Economy
The latest financial news, stock market updates and employment information.
News Summary: US housing starts slowed in July but permits surged
(The Washington Post / Census Bureau)
WASHINGTON — HOUSING SLOWS: Construction of homes and apartments dipped 1.1 percent in July to a seasonally adjusted annual rate of 746,000 in July. In June, housing starts rose to the highest level in nearly four years.
Obama offering states nearly half-billion dollars in unspent funds for transportation projects
WASHINGTON — The Obama administration is making nearly half a billion dollars in unspent highway funds available to states that promise to use the money to create jobs and improve transportation.
Ryan’s hometown: Plant shutdown sharpens a campaign question: What’s route back to prosperity?
(Andy Manis / Associated Press)
JANESVILLE, Wis. — A defining moment for Paul Ryan’s hometown came at the height of the Great Recession: General Motors, after nearly a century of making Chevrolets on the banks of the Rock River, shut down its oldest assembly plant and erased 6,000 jobs.
New rules expose bigger funding gaps for public pensions
(Andy Manis / AP Photo)
New accounting rules will put even more pressure on cash-strapped state and local governments to reduce public employee pension benefits.
To fix Medicare and Social Security, look to Singapore
(TIM CHONG / REUTERS)
Singaporeans help build their own nest eggs.
Dollar Tree shares slide as 2Q profit rises nearly 26 pct., but misses Wall Street estimates
RICHMOND, Va. — Discount retailer Dollar Tree Inc. said Thursday that its net income increased nearly 26 percent in the second quarter as consumers spent more at its stores that sell goods for $1 or less.
Dollar falls against euro, pound, Swiss franc on mixed US jobs and housing data
NEW YORK — The dollar fell against the euro Thursday after jobs and housing data painted a mixed picture of the U.S. economy.
US states with the biggest changes in jobless aid applications, and some reasons, at a glance
The number of Americans applying for unemployment benefits rose by 2,000 to a seasonally adjusted 366,000 last week. The level is low enough to suggest hiring will continue at a modest pace.
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