New-home sales in U.S. drop to lowest level in five months

WASHINGTON – Sales of new U.S. homes declined more than projected in July to the lowest level in five months, indicating the industry is struggling to stabilize two years into the economic recovery. (18 secs ago)

Jobless Claims in U.S. Fell Last Week to Three-Month Low

Applications for unemployment benefits dropped last week to the lowest level since April, a sign the weakness in the labor market is fading. (45 secs ago)

If State Banks, Why Not County Banks?

If counties and states create their own banks, they could alleviate the credit crunch by doing what large private banks should have been doing for the country all along. (18 secs ago)

Young and restless in Spain as jobless rate soars

The first thing Silvia Huelves was told when she started studying architecture was that she should take up Chinese or Japanese – she was never going to build anything in Spain any time soon. (39 secs ago)

Consumer confidence reaches record lows

Consumer confidence deteriorated in February and has reached record lows, superseding levels seen during the recession. (14 secs ago)

Euro Rises Third Day on Prospects Asia Bond Buys to Stem Crisis

The euro rose for a third day against the dollar on speculation bond purchases by Asian nations will help stem a funding crisis in Europe. (31 secs ago)

Google finds rich tax loopholes

Tech titan pays 2.4% tax rate using ‘income shifting’ startegy (39 secs ago)

Ruble Currency Traders Capitulate as Bullish Bets Increase: Russia Credit

Foreign-exchange traders have capitulated on bets for a weaker ruble and are now more bullish on Russia than most emerging markets as Bank Rossii Chairman Sergey Ignatiev pushes appreciation to curb inflation while policy makers from Brazil to South Korea seek to stem gains. (37 secs ago)

Housing slump clouds US recovery prospects

WASHINGTON: US home sales are plunging despite rock-bottom mortgage rates as high unemployment prevents people from buying houses and threatens to curtail economy recovery. (37 secs ago)

Treasuries Rise as Slowdown Fuels Fed Purchase Speculation

Treasury 30-year bonds rose, pushing yields near a 16-month low, as investors sought the highest- returning U.S. debt amid speculation the weakening economic recovery may prompt the Federal Reserve to boost debt purchases. (25 secs ago)