Housing is rebounding. Families are shrinking debts. Europe has avoided a financial crackup. And the fiscal cliff deal has removed the most urgent threat to the U.S. economy.So why don't economists foresee stronger growth and hiring in 2013?Part of the answer is what Congress' agreement did (raise Social Security taxes for most of us). And part is what it didn't do (prevent the likelihood of more...
Auto industry posts best U.S. sales year since 2007
Labels: BusinessU.S. auto sales rose 9 percent in December, led by foreign manufacturers, capping off the best year for the industry since before the recession.The year's sales were driven by a slowly recovering economy, more available credit and the need for consumers and businesses to replace aging cars and trucks.General Motors Co posted December U.S. sales growth of 5 percent compared with the year-earlier month,...
Economy, year-end sales help auto industry in 2012
Labels: BusinessDETROIT (AP) — A steadily improving economy and strong December sales lifted the American auto industry to its best performance in five years in 2012, especially for Volkswagen and Japanese-brand vehicles, and experts say the next year should be even better.Carmakers on Thursday announced their final figures, which totaled 14.5 million — 13 percent better than 2011.More than three years after the...
Fracking can be done safely in New York state: dept report
Labels: BusinessThe natural gas drilling process known as fracking would not be a danger to public health in New York state so long as proper safeguards were put into place, according to a health department report that environmentalists fear could help lift a moratorium on the controversial technique.Governor Andrew Cuomo is weighing the economic benefits of hydraulic fracturing - commonly known as fracking - against...
IMF's economist: budget cuts may hurt growth less now
Labels: BusinessWASHINGTON (Reuters) - Belt-tightening in advanced economies may not be as harmful to growth now as it was during the height of the financial crisis, but governments should still be careful about drastic cuts, an International Monetary Fund research paper found on Thursday.The IMF came under heavy criticism in October when it conceded that austerity programs it recommended during the global economic...
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Purported photo of new BlackBerry phone with QWERTY keyboard leaks
Labels: WorldResearch In Motion (RIMM) CEO Thorsten Heins recently said during the company’s Q3 earnings call that BlackBerry 7 is still a “strong success” in the Asian-Pacific markets. Despite the company putting most of its weight behind BlackBerry 10 and the Z10 and X10, Heins said RIM will continue supporting BB7 and consumers “might expect us to even build one of the other new products” based on it. Heins...
Microsoft Surface trampled at the bottom of the tablet pile this Christmas
Labels: WorldWhile it does have drawbacks just like anything else, Microsoft’s (MSFT) Surface is a great slate for those looking for a fresh new take on the modern tablet. Unfortunately, it doesn’t look like very many people were looking for a fresh new take on the modern tablet this holiday season. In a recent note to investors, R.W. Baird analyst William Power recounted recent conversations had at retailers...
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