Economy, Economic Crisis | featured news

Private sector employment decreased by 522000 last month, according to ADP’s national employment report released Wednesday. The report is compiled from actual payroll data and measures the change in total nonfarm private employment each month.

Panasonic Corp. said Wednesday it will slash 15,000 jobs and shut down 27 plants worldwide, joining a slew of major Japanese companies announcing deep cuts as the global slowdown batters the world's second-largest economy.

US department store chain Macy's is cutting 7,000 jobs as it reduces costs against a backdrop of falling sales.

Factory activity contracted at a slower pace in January, data showed on Monday, providing a rare dose of good news for the battered economy, but other reports pointed to a deepening of the recession.

Senior Republican senators warned on Sunday their party was unlikely to back President Barack Obama's economic stimulus bill without changes to cut waste and to ensure the nearly $900 billion package promptly boosts the faltering U.S. economy.

Most Republican governors have broken with their GOP colleagues in Congress and are pushing for passage of President Barack ...

President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again."

A requirement that most stimulus-funded projects use only U.S.-made gear and goods is shortsighted, knee-jerk protectionism.

Gannett Co., the largest US newspaper publisher, said fourth-quarter profit fell 36 percent on faltering advertising sales and expenses to cut jobs.

The economy shrank at its fastest pace in nearly 27 years in the fourth quarter, government data showed on Friday, sinking deeper into recession as consumers and business cut spending.