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IMF, Downgrading U.S. Growth Outlook, Cautions Investors About Interest Rates

WASHINGTON (MCT) — The International Monetary Fund on Monday sharply lowered its U.S. growth projection for the year and issued a cautionary note to investors: Don’t be too confident about interest rates. Like others in the economic forecasting business, the IMF downgraded its U.S. outlook after first-quarter activity was hammered by the harsh winter weather. […]

Factory Production Heats Up In Sign Of 2nd-Quarter Economic Rebound

WASHINGTON (MCT) — Growth returned to U.S. factories in May after a one-month slump, a sign the economy is rebounding following a winter slowdown. Industrial production rose 0.6 percent after a revised drop of 0.3 percent in April, the Federal Reserve said Monday. The increase was in line with economists’ forecasts for a 0.5 percent […]

Facebook To Track What Users Do On Other Sites

SAN FRANCISCO (MCT) — Facebook Inc. will soon start tracking what users in the U.S. do not just on Facebook but also on other websites and apps to more effectively target them with ads. The practice is common — even for some ad networks Facebook partners with — but the social network had previously based […]

Retail Sales Rise Modestly In May

(MCT) — Retail sales in May fell short of estimates, but still pointed to an economy making slow progress. Sales rose a modest 0.3 percent last month, according to the Commerce Department. That was only half of the 0.6 percent gain that economists projected. Sales would have advanced only 0.1 percent without a strong showing […]

Four In 10 Millennials Say They Feel Overwhelmed By Debt, Poll Finds

(MCT) — Four in 10 members of the millennial generation said they felt overwhelmed by debt, with more than half reporting they were living paycheck to paycheck, according to poll results released Tuesday. Most of the respondents in the Wells Fargo Millennial Study said the Great Recession taught them they needed to start saving for […]

Private-Sector Job Growth Slowed In May To 179,000, ADP Reports

(MCT) — Private-sector job growth slowed in May to 179,000, the lowest level since January, payroll firm Automatic Data Processing said Wednesday. The figure was below analyst expectations for 210,000 net new jobs. ADP also revised down its April estimate by 5,000, to 215,000. “After a strong post-winter rebound in April, job growth in May […]

Banking Regulators Launch Broad Review Of Financial Rules

(MCT) — Three of the Nation’s financial regulators on Wednesday launched a broad effort to identify rules that are unnecessary or too burdensome for banks. Under a 1996 law, the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency are required to conduct such a review at least […]

U.S. Trade Gap Widens As Americans Buy More Imports

(MCT) — The U.S. trade gap widened to its highest level in two years as Americans purchased more imported goods and exports slowed, the U.S. Commerce Department reported Wednesday. The country’s trade deficit grew to $47.2 billion in April, up from $44.2 billion in March, the Federal agency said. Exports slowed in April, down slightly […]

Survey Puts Time Warner-Comcast Merger In A Harsh Light

(MCT) — The American Customer Satisfaction Index has pegged Time Warner Cable Inc. as the Nation’s most unloved company. Based on phone and online surveys, it rated Time Warner Cable’s Internet service as 236th out of 236 companies in customer satisfaction — a list that included Coke, Campbell Soup, Nissan, Allstate and Verizon Communications. Time […]

Study Says Medicare Prescription Flaws Costs $5 Billion

(MCT) — Researchers have known for years that low-income Medicare recipients don’t always receive the prescription drug coverage that best matches their needs. But thanks to a new study, there’s now a price tag for this inefficiency: about $5 billion. That’s how much the Federal government could save in one year if it changed the […]


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