Recovery | MyFOX Spokane

US home sales tick up to highest in 3 ½ years

Submitted by Fox First at Ten on May 22nd

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale. The National Association of Realtors said Wednesday that sales rose to a

Bernanke signals Fed to maintain stimulus efforts

Submitted by Fox First at Ten on May 22nd

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs. Reducing the Fed's efforts to keep borrowing rates low would

IMF calls on Britain to do more for growth

Submitted by Fox First at Ten on May 22nd

By DANICA KIRKAAssociated Press LONDON (AP) - The International Monetary Fund has called on Britain to do more to support the economic recovery, urging the government Wednesday to speed up investment in infrastructure and come up with a plan to privatize its bailed out banks. In a review of Britain

Okla. residents come home to pick up the pieces

Submitted by Fox First at Ten on May 22nd

By RAMIT PLUSHNICK-MASTI and CHRISTOPHER SHERMANAssociated Press MOORE, Okla. (AP) - With her son holding her elbow, Colleen Arvin walked up her driveway to what was left of her house for 40 years. It was the 83-year-old grandmother's first time back at her home since a monstrous and deadly

Weak yen a help for Japan, but headache elsewhere

Submitted by Fox First at Ten on May 22nd

By ELAINE KURTENBACHAP Business Writer TOKYO (AP) - A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world

Japan's central bank says economy picking up

Submitted by Fox First at Ten on May 22nd

By ELAINE KURTENBACHAP Business Writer TOKYO (AP) - Japan's central bank says the world's third-biggest economy is "picking up" as demand recovers in other countries and remains resilient at home, though the trade deficit widened in April, for the tenth straight month. The Bank of Japan

Investors edgy ahead of Bernanke testimony

Submitted by Fox First at Ten on May 22nd

By PAN PYLASAP Business Writer LONDON (AP) - Investors were edgy Wednesday ahead of the appearance of U.S. Federal Reserve chairman Ben Bernanke before lawmakers in Congress. Following a run of upbeat U.S. economic news, largely related to housing and jobs, there's been talk in the markets that

Japan's trade deficit hits $8.6B due to weaker yen

Submitted by Fox First at Ten on May 22nd

By ELAINE KURTENBACHAP Business Writer TOKYO (AP) - Japan's trade deficit widened to a larger-than-expected 879.9 billion yen ($8.6 billion) in April as its weakening currency accentuated surging import costs. Exports rose 3.8 percent from the same month a year earlier to 5.78 trillion yen ($56

No new funds needed for Okla. tornado recovery

Submitted by Fox First at Ten on May 21st

By ANDREW TAYLORAssociated Press WASHINGTON (AP) - Top lawmakers and officials said Tuesday that the federal government has plenty of money on hand to pay for recovery efforts in the wake of the devastating tornado that struck Oklahoma. The government has more than $11 billion in its main disaster

Obama pledges urgent aid to Oklahoma town

Submitted by Fox First at Ten on May 21st

WASHINGTON (AP) - President Barack Obama pledged urgent government help for Oklahoma Tuesday in the wake of "one of the most destructive" storms in the nation's history. "In an instant, neighborhoods were destroyed, dozens of people lost their lives, many more were injured," Obama said from the