Economy NewsRSS

US stocks drop sharply; Airlines sink

FILE - In this May 11, 2007, file photo, a Wall Street sign is mounted near the flag-draped facade of the New York Stock Exchange. Stocks are heading lower in early trading Wednesday, Oct. 1, 2014, putting the market on course for its third loss in a row. (AP Photo/Richard Drew, File)NEW YORK (AP) — The stock market sank Wednesday, with the Dow Jones industrial average falling 250 points, on disappointing economic news and a slide in airlines stocks over Ebola fears. Investors moved money into traditional havens in times of uncertainty: bonds, gold and stocks that pay large dividends, such as utilities.

10/01/2014 03:31 PM

New Polish PM signals cautious approach on euro accession

Poland's newly appointed Prime Minister Kopacz presents her policy plans in Parliament in WarsawBy Marcin Goettig and Pawel Sobczak WARSAW (Reuters) - Poland's new Prime Minister Ewa Kopacz said on Wednesday she would largely stick to the policies of her predecessor Donald Tusk, including a cautious approach to the question of when eastern Europe's biggest economy will join the euro. In her first major policy speech as prime minister, Kopacz tried to appeal to voters before a parliamentary election next year, casting her government as caring and focused on the interests of ordinary Polish families. ...

10/01/2014 02:53 PM

U.S. factories lose steam but private sector steps up hiring

Workers assemble built-in appliances at the Whirlpool manufacturing plant in ClevelandBy Jason Lange WASHINGTON (Reuters) - Growth in U.S. factory activity slowed more than expected in September even as hiring in the private sector accelerated, signs of an uneven expansion in the U.S. economy. The Institute for Supply Management said on Wednesday its index of national factory activity dropped to 56.6 last month, its lowest level since June, from 59.0 in August. Economists had forecast it would slide to just 58.5. A gauge of new orders fell to 60.0 from 66.7. Analysts have warned that U.S. ...

10/01/2014 02:16 PM

'Umbrella Revolution' risks cold shower for HK business

Pro-democracy protesters raise their umbrellas on cue as part of the demonstrations currently blocking central Hong Kong that have been dubbed the "umbrella revolution", on October 1, 2014The "umbrella revolution" is starting to weigh on Hong Kong's domestic economy as protests escalate but the real concern is over the city's status as an international financial hub.

10/01/2014 01:32 PM

A decade after welcoming wind, states reconsider

In this July 28, 2014 photo, the home of Tammy and Rick Huffstutlar is surrounded by wind turbines in Calumet, Okla. A decade ago, states offered wind-energy developers an open-armed embrace, envisioning a bright future for an industry that would offer cheap electricity, new jobs and steady income for large landowners. Today, many of the same political leaders who initially welcomed the wind industry want to regulate it more tightly. (AP Photo/Sue Ogrocki)CALUMET, Okla. (AP) — A decade ago, states offered wind-energy developers an open-armed embrace, envisioning a bright future for an industry that would offer cheap electricity, new jobs and steady income for large landowners, especially in rural areas with few other economic prospects.

10/01/2014 01:27 PM

Sagebrush recreation sites across U.S. West generate millions
By Sandra Chereb CARSON CITY Nev. (Reuters) - Miles of sagebrush may be tedious to interstate travelers across the U.S. West, but the ecosystems supporting the scrubby plants are an economic generator, pumping millions into the local and national economies, according to a report released on Tuesday. An analysis prepared by ECONorthwest, an Oregon-based economics firm, estimates that recreational visitors to sagebrush country in 11 Western states spent $623 million in communities within 50 miles of Bureau of Land Management recreational sites in 2013. ...
10/01/2014 01:05 PM

Mercedes slightly overstated fuel economy in C300 compact sedans

A Mercedes-Benz logo and sign are seen at a dealership in downtown ShanghaiDETROIT (Reuters) - Daimler AG's Mercedes-Benz will have to lower its labeling of fuel economy ratings on two all-wheel drive compact sedans, the U.S. Environmental Protection Agency said on Wednesday. The EPA tested the Mercedes-Benz C300 all-wheel drive FFV and PZEV models and found that the manufacturer had overstated by 1 mile per gallon the rating for city driving of each model. Mercedes-Benz stated a rating for each model of 20 mpg in city driving, and EPA testing showed 19 mpg, the agency said in a statement. ...

10/01/2014 12:01 PM

Weak demand hits factory activity across Asia, Europe

Workers look at machines moving newly made raw bricks at a factory in HuaibeiBy Sumanta Dey and Wayne Cole BANGALORE/LONDON/NEW YORK (Reuters) - Dwindling demand hurt factory activity across much of Asia and Europe in September, and mixed manufacturing indicators in the Americas on Wednesday raised the chances of slower global economic growth in the months ahead. China's manufacturing sector barely expanded, while Britain's slumped, and the drop in new orders did not even spare Germany, the strongest member of the euro zone currency bloc, or France, its No. 2 economy. Euro zone factories' final September purchasing managers' index from private data vendor Markit was ...

10/01/2014 11:46 AM

US stocks fall on mixed economic data

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on August 26, 2014New York (AFP) - Wall Street stocks dropped in early trade Wednesday on mixed economic data as the market looked ahead to Friday's US jobs report for September.

10/01/2014 10:25 AM

U.S. factory activity grew in September, jobs increases best since early 2012

An overall view of the assembly line where the BMW X4 is made at the BMW manufacturing plant in SpartanburgNEW YORK, (Reuters) - America's manufacturing industry expanded in September, though a tad slower than during August, while employment in the sector grew at its best pace since March 2012, an industry report showed on Wednesday. Financial data firm Markit said its final U.S. Manufacturing Purchasing Managers Index turned down to 57.5 last month from 57.9 during August. The preliminary read for the index was 57.9. A reading above 50 signals expansion in economic activity. ...

10/01/2014 10:09 AM

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