Business

1:18am

Fri June 8, 2012
Business

Despite Low Rates, Investors Rely On Treasurys

Originally published on Mon June 11, 2012 1:03 pm

Federal Reserve Chairman Ben Bernanke told a congressional committee Thursday that the U.S. economy faces some significant risks, and Fed officials are still deciding what to do about it.

His remarks disappointed a lot of investors who want the Fed to do something to revive growth. Bernanke spoke at a time when interest rates on government debt are hitting lows not seen since the Great Depression.

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12:16pm

Thu June 7, 2012
The Two-Way

Like LinkedIn, Last.fm And eHarmony Suffer Password Breach

Originally published on Thu June 7, 2012 1:21 pm

Last.fm

Last.fm and eHarmony became the latest websites to suffer security breaches that put the passwords of some of their users at risk.

In a statement on its website, Last.fm, which tracks and recommends music, said it was investigating the leaked passwords and asked all its users to "change their passwords immediately."

The dating site EHarmony said it had reset the passwords of those members whose passwords had been compromised.

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10:55am

Thu June 7, 2012
Economy

Generation Rent: Slamming Door Of Homeownership

Originally published on Thu June 7, 2012 12:07 pm

Neal Coleman and his wife, Rachel, are both in their mid-20s and attend graduate school at Indiana University in Bloomington, Ind. They say renting makes more sense for them and their young daughter until their family is a bit more settled.
Courtesy of Neal Coleman

Kristi Taylor can pinpoint the precise moment she let go of the dream of homeownership. It was a few months ago, as she and her husband and infant son were driving through a neighborhood of homes near their apartment in Athens, Ga.

"As we were passing through, I realized that I don't really look at houses like I used to, when we would point out homes and say, 'That can be ours someday,' " says Taylor, who is 28. Now, she says, "the idea of homeownership is so vague, it doesn't even strike me as something that's in our future."

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8:28am

Thu June 7, 2012
The Two-Way

Economy Is Poised For More Growth, But 'Fiscal Cliff' Looms, Bernanke Says

Originally published on Thu June 7, 2012 10:37 am

A word cloud of Federal Reserve Chairman Ben Bernanke's prepared testimony to the congressional Joint Economic Committee.
wordle.net

"Economic growth appears poised to continue at a moderate pace over coming quarters," Federal Reserve Chairman Ben Bernanke is telling Congress this hour, and will be supported in part by additional "accommodative monetary policy" from the central bank.

While there's been a slowing in job growth, Bernanke says that Fed policymakers believe household spending has been "relatively well sustained" and are encouraged by "consumer spentiment [that is] ... up noticeably from its levels late last year."

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6:42am

Thu June 7, 2012
The Two-Way

Jobless Claims Dipped Last Week

There were 377,000 first-time claims for unemployment insurance last week, down 12,000 from the week before, the Employment and Training Administration reports.

But in yet another mixed signal about how the economy's doing, that welcome dip is tempered by the fact that the "4-week moving average was 377,750, an increase of 1,750 from the previous week's revised average of 376,000." Economists watch that average because it offers a slightly larger look at the trend.

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