Economy
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
JOBS: U.S. Added 80,000 Jobs in June; Unemployment at 8.2%
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.
BANKS: Three Central Banks Act to Stimulate More Borrowing
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.
BANKS: Home-Equity Loans Pose Looming Threat to Banks
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.
ECONOMY: Obama Proves No Carter In Romney Linkage As Investors Favor U.S.
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
JOBS: Behind June’s 80,000 New Jobs: An Economy Poised For Recession
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.
JOBS: Video: What Does Disappointing Jobs Report Mean?
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%.
MARKETS: Stocks Fall As Treasuries Rise After U.S. Jobs Report
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.
BANKS: Why So Few Sought Foreclosure Redress: It Was Too Complicated, Watchdog Says
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.
