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| Yahoo! News: Economy News Updated : Tue, 08 Jul 2008 22:49:32 GMT Obama proposes easing consumer bankruptcy laws (Reuters) Reuters - Democratic presidential candidate Barack Obama proposed overhauling bankruptcy laws on Tuesday to ease the impact on people unable to pay their bills because of medical expenses or military service. Publ.Date : Tue, 08 Jul 2008 15:18:16 GMT Costly gas crimps surfers' style, roils industry (AP) AP - For years, Chris Mauro took a 10-mile detour on his way to work each morning to check out the swells at his favorite surf break and plot the best location for his afterwork wave-riding. Publ.Date : Mon, 07 Jul 2008 20:46:08 GMT Pending home sales tumble in May (Reuters) Reuters - Pending sales of previously owned U.S. homes plummeted by 4.7 percent in May, far more than expected and a sign of more trouble ahead for the beleaguered housing market, a real estate trade group report showed on Tuesday. Publ.Date : Tue, 08 Jul 2008 14:35:06 GMT 'More robust' regulation needed for Wall Street firms: Bernanke (AFP) AFP - Federal Reserve chairman Ben Bernanke called Tuesday for legislation to provide "more robust" supervision of Wall Street investment firms to help avert crises like the one that felled Bear Stearns. Publ.Date : Tue, 08 Jul 2008 13:23:06 GMT Fed may keep open lifeline to financial firms (Reuters) Reuters - Federal Reserve Chairman Ben Bernanke said on Tuesday the U.S. central bank might keep open a lifeline to financial firms, while the latest data showed distress in the housing and retail sectors continues. Publ.Date : Tue, 08 Jul 2008 21:08:33 GMT Dow ends up 152 on decline in oil, Bernanke talk (AP) AP - Wall Street finished sharply higher Tuesday as oil prices dropped for the second straight day and investors were encouraged by the possibility of more help for the ailing financial system. The Dow Jones industrials gained more than 150 points, and all the major indexes were up more than 1 percent. Publ.Date : Tue, 08 Jul 2008 22:15:27 GMT Congress frets as its ratings plummet (The Christian Science Monitor) The Christian Science Monitor - Members of Congress are used to working in an institution that gets no respect, but a recent plunge to the bottom of confidence ratings ? and a week back home with constituents riled over gas prices ? is raising alarms even on thick-skinned Capitol Hill. Publ.Date : Tue, 08 Jul 2008 08:00:00 GMT Ka-ching! Consumers borrow mostly on credit cards (AP) AP - Consumers boosted their borrowing in May, mostly reflecting heavy credit card use to finance their purchases. Publ.Date : Tue, 08 Jul 2008 19:03:50 GMT Fed plans new rules to protect future homebuyers (AP) AP - The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs. Publ.Date : Tue, 08 Jul 2008 20:47:16 GMT Oil Lifts Consumer-Product Prices, Too (BusinessWeek Online) BusinessWeek Online - Many American consumers winced when gas prices hit $4 a gallon. But the price of oil has had an impact beyond the pump. Everyday items such as plastic bags, clothing, and even diapers have increased along with the cost of gas. "There are a lot of people who are having a hard time now," says John Simpson, a spokesman for the advocacy group Consumer Watchdog. "And things are going to get a lot tougher when gas hits $5 a gallon." Publ.Date : Tue, 08 Jul 2008 12:08:41 GMT Web Site Traffic |