The United States moved perilously closer to an economy-rattling default and a partial government shutdown entered its 14th day as Senate Democratic and Republican leaders remained at odds over spending in their last-ditch negotiations to end the crises facing the nation.
Eurostat, the EU's statistics office, said industrial production rose 1 percent. The increase was roughly in line with market expectations.
China passed the United States in September as the world's biggest net oil importer, driven by faster economic growth and strong auto sales, according to U.S. government data released this week.
Ford's luxury Lincoln brand spent most of this year reintroducing itself to American buyers. Now, it's taking on Lexus in a new bid to get noticed.
Economic activity in the manufacturing sector expanded in September for the fourth consecutive month and the overall economy grew for the 52nd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
Daimler AG's luxury brand Mercedes-Benz sold a record number of cars in September. The Stuttgart-based automaker said Friday it sold 142,994 vehicles during September, up 15.9 percent on the same month a year before.
The bitter blame game continued with the still employed politicians in DC - while as many as a million workers were sent home on Tuesday, out of work and out of luck. The government's partial shutdown also means the September jobs report is being postponed. The workers who produce it aren't deemed "essential," which is why they're among the 800,000 federal employees being furloughed.
Boeing Co. said it delivered 170 commercial planes during the third quarter as deliveries accelerated for three of its most important planes. Compared to the same period last year, deliveries sped up for its smaller, workhorse 737, its long-range best-seller 777, and its new 787.
The latest victims of the government's partial shutdown: policy wonks, politicians and TV talking heads who are losing their monthly opportunity to dissect the jobs report issued by the Bureau of Labor Statistics. It happens the first Friday of the month at 8:30 a.m. Eastern time. Except this Friday.
Amid the Washington shut down that furloughed nearly a million government workers, the private sector isn't doing much better. U.S. companies added just 166,000 jobs last month, which is fewer than economists had expected. Analysts say the softer numbers have renewed worries on Wall Street.
The new Porsche Boxster S is a fast, fun, driver-centric car. This car pays attention to how someone who truly likes to drive would like the cockpit set up, and it's especially responsive to the driver around corners. This car responds just like the driver thinks it should, and is like an extension of the driver's body, says this test driver.
U.S. businesses added just 166,000 jobs in September, only slightly more than the previous two months. The lack of improvement in hiring, along with the threat of a prolonged government shutdown, could help persuade the Federal Reserve to delay scaling back its stimulus.
Hyundai is offering to defer new-car payments for 800,000 workers who have been furloughed due to the partial U.S. government shutdown. The company says workers who buy or lease cars this month won't have to make payments until January. Those who already own a Hyundai financed through the company won't have to make payments until they go back to work.
US factory activity expanded last month at the fastest pace in 2 ½ years, an encouraging sign that manufacturing could lift economic growth and hiring in the coming months. The Institute for Supply Management, a trade group of purchasing managers, said Tuesday that its manufacturing index rose in September to 56.2, the highest since April 2011.
As the government's partial shutdown enters a second day, most companies across the country are doing business as usual. Yet concern is rising that a prolonged shutdown would cause some work at private companies to dry up and consumers to lose faith in the U.S. economy.
BlackBerry says the cost of reworking its operations will likely be four times as much as it estimated earlier this year and may turn out to be even be higher than that. According to financial report documents filed with regulators, the smartphone maker expects to book US$400 million in charges from a variety of factors before the end of May 2014.
A new study by the Economic Policy Institute finds that a growing trade deficit with China has cost the U.S. billions of dollars in lost wages. In 2011 alone, unbalanced trade with the People’s Republic resulted in lost U.S. wages of $37.0 billion. The EPI study cites 2.7 million U.S. jobs lost between 2001 and 2011 due to the trade gap with China, and over 2.1 million of those jobs were in the manufacturing sector.
Sales fell at General Motors, Toyota, and Volkswagen in September, an odd month that appears likely to snap a 27-month streak of gains for the American auto industry. But Ford and Chrysler appeared to have outperformed the industry, with sales on the rise.
American Crystal Sugar will default on a government loan of $71.2 million under a program that provides relief when a glut of sugar on the market depresses prices. David Berg, the company's president and CEO, said that forfeiting the sugar put up as collateral was the best option, given the very low prices that sugar is fetching.
Congress plunged the nation into a partial government shutdown Tuesday as a protracted dispute over President Barack Obama's signature health care law reached a boiling point, forcing some 800,000 federal workers off the job. Obama readied a midday statement to the nation as Democrats and Republicans maintained a blame-each-other duel on Capitol Hill.
The eurozone's labor market appears to have stabilized, official figures indicated Tuesday, another sign that the eurozone economy is recovering from its longest-ever recession. Though Eurostat, the EU's statistics office, said the unemployment rate across the 17-member eurozone held steady at 12 percent in August, it found the number of people out of work fell for the third month running.
The world is aging so fast that most countries are not prepared to support their swelling numbers of elderly people, according to a global study going out Tuesday by the United Nations and an elder rights group. The report ranks the social and economic well-being of elders in 91 countries, with Sweden coming out on top and Afghanistan at the bottom.
The sequester and forced budget cuts have been squeezing budgets and sending home federal workers all year. Now, October is a key month as the federal government has been unable to pass a budget or raise the debt ceiling. The consequences of failing to do either could be damaging to the economy.
A handful of barely driven vintage Chevrolets fetched more than half a million dollars on Saturday at an auction that drew thousands of car buffs from around the world to a small northeast Nebraska town. Bidders and gawkers crowded shoulder-to-shoulder for the auction in a muddy field just west of Pierce, a town of about 1,800.
Chinese manufacturing activity ticked up more slowly than expected in September. A survey by HSBC Corp. released Monday showed that manufacturing activity in the world's No. 2 economy expanded slightly this month, rising to 50.2 from August's 50.1. The index uses a 100-point scale on which numbers below 50 indicate contraction.