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Economic Slowdown

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BUSINESS
July 28, 1989 | TOM REDBURN, Times Staff Writer
The U.S. economy slowed this spring to a 1.7% annual growth rate, the Commerce Department reported Thursday, and analysts predicted that economic activity probably will do little more than tread water over the next few months. The weak second quarter reflects lackluster consumer spending on big-ticket items such as automobiles and housing. The slowdown apparently came in response to the Federal Reserve Board's efforts to combat inflation by pushing up interest rates.
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WORLD
August 13, 2012 | By Vincent Bevins, Los Angeles Times
SAO PAULO, Brazil — If the Brazilian economic boom is over, that's news to Maria da Conceicao Souza, who is standing in the scorching winter sun in Paraisopolis, Sao Paulo's largest slum. In the last six months, Souza has been able to set up her own beauty salon in the favela , shortly after bagging her first real job in her 36 years. Business has been increasing steadily, she says, driven by customers from Brazil's new middle class, whose rise out of poverty has been one of the most potent symbols of the country's emergence as an economic power.
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WORLD
August 13, 2012 | By Vincent Bevins, Los Angeles Times
SAO PAULO, Brazil — If the Brazilian economic boom is over, that's news to Maria da Conceicao Souza, who is standing in the scorching winter sun in Paraisopolis, Sao Paulo's largest slum. In the last six months, Souza has been able to set up her own beauty salon in the favela , shortly after bagging her first real job in her 36 years. Business has been increasing steadily, she says, driven by customers from Brazil's new middle class, whose rise out of poverty has been one of the most potent symbols of the country's emergence as an economic power.
WORLD
July 30, 2012 | By Vincent Bevins
SAO PAULO, BRAZIL -- For a man who had just lost $6 billion in less than 24 hours, Eike Batista was curiously upbeat. Brazil's richest man took to Twitter, as he is wont to do, to send a message to his almost 1 million followers. "My fortune is in my assets, and since I didn't sell a single share, I didn't lose anything!" he tweeted early this month. Yes, it's true that the stock prices of his companies in oil, mining, gas and infrastructure could come back up. But it was their market value that until recently kept Batista at No. 7 on the Forbes list of the world's richest people, a position he relished.
BUSINESS
February 28, 2001 | Reuters
Japan's industrial production fell an unexpected 3.9% in January, the biggest decline in more than three years, the government said, providing the starkest evidence yet of a sharp economic slowdown spilling over from the United States and Asia. "It's a very bleak number. It's the first real sign we've got that the Japanese economy is slowing down very substantially," said Garry Evans, a strategist with HSBC Securities. Economists polled by Reuters had expected on average a rise of 0.
BUSINESS
June 10, 1998 | From Times Wire Services
Sales by U.S. distributors rose at their slowest pace in five months during April and inventories stopped rising, suggesting the second-quarter slowdown the Federal Reserve Board would like to see may be underway. In a separate report, a private employment group found that a surge in merger-related layoffs in the last two months could also foreshadow slowing. The report by Challenger, Gray & Christmas Inc.
CALIFORNIA | LOCAL
February 19, 2000
The county's booming economy could begin to lose steam in 2000, and businesses are bracing themselves for a potential slowdown by year's end, economists warned. Slowly rising inflation, particularly in oil prices, and possible interest rate hikes by the Federal Reserve Board have slightly dimmed the confidence of county businesses, and could slow the economy, according to some experts.
OPINION
February 25, 1996 | JOEL KOTKIN, Joel Kotkin, a contributing editor to Opinion, is a senior fellow with the Pepperdine University Institute for Public Policy and the Pacific Research Institute. He is also business-trends analyst for Fox TV
The slowing national economy threatens California's budding recovery. This time, a drastically more aggressive and positive response will be required if the state is to escape a downturn of its own. Although some indicators, including the stock market, remain relatively bouyant, there are numerous signs of an impending slowdown.
BUSINESS
October 15, 2001 | CHRIS KRAUL
Manufacturing output at Mexico's maquiladoras, the border plants that use low-cost labor to assemble products destined mainly for the U.S. market, fell 18% in August. Manufacturing overall in Mexico declined 6.3% compared with a year earlier. Mexico's manufacturers have been hard hit by the U.S. economic slowdown and the Sept. 11 terrorist attacks, which have caused demand to soften. Makers of autos and automotive parts, consumer electronics and equipment are especially affected.
CALIFORNIA | LOCAL
December 16, 2001 | From Associated Press
Most Californians think the state's economy is in a slump, but nearly half believe that it will perk up next year, according to a Field Poll released Saturday. The survey conducted by the Field Institute found that 51% of Californians describe the state as being in economic bad times. Meanwhile, 21% feel the state is in economic good times, and a quarter think California is between good and bad times, the poll found.
BUSINESS
July 27, 2012 | By Tiffany Hsu
The sunny weather in July isn't doing much for consumer sentiment - confidence is at the lowest level of the year, according to a new index compiled by Thomson Reuters and the University of Michigan. All sorts of factors are to blame: The hiring and wage deceleration in the U.S., the ripple effect of the malaise in Europe, the threat of a fiscal cliff of higher taxes and spending cuts along with the slowing gross domestic product reported Friday, and more. The monthly gauge in sentiment slipped 1.2% to 72.3 in July from 73.2 the previous month.
BUSINESS
November 10, 2011 | By Jerry Hirsch, Los Angeles Times
General Motors Co. saw its profit slide in the third quarter, hurt by losses in Europe and a slowing global economy. Although the nation's largest automaker has posted a string of seven consecutive profitable quarters, its earnings in the latest period fell 15% to $1.7 billion, or $1.03 per share, from $2 billion, or $1.20 a share, in the same period last year. Revenue rose 7.6% to $36.7 billion. "We produced a solid quarter generating our best results in North America and China, the world's most important auto markets and where GM is a market leader," said Dan Akerson, GM's chief executive.
WORLD
December 26, 2010 | By Anthee Carassava, Los Angeles Times
Just before dawn in New Jersey 40 years ago, Nick Paravalos jumped ship, sneaking toward an American dream that he had nurtured for decades, leaving Greece behind for good. Starting with $20 in his pocket, the Piraeus-born seaman began to bounce from job to job, washing dishes and busing tables for years before settling in upstate New York, marrying, and setting up the first of three diners in the sleepy town of Scotia. The tale is a template of the American promise of upward mobility, one that millions of hardworking immigrants have realized in the course of several generations.
BUSINESS
August 14, 2010 | Tom Petruno, Market Beat
Epic financial collapses are supposed to be rare events. Once in a lifetime, we all hope. And after you live through one, your investment decisions are forever colored by the experience. That explains many investors' extreme risk aversion since the markets' crash of late 2008. Now, the risk-averse are being forced to ponder whether they feel safe enough given what might be coming at them. At the depths of the recession it was more than rhetorical to ask, "What's the worst that could happen?"
BUSINESS
April 29, 2010 | Don Lee
A widening financial crisis in Europe is threatening to put a damper on the economic recovery here and abroad just as the American economy is gathering steam. A credit contagion that began in heavily indebted Greece spread Wednesday to Spain, whose economy is much larger than Greece's, as Standard & Poor's cut the Madrid government's credit rating, just one day after slashing Athens' bonds to "junk" status and downgrading Portugal's debt as well. European officials pledged Wednesday to act swiftly on a hefty package of loans for Greece, but skepticism remained that Germany, the continent's strongest economic power, would ultimately agree to the plan.
SPORTS
February 5, 2009 | Jim Peltz
It's unlikely the name Joseph Schumpeter is mentioned in the garages where crew members tune the expensive race cars of Dale Earnhardt Jr., Danica Patrick or John Force. But Schumpeter would have grasped better than most how the sport of auto racing is engulfed in financial turmoil as the 2009 season arrives. Schumpeter, an economist who died in 1950, two years after NASCAR was founded, coined the term "creative destruction."
BUSINESS
March 12, 2001 | JOYCE M. ROSENBERG, ASSOCIATED PRESS
A weaker economy doesn't necessarily mean it's a bad time to start or expand a business. It does mean entrepreneurs need to do some extra projections and soul-searching before making any big moves. "Even if you're in a declining economy, some industries will do well," said William Dunkelberg, chief economist with the National Federation of Independent Business. "Do your research carefully." "If you found an opportunity . . .
BUSINESS
November 27, 1990 | GREG JOHNSON, TIMES STAFF WRITER
Robert Gault, president of Sea World of California, knows that the San Diego aquatic park has developed a solid reputation among international tourists. During recent months, for example, an unexpected wave of Europeans bolstered attendance at a time when many cash-strapped Americans were staying at home. But Gault also knows that the park's fortunes are largely made or broken by Southern Californians who live just hours or minutes away from the park on Mission Bay.
BUSINESS
January 24, 2009 | Marc Lifsher and Nathan Olivarez-Giles
Unemployment in California rose sharply in December to 9.3%, its highest level in 15 years, as the state's jobless rolls swelled to 1.7 million. More than 78,000 people lost their jobs in December, and thousands more have received pink slips so far this month. Economists said layoffs were likely to remain heavy during the first half of 2009 and could reach as high as 11%.
BUSINESS
July 3, 2008 | Michael A. Hiltzik, Times Staff Writer
The Los Angeles Times on Wednesday announced plans to cut 250 positions across the company, including 150 positions in editorial, in a new effort to bring expenses into line with declining revenue. In a further cost-cutting step, the newspaper will reduce the number of pages it publishes each week by 15%. "You all know the paradox we find ourselves in," Times Editor Russ Stanton said in a memo to the staff.
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