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U.S. automakers rebounded in July to boost factory production by the most since the Japan crisis. But builders broke ground on fewer single-family houses, leaving home construction at depressed levels. The mixed data suggest the economy remains fragile but is not on the cusp of another recession. Overall industrial production, which includes output by utilities,… Continue Reading Automakers rebound in July to lift factory output

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After calamitous losses on Wall Street and fears of another recession, the economy got a dose of good news Thursday: The number of people applying for unemployment benefits fell below 400,000 for the first time since April. Layoffs are easing in most states, and some economists are predicting mild improvement in job growth. The brighter… Continue Reading 4-month low in unemployment claims eases fears

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Wall Street’s wildest week since 2008 continued with another 300-point move for the Dow on Thursday. This time, stocks shot up after investors saw small signs that the economy isn’t headed into another recession. Fewer Americans joined the unemployment line last week and a technology bellwether said revenue could grow faster this quarter than analysts… Continue Reading Stocks rise on small but positive economic signs

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Stocks resume sell-off; Dow finishes down 519

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Back to reality for the stock market — and back down. Wall Street focused Wednesday on the bleak landscape ahead for the economy and sold off, wiping out the big gains from a day earlier and then some. The Dow Jones industrial average closed down 519 points. The selling was intensified by worries about debt… Continue Reading Stocks resume sell-off; Dow finishes down 519

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The weak economy is hitting Americans where they spend a lot of their free time: at the TV set. They’re canceling or forgoing cable and satellite TV subscriptions in record numbers, according to an analysis by The Associated Press of the companies’ quarterly earnings reports. The U.S. subscription-TV industry first showed a small net loss… Continue Reading Pay TV industry loses record number of subscribers

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Dollar declines as Fed policymakers meet

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The dollar is dropping as U.S. Federal Reserve policymakers are meeting. UBS analyst Chris Walker says that given the recent fears that the chance of a recession has increased, investor expectations have grown that there could be a significant policy announcement from the Fed. He says UBS economists don’t expect a big rescue effort, however.… Continue Reading Dollar declines as Fed policymakers meet

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The Greater Colorado Springs Chamber of Commerce and the Economic Development Corp. are working on a merger deal, discussing how the merged organization might be structured and possibly who its president and CEO should be. Who do you think should lead the organization? Leave a comment below.

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U.S. stock futures tumbled Monday amid a rout in global stocks after Standard & Poor’s downgraded the U.S. credit rating for the first time. S&P cut the long-term debt rating for the U.S. by one notch to AA+ from AAA late Friday. The move wasn’t unexpected, but it comes when investors are already feeling nervous… Continue Reading US stock futures tumble after S&P downgrade of US

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Hiring picked up slightly in July and the unemployment rate dipped to 9.1 percent. The modest improvement may quiet fears of another recession, but it wasn’t enough to prevent another losing day on Wall Street. Employers added 117,000 jobs last month, the Labor Department said Friday. That’s better than the past two months, which were… Continue Reading Unemployment rate dips, economy adds 117K jobs

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Unemployment remains stubbornly high at just over 9 percent, but it’s the alarming number of long-term jobless that is causing fresh concern for Democratic lawmakers. About 42 percent of the nation’s 14.1 million unemployed have been out of work for at least six months, and nearly one in three has been jobless more than a… Continue Reading Dems warn long-term jobless could derail recovery

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