AP
Business News - AP

Economic recovery likely not quite that energetic

1 hour, 48 minutes ago

WASHINGTON - Remember the economy's return to growth last quarter? Well, it probably wasn't as energetic as first thought.

  • Phones hang from a trading terminal on the floor of the New York Stock Exchange, May 19, 2009. REUTERS/Shannon Stapleton
    Asia markets lower amid China warning to banks 1 hour, 6 minutes ago

    BANGKOK - Asian stock markets retreated Tuesday as China's warning to banks to control their lavish lending underlined the risks to an economic recovery driven by easy credit. European shares were lower.

  • Oil prices retreated on Thursday one day after news of falling US energy inventories had sent them spiking above 80 dollars.(AFP/Getty Images/File/David McNew)
    Oil slips to near $77 amid mixed demand signals 1 hour, 7 minutes ago

    SINGAPORE - Oil slipped to near $77 a barrel Tuesday in Asia amid mixed signs about the global economy and crude demand.

  • Govt issues record 2.1M recall for dropside cribs 1 hour, 53 minutes ago

    WASHINGTON - More than 2.1 million drop-side cribs by Stork Craft Manufacturing are being recalled, the biggest crib recall in U.S history, following reports of four infant suffocations.

  • Strong banks, weak credit: Treasury rethinks TARP 1 hour, 43 minutes ago

    WASHINGTON - Big banks are roaring back. At crisis' edge last year, they are repaying billions of dollars dumped into their vaults to rescue them. Dividend checks are accumulating at the Treasury. Taxpayers won't recoup the full sum of the government's unprecedented infusion to the financial sector, but the returns are ahead of schedule.

  • FILE - In this March 8, 2009 file photo, the Hewlett-Packard Co. facility in Palo Alto, Calif., is shown. Hewlett-Packard Co. releases quarterly earnings after the market close Monday, Nov. 23, 2009. (AP Photo/Paul Sakuma, file)
    HP profit jumps on cost cuts, new market expansion Tue Nov 24, 12:03 AM ET

    SAN FRANCISCO - Hewlett-Packard Co.'s cost-cutting and push into new markets is helping soften the blow from weakness in the company's mainstay businesses.

  • FILE - These Oct. 28, top, and Oct. 29, 2009, file photos show copies of the House version of the health care bill held during two Capitol Hill news conferences: above, Rep. John Shadegg, R-Ariz., holds a copy in a binder, below, Republican House Minority Leader John Boehner of Ohio, left, stands behind a loose copy of the bill, which appears to have doubled in size from the previous day.  (AP Photo/Files)
    Spin meter: Legislation inflation grips GOP 1 hour, 56 minutes ago

    WASHINGTON - Republicans love to get their hands on the Democrats' health care legislation. They show it to the cameras at every opportunity, even piling one version on top of another to make a big pile look even bigger.

  • Specialists work on the floor of the New York Stock Exchange Monday, Nov. 23, 2009. Investors halted the stock market's three-day losing streak Monday, buying on a range of factors including the weaker dollar and better-than-expected home sales numbers. (AP Photo/Richard Drew)
    Weak dollar, home sales data carry stocks higher Mon Nov 23, 6:02 PM ET

    NEW YORK - The stock market ended a three-day losing streak Monday, closing broadly higher as a weaker dollar and upbeat home sales numbers encouraged investors to take on more risk.

  • FILE - In this Nov. 19, 2009 file photo, shoppers prepare to load their car with purchases from a Kmart store in Somerville, Mass. This week, which will be abbreviated due to Thanksgiving, investors will look to reports on home sales, unemployment and consumer confidence and the start of the holiday shopping season on Friday for more insight into the direction of the economy. (AP Photo/Elise Amendola, File)
    AP-GfK Poll: Debt turning shoppers into Scrooges Mon Nov 23, 9:30 PM ET

    WASHINGTON - A lot more Americans are feeling stressed out by debt this holiday season, raising the glum likelihood they'll behave like Scrooge rather than Santa.

  • Defense Secretary Roberty Gates, third from left, watches as President Barack Obama speaks during a meeting with members of his Cabinet in the Cabinet Room of the White House in Washington, Monday, Nov. 23, 2009. Also seated at the table are Secretary of Sate Hillary Rodham Clinton, left, Commerce Secretary Gary Locke, second from right, and Transportation Secretary Ray LaHood, right. (AP Photo/Susan Walsh)
    Obama: US economy has 'core strengths' Mon Nov 23, 7:11 PM ET

    WASHINGTON - President Barack Obama said Monday the nation's economy is in good shape for the long term thanks to "core strengths" such as its universities, its innovation and a dynamic workforce.

  • In this photo made Wednesday, Oct. 28, 2009, a Tyson Foods, Inc., truck is parked at a food warehouse in Little Rock, Ark. Tyson Foods, the world's largest meat producer, said Monday, Nov. 23, 2009, it lost money in its fiscal fourth quarter primarily on a hefty goodwill impairment charge.(AP Photo/Danny Johnston)
    Tyson Foods posts 4Q loss on beef charge Mon Nov 23, 5:19 PM ET

    MILWAUKEE - Tyson Foods Inc. said it made strides in the meat business this year and predicts more improvements next year, but analysts worry the company's all-important chicken business is lagging others in the industry.

  • Job seekers look over a list of jobs at an employment center in San Francisco, California November 20, 2009.  California's unemployment rate for October hit 12.5 percent, as the pace of job losses slowed in many U.S. states. REUTERS/Robert Galbraith  (UNITED STATES BUSINESS EMPLOYMENT)
    Economic survey: Job losses to bottom out in 1Q Mon Nov 23, 2:14 PM ET

    Economists expect the joblessness that has weighed down the nation's economic recovery will start to slowly abate in 2010, but they predict consumers will continue to keep a tight rein on spending, according to a new survey.

  • In this Oct. 14, 2009 photo, an air conditioner coil that has some corrosion at the home of James and Maria Ivory in Punta Gorda, Florida. The federal government says it finds a 'strong association' between problematic imported Chinese drywall and corrosion of pipes and wires, a conclusion that supports complaints by thousands of homeowners over the last year. (AP Photo/J. Meric)
    Feds find association between drywall, corrosion Mon Nov 23, 6:19 PM ET

    WEST PALM BEACH, Fla. - The federal government said Monday that it has found a "strong association" between problematic imported Chinese drywall and corrosion of pipes and wires, a conclusion that supports complaints by thousands of homeowners over the last year.

  • In this photo taken Nov. 20, 2009, a tanker truck makes a fuel delivery at a Little Rock, Ark., gas station. Retail gasoline prices headed downward to begin one of the country's busiest travel weeks, with more than 33 million people expected to hit the road for the Thanksgiving holiday.(AP Photo/Danny Johnston)
    Gas prices fall to begin busy travel week Mon Nov 23, 5:18 PM ET

    Retail gasoline prices headed downward in most places to begin one of the country's busiest travel weeks, with more than 33 million people expected to hit the road for the Thanksgiving holiday.

  • A can of Campbell's chicken noodle soup is shown at a grocery store in Palo Alto, Calif., Monday, Nov. 23, 2009. Campbell Soup Co. reported Monday that it increased its first quarter profit by 17 percent with the help of increased efficiency in getting its products from its plants to store shelves. (AP Photo/Paul Sakuma)
    Campbell Soup earnings rise as expenses fall Mon Nov 23, 4:59 PM ET

    MOUNT LAUREL, N.J. - Price-conscious grocery shoppers are being choosy about what they buy to cook at home, even from the value-oriented Campbell Soup Co.

  • In this photo provided by CBS, Sen. Chuck Schumer, D-N.Y., appears on CBS's 'Face the Nation' in Washington, Sunday, Nov. 22, 2009. (AP Photo/CBS Face the Nation, Karin Cooper) MANDATORY CREDIT, NO SALES,  NO ARCHIVE
    Schumer says failure not an option on health care Mon Nov 23, 6:26 PM ET

    WASHINGTON - Failure is not an option on health care, a leading Democratic senator said Monday, even as Republicans turned up the heat on moderates who hold the fate of the legislation in their hands.

  • FILE - In this Wednesday, Nov. 4, 2009, photo, a shopper pulls a credit card from her wallet to make a purchase at the checkout at the Best Buy in Mechanicsburg, Pa. For the first time in a decade, more people paid their credit card bills on time in the third quarter this year than in the second quarter.(AP Photo Carolyn Kaster)
    Late payments on credit cards drop in 3rd quarter Mon Nov 23, 5:57 PM ET

    NEW YORK - Consumers got more serious about paying down their credit card debt this summer, a time when deliquencies usually go up.

  • In this photo made Friday, Nov. 20, 2009, chocolate moves down the production line at the Cadbury factory in Birmingham, England. Shares in British chocolate maker Cadbury PLC hit their highest level in at least five years Monday, Nov. 23, 2009, on reports that another rival, Switzerland's Nestle SA, may make a takeover bid. (AP Photo/Simon Dawson)
    Cadbury shares rise on report of Nestle interest Mon Nov 23, 3:09 PM ET

    LONDON - Shares in British chocolate maker Cadbury PLC hit their highest level in at least five years Monday on reports that another rival, Switzerland's Nestle SA, may make a takeover bid.

  • TV retailer QVC joins `Black Friday' frenzy Mon Nov 23, 12:29 PM ET

    NEW YORK - Television retailer QVC has made aggressive plans to keep shoppers watching — instead of mall-hopping — on Black Friday, an event it has traditionally ignored.

  • GM wants gov'ts to help pay $4.9 bn restructuring Mon Nov 23, 11:36 AM ET

    BRUSSELS - General Motors Co. on Monday asked European governments to help pay most of the euro3.3 billion ($4.9 billion) it needs to restructure its struggling European operations.