Food stamp recipients will see a cut in their benefits starting Friday. For the hungry and unemployed, more cuts may be coming. That's a challenge for the affected families, but it could also be a drain on the broader economy.
Starbucks, which revolutionized the coffee industry, is now taking on tea. It has opened its first tea bar, and it's creating mixed tea beverages, some even more complex and customized than the coffee beverages we all know.
This first store, on Madison Avenue in Manhattan, has minimalist decor: gray soft seats, charcoals, chestnut browns. Teavana teas line one wall. Beakers filled with colored liquids greet you at the entrance.
Acura MDX sport utility vehicles roll off the assembly line at a Honda plant in Lincoln, Ala., in May. Overseas investors have U.S. assets totaling nearly $4 trillion, including auto plants, banks and mines.
Originally published on Fri November 1, 2013 11:44 am
When many Americans hear the word "globalization," they think: "jobs going overseas."
And sometimes it does mean just that.
But as globalization knits nations closer together, foreign companies increasingly are creating jobs in the United States, not luring them away. Despite the Great Recession, slow recovery and political dysfunction in Washington, the United States remains a top destination for the world's wealth.
With economic uncertainties in Washington, how is big business planning for the future? Robert Siegel talks to Delta Airlines CEO Richard Anderson about whether he's planning to grow his company or put off investments until the economy evens out.
Housing has been one of the bright spots in the economy this year. This week, a report showed that home prices in the top 20 cities continued their robust upward march in August. There are also far fewer foreclosure sales and other signs of distress in the market.
But the Federal Reserve expressed concern Wednesday about the slowing housing market. Pending home sales fell far more than expected. And housing experts are bracing for some volatility.
Batista appears with Brazilian President Dilma Rousseff during a ceremony in celebration of the start of oil production by OGX, Batista's oil and gas company, in 2012. The company filed for bankruptcy Wednesday.
Credit Sergio Moraes / Reuters/Landov
Brazilian billionaire Eike Batista gives a thumbs up in better days.
Saying it has "determined that airlines can safely expand passenger use of Portable Electronic Devices (PEDs) during all phases of flight," the Federal Aviation Administration announced Thursday that it is advising airlines they can let fliers use their much-loved e-books, tablets and other handhelds "gate-to-gate."
Cellphone calls, however, would still be prohibited.
Nintendo, the world's largest video game company, reported its third quarterly net loss in a row — the latest was just over $81 million. The Wii U gaming console's disappointing sales are the main culprit. It has sold just 5 percent of what Nintendo had projected a year ago.
Pulp-fiction writer Howard Phillips "H.P." Lovecraft has for decades terrified an underground following of readers with horror stories about monsters and aliens. He's known to some as a bad writer, and to many as a racist. Even during the author's lifetime, his readership was limited.
To the long list of problems plaguing HealthCare.gov, add data security. The enrollment site for the new health insurance exchanges had a security flaw that didn't get patched up when the exchange marketplace went live.
Against the backdrop of big uncertainties business are facing — everything from the future of fed policy and leadership and gridlock in Washington to the effects of Obamacare, inflation and unemployment — Robert Siegel talks with Pat Meyer, president and CEO of windows and doors maker Pella Corporation for an on-the-ground sense of how businesses see these uncertain economic times.
Federal Reserve policymakers wrapped up their two-day October meeting Wednesday by announcing that they will maintain the Fed's $85 billion per month bond purchase program. The central bank's statement said that conditions in the labor market have "improved" and inflation is modest. But, in explaining the decision to maintain the stimulus, the statement pointed to a slowing housing market and said that fiscal policy is "restraining economic growth."
The latest complaints about the health law center around the question of whether you can keep your current health plan if you like it. There actually are rules associated with the law that try to protect that right. Here's a primer on those rules.
Gas prices are down more than 7 percent from last year. Grocery costs haven't budged lately. And — just in time for Halloween — the price of candy is down 2.3 percent from last year, according to the government's consumer price index released Wednesday.
Originally published on Wed October 30, 2013 1:36 pm
The Federal Reserve's message, at least for now, is to take a wait-and-see approach to the economy before tapering off on its bond-buying program.
In a statement issued after Wednesday's meeting, the Federal Open Market Committee said that while it has seen signs of "growing underlying strength in the broader economy" it awaits "more evidence that progress can be sustained."