Many Iraqi immigrants to the United States, fleeing their war-torn country, are struggling to find work here. Despite being well-educated, the tough economy has made it tough for them to convince employers to give them a shot.
The U.S. Post Office unveiled a set of proposals Monday that would see the delivery time for most First Class Mail rise from one to two days to two to three days in an effort to reduce the quasi-governmental agency's ballooning deficits.
Attorney General Martha Coakley accuses Bank of America, JP-Morgan Chase, Citigroup, Wells Fargo and GMAC Mortgage of unfair and deceptive business practices related to the foreclosure process.
The economy added 120,000 jobs and the unemployment rate dipped in November to 8.6 percent. In the past three months, 650,000 workers 16-24 finally found jobs. But is this a sign of a recovery, or another economic mirage.
With declining domestic demand amid increased domestic capacity, coupled with soaring international needs for refined petroleum products, for the first time in 62 years, this year the United States is expected to export more petroleum fuel products than it imports.
With the economy still bumping along and a recovery still off in the future, many Americans over age 55 are continuing to work. More than ever, older Americans are staying in the workforce, which is making it harder for their children to find jobs.
According to their reporting, the Federal Reserve lent out as much as $1.2 trillion, virtually no strings attached, at very low interest rates to banks during 2008. The program had been shielded from public scrutiny and hidden even for Congress. The program netted banks a $13 billion profit.
After 20 years being the only game in town, Pfizer, the manufacturer of Lipitor, is about to get some competition in the space for treating those with chronic high cholesterol. The patent expired Wednesday and one generic drug is ready to hit the market. Others should arrive in six months.
Sales on Black Friday broke records. Sales on Cyber Monday broke records. The American consumer is spending again, but economists say it's not necessarily something to get too excited about.
AMR Corporation, the parent company of American Airlines, announced Tuesday morning that the company had filed bankruptcy in New York. American is the last major legacy U.S. carrier to seek the help of the courts to reduce costs. The airline said operations will continue normally through the process.