bernardino, Calif., a city of about 210,000 people, joins several cities in crisis across the country. The cities are tapped out and taking drastic measures.

Homeowners Losing Houses over $400 Tax Liens

Elderly and other vulnerable homeowners are losing their homes simply because they owe a few hundred dollars in back taxes to local governments.

Euro Tragedy: Why EU is Crumbling Before our Eyes

It may be only a matter of time before the financial crisis in Europe rocks the rest of the world. Meanwhile, European leaders have yet to find a solution.

Can Americans Afford the Coming Tax Increase?

With several states opting out of Obamacare because of the financial burden, many others are concerned about its cost to the average worker and to businesses.

Mixed Manufacturing Data Show Economy Still Unstable

U.S. manufacturing activity fell to its lowest level in three years in June, a possible indicator that the economy is still weakening.