All Articles Tagged "U.S. economy"
-Facebook released its first earnings report as a public company and it wasn’t all they’d hoped. The social network posted a net loss of $157 million on income of $240 million. Revenue was $1.2 billion, up about a third from last year. “Advertising” is the key word and the company’s ad impressions have dropped because users are increasingly accessing the site on their mobile devices. “Mobile users are 20 percent more likely to use Facebook on any given day,” CEO Mark Zuckerberg said on the earnings call. As of June 30, 2012, monthly active users of the site reached 955 million.
-The 2012 London Olympics’ opening ceremony is today! Are you excited? Creative director Danny Boyle (usually a film director of such movies as Slumdog Millionaire) had a £27 million budget (about $42.5 million) for the performance, which is expected to reach 1 billion viewers. If you want a preview, some footage has leaked on YouTube, although now it might be hard to find. Even if you’re not watching the Games on TV, you’ll be inundated with details online, where news outlets and sponsors will be giving minute-by-minute updates. (#Openingceremony for tonight.) In related news, Mitt Romney went to London and insulted all the Brits.
-The U.S. economy slowed over the spring as consumers kept their spending to a minimum, fears continue over the fate of Europe’s collective economy, and unemployment remains high.
-Business Insider has got a math lesson for you, breaking down the personal finance equations that you should know.
-PC Magazine shares its choices for the best personal finance apps. Get your money matters sorted!
(Forbes) — Barron’s nails something important about this past week’s big bounce in stocks – he’s basically saying that all the fundamental and technical analysis you want can’t even touch the power of a mightily wrong estimate in terms of moving the markets. To wit, we did not have a “good” August jobs number, but we did have a number that was much better than the consensus punk estimates – and that was all we needed for some up-field progression.
(Time) — A worrying economic question these days is the possibility of a return to negative GDP growth in the U.S, the dreaded double dip. If it happened it could pull much of the world back into recession, possibly triggering another round of financial crisis. Though all but a few consider this a low possibility, it’s not so low as to be off the radar. Economists I follow generally put the risk of a U.S. double dip at somewhere between 20% and 35%.
(Wall Street Journal) — Personal income took a hit in most of the U.S. last year with the only gains coming from government support, according to new data from the Commerce Department. Income declined in 223 metro areas last year, increased in 134 and was unchanged in nine regions. Even though prices declined last year — down 0.2% from a year earlier as measured by the national price index for personal consumption expenditures — incomes fell even more. On average, personal income dropped 1.8% in 2009, following a 2.7% increase in 2007.
(Smart Money) — The U.S. economy will expand at a solid pace this year and next as consumers, confident that the recession is now behind them, raise spending again, a panel of economists said in a survey released Monday. The 46 economists surveyed in the National Association for Business Economics, or NABE, report between April 27 and May 7 predicted U.S. gross domestic product would expand by 3.2% in 2010 and 2011. That’s a tad higher than the 3.1% growth predicted for both years in the Feb. 10 survey.
(Bloomberg Businessweek) – For the first time in half a decade, the U.S. tech industry in 2009 slashed large numbers of skilled workers from its payrolls. The findings, disclosed in a technology trade group’s annual analysis of employment and wage trends in the industry, could slow an overall improvement in the U.S. economy, the group concluded.
(Bloomberg.com) – The strengthening U.S. economy, subdued inflation and rising stock prices are propelling the dollar rally into its fifth month as traders seek refuge from Europe’s fiscal crisis and Japanese deflation.