U.S.
  • WASHINGTON (AP) — The recession that ended three years ago this summer has been followed by the feeblest economic recovery since the Great Depression.

    Since World War II, 10 U.S. recessions have been followed by a recovery that lasted at least three years. An Associated Press analysis shows that by just about any measure, the one that began in June 2009 is the weakest.

    The ugliness goes well beyond unemployment, which at 8.3 percent is the highest this long after a recession ended.

    LAST UPDATE : Aug 22, 2012, 9:57 AM EDT
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    U.S. homebuilders grew more confident in the housing recovery in August, as many reported that prospects for sales are the best they've been since the home bubble burst five years ago.

     
    LAST UPDATE : Aug 22, 2012, 9:57 AM EDT
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  • U.S. consumer prices were unchanged in July from June, as a small drop in energy costs offset slightly higher food prices. The consumer price index hasn't increased since March, evidence that the weak economy is keeping inflation in check.

    LAST UPDATE : Aug 22, 2012, 9:57 AM EDT
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    Industrial production, which includes output at factories, mines and utilities increased 0.6% in July from June, the fourth straight monthly increase, the Federal Reserve reported Wednesday.

     
    LAST UPDATE : Aug 22, 2012, 9:57 AM EDT
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  • U.S. retail sales rose in July by the largest amount in five months, buoyed by more spending on autos, furniture and clothing.

    LAST UPDATE : Aug 22, 2012, 2:06 AM EDT
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  • World stock markets eased on Monday after weak Japanese economic data added to evidence tha tthe global economy is slowing.

    LAST UPDATE : Aug 21, 2012, 6:14 PM EDT
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  • By Steve Slater

    (Reuters) - It was in October 2006 that a senior executive at Standard Chartered in New York pressed the alarm bell over the bank's dealings with Iranian customers.

    Realizing the bank was being too slow to react to regulators' concerns that the transactions might break U.S. sanctions against Iran, Ray Ferguson, then head of Standard Chartered Americas, fired off an email warning of potentially "catastrophic reputational damage".

    LAST UPDATE : Aug 21, 2012, 4:09 PM EDT
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