Business News

Stocks pull back on disappointing jobs report

AP - 11 minutes ago

NEW YORK - Wall Street fell for a second straight session Friday following a worrisome reading on the nation's job market, but stocks pulled off of steep losses as investors sought bargains in sectors like financials and consumer staples.

Economy News

  • The dollar struck a near 11-month high versus the euro on news of slumping industrial output in Germany, Europe's biggest economy, and as the market awaited key US jobs data(AFP/Getty Images/File/Annie Tritt)
    Jobless rate jumps to 5-year high of 6.1 percent AP - 1 hour, 54 minutes ago

    WASHINGTON - The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

  • Summary Box: Jobless claims jump, productivity up AP - Thu Sep 4, 3:26 PM ET

    JOBLESS CLAIMS JUMP: The number of people filing new claims for unemployment benefits rose 15,000 to 444,000 last week. Economists expected that number to drop.

  • Productivity up strongly while labor costs dip AP - Thu Sep 4, 9:12 AM ET

    WASHINGTON - Americans' productivity soared in the spring while labor costs declined, two welcome outcomes that should relieve concerns that inflation is getting out of hand.

  • ECB, BoE expected to leave interest rates steady AP - Thu Sep 4, 12:02 AM ET

    FRANKFURT, Germany - The European Central Bank and Bank of England will likely leave interest rates unchanged on Thursday as they face mounting inflation and slowing growth.

  • In this July 1, 2008 file photo, construction crews work on a huge commercial residential and retail complex in Richmond, Va. Construction spending took a bigger-than-expected tumble in July as housing activity dropped to the lowest level in seven years and nonresidential activity fell for the first time in seven months, the Commerce Department announced Tuesday, Sept. 2, 2008.  (AP Photo/Steve Helber, file)
    Construction spending fell 0.6 percent in July AP - Tue Sep 2, 10:28 AM ET

    WASHINGTON - Construction spending took a bigger-than-expected tumble in July as housing activity dropped to the lowest level in seven years and nonresidential activity fell for the first time in seven months.

Stock Markets News

  • Glenn Carell of Bear Wagner Specialists works on the floor of the New York Stock Exchange, Friday, Sept. 5, 2008 in New York. Selling swept across Wall Street for a second straight session on news that the economy shed jobs for the eighth straight month in August and at a faster-than-expected pace. (AP Photo/Henny Ray Abrams)
    Stocks pull back on disappointing jobs report AP - 11 minutes ago

    NEW YORK - Wall Street fell for a second straight session Friday following a worrisome reading on the nation's job market, but stocks pulled off of steep losses as investors sought bargains in sectors like financials and consumer staples.

  • Traders work on the floor of the New York Stock Exchange, June 24, 2008. (Brendan McDermid/Reuters)
    Wall Street flat as financials offset weak data Reuters - 24 minutes ago

    NEW YORK (Reuters) - U.S. stocks were little changed in volatile trade on Friday as a bounce in financial shares offset concerns about the economy after a bleak labor market report.

  • A Toronto Stock Exchange (TSX) logo is seen in Toronto in this November 9, 2007 file photo. REUTERS/Mark Blinch
    Stocks drop 200 points on jobs data, oil Reuters - 1 hour, 7 minutes ago

    TORONTO (Reuters) - Toronto's main stock market index extended its losses on Friday as disappointing U.S. jobs data and falling oil prices weighed on the market.

  • People walk past the London Stock Exchange. The FTSE ended the week sharply lower, with miners suffering the biggest losses amid ongoing concerns over the global economy and disappointing US jobless data.(AFP/File/Shaun Curry)
    London shares end week sharply lower AFP - 1 hour, 55 minutes ago

    LONDON (AFP) - The FTSE ended the week sharply lower Friday, with miners suffering the biggest losses amid ongoing concerns over the global economy and disappointing US jobless data.

  • Pedestrians are reflected on an electronic stock indicator in Tokyo on Friday, Sept. 5, 2008. The benchmark Nikkei 225 index lost 319.05 to close the morning session at 12,238.61. At one point, the Nikkei index lost 371.19. (AP Photo/Koji Sasahara)
    World markets sink after Wall Street plunge AP - Fri Sep 5, 9:20 AM ET

    LONDON - World stock markets fell sharply Friday in the wake of a sell-off on Wall Street amid mounting concerns about a slumping U.S. economy and its impact on global growth.

Earnings News

  • National Semi earnings down on tax rate AP - Fri Sep 5, 9:51 AM ET

    SANTA CLARA, Calif., - National Semiconductor Corp., which makes chips that regulate power and perform other functions in gadgets, reported Friday its first-quarter profit fell 7 percent from a year ago due to a higher tax rate.

  • Solar Panel Prices Might Not Decline As Much As Thought Investor's Business Daily - Thu Sep 4, 6:01 PM ET

    In the recent round of earnings reports, a number of solar industry executives said solar panel demand and prices next year might hold up better than expected.

  • SeaChange's 2Q beats Wall Street views by 2c AP - Thu Sep 4, 5:59 PM ET

    WASHINGTON - SeaChange International Inc. reported fiscal 2009 second-quarter results that beat Wall Street's estimates late Thursday.

  • 'Grand Theft Auto IV' video game boxes are displayed on a rack inside a GameStop store in New York prior to the midnight release of the video game April 28, 2008. (Lucas Jackson/Reuters)
    Take Two profits strong on "Grand Theft Auto" lift Reuters - Thu Sep 4, 5:56 PM ET

    SAN FRANCISCO (Reuters) - Video game publisher Take Two Interactive Software made a higher-than-expected quarterly profit on strong "Grand Theft Auto 4" sales, but cut its current-quarter outlook due to the delayed release of a new game.

  • Toll Brothers posts 3Q loss as revenue falls AP - Thu Sep 4, 5:29 PM ET

    LOS ANGELES - Toll Brothers Inc. said Thursday it swung to a loss in its fiscal third quarter as weak demand for new homes forced the luxury builder to mark down the value of its land and unsold homes.

Industries

  • The logo of Indian carmaker Tata Motors at a motor show in Geneva. Talks on Friday between India's West Bengal government and protesters aimed at rescuing a factory slated to make the world's cheapest car ended without a breakthrough, an official said.(AFP/File/Fabrice Coffrini)
    Talks held to rescue India's cheap-car plant, more planned AFP - 1 hour, 54 minutes ago

    KOLKATA, India (AFP) - Talks on Friday between India's West Bengal government and protesters aimed at rescuing a factory slated to make the world's cheapest car ended without a breakthrough, an official said.

  • Honda to Bring Back Insight Hybrid PC Magazine - Thu Sep 4, 7:24 AM ET

    Honda will reveal a concept version of its new small hybrid vehicle, to be named Insight, at the 2008 Paris International Auto Show, October 2, the company announced Thursday.

  • FDA posts list of potential problem drugs AP - 31 minutes ago

    WASHINGTON - The government on Friday began posting a list of prescription drugs under investigation for potential safety problems, in an effort to better inform doctors and patients.

  • A pharmacist in a file photo. (Mark Blinch/Reuters)
    Expensive ads sell few prescription drugs: study Reuters - Mon Sep 1, 7:07 PM ET

    WASHINGTON (Reuters) - Expensive advertising of prescription drugs directly to consumers may do little to encourage sales, U.S. and Canadian researchers reported on Monday.

  • Vodafone To Resell Dell's Inspiron Mini 9 Netbook NewsFactor - 1 hour, 54 minutes ago

    Just one day after Dell announced it was moving into the market of netbooks by introducing its new Inspiron Mini 9, which weighs less than 2.3 pounds and has an 8.9-inch LED display, the company said it is partnering with Vodafone to resell the Mini 9 in Europe.

Opinion

  • Republican presidential nominee John McCain and his wife Cindy McCain stand on the stage following his speech at the Republican National Convention in St. Paul, Minn., Thursday, Sept. 4, 2008.  (AP Photo/Jae C. Hong)
    McCain Woos the Undecided BusinessWeek Online - Fri Sep 5, 8:08 AM ET

    Well, it didn't have quite as many fireworks as Senator Barack Obama's performance in Denver last week -- either the real kind or the rhetorical kind. And it lacked the dramatic tension of the national debut of Republican Vice-Presidential nominee Sarah Palin. But in a low-key, at times passionate, speech on Sept. 4, Senator John McCain officially joined the fight against Obama as he accepted the nomination to become his party's standard bearer before an enthusiastic crowd at the Xcel Energy Center in St. Paul, Minn.

  • Where Homes Are Selling Fastest BusinessWeek Online - Fri Sep 5, 8:08 AM ET

    Houses in Sunnyvale, Calif., home to companies such as Juniper Network (NasdaqGS:JNPR - News), AMD , and Yahoo! (NasdaqGS:YHOO - News), are typically on the market for 66 days, making it the fastest-selling real estate market in the country. That's the good news. The bad news is that listings a year ago in the affluent Silicon Valley suburb normally sold after just 31 days on the market.

  • The Best Places to Launch a Career BusinessWeek Online - Fri Sep 5, 8:08 AM ET

    As career choices go, the hotel business isn't one that will put new college grads on the path to riches. With few exceptions, new employees can expect an annual salary of less than $40,000, a figure that has barely budged in recent years. So when Marriott International visited the University of Delaware campus on a recruiting trip, it didn't wave a big wad of cash in front of Claire Pignataro. It didn't have to. It had already hooked her with something she considered far more valuable: a chance to help run a hotel.

Most Popular Business News

  • Jobless rate jumps to 5-year high of 6.1 percent AP - 1 hour, 54 minutes ago

    WASHINGTON - The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

  • In this May 9, 2008 file photo, a foreclosure sign stands outside an existing home on the market in Denver. A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount, the Mortgage Bankers Association said Friday, Sept. 5, 2008. (AP Photo/David Zalubowski, file)
    Home loan troubles break records again AP - 1 hour, 2 minutes ago

    WASHINGTON - More than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis worsened, the Mortgage Bankers Association said Friday.

  • Chris Kalodis of Labranche & Co., watches early trading  from the floor of the New York Stock Exchange, Friday, Sept. 5, 2008, in New York. Selling swept across Wall Street for a second straight session on news that the economy shed jobs for the eighth straight month in August and at a faster-than-expected pace. (AP Photo/Henny Ray Abrams)
    Stocks pull back on disappointing jobs report AP - 11 minutes ago

    NEW YORK - Wall Street fell for a second straight session Friday following a worrisome reading on the nation's job market, but stocks pulled off of steep losses as investors sought bargains in sectors like financials and consumer staples.

  • A Dell laptop computer is seen in New York August 26, 2008. (Brendan McDermid/Reuters)
    Dell plans to sell computer factories: report Reuters - Fri Sep 5, 3:12 AM ET

    (Reuters) - Dell Inc is trying to sell computer factories around the world in efforts to cut cost and improve profitability, the Wall Street Journal said.

  • The U.S. unemployment rate unexpectedly shot up to 6.1 percent in August, its highest in more than 4-1/2 years, as employers cut payrolls for an eighth straight month and labor markets showed signs of accelerating decline. (Graphic/Reuters)
    Jobless rate at 5-year high Reuters - 41 minutes ago

    WASHINGTON (Reuters) - An unexpectedly steep 84,000 U.S. jobs were lost in August and the unemployment rate hit a five-year high of 6.1 percent, fanning worry ahead of November's presidential vote that the economy was near recession.