Sales at U.S. retailers rose unexpectedly in February despite a drop in vehicle purchases and inclement weather that was expected to curtail shopping, according to a government report on Friday that bolstered hopes of a sustainable economic recovery.
The Commerce Department said total retail sales rose 0.3 percent as consumers bought an array of goods from [...]
Archive for the ‘commercial real estate’ Category
Retail sales unexpectedly rise 0.3 percent
March 12th, 2010 by HardMoney Writer
Tags: commerce department, economic recovery, unemployment, us retailers
more...California revenue jumps, tax refunds should be paid on time
March 11th, 2010 by HardMoney Writer
California’s revenue in February was $480 million or 8.7 percent above the estimate in Governor Arnold Schwarzenegger’s state budget plan, so tax refunds should be paid on time, State Controller John Chiang said on Wednesday.
There had been some talk in the state capital of Sacramento that tax refunds could be delayed, as they were temporarily [...]
Tags: recession, sacramento, tax, tax refunds, wall street
Regulators tell banks to restrict dividends, buybacks: report
March 10th, 2010 by HardMoney Writer
Shareholders may have to wait for months to retrieve capital after U.S. regulators told banks not to increase dividends or buy back shares amid political and economic uncertainty surrounding the financial industry, the Financial Times reported on Wednesday.
Executives at JPMorgan Chase & Co (JPM.N) and Goldman Sachs Group (GS.N) have talked in public and to [...]
Tags: banks, buybacks, credit crisis, economic, financial industry, shareholders, us regulators
German bankruptcies up 15.5 pct in December
March 9th, 2010 by HardMoney Writer
German corporate bankruptcies rose in 2009 for the first time in six years, with filings up 15.5 percent on the year in December in the wake of recession, government data showed Tuesday.
The Federal Statistical Office said 2,583 companies filed for bankruptcy protection in the last month of 2009.
The year-on-year increase compared with a smaller 6.9 [...]
Tags: central bank, corporate bankruptcies, german bank, unemployment rate
AIG raising more cash to reimburse taxpayers
March 8th, 2010 by HardMoney Writer
American International Group will sell its overseas life and health insurance unit for $15.5 billion to MetLife Inc., the insurer said Monday, as it attempts to repay billions in government aid.
In the deal announced Monday, MetLife will pay $6.8 billion in cash, and the rest in stock and equity units.
The cash portion of the sale [...]
Tags: aig, american international group, business, Federal Reserve, taxpayers
Iowa economist predicts improvement by summer
March 6th, 2010 by HardMoney Writer
A leading economist who advises Gov. Chet Culver predicted Friday that Iowa’s economy will stay flat for much of the spring but should perk up by summer.
“I think we’re going to get through this,” said Charles Whiteman, a University of Iowa economist who sits on the governor’s Council of Economic Advisers. “I can see light [...]
Tags: businesses, iowa, iowa's economy, leading economist, tax collections
Fed emergency loans decline in most recent week
March 5th, 2010 by HardMoney Writer
Banks borrowed less from the Federal Reserve’s emergency lending program over the past week, providing further evidence that strains in the private credit markets are easing.
The Fed reported that daily borrowing from its emergency loan program averaged $13.77 billion for the week that ended Wednesday. That was down from average borrowing of $13.96 billion in [...]
Tags: banks borrowed, borrowing, central bank's, fed, federal reserve's, financial crisis, interest rate, lending
US private sector sheds 20,000 jobs in February
March 3rd, 2010 by HardMoney Writer
The US private sector shed the smallest number of jobs in two years in February, a payrolls firm said Wednesday in a report signaling a healing labor sector as the economy recovers from recession.
Non-farm private payrolls fell 20,000 in February on a seasonally adjusted basis, payrolls firm ADP said, matching the consensus forecast.
“The February employment [...]
Tags: economy recovers, households, recession, unemployment, us economic, us private sector
Obama won’t fill Fed seats this week
March 2nd, 2010 by HardMoney Writer
President Barack Obama wants to move quickly to fill vacancies on the Federal Reserve Board, but has made no decision yet and will not be announcing appointments this week, White House officials said on Tuesday.
Fed Vice Chairman Donald Kohn announced on Monday he will retire in June. His departure means Obama has three seats to [...]
Tags: barack obama, fed, Federal Reserve, us bank central, white house
January spending increases but income growth slows
March 1st, 2010 by HardMoney Writer
Personal spending jumped by a larger amount than expected in January but Americans’ incomes barely budged. The weak income growth could depress spending in the months ahead, acting as a further drag on the fragile economic recovery.
The Commerce Department said that personal spending rose by 0.5 percent in January, slightly better than expected. But incomes [...]
Tags: americans' incomes, commerce department, economic recovery, personal spending