MiamiHerald.com: National Business

Japan's economy shrinks 2.3 percent in 4Q

Mon, 13 Feb 2012 00:52 EST

Japan's economy shrank 2.3 percent in the fourth quarter as manufacturers were battered by the strong yen, weak export demand amid the European debt crisis and flooding in Thailand.

Asia stocks rise after Greece austerity vote

Sun, 12 Feb 2012 22:12 EST

Asian stock markets rose Monday after Greece's parliament approved a new set of austerity measures that were required by international lenders in exchange for an emergency bailout.

Oil above $99 as Greece approves austerity cuts

Sun, 12 Feb 2012 21:18 EST

Oil prices rose above $99 a barrel Monday in Asia after the Greek parliament approved new austerity measures that should secure a bailout and avoid bankruptcy.

Jittery investors watch Greece, US economic data

Sun, 12 Feb 2012 17:57 EST

For the past six weeks, Wall Street traders have optimistically pushed the Dow Jones industrial average up nearly 4.8 percent on a belief that the U.S. economic recovery is finally gaining momentum.

The fight begins: Obama's budget going to Congress

Sun, 12 Feb 2012 16:22 EST

The new budget that President Barack Obama is sending to Congress aims to achieve $4 trillion in deficit reduction over the next decade by restraining government spending and raising taxes on the wealthy. To help a weak economy, Obama's proposal Monday requests increases in transportation, education and other areas.

As Facebook IPO nears, the case for dull stocks

Sun, 12 Feb 2012 12:12 EST

Investors thinking of buying a piece of Facebook after it goes public are hoping it will perform like Google, whose stock has risen 500 percent since its debut seven and a half years ago.

Fuel removal under way on Italy cruise ship

Sun, 12 Feb 2012 12:02 EST

Authorities in Italy say pumping operations have begun to remove some of the 500,000 gallons of fuel aboard the cruise ship that ran aground off Tuscany.

Iraq opens new oil export terminal in Persian Gulf

Sun, 12 Feb 2012 04:38 EST

Iraq inaugurated a new offshore oil export terminal in the Persian Gulf on Sunday in a vital step to ease infrastructure constraints and to bring sorely needed cash for reconstruction after decades of war and international sanctions.

Boeing says it's frustrated with Dreamliner glitch

Sun, 12 Feb 2012 02:12 EST

A top Boeing Co. executive says that the plane maker is frustrated with the latest 787 Dreamliner production glitch, but that it shouldn't delay output goals.

Greece passes new austerity deal amid rioting

Sun, 12 Feb 2012 00:47 EST

Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after riots in Athens and other cities left stores looted and burned and more than 120 people hurt.

The fight begins: Obama's budget going to Congress

Sun, 12 Feb 2012 15:37 EST

Greece's grim choice: deep budget cuts or default

Sat, 11 Feb 2012 12:27 EST

Why would Greece accept more pain when unemployment is at 21 percent, the economy is enduring its fifth year of recession and rioters are hurling gasoline bombs in the streets of Athens?

Faces beyond the numbers of long-term unemployed

Sat, 11 Feb 2012 16:28 EST

J.R. Childress is up before the sun, bustling about in the French colonial brick house he built. He helps pack his wife's lunch, downs some eggs or cereal for breakfast, pores over online and newspaper job listings and hopes - even prays - this will be the day when his fortunes turn around.

UK gov't: Press must face tougher penalties

Sat, 11 Feb 2012 10:27 EST

Britain's press must face tougher penalties for breaches of standards in the wake of the tabloid phone-hacking scandal, the government minister responsible for the media said Sunday.

Deadline nears, Obama wants payroll tax cut action

Sat, 11 Feb 2012 08:42 EST

President Barack Obama is pressuring Congress to extend a payroll tax cut for the rest of the year as another deadline nears for Congress to act or see taxes go up for millions of working people.

Republic Bancorp founder Bernard Trager dies at 83

Fri, 10 Feb 2012 22:08 EST

Bernard Trager, the longtime chairman and founder of bank holding company Republic Bancorp Inc., has died. He was 83.

Fishermen meet amid bleak cod prospects

Fri, 10 Feb 2012 19:47 EST

Fishermen and federal officials grappled Friday with the increasingly bleak prospect of finding some way for the historic New England industry to avoid collapse amid troubles with the health of Gulf of Maine cod.

Bank failures in Ill, Ind bring 2012 total to 9

Fri, 10 Feb 2012 19:07 EST

Regulators on Friday closed small banks in Illinois and Indiana, increasing to nine the number of U.S. bank failures this year, a slower pace than in 2011, when there were 92 bank closures.

S&P lowers rating on 34 Italian banks

Fri, 10 Feb 2012 18:07 EST

Standard & Poor's Ratings Services on Friday lowered its ratings on 34 Italian banks, citing concerns over Italy's financial vulnerability and expectations for weak profits at the banks.

Greek premier defends bailout deal, painful cuts

Fri, 10 Feb 2012 18:07 EST

Warning of a "catastrophe" that would leave Greeks subsisting on food stamps and the country wallowing in bankruptcy, Greek leaders urged lawmakers Saturday to pass more painful spending cuts on the eve of a crucial vote to qualify for a massive bailout.