Business and Finance news

New Zealand consumer spending on debit, credit and store cards rose for a third month in April, adding to signs that record-low interest rates and income-tax cuts are slowing a slump in retail sales.
The value of transactions on electronic cards at retailers increased 0.3 percent from March, when they rose a revised 0.4 […]

Federal Reserve Bank of Minneapolis President Gary Stern said that while “appreciable strains” remain in credit markets, the resumption of U.S. economic growth “should not be too far off.”
“While it is still far too early to fully tally results, there has been progress and I anticipate more to come,” Stern, 64, said in […]

The world faces crisis of finance, not a crisis of capitalism.
As protestors gather to denounce capitalism on the occasion of the G-20 summit in London, it is worth remembering that free markets and free trade are not to blame for the current economic mess. The real culprit has been skewed finance. This distortion has […]

Maintenance shops will have to check the tire pressure of every vehicle they service under a new regulation adopted Thursday by the state Air Resources Board.
The rule takes effect July 1, 2010, and is part of the package of rules the Air Board is adopting to reduce greenhouse gas emissions. It includes smog check stations, […]

Stocks managed gains for the second week in a row despite tumbling Friday, as investors pulled back after the recent run.
The Dow Jones industrial average (INDU) lost 122 points or 1.7%. However, it also managed slim gains for the week, rising for the second week in a row for the first time since […]

Retail sales in Germany, Europe’s largest economy, unexpectedly fell in October as the fallout from the global financial crisis damped household spending.
Sales, adjusted for inflation and seasonal swings, dropped 1.6 percent from September, when they declined a revised 1 percent, the Federal Statistics Office in Wiesbaden said today. Economists forecast a gain of […]

This week's economic-crisis summit will pit U.S. and Canadian support for free markets against European demands for greater state control.
In the middle will be developing nations that hold increasing sway over the future of the global economy and don't want the trade-off between regulation and economic expansion to come at their expense.
The […]

The Bank of Israel may lower the benchmark lending rate for a second time this month as global financial turmoil imperils domestic economic growth.
Governor Stanley Fischer will cut the rate to 3.5 percent, according to eight of 14 economists surveyed by Bloomberg. Five forecast a half-point reduction and one no change. The decision […]

NEW YORK (AP) – The fight over control of Wachovia intensified Saturday, as a judge temporarily agreed to block the sale of the bank to Wells Fargo, Citigroup announced in a news release.
State Supreme Court Justice Charles Ramos issued the order blocking the sale of Wachovia Corp., which Wells Fargo & Co. had […]

At least two hotels in Santa Fe are offering rebates to ease the pain of high gas prices.
Park Inn is offering a $20 gas rebate check for guests who stay a minimum of two nights at any Park Inn location in the U.S. and Canada through September 30. The chain has locations around the world, […]