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Tag Archives: Recession

Obama promotes auto industry success in Indiana

KOKOMO, Ind. — President Barack Obama promoted the revival of the U.S. auto industry Tuesday, taking his pitch to the heart of the Rust Belt where a bruising economy has taken its toll on Democrats. Obama and Vice President Joe ...

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Maryland employers added 5,900 jobs in October

Maryland’s employers added 5,900 jobs last month, but the state’s unemployment rate held steady at a seasonally adjusted 7.4 percent. It was the first October expansion of employment rolls since 2007, according to the state Department of Labor, Licensing and ...

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Study forecasts steady but slow economic growth

NEW YORK — The pace of the U.S. economic recovery will remain steady but slow in the face of persistently high unemployment and heavy debt burdens, according to a new report. The survey, by the National Association for Business Economics, ...

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Stocks fall Monday on Ireland bailout, Wall Street probe

NEW YORK — Stocks fell Monday as investors worried about fallout from Europe’s financial crisis and a widening probe into Wall Street insider trading. Bank stocks led the declines after the Federal Bureau of Investigation raided the offices of two ...

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Stocks slip on concerns euro crisis will spread

NEW YORK — Broad stock indexes fell sharply in midday trading as concerns grew that the European financial crisis will spread. Ireland formally asked for help from its neighbors over the weekend after falling into a financial crisis brought on ...

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Wells Fargo to pay Citigroup $100M to settle Wachovia lawsuit

NEW YORK — Wells Fargo has agreed to pay $100 million to Citigroup to settle all claims in a dispute related to its 2008 acquisition of Wachovia Corp. Wachovia nearly collapsed in October 2008, at the height of the financial ...

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Lockheed to lay off 60, stop manufacturing at Middle River

Defense contractor Lockheed Martin Corp. said Thursday it will end manufacturing operations at its Middle River site by the end of next year, laying off 60. The company said the site, which specializes in producing a missile launch system used ...

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Unemployment fund could need another loan

Maryland’s labor department is prepared to take out another loan in early 2011 to pay jobless benefits following a year in which and lawmakers scrambled to secure federal funds to shore up a benefits system stressed by continued high unemployment. ...

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