March 3, 2014 11:01 AM
NEW YORK - Global stock markets are down sharply on tensions over Russia's military advance into Ukraine and the threat of sanctions by Western governments.
The Dow Jones industrial average fell 202 points, or 1.2 percent, to 16,118 as of midday Monday.
The Standard & Poor's 500 index... more »
February 14, 2014 10:51 PM
BATON ROUGE- A state lawmaker will push legislation at the upcoming legislative session that would raise the state's minimum wage.
Senator Yvonne Dorsey-Colomb (D-Baton Rouge) filed a bill to raise the lowest wages to $10.00 per hour. Currently, the minimum wage is set at $7.25.
"Economic stability and... more »
February 7, 2014 12:04 PM
WASHINGTON - Some economists are seeing encouraging signs in the January jobs report -- even though hiring was weak for a second straight month. The government reported today that employers added 113,000 jobs last month. That compares with an average monthly gain of 194,000 last year. The sluggish growth in... more »
January 31, 2014 5:19 PM
BATON ROUGE - Some business owners in Baton Rouge say raising minimum wages to $10.10 per hour as President Obama suggests would cost consumers more money.
But workers like Khadija Lamraoui say minimum wage increases would make day-to-day life better.
"There's some people out here that get paid... more »
January 3, 2014 3:52 PM
BATON ROUGE - First-time claims for unemployment insurance in Louisiana for the week ending Dec. 28 decreased from the previous week's total. The Louisiana Workforce Commission said Friday that initial claims dropped to 1,721 from the previous week's total of 2,578. The commission said the shorter work week due to... more »
November 20, 2013 5:35 PM
BATON ROUGE - It will cost more to put oyster dressing on your plate this holiday season with oyster prices increasing during a shortage.
Bill Pizzolato with Tony's Seafood says prices have increased by around 20 percent in the past few weeks due to a shortage in Louisiana waters.... more »
November 8, 2013 8:17 AM
WASHINGTON - President Obama is heading to the Gulf Coast to make the case that more exports equals more jobs.
On Friday, he will tour the Port of New Orleans, where he'll speak about the need to boost exports and spend more on U.S. infrastructure projects like ports, roads... more »
November 7, 2013 11:05 PM
DENHAM SPRINGS- City leaders approved setting an economic development district up for a planned new shopping center along the interstate.
The Springs at Riverside Landing is expected to have restaurants and other merchants. Construction could start at the end of the year if the environmental impact study is approved.... more »
November 5, 2013 10:26 PM
BATON ROUGE- Tuesday, the mayor unveiled a $804,000,000 spending plan for the city that the metro council will spend the next month discussing.
Public safety receives more than half of the monies allocated by Mayor Kip Holden in 2014.
"Always, public service will be a top priority," Holden... more »
November 5, 2013 5:14 PM
BATON ROUGE- The mayor's $804 million spending plan for 2014 includes additional firefighters and police officers, but does not adjust the pay scale of workers, despite him being asked to recently.
Instead, some workers will get a 3 percent merit and longevity raise. However, the mayor wrote in his... more »
October 15, 2013 8:12 AM
WASHINGTON - Senate leaders are closing in on an agreement to reopen the government and forestall an economy-rattling default on U.S. obligations.
Congressional aides predicted Majority Leader Harry Reid of Nevada and GOP leader Mitch McConnell of Kentucky would seal an agreement Tuesday, just two days before the Treasury... more »
October 12, 2013 3:22 PM
BATON ROUGE - A seafood watch program "red listed" Louisiana shrimp and recommends that people avoid the shrimp for now.
The Monterey Bay Aquarium Seafood Watch program recommends which seafood items are "best choices," "good alternatives" or items that people should "avoid." Shrimp caught and harvested in
Louisiana... more »
October 11, 2013 8:07 AM
WASHINGTON - President Barack Obama and Republicans are exploring whether they can end a budget standoff that has triggered a partial government shutdown and edged Washington to the verge of an economy-shaking federal default. Obama plans a White House meeting with GOP senators on Friday. Senate Republicans say they want... more »
October 7, 2013 10:55 PM
DENHAM SPRINGS- The city annexed a piece of property that is expected to become a shopping center.
Monday night, the land for The Springs at Riverside Landing was welcomed into the city. The property is on Vincent Road and South Range.
The mayor hopes it will help bring... more »
October 5, 2013 12:06 PM
WASHINGTON D.C. - In a letter to Speaker of the House John Boehner, 200 House Democrats demand the government re-open, ending the current shutdown.
Lead by Congressmen Timothy Bishop and Patrick Murphy, the letter expressed a bipartisan majority in favor of ending the government shutdown.
House Demcorats urged... more »
October 1, 2013 1:13 AM
ST. FRANCISVILLE- Tuesday's government shutdown includes a popular outdoors area, especially one frequented by hunters.
Cat Island will be closed as long as the stalemate in Washington, D.C. continues.
An operator at the wildlife refuge said Monday, the gates would be locked if a budget deal was not... more »
September 30, 2013 9:47 PM
WASHINGTON- House Republicans are expected to discuss more legislation dealing with funding the government Monday night as a shutdown nears.
It could be the first in 17 years. The deadline is midnight.
"There side thinks it is good that bureaucrats run our life; our side thinks 'heck, it... more »
September 18, 2013 10:26 AM
WASHINGTON - President Barack Obama is touting positive gains in the economy but also warning that a "locked up" Washington is delaying progress on other issues that could build on that growth. Obama says the most obvious example is his push for a comprehensive immigration bill. He says a Senate-passed... more »
September 10, 2013 10:29 AM
WASHINGTON - U.S. employers advertised fewer jobs in July but hired more workers, a mixed sign that suggests only modest improvement in the job market. The Labor Department says job openings fell 180,000 in July to 3.7 million. That's down from 3.9 million the previous month, which was revised lower.... more »
September 9, 2013 10:13 PM
DENHAM SPRINGS- Thirty-two days since the developer of Juban Crossing told WBRZ News 2 construction would start, the empty lot at the intersection of I-12 and Juban Road in Livingston Parish remains quiet and it appears construction on the long-delayed shopping center has been pushed back.
After a request... more »
September 6, 2013 9:33 AM
ST. PETERSBURG, Russia - President Barack Obama says the world's economic powers focused on pursuing financial reforms and addressing tax evasion and avoidance during the G20 summit.
Obama says during a news conference that the economies of the U.S. and European nations have emerged from a difficult recession.
... more »
August 29, 2013 10:33 PM
GONZALES- The price of gas in Ascension Parish, and every parish in Louisiana, is rising.
Here, gas was about $3.40 Thursday. That was a one-cent increase overnight. Gonzales shared the same average as Baton Rouge, Denham Springs, and Hammond.
The national average was about $3.56.
The increase... more »
August 19, 2013 1:15 PM
BATON ROUGE - Louisiana's unemployment rate held steady at 7 percent in July. A separate survey showed state employer payrolls fell slightly for the second straight month. Both sets of figures - adjusted to cancel out normal seasonal changes - were released Monday by the federal Bureau of Labor Statistics.... more »
August 16, 2013 11:38 AM
BATON ROUGE - First-time claims for unemployment insurance in Louisiana for the week ending Aug. 10 decreased from the previous week's total. The state labor department figures released Friday show 2,719 initial claims compared to 2,844 a week earlier. The four-week moving average of initial claims decreased to 2,806 from... more »
July 31, 2013 7:40 PM
WASHINGTON- The Federal Reserve says the economy is growing modestly, considered a downgrade from its assessment in June. The Fed expects growth will pick up in the second half of the year and it will keep buying $85-billion a month in bonds to keep long-term interest rates low, in hopes... more »
July 30, 2013 10:21 AM
WASHINGTON - Americans' confidence in the economy fell only slightly in July, remaining close to the highest level in more than five years. The Conference Board, a New York-based private research group, says that its consumer confidence index dipped to 80.3 in July. That's down from a reading of 82.1... more »
July 29, 2013 2:43 PM
BATON ROUGE - First-time claims for unemployment insurance in Louisiana for the week ending July 20 decreased from the previous week's total. The state labor department figures released Monday show 3,035 initial claims compared to 3,764 a week earlier. The four-week moving average of initial claims increased to 2,978 from... more »
July 25, 2013 4:37 PM
WASHINGTON - A new study says that reversing more than $100 billion in automatic spending cuts hitting the economy this year and next would boost the economy by 0.7 percent and increase employment by 900,000 jobs. The Congressional Budget Office study is similar to prior estimates by the agency. The... more »
July 24, 2013 1:43 PM
GALESBURG, Ill. - President Barack Obama is accusing Washington of taking "its eye off the ball" and getting distracted from the economy. The president is trying to refocus debate on pocketbook concerns after months that have been dominated by what he calls "phony scandals" and "stale debates." Obama's remarks come... more »
July 17, 2013 11:05 PM
CARVILLE- Half of the state's full-time National Guard employees are being furloughed.
It is related to the national government sequestration.
Employees, including guardsmen, could get a 20% reduction in their pay because of the unpaid days off. It started in July and continues until September.
Leadership at... more »
July 5, 2013 5:20 PM
BATON ROUGE - Today's jobs report reported stronger-than-predicted gains in the economy, something which workers say is being reflected in Baton Rouge.
Melissa McLain is learning the ropes from one of her new bosses at a Baton Rouge party supply store. She just started a few weeks ago.
... more »
July 5, 2013 12:35 PM
WASHINGTON - The Federal Reserve could now be more likely to slow its bond purchases in the next few months, after a jobs report that was stronger than expected today. The government reported that employers added 195,000 jobs in June, and many more in April and May than previously thought.... more »
June 15, 2013 10:33 AM
WALKER, La. - Utility rates in Walker may rise for the first time in more than a decade. The Advocate reports the Board of Aldermen has scheduled a public hearing for June 24 on four ordinances to adjust the city's rates on gas, water, sewer and garbage collection. The adjustments... more »
June 6, 2013 12:10 PM
BATON ROUGE - New figures show that Louisiana's economy grew by 1.5 percent in 2012.
Gross domestic product numbers released Thursday by the federal Bureau of Economic Analysis try to measure all of the economic output of each state. Louisiana's 2012 growth rate was below the national average of... more »
June 4, 2013 10:27 PM
SORRENTO - Delinquent water, sewer and trash customers in Sorrento could go to jail if they don't pay what they owe.
It's the plan from the city council after discovering more than $11,000 in back bills where the people were still receiving services.
It's an issue WBRZ News... more »
June 1, 2013 10:56 AM
WASHINGTON - President Barack Obama says the economy is showing new signs of strength. He's pointing to the auto industry, new jobs and a recovering housing market as signs of progress. In his weekly radio and Internet address, Obama calls on Congress to do more to ensure that progress continues.... more »
May 29, 2013 10:14 PM
SORRENTO- More people have paid overdue utility payments since a WBRZ News 2 investigation into why people were not paying, yet still receiving services such as water and trash collection.
Around $1,000 has been collected in a week but somewhere around $10,000 is still owed.
A town council... more »
May 24, 2013 10:20 PM
SORRENTO- Leaders said a number of people showed-up at city hall to pay delinquent water, sewer, trash, and other city costs after a WBRZ News 2 investigation Thursday night.
The story found people were not paying and services were not being disconnected, costing the city thousands of dollars.
... more »
May 23, 2013 9:30 PM
SORRENTO - Several dozen people owe thousands of dollars to the City of Sorrento for city services like water, trash, sewer and even for the demolition of condemned properties. Some of the bills add up to more than $1,000.
"We are operating a lot in the red," said Councilman... more »
May 19, 2013 4:14 PM
CAMARILLO, Calif. - The average U.S. price of a gallon of gasoline has jumped 11 cents over the past two weeks. The Lundberg Survey of fuel prices released Sunday says the price of a gallon of regular is $3.66. Midgrade costs an average of $3.84 a gallon, and premium is... more »
May 5, 2013 10:42 AM
WASHINGTON - A stronger-than-expected April rebound in job creation and recent dramatic discoveries of vast U.S. oil and gas reserves are helping to lift the American economy out its long funk. The economic advances also are drawing attention to the importance of private-sector innovation rather than government policy in fostering... more »
April 30, 2013 10:15 PM
BATON ROUGE- A popular spot for faithful to buy books and other religious materials is closing.
The Bible and Book Store can't beat the competition created by the Internet and other new technology. Owners of the store on Government Street said the economy also took a toll on business.... more »
April 17, 2013 7:43 PM
WASHINGTON- A new Federal Reserve survey says a strengthening housing recovery and strong auto sales meant moderate growth across the country in February and March. The Fed's 12 banking districts showed growth and it accelerated in two districts, New York and Dallas, in January into February. The survey found hiring... more »
April 8, 2013 9:45 PM
GONZALES- City leaders approved plans for Emerson Process Management to build a new headquarters in Ascension Parish.
It will be built on West Edenborne Parkway, off I-10 and adds about 60 jobs.
It was briefly stalled because city leaders could not agree on zoning change until late last... more »
April 1, 2013 9:45 PM
LIVINGSTON- The parish's master plan is available for public comment.
It is on display at public library locations in Livingston Parish and hearings are set for April 10th and 17th. The plan could be adopted in May.
The plan calls for projecting future development areas, identifying major road... more »
March 29, 2013 10:22 AM
WASHINGTON - Consumers earned more and spent more in February, helped by a stronger job market that has offset some of the drag from higher taxes. The Commerce Department says consumer spending rose 0.7 percent in February compared with January. It was the biggest gain in five months and followed... more »
March 25, 2013 7:56 PM
GONZALES - City leaders were able to agree on a zoning change, paving the way for a planned Ascension Parish headquarters for Emerson Process Management.
Monday night, the city council was able to settle a disagreement by making changes over the type of special use permit the facility would... more »
March 13, 2013 8:12 PM
WASHINGTON- An economist says it looks like the impact of the higher Social Security tax that hit Americans in January "hasn't been too bad." Paul Dales of Capital Economics reacted to Wednesday's report on retail sales from the Commerce Department. It says Americans boosted their spending by 1.1 % last... more »
March 13, 2013 10:16 AM
WASHINGTON - One economist says it looks like the impact of higher Social Security taxes and higher gasoline prices "hasn't been too bad." Paul Dales of Capital Economics is reacting to today's report on retail sales. The Commerce Department says Americans boosted their retail spending by 1.1 percent last month... more »
March 8, 2013 8:04 AM
WASHINGTON - U.S. employers ramped up hiring in February, adding 236,000 jobs and pushing the unemployment rate down to 7.7 percent from 7.9 percent in January. Stronger hiring shows businesses are confident about the economy, despite higher taxes and government spending cuts. The government's February employment report was filled with... more »
March 5, 2013 10:34 AM
NEW YORK- With a jump of more than 100 points in early trading, the Dow Jones Industrial Average has moved into territory it's never seen before. The jump to an all-time high for the blue-chip average was powered in part by China's strong economic growth targets, and by a jump... more »
March 1, 2013 11:07 AM
WASHINGTON - President Barack Obama says it may take a couple of weeks or a couple of months to reach a deal to end Washington's battle over spending cuts. The president spoke after meeting with congressional leaders at the White House on $85 billion in automatic spending cuts that go... more »
March 1, 2013 7:53 AM
WASHINGTON - The White House says automatic spending reductions set to kick in will be put off until as close to midnight Friday as possible.
Congress passed the law in January.
It says that "on March 1, 2013, the president shall order a sequestration for fiscal year 2013."... more »
February 13, 2013 7:53 AM
WASHINGTON - President Barack Obama is launching three manufacturing hubs and is asking Congress to create 15 more. Obama says the "manufacturing innovation institutes" would bring together businesses, universities and the government to create high-tech jobs. The proposal is a central element of Obama's plan to spur manufacturing, which has... more »
February 4, 2013 11:00 AM
Stocks are falling on Wall Street after the Dow Jones industrial average hit its highest level since the financial crisis last week. The Dow was off 118 points at 13,891 shortly before noon Eastern time. Travelers and Merck fell the most of the 30 stocks in the index. The Standard... more »
February 1, 2013 5:40 AM
NEW YORK - Gasoline prices are getting an early start on their annual spring march higher.
The average retail price rose 13 cents over the past two weeks to $3.42 per gallon, and within a few days it will likely set a record for this time of year.
... more »
January 31, 2013 11:05 AM
NEW YORK- The Dow drifted lower Thursday, but stayed on track for its best start to the year in more than two decades. The Dow Jones industrial average fell 23 points to 13,887 as of 11:51 a.m. The index has gained 6 percent so far this month, putting it in... more »
January 30, 2013 7:40 PM
The Federal Reserve took no action after a two day policy meeting even though it says the economy paused in recent months. It did reaffirm its commitment to boost the sluggish economy by keeping borrowing cheap for the foreseeable future. Last month The Fed said it would keep its key... more »
January 30, 2013 1:18 PM
WASHINGTON - The Federal Reserve says growth "paused" in recent months and reaffirmed its commitment to boost a sluggish U.S. economy by keeping borrowing cheap for the foreseeable future. The Fed took no new action after a two-day policy meeting. But it stood behind aggressive steps it launched in December... more »
January 30, 2013 10:58 AM
NEW YORK (AP) - Stocks are little changed after a report that showed the U.S. economy unexpectedly contracted in the fourth quarter, putting the brakes on a January rally that has lifted stocks toward record levels. The Dow Jones industrial average is down 2 points to 13,952 as of midday... more »
January 30, 2013 10:37 AM
WASHINGTON - The White House says Superstorm Sandy is partially to blame for the unexpected contraction of the U.S. economy. Top White House economist Alan Krueger says the storm, which battered the East Coast, disrupted economic activity and destroyed $44 billion in fixed capital. Krueger also says federal defense spending... more »
January 29, 2013 10:52 AM
NEW YORK- Stocks edged higher on Wall Street, pushing the Dow toward 14,000, as investors digested the latest round of earnings and economic reports. The Dow Jones industrial average rose 57 points to 13,939 points. The Standard and Poor's 500 rose 4 points to 1,505 points. The Nasdaq composite dropped... more »
January 25, 2013 1:06 PM
GOP turns to governors in post-2012 review Eds: APNewsNow. Will be updated. KEN THOMAS Associated Press CHARLOTTE, N.C. (AP) - Looking for a new direction, many Republicans are turning to the states for ideas on how to come back from their 2012 election defeat. Republicans are promoting the tax and... more »
January 23, 2013 12:29 PM
WASHINGTON (AP) - The House has passed a bill to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit. The House... more »
January 22, 2013 6:56 AM
WASHINGTON - President Barack Obama devoted one word - "deficit" - to the issue that brought Washington to the brink of fiscal crises time and again during his first term. But it was the paragraph that followed in his inaugural address that foreshadowed what's to come - more hard bargaining... more »
January 4, 2013 3:13 PM
WASHINGTON - The U.S. job market proved resilient in December despite fears that the economy would tumble over the fiscal cliff. The Labor Department reports employers added 155,000 jobs, roughly matching the solid but unspectacular monthly pace of the past two years. The gains were not enough to reduce unemployment... more »
January 4, 2013 6:56 AM
WASHINGTON - U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during tense fiscal cliff negotiations in Washington.
The Labor Department says the unemployment rate stayed at 7.8 percent last month. November's rate was revised higher from an initially reported 7.7 percent.
... more »
December 31, 2012 10:28 PM
Washington DC - While the country braces for the fiscal cliff, congress will prepare of pay raises. On Thursday the President signed an executive order ending long time pay freezes for federal employees. It ushers in raises for the Vice President, congress, and circuit and district court judges. The VP... more »
December 27, 2012 11:18 PM
WASHINGTON - With the "fiscal cliff" clock winding down, President Barack Obama will meet with congressional leaders at the White House on Friday. The last-minute gathering will apparently attempt to reach a compromise to avoid a year-end across-the-board tax increases and deep spending cuts. Word of the meeting came after... more »
December 26, 2012 6:43 AM
HONOLULU - President Barack Obama is cutting short his traditional Christmas holiday in Hawaii, planning to leave for Washington on Wednesday evening as he and lawmakers consider how to prevent the economy from going over the so-called fiscal cliff. Obama was expected to arrive in Washington early Thursday, the White... more »
December 24, 2012 8:11 AM
WASHINGTON - Lawmakers say it'll be time to get back to work when they and President Barack Obama return to Washington on Thursday following the Christmas holiday.
Time is running out to avert the fiscal cliff of tax increases and domestic program cuts in January, and some members of... more »
December 21, 2012 9:33 AM
WASHINGTON - House Speaker John Boehner says he's still open to talks with President Barack Obama on avoiding the double economic hit of automatic tax hikes and spending cuts but he needs Obama to compromise more.
Boehner spoke to reporters Friday morning, hours after his rank-and-file Republicans handed him... more »
December 13, 2012 10:08 AM
WASHINGTON - A leading conservative who's resigning from the Senate is predicting that President Barack Obama will win the battle over raising taxes.
South Carolina Republican Jim DeMint calls it "a political trophy" within Obama's grasp. He says, quote, "The president's proposal is not a plan, it's not a... more »
December 12, 2012 9:54 AM
WASHINGTON - House Republican leaders are pressing President Barack Obama to come up with plan they can accept for spending cuts and tax revenue to avoid the so-called "fiscal cliff" of automatic tax hikes and budget reductions.
Speaker John Boehner tells reporters at a Capitol Hill news conference that... more »
December 10, 2012 12:35 PM
JEFFERSON CITY, Mo. - A potential plunge over the federal "fiscal cliff" is causing anxiety for many state officials - not only because of prospective federal funding cuts, but because of the confusion surrounding the ongoing stalemate in Washington. The longer the White House and Congress remain at odds, the... more »
December 7, 2012 11:59 AM
CHICAGO - The Chicago company that makes the familiar gold-plated Oscar statues is laying off almost 100 employees. R.S. Owens & Co. Inc. said this week in a notice to the Illinois Department of Commerce that it will lay off 95 workers on Dec. 17. The notice says the layoffs... more »
December 7, 2012 11:52 AM
NEW YORK - Stocks are trading mixed on Wall Street as investors work through the government's latest jobs report. It turns out Superstorm Sandy didn't have as much of an impact on the employment picture last month as economists had expected. The government says the storm played only a minimal... more »
December 7, 2012 10:28 AM
WASHINGTON - House Speaker John Boehner says there's been no progress in negotiations on how to avoid the fiscal cliff of tax hikes and spending cuts and called on President Barack Obama to come up with a new offer. Boehner told reporters outside his Capitol Hill office Friday that the... more »
December 7, 2012 9:05 AM
WASHINGTON - The U.S. economy added a solid 146,000 jobs in November and the unemployment rate fell to 7.7 percent, the lowest since December 2008. The government said Superstorm Sandy had only a minimal effect on the figures.
The Labor Department report offered a mixed picture for the economy.... more »
December 5, 2012 11:34 AM
NEW YORK - Oil prices are lower Wednesday after the government reported that stocks of crude are still running much higher than usual for this time of year. Benchmark crude fell 24 cents to $88.26 in midday trading. Oil prices were higher earlier in the day. But the weekly report... more »
December 5, 2012 7:25 AM
WASHINGTON - President Barack Obama speaks to business leaders Wednesday morning amid the debate over how to avoid the fiscal cliff.
Obama also plans to answer questions from members of the Business Roundtable, an association of chief executive officers of leading U.S. companies.
The group has been urging... more »
December 3, 2012 4:47 PM
WASHINGTON - The White House is rejecting a Republican counteroffer aimed at averting the "fiscal cliff," saying it does not meet what the White House calls "the test of balance." White House communications director Dan Pfeiffer says the GOP proposal would lower tax rates for the wealthy and stick the... more »
December 3, 2012 2:16 PM
WASHINGTON - House Republicans negotiating with President Barack Obama on avoiding the so-called fiscal cliff are proposing to increase the eligibility age for Medicare and to lower cost-of-living hikes in Social Security benefits. The proposal is a response to Obama's offer last week to hike taxes by $1.6 trillion over... more »
November 30, 2012 10:29 AM
BATON ROUGE - First-time claims for unemployment insurance in Louisiana for the week ending Nov. 24 decreased from the previous week's total. The state labor department figures released Friday show the initial claims decreased to 2,705 from the previous week's total of 2,875. For the comparable week a year earlier,... more »
November 30, 2012 7:47 AM
WASHINGTON - During his visit to the Philadelphia area today, President Barack Obama is planning on insisting on higher taxes for the top two percent of earners. That's according to White House officials, who say Obama will cast Republicans as an obstacle to a deal that would avoid the "fiscal... more »
November 29, 2012 3:46 PM
WASHINGTON - The Congressional Budget Office says extending the current level of long-term unemployment benefits for another year would add 300,000 jobs to the economy. A report from the nonpartisan office estimates that preserving jobless benefits would cost the government $30 billion. But it would also lead to more spending... more »
November 29, 2012 1:28 PM
WASHINGTON - Republican congressional leaders are accusing Democrats of moving the nation closer to the "fiscal cliff," by refusing to outline possible spending cuts. After a meeting with Treasury Secretary Tim Geithner today, House Speaker John Boehner said there'd been "no substantive progress" -- and no "specific plan for cutting... more »
November 26, 2012 5:05 PM
WASHINGTON - Efforts to avoid the "fiscal cliff" have resumed in Washington following the long holiday weekend. Congress and President Barack Obama have until the end of the year to avoid tax increases and automatic spending cuts. White House and congressional aides say Obama spoke separately over the weekend with... more »
November 26, 2012 3:16 PM
WASHINGTON - As Washington gets back to work on avoiding the automatic spending cuts and tax hikes that would take effect in January, White House economists are warning that the uncertainty facing U.S. taxpayers could cause consumers to rein in their spending during the current holiday season.
The report... more »
November 26, 2012 3:07 PM
NEW YORK - Oil is back below $88 per barrel after a slow day of trading. Analysts are giving two reasons for the decline. One is that the truce between Israel and Hamas in the Gaza Strip appears to be holding. The second is that traders are worried that negotiations... more »
November 23, 2012 3:57 PM
NEW YORK - Stocks rallied in an abbreviated session on Wall Street. The Dow Jones industrial average shot up 172 points to 13,009. That's the first close above 13,000 for the Dow since Election Day. The Standard & Poor's 500 index rose 18 points to 1,409. The S&P also racked... more »
November 20, 2012 12:27 PM
WASHINGTON - The government reports that the nation's home builders began construction last month on the most homes and apartments since July 2008. It is fresh evidence that the housing recovery is gaining momentum. The Commerce Department says builders broke ground on homes in October at a seasonally adjusted annual... more »
November 20, 2012 12:25 PM
WASHINGTON - Federal Reserve Chairman Ben Bernanke (bur-NANG'-kee) is warning Congress and the Obama administration to strike a budget deal to avert tax increases and spending cuts that could trigger a recession next year. Without a deal, the measures known as the "fiscal cliff" will take effect in January. Speaking... more »
November 14, 2012 3:28 PM
OMAHA, Neb. - Investor Warren Buffett says there won't be a recession if Congress can't resolve the so-called fiscal cliff before the automatic tax increases and spending cuts take effect in January. Buffett told CNN on Wednesday that the U.S. economy is very resilient, and it won't collapse if lawmakers... more »