Slowing economy faces major hurdles

Fri, 30 Jul 2010 19:02:40 GMT

As the engine of U.S. economic growth slows, two of its main cylinders - job growth and consumer spending - still aren't firing. Until they kick in, the  weak recovery is in jeopardy.

Obama: Republicans holding small businesses "hostage"

Sat, 31 Jul 2010 10:06:05 GMT

President Barack Obama on Saturday accused Republicans of holding American small businesses "hostage to politics" after Republican senators refused to back a $30 billion small-business lending package.

Stocks close with best month in a year

Fri, 30 Jul 2010 22:19:03 GMT

Stocks had a fitting end to a choppy July as prices seesawed their way to a narrowly mixed finish. The market still had its best month in a year.

Buffett-signed spoon a scoop for charity

Sat, 31 Jul 2010 16:04:39 GMT

A 33-inch, 5-pound red metal spoon bearing the signature of the billionaire investor fetched $4,500 for charity in an online auction on eBay.

Recovery lost speed in the second quarter

Fri, 30 Jul 2010 18:23:10 GMT

The recovery lost momentum in the spring as growth slowed to a 2.4 percent pace, its most sluggish showing in nearly a year and too weak to drive down unemployment.

Newsweek: Why not to panic about the economy

Fri, 30 Jul 2010 23:09:39 GMT

The GDP report for the second quarter has prompted much concern about the tepid 2.4 percent growth rate, but there are other aspects of the report worth noting. First, the bifurcated economy lives. Second, the report suggests that economic activity in the United States continues to expand at a decent clip.

U.S. consumers feel more downtrodden in July

Fri, 30 Jul 2010 14:05:08 GMT

U.S. consumer sentiment plunged in July to its lowest level in 9 months on bleak prospects for jobs and income a year since the economic recovery began, a private survey shows.

Time to scrap BP? Gas station owners divided

Fri, 30 Jul 2010 23:52:34 GMT

BP gas station owners are divided over whether the oil giant should rebrand U.S. outlets as Amoco or another name as part of efforts to repair the company's badly damaged reputation.

Madonna's junior fashion line debuts next week

Fri, 30 Jul 2010 20:27:53 GMT

The Material Girl is launching a new clothing line for juniors that will hit stores in the U.S. next week, just in time for back-to-school shopping.

From food trucks to brick-and-mortar eateries

Fri, 30 Jul 2010 21:12:15 GMT

Food trucks have grown so popular in some areas that a growing number of young operators are opening up, er, less-mobile restaurants.

BP CEO: I'm a 'villain for doing the right thing'

Fri, 30 Jul 2010 11:28:51 GMT

Tony Hayward, who resigned as chief executive of BP in the wake of the Gulf oil spill, has said that he was turned into "a villain for doing the right thing."

Obama selling auto bailout good news

Fri, 30 Jul 2010 19:03:49 GMT

President Barack Obama on Friday heralded the recent turnaround for U.S. automakers, arguing that thousands of jobs and increased production vindicate his unpopular decision to bailout the industry.

Law creates paperwork fiasco for businesses

Fri, 30 Jul 2010 23:48:54 GMT

The House rejected an effort to repeal part of the new health care law that requires millions of businesses to file tax forms for every vendor that sells them more than $600 in goods.

Regional chains feed America's burger appetite

Fri, 30 Jul 2010 11:46:26 GMT

Whether you want pear chutney on your sandwich, or an artery-clogging ball of meat and grease for less than a buck, there’s a regional burger chain for you somewhere in America.

A possible successor to Buffett at Berkshire?

Fri, 30 Jul 2010 15:59:04 GMT

The oft-debated question of who will take over for Warren Buffett as the investment head of Berkshire Hathaway may have moved a notch closer to resolution.

10 hot startups with future potential

Fri, 30 Jul 2010 11:52:40 GMT

"Hot" startups aren't the entrepreneurial equivalent of a winning lottery ticket. They are the companies that capture the hearts and minds of their potential customers — and market share.

Billionaire brothers accused of insider trading

Fri, 30 Jul 2010 12:27:42 GMT

Sam and Charles Wyly, Dallas billionaire investors  made $550 million in undisclosed profits through 13 years of insider trading, according to an SEC lawsuit.

Banks' hard sell: Opt in for more overdraft fees

Fri, 30 Jul 2010 12:21:53 GMT

Facebook may postpone its IPO until 2012

Fri, 30 Jul 2010 15:38:24 GMT

Social networking website Facebook Inc may postpone its initial public offering until 2012, Bloomberg said, citing three people familiar with the matter.

Disney to sell Miramax for over $660 million

Fri, 30 Jul 2010 15:08:49 GMT

Walt Disney Co. has agreed to sell Miramax, the studio behind such films as "Trainspotting" and "No Country for Old Men," for more than $660 million to Filmyard Holdings LLC.

Lawsuits seek $30 million from Madoff family

Fri, 30 Jul 2010 10:44:23 GMT

A court-appointed trustee seeking to recover billions of dollars lost by Bernard Madoff filed 3 lawsuits in a bid to get back more than $30 million  he said the Madoff family had invested.