Retail gains lift mood on recovery as inflation stays hidden
U.S. shoppers and businesses show improving confidence after a run of positive data. Retail sales rose 1.6 percent in March, inflation remains subdued, and manufacturers raise stocks while Fed Chair Bernanke cautions the pace is not enough to curb unemployment. JPMorgan Chase profits grow as banks slowly mend after the crisis.
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Fed
Congress
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Naroff Economic Advisors
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Commerce Department
Foreclosure rates surge to highest quarterly total since 2005
RealtyTrac reports a 9 percent jump in U S homes repossessed in Q1 from a year earlier and a 16 percent rise in households facing foreclosure. More than 900 000 notices issued, signaling banks accelerating processing of delayed inventories amid economic strain.
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Obama
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Associated Press
iPad Addiction Expands Beyond the $499 Base Price
Seattle shoppers consider added costs for iPads from protective covers to keyboards extended warranties and apps. Julie Monea and Josie Liming share concerns about protection and daily spending while Kenji Obata notes demand for accessories as Apple Stores struggle to restock. The piece cites local retailers and firms offering screens films and protective corners.
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Edmonds
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Kenji Obata
Spoon
University Village
NLU Products LLC
EU pushes Portugal to tighten budget rules and austerity
The European Union warned Portugal it may require further budget cuts and proposed tougher sanctions to deter rule-breaking that could echo Greece. Lisbon faces pressure as Portugal aims to shrink deficits from 9.3 to about 8.3 percent, with Moody’s Fitch and market nerves watching for spillover to the euro area.
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