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...data being released this week - including important third quarter company earnings reports, September retail sales and housing starts - will likely add up to a bleak picture, both in terms of consumer confidence levels and the overall health of the U.S. economy. "The data will show an economy that has lost a lot of steam in September in relation to August," says Joe LaVorgna, chief U.S. economist at Deutsche Bank. "It remains to be seen how bad October will be, but we could really see a bad quarter in terms of Gross Domestic Product performance where we are down at least...
...other significant parts of the new plan are funded from other sources, and won't add to the taxpayer tab. The Federal Deposit Insurance Corporation (FDIC) will guarantee certain bank accounts - those mostly used by businesses for payroll and other expenses - above the current $250,000 limit. The FDIC will also guarantee lending between banks by creating a new kind of debt. The FDIC is calling this program a "Temporary Liquidity Guarantee...
...earlier superlight MacBook Air and from this day forward (until we reach the Glass Singularity, I guess) will be standard fare on all Mac laptops. Jony Ive, design boss and Apple's second-most important man, explained: "Rather than start with a thin piece of aluminum and add multiple parts for structure, we start with a thick piece of aluminum." The frame, or "unibody" that results after much drilling, cutting and buffing is so gorgeous that Jobs directed his Apple-uniformed cadre to hand out one per row and let the press and analysts kvell...
Taking a flight anywhere these days is about as enjoyable as gum surgery. You don't need uncooperative airline employees to add to your misery. But that's exactly what happened to Carol, a property manager from New Jersey...
...short answer many European economists give is that it ought to. There are few reasons, they say, why markets shouldn't return to a situation somewhere closer to normal - though they add there was little in macro-terms to justify their bearish frenzy last week. But following Sunday evening's agreement by the 15 leaders of euro-zone countries to accept collective rules to underwrite loans between banks and inject new capital into those facing serious trouble, hope is now rising that the situation in Europe may stabilize. Indeed, euro-group leaders used the most encouraging language they could muster...