All Blog Posts (2,351)

US Mint to Suspend American Eagle Gold 1-Ounce Coins

The U.S. Mint said Wednesday it will suspend sales of the popular American Eagle 1-ounce bullion coins as rising demand deple

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Added by The Watchmen on November 26, 2009 at 2:18pm — No Comments

We’re running out of gold: miners

MONTREAL — Gold production will continue to fall, despite a brief boost in 2009 and soaring prices, as deposits are exhausted and new discoveries remain elusive, say miners. In terms of production, "2009 is the outlier as far as the trend," Omar Jabara, spokesman for US-based

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Added by The Watchmen on November 26, 2009 at 1:25pm — No Comments

US GDP growth revised down to 2.8%

The US economy grew less than previously thought in the third quarter, as consumer spending was softer than estimated, but the US housing market showed continued signs of strength, figures revealed on Tuesday. US gross domestic product grew at an adjusted annual rate of 2.8 per cent, the commerce department said on Tuesday. Last month the comme

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Added by The Watchmen on November 24, 2009 at 12:07pm — No Comments

Imports restrain U.S. growth in Q3

WASHINGTON (Reuters) - The U.S. economy grew more slowly than initially thought in the third quarter, held back by strong imports and weak investment in nonresidential structures, hinting at a lackluster recovery. Corporate profits surged, howe

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Added by The Watchmen on November 24, 2009 at 10:30am — No Comments

Employees in recession are eyeing your top secrets

LONDON (Reuters) - Almost half the financial sector workers in London and New York say they would take sensitive company information with them if they were fired, according to

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Added by The Watchmen on November 24, 2009 at 10:30am — No Comments

Fed Said to Ask Stress-Tested Banks to Submit Plans on TARP

Nov. 24 (Bloomberg) -- The Federal Reserve asked nine of the U.S. banks that were part of this year’s stress tests to submit plans for repaying the government’s capital injections, a person familiar with the situation said. The central bank this month asked Bank of Amer

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Added by The Watchmen on November 24, 2009 at 10:25am — No Comments

Clothing Sales Down Nov., but Online Roars Back

The Associated Press NEW YORK (AP) -- After showing signs of improvement in early fall, sales of clothing and luxury goods weakened a bit the first half of Novembe

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Added by The Watchmen on November 24, 2009 at 10:12am — No Comments

Oil Slips Towards $77 as Markets Await Data

The Associated Press Oil slipped towards $77 a barrel Tuesday as markets awaited data expected to show that the pace of U.S. economic recovery

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Added by The Watchmen on November 24, 2009 at 10:10am — No Comments

Renters becoming latest victims as foreclosure crisis widens

MULTIFAMILY DEFAULTS RISING Some tenants left in dilapidated buildings By Robin Shulman Washington Post Monday, November 23, 2009 NEW YORK -- A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. In cities such as New York, Chicago and

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Added by The Watchmen on November 23, 2009 at 12:17pm — No Comments

Obama’s feeble dollar sparks a new goldrush

Visitors to America might have noticed the television ads urging us to buy gold. One such “spokesman”, formerly in charge of managing the government’s hoard of the yellow stuff, including the ingots buried at Fort Knox, points out that the value of gold has never fallen to zero. Why investors are expected to find such a modest claim reassuring I can’t imagine. But something is persuading people to buy gold, driving the price to and past $1,100 per ounce, from about $270 at

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Added by The Watchmen on November 23, 2009 at 11:14am — No Comments

Economic Survey: Job Losses to Bottom Out in 1Q

Economic Survey: Job Losses to Bottom Out in 1Q By THE ASSOCIATED PRESS Filed at 12:42 a.m. ET Economists expect the joblessness that has weighed down the nation's economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey. While signs have pointed to the end of the recession

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Added by The Watchmen on November 23, 2009 at 2:18am — No Comments

Wave of Debt Payments Facing U.S. Government

WASHINGTON — The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true. But that happy situation, aided by ultralow interest rates, m

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Added by The Watchmen on November 23, 2009 at 2:08am — No Comments

Fannie Mae to Rent Foreclosed Homes Back to Borrowers

Nick Timiraos | The Wall Street Journal | November 5, 2009 Fannie Mae plans to allow homeowners facing foreclosure to stay in their homes and rent them for up to one year as part of the latest effort to help troubled borrowers while keeping a glut of foreclosed properties from hitting the housing market. The Deed for Lea

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Added by The Watchmen on November 5, 2009 at 12:02pm — No Comments

JPMorgan Chase Reports Strong Profit of $3.6 Billion

By ERIC DASH A year after accepting a bailout from Washington, a resurgent JPMorgan Chase reported a second consecutive quarter of surprisingly strong profit on Wednesday, solidifying its position at the pinnacle of American finance. JPMorgan’s results — $3.6 billion in profit for the third quarter — fanned hopes on Wall Street that the

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Added by The Watchmen on October 14, 2009 at 5:56pm — No Comments

Mayor Who Added Jobs Lost Some, Too

By CHRISTINE HAUGHNEY During much of his tenure, Mayor Michael R. Bloomberg has taken credit for helping to create hundreds of thousands of jobs in New York City, from high-paying construction work to sales jobs at dozens of new big-box stores. Even as the city plods through the recession, the mayor has set a goal to “retain and create” an additio

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Added by The Watchmen on October 14, 2009 at 5:54pm — No Comments

Dow Closes Above 10,000 for First Time in Over a Year

The Dow Jones industrial average, one of the most-watched markers of the financial world, closed above 10,000 points on Wednesday, a milestone of the stock market’s recovery from the depths of the financial crisis. At the close, the Dow was up 144.8 points or 1.5 percent at 10,015.86. It had not closed above 10,000 since Oct. 3, 2008. “The last time we saw 10,000 we were

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Added by The Watchmen on October 14, 2009 at 5:50pm — No Comments

US facing massive economic ‘power shift’ with dollar’s downward spiral

The dollar's position as the world's leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said. A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency's future. The dollar slumped against rivals last week in the wake of the British da

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Added by The Watchmen on October 12, 2009 at 1:33pm — No Comments

Gold at $1,500? Don't hold your breath

However, unlike other commodities it has relatively few uses other than as an ornament. Copper is used in wiring, iron is used to manufacture steel but gold's main uses are – and always have been – as a store of value and as a way to demonstrate personal wealth. Even if solid gold bathroom taps are not to your taste, they certainly make a point. This means that gold really should b

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Added by The Watchmen on October 12, 2009 at 1:31pm — No Comments

FTSE 100 breaches 5200 to hit 12-month high

Breaching this level is significant, said David Jones, chief market strategist at IG Index. "This area had successfully capped any strength since the middle of September and today’s levels are the highest seen for more than a year, which should help banish any worries that the recovery was running out of steam," he said. London's index of leading shares was up 57 - or 1.1pc - at 5221 by noon as a broad range of sectors showed gains. Insurer Old Mutual was the biggest ris

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Added by The Watchmen on October 12, 2009 at 1:29pm — No Comments

U.S. Budget Deficit Estimate $1.4 Trillion

WASHINGTON (Reuters) - The U.S. government spent a record $1.4 trillion (876.9 billion pounds) more than it collected in the fiscal year ended September 30, congressional analysts said on Wednesday, in their final estimate before the official numbers are issued. Bank bailouts, stimulus spending and declining t

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Added by The Watchmen on October 12, 2009 at 6:23am — No Comments