TOP NEWS: Economy: July 6, 2012
- U.S. Added 80,000 Jobs in June; Unemployment at 8.2%
- Three Central Banks Act to Stimulate More Borrowing
- Barclays Bank Bash
- Home-Equity Loans Pose Looming Threat to Banks
- Obama Proves No Carter As Investors Favor U.S.
Excerpts and more top stories
Catherine Rampell, NY Times – The economy added 80,000 jobs last month, the Labor Department reported Friday, after a revised increase of 77,000 in May. The unemployment rate remained at 8.2 percent.
Binyamin Appelbaum, NY Times – Concerned about waning economic growth, central banks in Europe and China announced measures Thursday to increase borrowing and spending by businesses and consumers, a response that was all the more striking because it was uncoordinated.
LIBOR: Barclays Bank Bash
WSJ Editorial - Federal gumshoes are hot on the trail of banks suspected of attempting to manipulate a key interest rate. If only it were easy to separate the effect of alleged manipulation efforts by private banks from the deliberate manipulation by government.
Alan Zibel, WSJ – U.S. banks may be hit with a new round of mortgage losses over the next five years as borrowers who took out home-equity loans a decade earlier face increased monthly payments, a regulator warned Thursday.
Rich Miller and John Detrixhe, Bloomberg – Mitt Romney has suggested that President Barack Obama has done a worse job managing the economy than Jimmy Carter. Investors disagree. For instance, the Standard & Poor’s 500 Index of stock prices has surged 70 percent under Obama.
More top stories
Abram Brown, Forbes, Opinion – The unemployment rate remained steady at 8.2%, according to new Labor Department data. With June’s growth reinforcing fears that the economy is slipping further off track, persistent speculation on additional Fed actions will likely resurface.
Jon Hilsenrath, Brendan Conway, Phil Izzo and David Wessel on The News Hub break down June’s jobs report, which saw unemployment remain at a disappointing 8.2%.
Stephen Kirkland and Glenys Sim, Bloomberg – Stocks (SXXP) and commodities fell, while Treasuries rose for a second day, after slower-than-forecast growth in U.S. payrolls fueled concern the economic recovery is slowing. Spain’s 10-year bond yields reached 7 percent.
Alan Zibel, WSJ – U.S. bank regulators didn’t work hard enough to make sure the public understands a process set up to compensate borrowers who were subject to foreclosure-processing errors, a federal watchdog has found.