The White House said Thursday it was reviewing what has turned out to be a wildly popular “cash for clunkers” program amid concerns the $1 billion budget for rebates for new auto purchases may have been exhausted in only a week.
Monthly archives for July, 2009
New Study by Citi Finds Signs of Optimism about the Economy in Chicago’s African American and Hispanic Communities (Business Wire)
CHICAGO—-Citi today announced the results of the first part of a new study of consumer sentiment among low- to moderate-income African-American and Hispanic communities. Among respondents in the Chicago area, findings show that both communities are expressing more optimism about the national economic outlook than a cross-ethnic, representative national sample.
Cash for Clunkers may go on hold until DOT sorts things out (CNNMoney.com)
The federal government may suspend its $1 billion Cash for Clunkers program after less than a week over concerns that the plan may have already burned through its funds, according to congressional sources.
Japan jobless rate climbs to 6-year high in June (AP)
Japan’s unemployment rate rose to a six-year high and prices fell at a record pace in June, the government said Friday. The jobless rate in the world’s second-biggest economy worsened to 5.4 percent from 5.2 percent in May, suggesting that an emerging recovery for companies has yet to filter down to workers and families.
AP sources: Govt to suspend ‘cash for clunkers’ (AP)
The government plans to suspend its popular “cash for clunkers” program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, congressional officials said Thursday.
Ala. governor warns utility on 3-state water feud (AP)
Alabama Gov. Bob Riley is warning utility giant Southern Co. to stay out of the region’s tri-state water war. In a letter to company Chief Executive David Ratcliffe Wednesday, Riley said he was surprised to learn that the head of Southern subsidiary Georgia Power was leading a Georgia “impact team” formed by Gov.
Business Roundtable Statement on Senate Finance Committee Health Care Reform Bill Negotiations (Business Wire)
WASHINGTON—-”We encourage the Senate Finance Committee to persevere in their negotiations on the health care reform bill and work towards achieving a solution. We have been at the table from day one with our sleeves rolled-up and extend our continued support on this effort,” said John J.
Wis. utility fined nearly $150,000 for plant blast (AP)
Federal safety officials fined a Wisconsin utility and its contractor more than $300,000 on Thursday, six months after an explosion at the utility’s power plant injured eight workers.
A look at economic developments around the globe (AP)
A look at economic developments and stock market activity around the world Thursday: —— LONDON — House prices in the United Kingdom rose by 1.3 percent in July, and may finish the year with a slight gain, a major mortgage lender said.
Stocks jump on corporate profit and recovery hopes (Reuters)
U.S. stocks surged on Thursday as a drop in the number of Americans on jobless benefits and a batch of solid corporate profit reports bolstered hope for an economic recovery.