Economy grows at 5.7 percent in Q4 but slows this year
Washington reports 5.7 percent annualized growth in the fourth quarter the strongest since 2003 driven by business equipment and software restocking. Economists foresee a slower 2.5 to 3 percent in the current quarter and about 2.5 percent for the year as stimulus fades and inventories normalize. Unemployment hovers near 10 percent with weak wages limiting consumer spending. Analysts warn the recovery could falter if income gains do not improve.
MENTIONED IN THIS ARTICLE
Washington
U.S
Brian Bethune
IHS Global Insight
Toyota recall sparks confusion anger among owners
Toyota faces a widening recall of 2.3 million vehicles including Camry and Corolla over faulty gas pedals and floor mats. Owners voice fear and frustration as the company offers few details on fixes, parts supply, or timelines while dealers await guidance.
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Toyota
Tony Rausch
Hales Corners
Wis
Europe
U.S
Associated Press
Laurie Strong
Bristol
R.I
Jobless Rate Shocks Nine States Amid High Underemployment
Labor Department data show nine states with underemployment near or above 20 percent, including Michigan at 21.5 percent, California 21.1 percent, and Oregon 20.7 percent in 2009. The official 10 percent rate excludes discouraged or part time workers seeking full time.
MENTIONED IN THIS ARTICLE
Washington
Barack Obama
Labor Department
Michigan
California
Oregon
South Carolina
Nevada
Rhode Island
Arizona
Florida
Tennessee
Wal Mart recalls Disney cadmium pendants amid safety crackdown
Federal regulators announce recall of The Princess and The Frog pendants sold at Wal-Mart due to cadmium concerns. About 55,000 items, $5 each, were pulled after Disney bans cadmium in its brand jewelry. Consumers may return for refunds or replacements.
MENTIONED IN THIS ARTICLE
Federal
Wal-Mart
FAF Inc
U.S. Consumer Product Safety Commission
Associated Press
China
Walt Disney Co
Disney
Manuel G. Grace
Disney Co
Wal-Mart Stores Inc
Consumer Product Safety Commission
Federal Consumer Safety Regulators
CPSC
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