The U.S. Aaa credit rating won’t be under pressure from budget deficits in 2010 or 2011, Moody’s Investors Service (MOD) said.
The White House budget office projects that the federal deficit will top $1.5 trillion this year.
“Certainly over time, a…
U.S. consumers put shopping on hold in October following the back-to-school season.
MasterCard Advisors’ SpendingPulse, a data service, showed year-on-year declines in spending on items including flat-panel TVs and major appliances, The Associated Press reported.
The lull may continue until the Christmas shopping period begins after Thanksgiving.
Still, the news wasn’t all bad,…
Continue reading Consumers Take Break from Shopping in October
Consumers Take Break from Shopping in October originally appeared on DailyFinance on Wed, 03 Nov 2010 07:44:00.
Filed Under: Company News, Technology, Economy, Retail
The U.S. fiscal deficit is “scary” and the government should slash entitlement spending, former Federal Reserve Chairman Alan Greenspan said.
“We’re involved in a dangerous game,” Greenspan said, according to Bloomberg News.
The deficit may be a factor in low investment by U.S. companies, as it creates uncertainty about tax policies, Greenspan said in an opinion article for the…
Continue reading Greenspan Says U.S. Deficit Is ‘Scary’
Greenspan Says U.S. Deficit Is ‘Scary’ originally appeared on DailyFinance on Fri, 08 Oct 2010 08:06:00.
Costco Wholesale Corp (COST) reported earnings of 97 cents per diluted share for the quarter ended Aug. 29, compared with 85 cents per diluted share a year earlier.
Net sales rose to $23.59 billion, from $21.89 billion a year earlier, the company said in a statement. Comparable sales rose 6% from a year earlier, driven by strong international growth.
Earnings for the full year were…
Continue reading Costco Earnings Rise on Overseas Strength
Costco Earnings Rise on Overseas Strength originally appeared on DailyFinance on Wed, 06 Oct 2010 06:29:00.
Filed Under: Company News, Economy, Earnings, Costco, Retail
A jump in government spending helped fuel the UK’s economic growth in the second quarter, the country’s Office for National Statistics said.
Government spending grew 1% in the quarter, the fastest rate in over a year, Bloomberg News reported. This contributed to economic growth of 1.2% for the quarter.
The Conservative-led coalition government is preparing tax increases and budget…
Continue reading Increased Government Spending Fuelled UK Economic Growth
Increased Government Spending Fuelled UK Economic Growth originally appeared on DailyFinance on Tue, 28 Sep 2010 07:45:00.