May 24, 2012 |
We knew it was bad, but news out from across the pond indicates that uncertainty in Europe might be slamming the economy there even more than had been thought. Revised data show that Britain's gross domestic product contracted more than previously believed in the first quarter, indicating that its economy not only entered a double-dip recession earlier this year, but that the drop was also deeper than expected. Britain's GDP fell by 0.3% in the first quarter, the Office for National Statistics said, and output in production industries fell by 0.4%.
July 24, 2010 |
They don't seem too worried about a "double dip" global recession in Germany, the world's second-largest exporter. The country's stock market has rallied back to within 3% of its spring high. In Indonesia, the fourth-largest nation by population, the economy is so good that the stock market already has recouped all its 2008 decline and this week hit a new all-time high. On Wall Street, even as fears about the domestic economy have deepened over the last two months, the interest rates that investors have been demanding to lend money via "junk" corporate bonds have fallen — which isn't what you'd expect if the bond buyers figured another economic downturn was just around the corner.
August 22, 2012 |
WASHINGTON - Republican lawmakers investigating the Fast and Furious program want to know why a top official who oversaw the failed gun-tracking operation was allowed to stay on paid leave while taking a second full-time job in the private sector - an arrangement that is netting him two six-figure salaries. William McMahon, then the deputy assistant director for field operations for the federalBureau of Alcohol, Tobacco, Firearms and Explosives, supervised the Phoenix-run Fast and Furious program, which allowed weapons to be illegally sold so they could be tracked to Mexican drug cartels.
September 30, 2002 |
The barrage of economic reports due this week is likely to steal the spotlight as investors search for signs that the dreaded "double dip," when the economy falls back into recession for a second time in quick succession, is at bay. The head of an elite panel that decides U.S. business cycles said the recession may have ended as early as last November, but his group won't formally declare it over until it rules out a renewed slump.
March 30, 1985 |
The NCAA Basketball Championship numbers game is down to four today, or "The Final Four," as the scribes like to dramatically label it. CBS covers the action from Rupp Arena in Lexington, Ky., beginning at 12:30 p.m., Channels 2 and 8, with the first semifinal featuring the Villanova Wildcats (23-10) vs. the Memphis State Tigers (31-3). That will be followed by the other semifinal, pitting the Georgetown Hoyas (34-2) against St. John's (31-3).
July 2, 2010 |
A fresh batch of weak economic news Thursday heightened concerns about the staying power of the fledgling recovery, with more uninspiring news expected Friday when the government reports on the May job market. FOR THE RECORD: This article incorrectly says the government will report on the May job market Friday. It will report on the June job market. The number of pending home sales plunged 30% in May from April, to the lowest level since at least 2001, an industry group reported Thursday, reflecting a larger-than-expected fallout from the expiration of the federal tax credit for home buyers.