July consumer spending climbs while incomes stall in slow recovery
In July consumer spending rose 1 percent as purchases of durable goods like cars and appliances surged 3.7 percent, yet personal income and wages were flat. The savings rate dipped to 3.4 percent while unemployment remained near 5.9 percent, fueling concern that weak income growth could restrain the recovery.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
United States
Bill Cheney
John Hancock
Wall Street
Kmart gains subpoena power in bankruptcy probe
In Chicago federal court, Kmart won authority to issue subpoenas as it probes management practices linked to its bankruptcy filing. The judge also widened default triggers on a $2 billion loan, requiring a $100 million profit by year end while acknowledging concerns over anticipated losses.
MENTIONED IN THIS ARTICLE
Troy, Mich
Kmart Corp
Kmart
Chicago
FBI
U.S. Securities and Exchange Commission
Jack Butler
U.S
Susan Pierson Sanderby
Butler
Sanderby
Lion
Sonderby
Son
Stock market ends fifth week of gains with mixed results
Wall Street posted a quiet session with blue chips up on upbeat economic news then slipping as volume thinned before Labor Day. Techs lagged while the Dow fell 7.49 to 8663.50, Nasdaq dropped 20.86 to 1314.91, and the S&P 500 slid 1.78 to 916.07 amid profit-taking and a cautious mood. The week and month closed with mixed signals on a rebound.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Stephen Carl
Williams Capital Group
Dow
Standard & Poor
Ford recalls natural gas powered Crown Victoria cars
Ford Motor Co recalls 598 Crown Victoria fleet cars powered by natural gas because a fuel leak could spark a fire. Police cars and government taxi service units are included, with most recalls in California and a concentration in Phoenix and Mesa Arizona. Ford will notify owners to arrange free repairs.
MENTIONED IN THIS ARTICLE
Washington
Ford Motor Co
Ford
Phoenix
Mesa
Ariz
California
Todd Nissen
Henner
Nissen
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Federal Reserve
Alan Graanenonepi
Derby
TeleBanker
Deans & Daves
Um Se Als
Tan Aaa
Thomaasons Potato Chips
Aqix
Ato ‘Ps
Ron Tracinski
Bonareea
Originalmattress.com
Midway Blvd
Elyria
Wal-Mart & Pier
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