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Thursday, May 31, 2012 2:51 pm
A five-year, $10 billion expansion in Port Arthur, Texas, has created the largest refinery in the country. But because the U.S. has become a net exporter of gasoline and the facility will contribute to that trend, analysts say the project won't have a big impact on national fuel prices.
Full ArticleFriday, June 1, 2012 10:28 am
While the Republican contender blames what he says are the administration's "failed" economic policies for weak job growth, the president says he headed off another Great Depression. It's the central debate of the 2012 campaign.
Full ArticleFriday, June 1, 2012 8:42 am
The treaty's approval relieves some pressure on European Union financial chiefs battling to contain the eurozone's debt crisis. But critics said the tougher deficit rules would do nothing to stimulate desperately needed growth.
Full ArticleFriday, June 1, 2012 8:04 am
May's higher unemployment rate and meager job creation couldn't have come at a worse time for the long-term unemployed. The unwelcome news arrives just as federal support for unemployment benefits is starting to fade.
Full ArticleFriday, June 1, 2012 6:34 am
Investors are reacting to the much-weaker-than-expected report on job growth in May.
Full ArticleFriday, June 1, 2012 6:16 am
It seems that Wall Street can't catch a break these days. Morgan Stanley's plan to move a portion of its derivatives portfolio into its bank subsidiary. Noam Sheiber of The New Republic notes that if the Dodd-Frank bill can stop the banks from risky moves like this, it will have been a good piece of legislation.
Full ArticleFriday, June 1, 2012 5:33 am
Both numbers are disappointments. Economists had expected BLS would say the jobless rate was 8.1 percent and that payrolls expanded by at least 150,000 jobs.
Full ArticleFriday, June 1, 2012 5:31 am
U.S. employers created 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up. The dismal jobs figures could fan fears that the economy is sputtering. The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months.
Full ArticleFriday, June 1, 2012 4:20 am
Citations issued by the Mine Safety and Health Administration (MSHA) say managers at one mine failed to evacuate a section that was enveloped in thick smoke generated by a malfunctioning conveyor belt. The company disputes that finding.
Full ArticleFriday, June 1, 2012 4:05 am
Economists expect to hear that a modest 150,000 jobs were added to payrolls last month and that the jobless rate stayed at 8.1 percent. They say employers just aren't adding jobs fast enough to bring unemployment down quickly.
Full ArticleFriday, June 1, 2012 2:00 am
Three years ago this month, the recession ended and the recovery began. Here's a look at how the job market fared in the recession and the recovery.
Full ArticleFriday, June 1, 2012 1:00 am
Head of the European Central Bank Mario Draghi says the financial crisis has exposed the inadequacy of the euro monetary union. The head of the European Central Bank says flaws in the system need to be fixed.
Full ArticleFriday, June 1, 2012 1:00 am
Rhode Island officials are wrestling with the meltdown of a video game company that was meant to bolster the economically depressed state. Former Red Sox star Curt Schilling blames the state for not keeping his company afloat. About 400 workers lost their jobs, and taxpayers are on the hook for close to $100 million.
Full ArticleFriday, June 1, 2012 1:00 am
Ben Fritz, a business reporter for the Los Angeles Times, talks to David Greene about what was gearing up to be the biggest lawsuit in the history of the video game industry. The creators of the Call of Duty franchise and the games' publisher were suing each other in suits totaling more than $2 billion. The trial was to start Friday in Los Angeles, but the parties settled at the last minute.
Full ArticleFriday, June 1, 2012 1:00 am
The unemployment in Michigan is dropping as the auto industry rebounds, and the state has a budget surplus for the first time in many years. But many local leaders say they're not seeing a comeback. They believe state leaders are helping themselves — and the business community — at the expense of the well-being of cities.
Full Article