Economy and Politics
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Reuters
Shout-out for the auto industry President Barack Obama, touring a Chrysler assembly plant, does some cheerleading for an industry that got a big helping hand early in his administration.
• PMI survey: Rebound in Chicago factory activity
consumers
Feeling less confident
Americans are antsy about both their own financial situations and the macroeconomic picture.
• Sentiment data punctuate jittery mood
Slowdown signal
The initial reading of gross domestic product for the second quarter shows U.S. economic growth rising by 2.4%, slightly less than forecast.
• Rounding up reactions to GDP
'Lost decade' redux?
The U.S., warns St. Louis Fed president James Bullard, runs the risk of falling into deflation — a price-shrinking economy — the same type of trap that ensnared Japan during its so-called "lost decade."
• Anecdotal evidence of a sputtering recovery
Likely to turn
off the spigots
The Wyly brothers have denied the SEC's charges of insider trading. But the charges alone may be enough to leave them less inclined to make campaign contributions from here on.
• Reformers suffer setback
House vote looms on drilling
Against the backdrop of the Gulf of Mexico oil spill, Democrats and Republicans take up legislation on offshore drilling — including scrapping a $75 million cap on damages.
• Senate bill hits a roadblock
Democrats and the Bush tax cuts
The congressional debate taking shape over extending tax cuts is an ideological fight that the GOP will win, says Darrell Delamaide.
• Ethics trial for Rangel
Community bank lending bill block
Senate can't muster, at least for now, the votes to move forward on a bill that would set up a $30 billion fund to help community banks lend to small businesses.
Rep. Maxine Waters of California could become the second Democrat to face an ethics trial in the fall after she reportedly declined to strike a deal with congressional investigators.
On July 30, a story misspelled one of the locations where the Wyly brothers were alleged to have traded stock illegally.
Economy and Politics Headlines
Economic growth in the U.S. during the second quarter slowed to 2.4%, indicating that the recovery has been weaker than previously expected. David Wessel, Dennis Berman and Evan Newmark discuss. Also, Dennis Berman tells the story about one of the leaders at Tiananmen Square who is now one of the top candidates to manage Berkshire Hathaway's investment portfolio.
The unemployment rate across the 16-nation euro zone holds steady at 10% in June, where it’s stood since March.
5:45 a.m. July 30, 2010The International Monetary Fund says an economic recovery is 'underway' in the United States, but the country’s ability to manage its growing public debt has become a major challenge.
1:02 a.m. July 30, 2010A series of Japanese data contain good and bad news, with worse unemployment and industrial output than expected, but surprisingly strong household spending, and deflation roughly in line with forecasts.
8:12 p.m. July 29, 2010The government will release data Friday that will shed light on whether the economy is on a path for sustainable growth, or may be in danger of slumping into a double-dip recession.
5:33 p.m. July 29, 2010If she wins in November, the Golden State would be represented by one of the most controversial Silicon Valley leaders in recent years.
3:08 p.m. July 29, 2010Experience heading an Internet highflier may not necessarily work well in a new role as chief executive of one of the country’s most troubled states.
3:07 p.m. July 29, 2010The number of people applying for initial state unemployment insurance benefits fell 11,000 to 457,000 in the week ended July 24, the Labor Department reported Thursday.
8:49 a.m. July 29, 2010Video
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