Category Archives: Economy
Ford to invest $155M, add jobs at engine plant
CLEVELAND – Ford Motor Co. said it will spend $155 million upgrading a factory to build a new fuel-efficient V6 engine for the 2011 Mustang and expects to add 60 jobs as a result.
Ford says the upgrades are part of $1.8 billion in investments for engineering and facility modernization that will support its 2011 vehicle [...]
Duck! Watch out for falling home prices
Les Christie, staff writer, On Thursday February 25, 2010, 10:08 am EST
Despite signs that the real estate market might be lurching forward, prices are expected to fall further this year and next.
The average home price in the United States will fall by about 6% by September 2011, according to a joint report between Fiserv and [...]
Brisk 5.9 percent growth in Q4 will likely fade
JEANNINE AVERSA, AP Economics Writer
WASHINGTON – The economy rocketed ahead at a 5.9 percent pace in the final quarter of 2009, stronger than initially estimated. But the growth spurt isn’t expected to carry over into this year.
The fresh reading on the nation’s economic standing, released by the Commerce Department on Friday, was better than the [...]
January home sales fall 7.2 percent
By ALAN ZIBEL, AP Real Estate Writer
WASHINGTON – Sales of previously occupied homes took a large drop for the second straight month in January, falling to the lowest level since summer. It was another sign the housing market’s recovery is faltering.
The National Association of Realtors said sales fell 7.2 percent to a seasonally adjusted [...]
Chip Makers, the Next Battle Is in Smartphones
by Ashlee Vance
The semiconductor industry has long been a game for titans.
More from NYTimes.com:
• Skype in a Struggle to Be Heard on Mobile Phones
• Microsoft Starts Over in Phone Software
The going rate for a state-of-the-art chip factory is about $3 billion. The plants typically take years to build. And the microscopic size of chip circuitry [...]
Senate Advances Jobs Bill
Republicans Vote for $15 Billion Measure in Rare Moment of Bipartisanship
By NAFTALI BENDAVID
WASHINGTON—The Senate voted to advance a $15 billion job-creation package Monday, showing a rare hint of bipartisanship as five Republicans voted to end debate on the Democratic bill, including newly elected Sen. Scott Brown of Massachusetts.
Scott Brown, Massachusetts’ newly-elected senator, voted with four [...]
Intel, VC firms to invest $3.5B in US companies
WASHINGTON – Intel and 24 venture-capital firms are planning to invest $3.5 billion over the next two years on U.S.-based technology companies to help create new jobs.
Intel Corp.’s CEO, Paul Otellini, announced the “Invest in America Alliance” in a speech Tuesday in Washington.
The program will target areas such as clean technology, information technology and biotechnology. [...]
Nearly 20 percent of U.S. workers underemployed
By David Morgan
WASHINGTON (Reuters) – Nearly 20 percent of the U.S. workforce lacked adequate employment in January and struggled to make ends meet with reduced resources and bleak job prospects, according to a Gallup poll released on Tuesday.
In findings that appear to paint a darker employment picture than official U.S. data, Gallup estimated that [...]
Consumer confidence sags while housing remains shaky
NEW YORK (Reuters) – Consumer confidence sagged to a 10-month low on worries about jobs while the housing market remains under strain, data revealed on Tuesday, underscoring the fragility of the economy’s recovery.
Consumer confidence fell in February to the lowest in 10 months, as consumers’ short-term outlook on jobs worsened, according to a report from [...]
Jobless claims rise unexpectedly
DANIEL WAGNER, AP Business Writer
WASHINGTON – The number of newly laid-off workers filing applications for unemployment benefits unexpectedly surged last week after having fallen sharply in the previous week. The gain dampened hopes about how quickly the labor market may improve this year.
The Labor Department said Thursday that first-time claims for unemployment benefits rose by [...]