More News on Economy in Crisis

Job losses sap consumer confidence

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NEW YORK — Mounting job losses and other economic realities caught up with Americans in June, pushing down a key barometer of consumer sentiment after a streak of gains built on glimmers of hope. Some economists say the reality check offered... Full story

Preparing for the post-recession buyer

ANNE D’INNOCENZIO

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The recession steered a new type of customer to Wal-Mart - deeper in the pockets and suddenly looking for bargains. Now the world's largest retailer has to figure out how to keep that customer when the economy recovers. So Wal-Mart is bringing in more... Full story

Recovery hindered by recession debris

ALAN ZIBEL

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WASHINGTON • Nationwide home sales may have finally hit bottom, new data show, but a host of thorny problems are hindering recovery. Sales of previously occupied homes rose by 2.4 percent from April to May - the third monthly increase this year... Full story

Watchdog agencies agree to split up responsibilities

MARCY GORDON

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WASHINGTON • The heads of two federal agencies with financial-oversight responsibilities have told Congress that their jurisdiction can be divided over the instruments blamed for hastening the global economic crisis. The Securities and Exchange... Full story

Jobless benefit rolls drop sharply to nearly 6.7M

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WASHINGTON - The total number of people on the unemployment insurance rolls dropped for the first time since early January, the government said Thursday, while new claims for benefits rose slightly. The Labor Department said the total unemployment insurance... Full story

Bank industry girds for fight over consumer agency

DANIEL WAGNER

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NEW YORK - Of all the financial regulatory changes the Obama administration has proposed, one stands tallest as a threat to bank industry profits: the creation of an agency to protect consumers from risky products. Banking lobbyists are already trying... Full story

Housing starts rebound; inflation stays in check

CHRISTOPHER S. RUGABER 
and MARTIN CRUTSINGER

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WASHINGTON • Fresh signs that the economy is stabilizing - though at low levels - emerged Tuesday in reports that home construction rose more than expected last month and wholesale prices are in check. The building of new homes and apartments jumped... Full story

Survey shows Premium travel dropped 22 percent in April

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MINNEAPOLIS - More evidence emerged Tuesday that a bad economy pushes passengers to the back of the plane, as a trade group reported that traffic in the high-end airline seats fell 22 percent in April. Revenue from those passengers fell even faster,... Full story

Extended Stay Hotels LLC files for Chapter 11

KRISTEN A. LEE

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NEW YORK • Extended Stay Hotels LLC filed for Chapter 11 bankruptcy protection on Monday, citing massive debt stemming from its 2007 acquisition by the Lightstone Group and a sharp drop in business travel due to the recession. The Spartanburg, S.C.-based... Full story

College grads need to be creative to find jobs

DAVID PITT

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DES MOINES, Iowa - Michael Jugenheimer considers himself lucky. He has a job. The 22-year-old from Danielson, Conn., received an offer on his graduation day from Grinnell College last month. It was payoff for a search that began in October. Jugenheimer... Full story