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AP Business News
07/02/2009 16:56:50
|  Jobless data sends stocks reeling; Dow loses 223
NEW YORK (AP) - A dour report on job losses in June sent stocks sharply lower Thursday. Major stock indexes fell more than 2.6 percent after the government said the U.S. unemployment rate hit a 26-year high. The Dow Jones industrials closed at their lowest level in six weeks. More » |  467K jobs cut in June; jobless rate at 9.5 percent
WASHINGTON (AP) - Employers cut a larger-than-expected 467,000 jobs in June and the unemployment rate climbed to a 26-year high of 9.5 percent. Workers also saw weekly wages fall, suggesting Americans will have little appetite to spend and the economy's road to recovery will be bumpy. The Labor Department report, released Thursday, showed that even as the recession flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on solid ground. More » | Boeing maintains deliveries in 2nd-quarter
WASHINGTON (AP) - Boeing Co. delivered 125 commercial jets in the second quarter, one less than the same period in 2008. The aerospace manufacturer said for the three month-period it delivered 99 of its 737s - the company's best-selling jet - and 21 777s. In the same period last year, Boeing delivered 100 737s and 18 777s. More » | FDIC seeks stronger rules for sale of failed banks
WASHINGTON (AP) - Private equity firms seeking to buy failed banks would face strict capitalization and disclosure requirements under government rules proposed Thursday that some regulators already warn may go too far. The Federal Deposit Insurance Corp. is seeking to expand the number of potential buyers for the growing number of banks it has closed during the financial crisis. With mounting interest from private equity firms, whose methods and motives aren't always clear, the FDIC is trying to set requirements to ensure the banks won't fail again. More » | ECB keeps interest rate at 1 pct
LUXEMBOURG (AP) - The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its ``spectacular'' infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone's struggling economy. Bank President Jean-Claude Trichet said the ECB was pleased by the demand for its record 442 billion ($623 billion) in 12-month credits to banks last week, but wouldn't comment about what more it might do. The new loan program comes on top of cutting the bank's main interest rate from 4.25 percent to 1 percent since October. More » |
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