Economy | News-Opinion

TOP NEWS: Economy: September 7th, 2012

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Hiring Slowed in August; Jobless Rate Fell to 8.1%
Krugman: Cleaning Up the Economy
US private sector hiring accelerates
Auto bailout was not unmitigated success
JPMorgan faces fresh probe over trading losses

Excerpts and More Top Stories

UNEMPLOYMENT: Hiring Slowed in August; Jobless Rate Fell to 8.1% - NYT
The economy added 96,000 jobs in August, well below expectations, adding pressure on Federal Reserve policy makers, who have hinted they will act to stimulate the economy when they meet next week.

UNEMPLOYMENT/ELECTIONS: Jobs Gauge Carries Election Clout - WSJ

The presidential election could hinge largely on whether voters see the jobs picture as a reason to credit Mr. Obama for an economy on the mend or blame him for a disappointing recovery.

UNEMPLOYMENT/ROMNEY: Romney on August jobs report: ‘this morning is the hangover’- WP
Mitt Romney reacted to the latest monthly jobs report with disappointment. His full statement starts with: If last night was the party, this morning is the hangover…

ECONOMY: Krugman: Cleaning Up the Economy – NYT, OP-ED

The next four years are likely to be much better than the last four years.

JOBS: US private sector hiring accelerates - FT

New data show companies hired the most workers in five months and planned job cuts fell to a 20-month low, easing fears over job creation

JOBS: Small businesses hiring remains frozen - WP
The nation’s smallest employers have been struggling mightily to live up to their billing as America’s job creators. That didn’t change in August.

AUTO BAILOUT: Auto bailout was not unmitigated success - WP
One of President Obama’s major accomplishments has been the rescue of the auto industry, but what Democrats don’t mention is the initial cost, what taxpayers are still owed and the lost jobs.

INVESTIGATION: JPMorgan faces fresh probe over trading losses - FT
The bank faces a new probe from the US Senate into trading losses at its chief investment office that cost the bank $5.8bn and shaken its reputation for risk management

ENVIRONMENT/FOOD SUPPLY: Climate Change and the Food Supply - NYT
A new report offers a stark warning about potential crop shortages and soaring prices; another proposes a possible way to avoid catastrophe.

CONSUMER FINANCES: The trend that cooled America’s plastic passion - FT
The number of credit card accounts in circulation has tumbled 23%, showing that social attitudes to credit have a nasty habit of upending macroeconomic models

CONSUMER FINANCES: Weighing Prepaid Cards vs. Checking Accounts - NYT
Consumers with less financial experience may be better off with a prepaid debit card than with a checking account, but the cards need more consumer safeguards.

MUNICIPAL FINANCE: Plan to End Bankruptcy in Rhode Island City Gains Approval - NYT
The debt-adjustment plan will allow downtrodden Central Falls, R.I., to emerge from bankruptcy after a little more than a year.

MUNICIPAL FINANCE: Scandals Show California Is Broken, Not Broke - BLOOMBERG
Steven Greenhut: Voters are accustomed to the scare tactics of tax-hungry politicians who warn of looming cuts in schools and public safety.

ENERGY: Both Parties to Promote More Fossil Fuels - WSJ
The revolution in U.S. oil and gas production over the past four years has changed the platforms of both political parties, with Democrats and Republicans more bullish on these resources.

FEDERAL FUNDING/SCIENCE: Michael Milken: Investing in Science, Reaping Rewards - WSJ
Budget officials count the National Institutes of Health as a $31 billion cost, but they don’t count the net benefit.

BUSINESS

PHARMACEUTICALS: Pfizer’s Potent Pipeline – BARRON’S
Though known for its fat dividend, the world’s largest drug maker doesn’t get proper credit for its lineup of new drug offerings.

BANKING: Vivendi/EMI deal hits right notes for bankers - FT
Citigroup is arguably biggest winner as it will recover the money it lent.

APPLE: Apple Shifts Suppliers for iPhone Chips - WSJ

APPLE/MEDIA: Apple Seeks to Create Pandora Streaming Music Rival - WSJ

TECHNOLOGY: Amazon Updates Its Kindle Line of E-Readers - NYT

FCC: FCC may auction TV airwaves - WP

COMMODITIES: Glencore Increases Mining Offer in Bid to Secure Deal – NYT

MARKETS/INTEL: Intel Cuts Revenue Outlook - WSJ

MARKETS/FACEBOOK: Facebook Investors Know Exactly Whom to Blame - BLOOMBERG, OPINION

AUTO INDUSTRY: Ford Expands Offerings for Europe – NYT

RETAIL: Abercrombie’s Disconcertingly Deep Discounts – BARRON’S

SHIPPING: Is FedEx Boxed In? - BARRON’S

MEDIA: News Corp. Bids for Consolidated Media - WSJ