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French Banks Diagnosed With Denial

PARIS, Oct. 21 (UPI) — French bankers ignored signs of troubles that could have made the current economic crisis in Europe easier to handle, an economics professor in Paris said. “French banks failed to learn lessons from the 2007, 2008 crisis and became complacent,” Professor Jezabel Couppey-Soubeyran at the Pantheon-Sorbonne University told The Wall Street […]

Leading Indicators Muted, Showing Risks

NEW YORK, Oct. 20 (UPI) — The U.S. index of leading economic indicators rose 0.2 percent in September, but still point to a weak economy, the Conference Board said Thursday. The Leading Economic Index, which has risen for the past four months, climbed in September to 116.4. However, Conference Board economist Ataman Ozyildirim said, “September […]

Sales Of Existing Homes Down In September

WASHINGTON, Oct. 20 (UPI) — Existing U.S. home sales slipped in September after a surge of sales in August, the National Association of Realtors said Thursday. The group said sales of single-family homes, townhomes, condominiums and co-ops dropped 3 percent to a seasonally adjusted annual rate of 4.91 million in the month, down from an […]

Consumer Confidence Drops In Europe

BRUSSELS, Oct. 20 (UPI) — The European Commission said Thursday consumer confidence declined sharply in September in the European Union and the eurozone. The Economic Sentiment Indicator for both the EU and the eurozone declined 3.4 points, hitting 94 and 95, respectively. “The decrease reflects broad-based cross-sector deterioration in sentiment, with particularly strong losses in […]

Long-Term Mortgages Slip, Just A Little

WASHINGTON, Oct. 20 (UPI) — Long-term mortgage rates were little changed in the week ending Thursday, the U.S. Federal Home Loan Mortgage Corp. said. Freddie Mac said the average interest rates for 30-year, fixed-rate loans fell from 4.12 percent to 4.11 percent with an average of 0.8 points for the week. A year earlier during […]

Yahoo! May Soon Have Bidders At Its Door

SUNNYVALE, Calif., Oct. 20 (UPI) — U.S. technology giant Microsoft Corp. is reviving its pursuit of search engine Yahoo! Inc., this time with partners, sources told The Wall Street Journal. One deal currently in the works is to purchase Yahoo! with help from private equity firm Silver Lake Partners and the Canada Pension Fund Investment […]

Low Growth, High Debt Spike Spain’s Credit

MADRID, Oct. 19 (UPI) — Low growth prospects and high debt levels prompted Moody’s Investors Service to drop Spain’s credit rating two notches after it warned France of a possible cut. The downgrade, following similar Spanish cuts by Fitch Ratings and Standard & Poor’s, and the warning of a downgrade against France — which French […]

From August, Prices Rise 0.3 Percent

WASHINGTON, Oct. 19 (UPI) — The Consumer Price Index rose a seasonally adjusted 0.3 percent in September, month-to-month, the U.S. Labor Department said Wednesday. Compared to August, core prices rose 0.1 percent, indicating prices that rose on the Producer Price Index, which was reported Tuesday, have not filtered down to the consumer level. From a […]

Social Security Grants COLA Increases

WASHINGTON, Oct. 19 (UPI) — The U.S. Social Security Administration said Wednesday that monthly benefits for 60 million Americans will increase by 3.6 percent in 2012. The increase applies to Social Security and Supplemental Security income checks. It also marks the first cost-of-living adjustment in Social Security benefits in two years. No cost-of-living adjustment was […]

Greeks Strike Before Austerity Vote

ATHENS, Greece, Oct. 19 (UPI) — Workers in Greece initiated a two-day strike Wednesday to protest austerity budget measures, union leaders said. The strike was organized by two unions that represent a combined 2.5 million workers, The New York Times reported. The strike is expected to close down schools, airports and trash collections. The Times […]

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