Wednesday, 08 April 2009
-
Summiteers OK big loans, no econ rescue stimulus
Anxiously assembled at the most perilous moment for the global economy since the Great Depression, the world's financial powers pledged hundreds of billions of dollars for emergency loans to combat spreading chaos. But they rebuffed President Barack Obama's bid for new stimulus spending and made no guarantees.Among the initiatives by the Group of 20 industrial and developing countries: a pledge of $1.1 trillion for lending to less-well-off countries and promises of tighter regulation over financial high-flyers in the U.S. and other rich nations.
Signs recession nears bottom, but layoffs persist
WASHINGTON (AP) -- New signs that the recession could be nearing a bottom emerged Thursday, as factory orders were far better than expected.
The Commerce Department said orders for manufactured goods rose 1.8 percent in February, reversing six straight monthly declines and easily beating estimates of another drop. Other economic indicators came in better than expected Wednesday, including construction spending and pending home sales.
Still, the job situation remains grim. Traditionally, the labor market doesn't pick up until well after a recovery has started.
Resources for
-
recommend
- recs 0
-
share
-
email
- sent 0
Post a Comment