NYS seeing low-paying jobs replacing high-pay ones

2011-11-29T10:00:36Z

ALBANY, New York (Reuters) - New York state has lost more than 500,000 job opportunities and about $31 billion in potential earnings from 2008-2011 as the state continues to feel the economic repercussions left by the recession and slow recovery, according to a report released on Tuesday.

Spain Christmas lottery fares well in lean times

2011-11-29T02:30:48Z

With hundreds of people queuing in the cold to buy lottery tickets, Spaniards' favourite form of Christmas spending is thriving -- despite and because of economic hardship.

"Even though there's a crisis, you always hope that you'll get lucky," says Ester Rubio, 21, who is unemployed, queuing in the cold outside Madrid's best-known lottery ticket shop, Dona Manolit...

Latvian bank Krajbanka set to be wound up

2011-11-25T14:30:13Z

Latvian bank Latvijas Krajbanka will likely be wound up, the government said Friday, after the Russian owner of its defunct Lithuanian parent Snoras was detained amid claims of fraud.

"The main consideration was whether Snoras bank as the main shareholder was prepared to support Krajbanka," Prime Minister Valdis Dombrovskis told reporters.

"Now we know this scenario has been ruled out," he said after a meeting of Latv...

Financial guru bids farewell to LVCVA

2011-11-23T02:32:30Z

It was one of those comic-relief moments of the monthly Las Vegas Convention and Visitors Authority meeting.

Brenda Siddall, the LVCVA's vice president of finance, would face the board and its chairman, former Las Vegas Mayor Oscar Go...

Greece, EU head for showdown over bailout pledge

2011-11-15T11:30:40Z

ATHENS (Reuters) - Greek conservatives set themselves on a collision course with the European Commission on Tuesday, saying they would not bow to "dictates from Brussels" over a bailout designed to save their country from bankruptcy and safeguard the euro....

LVCVA boss in line for pay raise

2011-11-01T02:31:00Z

It would be Ralenkotter's first since 2007

The Las Vegas Convention and Visitors Authority's compensation committee is recommending a 4 percent raise and a 12.5 percent bonus for the organization's president and CEO, Rossi Ralenkotter.

That would be a $10,238 increase in Ralenkotter's annual salary to $266,182 and a one-time bonus ...

Washington D.C. economy feels chill as budget cuts loom

2011-10-26T12:30:26Z

WASHINGTON (Reuters) - Washington was long buffered from the Great Recession because of steady federal spending, but fears about budget cuts are putting the brakes on the economy of the nation's capital.

The culprit for the slowdown in the seventh-biggest U.S. metropolitan area is close at hand, analysts said -- the congressional "super committee" charged with finding $1.2 trillion in budget...

Intercontinental Hotels revenues rise in America

2011-10-24T00:00:13Z

LONDON (Reuters) - Intercontinental Hotels Group , the world's biggest hotelier, reported higher revenue growth at its American operations and said customer demand had remained strong despite the global economic slowdown.

"The Reuters) - China's economic growth will probably cool next year to the lowest annual rate in a decade, setting the pace for an Asia-wide slowdown as global demand fades, a Reuters poll released on Thursday showed.

But economists saw little risk of a severe slump. The slowdown should be modest and Asia's policymakers have room...

Unemployment rockets to 17-year high

2011-10-13T04:30:54Z

Britain's jobless total has hit a 17 year-high, stoking fears of a new recession and denting government hopes that the private sector can compensate for massive cuts in state jobs.

The number of jobless people jumped to 2.57 million in the three months to August, reaching the highest amount since late 1994, the Office for Nati...

British unemployment rockets to 17-year high

2011-10-12T14:30:28Z

Britain's jobless total has hit a 17 year-high, data showed Wednesday, stoking fears of a new recession and denting government hopes that the private sector can compensate for massive cuts in state jobs.

The number of jobless people jumped to 2.57 million in the three months to August, reaching the highest amount since late 1994, the President Barack Obama, the US Senate effectively killed a jobs bill at the heart of his efforts to turn the sour economy around in the run up to the November 2012 elections.

Lawmakers voted 50-49 to advance the $447 billion dollar plan, falling short of the 60 senators needed to do so, in the face of fierce opposition from Republicans eager to de...

Insight: New bankruptcy ripples may emerge in tough economy

2011-10-10T15:00:25Z

(Reuters) - Three years after the collapse of Lehman Brothers touched off a tidal wave of bankruptcy filings, corporate failures may be about to pick up again, with some big-name companies among those struggling for survival.

Companies in a range of businesses, including hair salons, restaurants, renewable energy, and th...

OECD indicators paint dark picture of global economy

2011-10-10T08:00:10Z

PARIS (Reuters) - The outlook for the world's major economies is continuing to darken according to the latest data from the OECD published on Monday, which showed sharp falls in leading indicators for all countries except Japan.

The Paris-based FRANKFURT (Reuters) - The euro single-currency system could be derailed unless European leaders resolve the debt crisis, a situation that has already prompted Fiat SpA and its affiliate Chrysler Group LLC

Fiat CEO says euro system could go "off the rails"

2011-09-13T04:00:14Z

FRANKFURT (Reuters) - Fiat chief executive Sergio Marchionne said the euro single currency system could "go off the rails" unless European leaders effectively resolve the current debt crisis.

Marchionne, who ...

Analysis: Time running out for Obama to pull Reagan recovery

2011-09-08T11:00:13Z

WASHINGTON (Reuters) - President Barack Obama has scant time left to build the muscular economic recovery that won Ronald Reagan his re-election in 1984 after he seemed similarly at risk of being a one-term president at the half way point in his administration...

Recession kicks entrepreneurship into high gear

2011-09-08T02:30:47Z

During the boom years, life for Dwayne Eshenbaugh was good. And now, having lost his job, he's wondering if it just got better.

An architect at one of Las Vegas' top firms, Eshenbaugh, 45, said there was no shortage of great projects during the fat years. He had a home in Henderson, a six-figure salary and lived a comfortable life helping raise two daughters.

But when the recession hit ...

Citigroup cuts 2011, 2012 global growth view

2011-08-25T02:00:08Z

(Reuters) - Citigroup cuts its global growth forecasts for this year and next, with sharp reductions for the United States, euro zone and United Kingdom<...

France to revise growth forecast

2011-08-24T09:30:33Z

France will announce a revised growth forecast Wednesday, the government said, as many economists warned it would be unable to meet the previous goal of two percent over the year.

Prime Minister Francois Fillon was due to announce a raft of austerity measures later in the day to reassure markets that France is tackling its budget deficit and head off threats to its...

VW's volumes jump in July, no sign growth ending

2011-08-19T02:30:08Z

FRANKFURT (Reuters) - Volkswagen increased vehicle sales in July sharply and said it remained on track for further growth, signaling that economic weakness has so far not had a material impact on its business.

"The Volkswagen Group is maintaining its growth tra...

IMF warns spending cuts will stall global recovery

2011-08-15T20:30:16Z

IMF chief Christine Lagarde on Monday warned governments not to slash spending to avoid sparking a new recession and stalling the feeble economic recovery from the 2008 crisis.

"For the advanced economies, there is an unmistakable need to restore fiscal sustainability through credible consolidation plans. At the same time we know that slamming on the brakes too quickly will hurt the recovery and worsen job prospects...

Greenspan sees negative market take on downgrade

2011-08-07T21:30:19Z

Former US Federal Reserve chairman Alan Greenspan said Sunday he believes the financial markets will react negatively to the downgrade of the US credit rating, and will take "a while" to settle.

"Considering the momentum in which the market went down over the last week, it's very unlikely -- if history is any guide -- that this isn't going to take awhi...

How the recession has altered plans at a Henderson intersection

2011-08-06T02:30:11Z

Grocery store, park to replace failed condo site

Three years ago - in the waning days of Las Vegas' building boom - developers envisioned high-rise condominiums and mixed-use retail at the intersection of Stephanie Street and Wigwam Parkway, just off Interstate 215 in Henderson.

What a difference a recession makes.

At the southeast corner of the intersection, the site of a failed $200 milli...

IMF urges S.Korea to raise interest rates

2011-08-04T19:30:36Z

The International Monetary Fund urged South Korea to raise its key interest rate and let the won appreciate further, saying the economy has moved beyond recovery into expansion.

The IMF on Friday said in a regular report that growth is expected to remain robust, allowing policymakers to start tightening monetary policy.

It tipped growth t...

Best Value Cities 2011:

2011-07-28T10:30:23Z

It offers college sports, the Smoky Mountains and an entrepreneurial spirit.

Knoxville has managed to avoid the sharpest impact of the Great Recession, thanks to such economic drivers as the Tennessee Valley Auth...

Economy still affects access to basic needs: Gallup

2011-07-15T10:30:38Z

WASHINGTON (Reuters) - Americans' access to basic needs, ranging from food and shelter to clean water and healthcare, has not significantly improved since the height of the recession, according to a Gallup study released on Friday.

The Basic Access Index, a 13-item measure of Americans' access to basic necessities, was at 82.0 in June, only slightly better than the low point of 81.5 recorded...

Minnesota loses AAA rating on Fitch downgrade

2011-07-07T14:30:13Z

NEW YORK (Reuters) - Minnesota lost its top credit rating on Thursday as Fitch Ratings downgraded the state's general obligation bonds one notch to AA-plus, citing the budget impasse.

Minnesota's state government has been shut since last Friday, when Democratic Governor

Nearly half states close budget gaps with cuts: CBPP

2011-06-28T14:30:19Z

WASHINGTON (Reuters) - A majority of U.S. states have passed their budgets for the fiscal year starting July 1, according to the Center on Budget and Policy Priorities.

As of Monday, 32 states had enacted their budgets, with at least 24 slashing spending on pu...

Romney ad taps Nevada angst

2011-06-24T02:30:16Z

Locals Ôhurt' by recession are cast in attack on Obama

WASHINGTON - When President Barack Obama told a group of workers at an auto plant in Ohio this month that "there are always going to be bumps on the road to recovery," Mitt Romney's campaign rushed to rural

Warren Buffett lunch bids already topping $1.5 million

2011-06-06T08:00:17Z

NEW YORK (Reuters) - Double-dip recession or not, people will still pay any price to have lunch with Warren Buffett.

The annual charity auction for lunch with the legendary 80-year-old investor began Sunday night, and by Monday morning bids already topped $1.5 million. The five bids placed thus far have come from two anonymous bidde...

Instant view: Payroll growth disappoints in May

2011-06-03T06:00:15Z

NEW YORK (Reuters) - U.S. employment rose far less than expected in May to record its weakest reading since September, while the jobless rate rose to 9.1 percent as high energy prices and the effects of Japan's earthquake bogged down the economy.

COMMENTS:

NIGEL GAULT

A hard road to recovery for US motor home capital

2011-04-27T04:30:35Z

Once idle factories are ringing again with the welcome sounds of motor homes being built, but this Indiana town seen as a bellwether for the US economy is still hurting nearly two years after the recession officially ended.

"We are just crawling out of this recession -- I mean crawling. It seems like our finger nails are just down to the skin here," said Elkhart coun...

Thailand lifts rates again to curb inflation

2011-04-20T13:30:52Z

Thailand's central bank raised its official interest rate Wednesday for the sixth time in less than a year in an attempt to contain inflation.

The Monetary Policy Committee (MPC) voted six to one to increase the official cost of borrowing to 2.75 percent, up from 2.50 percent previously, and said in a statement it was ready to take further a...

Diamond-rich Botswana woos jewellery makers

2011-04-04T16:30:18Z

Botswana, the world's largest producer of diamonds, told international jewellery makers Monday it was ready to create conditions to entice them to set up shop in the country.

Botswana is committed to slashing red tape for cutting, polishing and manufacturing jewellery, acting minerals minister Ponatshego Kedikilwe told a meeting of the International AUSTIN, Tex (Reuters) - The Republican-dominated Texas House late Sunday passed a budget for the next two fiscal years that does not add taxes or dip into the state's rainy day fund but does make sweeping cuts to education and health care.

"This budget paves the way to help Texas recover fro...

Budget seeks to boost flagging economy

2011-03-23T15:30:38Z

Chancellor of the Exchequer George Osborne launched plans on Wednesday to breathe new life into the struggling economy but was forced to tear up his optimistic forecasts for growth.

Osborne, presenting his second annual budget, said he would boost growth and jobs -- even as massive spending cuts and tax hikes risk pushing Britain into a d...

British budget seeks to boost flagging economy

2011-03-23T15:30:26Z

British finance minister George Osborne launched plans on Wednesday to breathe new life into the struggling economy but was forced to tear up his optimistic forecasts for growth.

Osborne, presenting his second annual budget, said he would boost growth and jobs -- even as massive spending cuts and tax hikes risk pushing Britain into a double-dip recess...

Who wants to be a millionaire? More in UK now are

2011-03-20T10:00:08Z

LONDON (Reuters) - The number of millionaires living in Britain has risen by 17 percent over the last two years as the wealthy start to recover from the 2008 credit crisis, a survey revealed on Sunday.

Barclays Wealth said there were 619,000 millionair...

Economy shrank by 0.6% in last quarter

2011-02-25T10:30:36Z

Britain's economy shrank by a worse-than-expected 0.6 percent in the fourth quarter, official data showed Friday, as harsh wintry weather hampered prospects of a swift recovery.

Gross domestic product (GDP) -- the total value of goods and services produced in the economy -- contracted 0.6 percent in the three months to December, the Britain's economy shrank by a worse-than-expected 0.6 percent in the fourth quarter, official data showed Friday, as harsh wintry weather hampered prospects of a swift recovery.

Gross domestic product (GDP) -- the total value of goods and services produced in the economy -- contracted 0.6 percent in the three months to December, the

2011-02-17T05:00:05Z

SINGAPORE (Reuters) - U.S. casino operator Las Vegas Sands is talking to local governments in Spain about building a Vegas-style strip that would cost 10 billion to 15 billion euros and create up to 180,000 jobs, its CEO said on Thursday.

"We considered it ...

Luxury spending grows, wealthy are happy: survey

2011-01-13T00:30:07Z

NEW YORK (Reuters) - Spending on luxury goods by affluent Americans is forecast to grow by $28 billion in 2010, experts said on Wednesday, and the wealthy are happy despite most believing the United States is still in recession.

The "Survey of Affluence and Wealth in America" found luxury spending would rebound for the fi...

Charity begins at the ATM: UK seeks more donations

2010-12-29T06:00:10Z

Charity begins at the ATM: UK ponders plan to ask for donations each time banks give out cash

Please take your cash. Now how about giving some money to charity?

Britain's government said Wednesday it is considering plans to request a donation to good causes each time a customer uses an ATM.

Ministers said they are consulting with banks on the idea to allow customers to give money ...

Spaniards pin hopes on lottery during austere Christmas

2010-12-21T16:30:42Z

Spaniards are cutting back on food and gifts this year as an economic downturn grinds on but ticket sales for an annual Christmas lottery have bucked the trend as they look to the world's biggest payout for relief from the crisis.

The State Lottery and Betting organisation estimates sales for Wednesday's draw for "El Gordo" or "The Fat One", as the lottery is called, will match or be slightly higher than last year's total of 2.7 bil...

Shoppers crowd the malls in Christmas countdown

2010-12-19T18:30:09Z

Shoppers pack the malls on the last weekend before Christmas, stick to lists

Packed malls? Healthy gains in holiday spending? It's beginning to look at least a little like a pre-recession Christmas.

Americans spent more on clothing, luxury goods and even furniture, delivering healthy gains across the board, according to MasterCard Advisors

Study says Las Vegas among world's worst economies

2010-11-30T12:30:22Z

International study ranks Las Vegas fifth worst economy in world, says recovery prospects dim

An international study says Las Vegas has one of the worst economies in the world, and prospects for a rapid recovery appear dim.

The Brookings Institution and

2010-11-30T12:40:16Z

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Consolidated Edison: Enough Juice to Light Up Your Portfolio?

2010-11-29T14:50:12Z

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Book Review: American Rose By Karen Abbott

2010-11-29T14:31:07Z

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Music Industry Anecdotes and Advice

2010-11-29T14:53:57Z

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Hardest workers in London

2010-11-29T15:00:26Z

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Why We Celebrate

2010-11-29T14:45:31Z

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(11/2010) Book Review: American Rose By Karen Abbott

2010-11-29T14:31:05Z

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Tiffany: Earnings Preview

2010-11-29T14:50:00Z

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What have your slots done for you lately?

2010-11-23T02:30:32Z

Reacting to recession, makers aiming to please

Slot machine manufacturers, beaten up by gamblers who often complain about tight machines, have redirected their marketing campaign.

Three years into a recession that has decimated discretionary spending, slot makers at this week's premier trade show eagerly showed off their newest creations - and explained how the games aim to offer players more bang for their buck.

Reuters) - A senior aide to Prime Minister David Cameron resigned on Friday after a political storm blew up over his remark that Britons have "never had it so good," despite pain from the deepest public spending cuts in decades.

David Young, 78, an...

Young quits over recession comment

2010-11-29T15:00:05Z

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PM adviser sorry for 'never had it so good' claim

2010-11-19T05:30:42Z

A senior adviser to Prime Minister David Cameron "profoundly" apologised after claiming in Friday's Telegraph newspaper that the country had "never had it so good," despite the recent downturn.

David Young, who sits in parliament's upper house, told the paper that "the vast majority of people in the country today... have never had it so good, ever since this ...

David Cameron slaps down senior aide over recession comments

2010-11-29T15:00:02Z

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Cameron adviser "profoundly" sorry for comments

2010-11-18T17:30:49Z

A senior adviser to Prime Minister David Cameron "profoundly" apologised after claiming in Friday's Telegraph newspaper that the country had "never had it so good," despite the recent downturn.

David Young, who sits in parliament's upper house, told the paper that "the vast majority of people in the country today... have never had it so good, ever since this ...

PM aide regrets recession comments

2010-11-29T15:00:01Z

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Greece unveils more cuts in 2011 budget

2010-11-18T15:10:32Z

Crisis-hit Greece pledged Thursday to slash another euro5 billion from its deficit next year, making deeper cuts than planned in the 2011 budget to ensure it sticks to the terms of an international rescue deal.

The government originally aimed to cut next year's deficit by euro1.5 billion, but was forced to increase the amount to euro5 billion after failing to meet revenue targets this year and seeing its 2009 deficit figures hiked, which ...

Nat'l Enquirer owner seeks bankruptcy protection

2010-11-18T14:30:23Z

National Enquirer owner American Media files for bankruptcy , blaming poor checkout sales

The recession's toll on consumers has forced the publisher of supermarket tabloids the National Enquirer and Star to seek bankruptcy protection.

American Media Inc., whose publications account for more than a fifth of the newsst...

Japan's Double Dip

2010-11-29T14:49:38Z

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Economist: NH on track to regaining jobs

2010-11-16T09:31:03Z

Economist says New Hampshire gained back more than half the jobs lost during recession

New Hampshire has gained back more than half the number of jobs it lost at the lowest point in the recession and it could regain the balance by early 2012, an economist with the New Hampshire Cente...

5 Tips To Starting A Successful Magazine

2010-11-29T14:52:05Z

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The American Dream

2010-11-30T13:49:50Z

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Banks Still Lending Despite Conventional Wisdom (WFC, JPM, USB, BBT)

2010-11-29T14:43:58Z

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No Surprises At Procter & Gamble (PG, JNJ, TGT, CAT)

2010-11-29T14:43:56Z

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Pharmacists are taking more direct patient care roles, survey finds

2010-11-29T14:46:37Z

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Class conflicts

2010-11-29T14:58:06Z

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A failing future: UK Government lacks high-tech vision

2010-11-29T14:46:56Z

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2007 Revenue Up 194 For Pipeline Data Inc

2010-11-29T14:57:30Z

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ALABAMA Dome Faces More Delays

2010-11-29T14:57:21Z

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Why recycling isnt the way to clean up

2010-11-29T14:56:58Z

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3D potential spreads wider

2010-11-29T14:56:53Z

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Costcutting could cost you more than the bottom line

2010-11-29T14:56:53Z

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How to satisfy huge appetite for sweeteners

2010-11-29T14:56:51Z

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Tips for helping those in need during a recession

2010-11-29T15:45:15Z

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Components of sustainable cultural change

2010-11-29T15:51:27Z

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What do Republicans stand for?

2010-11-29T16:03:46Z

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Flagging economy hammers even local flea markets

2010-11-29T15:43:20Z

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Tips for living with very little money

2010-11-29T15:51:46Z

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Interracial marriages and their effect on racism

2010-11-29T15:51:40Z

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Social and economic trends of the US in the 1920s

2010-11-29T16:00:26Z

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Ideas for protesting high gas prices

2010-11-29T15:41:53Z

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How the media contributes to the recession

2010-11-29T15:41:30Z

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Pros and cons of renting designer fashion items

2010-11-29T15:55:32Z

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Bush is back, and eager to help history judge him

2010-11-08T13:30:22Z

A missing member of Bush's team _ Bush himself _ breaks silence to weigh in on his legacy

George W. Bush knows that history will shape his legacy more than anything he can say. But that's not gonna stop a guy from trying.

After two years of near silence, Bush is back.

With his new memoir, "Decision Points," and a promotion tour, the president who in cockier times could not think o...

Travel Trip Colorado Skiing

2010-11-04T11:03:53Z

In this Sunday, Oct. 24, 2010 photo provided by Colorado Ski Country USA, a snowboarder jumps off a rail during the first day of skiing at Loveland Ski Area in Georgetown, Colo. With economists saying the Great Recession is over, Colorado ski areas now ...

Economy GDP

2010-11-01T13:33:59Z

In this Aug. 19, 2010 photo, a dumped sofa sits in front a half started house in Davie, Fla. Only three houses were started in the multi-million dollar, Parking Estate housing development in Davie, Fla. The recession that began in December 2007, after the housing bubble burst, became the Great Recession once the financial crisis erupted in September 2008. Economic recoveries that follow a financial crisis are typically long-lasting. Banks usually tak...

Dakota Discontent

2010-10-04T12:16:09Z

This Sept. 30, 2010 photo shows flags flying in downtown Hope, N.D. The recession that's brought misery to so much of America hasn't touched Walter Grotte. Like many of his fellow North Dakotans, the retired farmer has prospered in recent years with a business moving silos and grain bins that's so robust he says life is "bette...

Economy Leaders

2010-09-13T12:15:56Z

FILE - In this Feb. 22, 1020 file photograph, Berkshire Hathaway Chairman and CEO Warren Buffett is interviewed before lunch with officials from Salida Capital, a Canadian Investment firm, in New York. Famed investor Warren Buffett said Monday. Sept. 13, 2010, there will be no double-dip recession as some fear. He says banks are lending money again, businesses are hiring employees and he e...

Britain Economy

2010-08-11T07:30:38Z

Shoppers walk by a shop on Oxford Street in London, Wednesday, Aug. 11, 2010. The Bank of England has lowered its economic growth forecast for next year, warning that Britain faces a "choppy recovery" amid great uncertainty about the outlook for the

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