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About A Quarter Of Americans Have No Emergency Savings, Poll Finds

(MCT) — About a quarter of Americans have no money saved to handle emergencies, according to poll results released Monday that showed households in worse shape than they were a year ago to deal with financial trouble. The Bankrate.com survey also found that two-thirds of respondents said they have less than the recommended six months’ […]

Federal Government Seeks Younger Workers To Offset Coming Wave Of Retirements

(MCT) — After President John F. Kennedy’s famous call to “ask not what your country can do for you; ask what you can do for your country,” young people flocked to government service. These days, not so much. Only 7 percent of all public-sector workers — at the Federal, State, county and municipal levels — […]

Housing Starts, Building Permits Sink In May

(MCT) — Home builders broke ground on fewer new homes nationwide in May, as a key element of the housing recovery lost momentum. Housing starts fell 6.5 percent from April to a seasonally adjusted annual rate of 1,001,000, the Commerce Department said Tuesday. The drop was slightly worse than expected and comes after volatile multifamily […]

Tomorrow’s Retirees Expect To Work More Than Today’s, Survey Finds

(MCT) — Views of retirement are evolving between generations, with the expectations of those still working different from those who have already quit, survey results released Tuesday by Milwaukee’s Northwestern Mutual Life Insurance Co. show. The research suggests substantial changes in retirement age and lifestyle are on the horizon. People expect to work longer, but […]

GM CEO Barra To Testify On Ignition Switch Crisis As Recalls Spread

(MCT) — General Motors Co. CEO Mary Barra reappears before Congress on Wednesday amid expectations she will answer more questions about the widening ignition switch recall than she did last time. During questioning from House and Senate panels in April, Barra deferred answers to many questions as she awaited the results of an internal investigation […]

GM Still Has Millions Of Recalled Cars To Repair, Investigators Say

WASHINGTON (MCT) — Two months after repair kits for 2.6 million recalled General Motors Co. vehicles began being shipped to dealers, the automaker has repaired only about 155,000 vehicles, though the company continues to maintain it will replace all of them on schedule. Congressional investigators, releasing a memo Monday morning in advance of a Wednesday […]

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 […]

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