December 19, 2013 |
Trinkel De La Paz, 24, loves this holiday's deep discounts because they're enabling her to be a more generous Santa. To herself, that is. The Silver Lake graphic designer bought herself an iPad mini and some clothes discounted on Cyber Monday, and she's not done. De La Paz said she feels free to splurge on herself because she has extra money from a recently landed job, a new apartment waiting to be spruced up and only one present to buy for her family's Secret Santa exchange.
November 20, 2013 |
The Black Friday shopping rush may be slightly less of a nail-biter for retailers after government data showed better-than-expected sales in October. Retail sales jumped 0.4% last month, the U.S. Census Bureau said Wednesday, handily exceeding the 0.1% month-over-month increase anticipated by economists surveyed by Bloomberg. And the September performance, which caused deep concern when initially reported as a 0.1% decline, was revised up to reflect no change. In total, October sales reached $428.1 billion, a 3.9% boost from October 2012.
November 17, 2013 |
SANTIAGO, Chile - Buoyed by personal popularity and her promise to rewrite Chile's Constitution, Michelle Bachelet surged to the top in Sunday's first round of voting to elect a new president, but fell short of enough votes to avoid a runoff. With nearly all ballots counted, Bachelet, a pediatrician and former president, was far ahead of eight other candidates, but, at 47%, was below the simple majority needed for an outright victory. In a distant second place was economist Evelyn Matthei, a former labor minister in President Sebastian Pinera's government.
October 23, 2013 |
Spain pulled out of two years of recession in the third quarter, news that should give a boost to the efforts of its prime minister to repair the nation's economy though tax increases and spending cuts. The Bank of Spain said Wednesday that gross domestic product grew 0.1% in the third quarter, compared with a 1.2% drop in the same period a year ago. The news, while positive, has been viewed skeptically by some economists who point out the Spanish economy has slipped more than once into recession in the last five years.
October 14, 2013 |
The question seems simple, but shedding light on the answer was worth a Nobel Prize for three American economists: How do we know how much an item is worth? Eugene F. Fama and Lars Peter Hansen of the University of Chicago and Robert J. Shiller of Yale University spent decades working on that problem, separately pioneering two competing views on finance that have strongly influenced the way people save and invest as well as major issues in public policy. Fama, 74, spent a five-decade career in Chicago demonstrating how well free markets can determine the value of stocks, bonds and other assets.
October 10, 2013 |
The Federal Reserve appeared poised a few weeks ago to start pulling back on its unprecedented support for the economy, but surprisingly stopped short out of fear the recovery still was too fragile. That was before the budget stalemate boiled over in Washington. Now, with the federal government partially shut down and a looming debt-limit deadline threatening financial market chaos, analysts said it's highly unlikely that Fed policymakers will reduce their stimulus efforts when they meet at the end of this month.