China’s foreign trade growth slowed sharply in July, raising fears that economic weakness elsewhere in the world could put the brakes on the No. 2 economy. Friday’s report from China’s General Administration of Customs showed exports up only 1% in the month compared to a year earlier, down significantly from the 11.3% growth rate in [...]
Oil production in Iraq surpassed that of its regional rival Iran last month, highlighting the impact of continued investment in Iraq and Western sanctions on Iran. Iraqi oil production inched over the 3 million barrel a day mark in July, according to numbers released Friday by the International Energy Agency. That’s 300,000 barrels per day [...]
Ever find yourself away from your computer but really wanting to know about the United States’ durable goods trends? Believe it or not, there’s now an app for that. The U.S. Census Bureau is making it easier for anyone with a smartphone or tablet to access the latest statistics on the nation’s economy through a [...]
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U.S. stocks finished a week of gains with a Friday of little change, following disappointing economic data from China and the U.S. heightened fears about a global slowdown. “Most of what we’ve seen in the recent rally is the idea that things will not deteriorate as badly as many had feared,” said Bruce McCain, chief [...]
Corn yields are shriveling up as the drought continues to wreak havoc on crops across the Midwest. On Friday, the U.S. Department of Agriculture projected a massive slump in the corn harvest, and a subsequent surge in corn prices. In its monthly World Agricultural Supply and Demand report, the USDA projected the corn harvest would [...]
Potential massive cuts in federal spending are still months away, but some small businesses that rely on government contracts are already feeling the pinch. The looming cutbacks — part of the “fiscal cliff” — are causing firms to slow business or shrink production and could threaten jobs, according to company owners. The $110 billion in [...]
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The Justice Department says after a “careful review” it has determined there is no basis for bringing a criminal prosecution against Goldman Sachs or its employees in regard to allegations set forth in a congressional report. In an unsigned statement from the Justice Department issued Thursday night, it said the department conducted an exhaustive review [...]
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Prices continued to decline in China last month, clearing the way for the country to ramp up its stimulus efforts. China’s annual inflation rate fell to 1.8% in July, the government’s National Bureau of Statistics reported Thursday, down from 2.2% in June. That’s the lowest inflation rate in two-and-a-half years. Food prices, which account for [...]
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Most small business owners expect lackluster sales growth in the year ahead, according to a recent survey. A quarterly poll by Gallup and Wells Fargo found that 54% of small firms expect their revenue will fall or remain flat in the next 12 months, up from 48% the previous quarter. Also, fewer firms expect improvements [...]
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Gibson Guitar Corp. has agreed to pay a fine for illegally importing exotic wood from Madagascar and India, the U.S. government said Monday. Gibson will pay a $300,000 penalty to avoid criminal charges for importing ebony and rosewood in violation of the Lacey Act, which prohibits the acquisition of plant products that are protected in [...]
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