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Toyota's Cost-Cutting Restores ProfitsToyota CEO Akio Toyoda called the collapse in auto sales that followed the fall of Lehman Brothers last year a "once-in-a-century" crisis. Yet today, just six months since the Japanese auto giant posted its first annual loss in six decades, Toyota reported today that it eked out $242 million in earnings for the three months from July to September. |
U.S. Unemployment Rate Reaches 10.2 Percent; 13.1 for HispanicsThe U.S. unemployment rate surged to 10.2 per cent in October as another 190,000 people lost their jobs, according to Labor Department figures released Friday. |
Productivity Exceeds Expectations in Q3The U.S. Labor Department said non-farm productivity shot up in the third quarter faster than it has in six years, growing 9.5 percent on an annual basis. |
Wall St. Gains After Better Jobless Claims and Productivity DataWall Street saw a strong open Thursday, after the U.S. government reported better-than-expected jobless claims and productivity numbers. |
Merkel Calls Obama to Raise Pressure on General MotorsGerman Chancellor Angela Merkel called US President Barack Obama on Thursday to urge action on a new strategic plan for troubled European carmaker Opel, after parent company General Motors said that they would not sell the firm. |
Federal Reserve Keeps Interest Rates at Record Low Despite RecoveryThe Federal Reserve on Wednesday kept interest rates at their historic low of near 0 percent as the world's largest economy embarks on a slow recovery from recession. |
Obama to Discuss U.S. Education SystemEducation is in the limelight Wednesday as President Obama and Education Secretary Arne Duncan visit America's heartland to discuss learning opportunities. |
Job Losses Continue, but Pace SlowsNon-farm job losses slowed September to October for the seventh consecutive month, Automatic Data Processing reported Wednesday. ADP revised its August to September job losses to 227,000 from 254,000 and said the most recent month saw a loss of 203,000 additional jobs. Job losses are slowing, but the aggregate number of losses continues to increase. |
GM, Ford Report Sales Increases; Chrysler Drops 30 PercentGM and Ford Tuesday released positive reports for auto sales in October, while struggling Chrysler said sales had dropped 30 per cent. |
House OKs Homebuyer Tax Credit ExtensionThe U.S. House Tuesday approved legislation that would extend unemployment benefits and expand an $8,000 tax credit for first-time homebuyers. |
U.S. Markets Mixed TuesdayU.S. markets closed mixed Tuesday with policymakers at the Federal Reserve headed into a two-day meeting in Washington. The start of the Open Market Committee meeting often puts investors into a two-day holding pattern as they wait for critical news on the central bank's lending rate decisions. |