Economy

US wholesale prices fall 0.7 pct., most in 3 years

By: Associated Press 05/15/13 8:02 PM

Sharp drops in fuel and food costs reduced a measure of U.S. wholesale prices in April by the most in three years. Outside those volatile categories, inflation stayed tame. Read More

Obama's budget plan limits his bargaining power

By: JIM KUHNHENN 04/13/13 2:41 PM

President Barack Obama's budget overtures to Republicans may limit his bargaining power if the GOP ever returns to the negotiating table on a grand deficit-reduction deal. In essence, Obama's spending blueprint is a final offer, a no-budge budget whose central elements have failed to persuade Republicans in the past. Read More

Mayor Ed Lee touts job gains, rosy outlook in State of the City address

By: Chris Roberts 01/28/13 9:53 PM

Mayor Ed Lee proudly proclaimed on Monday that San Francisco is in an economic boom time, but he also acknowledged work ahead by laying out an ambitious list of new projects, initiatives and changes for the rest of his term. Fueled by a technology sector that has doubled in size to 42,000 jobs at 1,800 companies during his two years in office, The City is “back on track,” the mayor proclaimed. Read More

Germans float direct EU control over Greek budget

By: JUERGEN BAETZ 01/28/12 6:50 AM

A German official says Greece should temporarily cede sovereignty over tax and spending decisions to a powerful eurozone budget commissioner to secure further bailouts. The official said Saturday the proposal is being discussed among the 17-nation currency bloc's finance ministers because Greece has repeatedly failed to fulfill its commitments under its current €110 billion ($145 billion) lifeline. Read More

European leaders stress the positive at Davos

By: The Associated Press 01/27/12 3:28 AM

European financial chiefs are trying to soothe global CEOs and political leaders, insisting they have a handle on the eurozone's troubles. Germany's Finance Minister Wolfgang Schaeuble says he's "quite optimistic" about a Greek debt restructuring deal, despite recent strains in the complex talks. He says he doesn't expect Greece to default. He stressed that recent developments in markets have been "positive" for Italy and Spain. Read More

Debt inspectors in Athens as bond talks continue

By: The Associated Press 01/20/12 3:02 AM

International debt inspectors arrived in Athens on Friday to assess whether Greece is doing enough to get crucial bailout cash, while talks with private creditors continued on a bond swap deal needed to avoid default. Read More

Obama pitches tourism, campaign on East coast

By: JULIE PACE 01/19/12 12:04 AM

From the Magic Kingdom to the Apollo Theater, President Barack Obama on Thursday made the case for American tourism and his own re-election bid, mingling his political and economic agendas as he tried to stay ahead of the Republicans chasing after his job. Read More

Snippy Sarkozy shrugs off French credit downgrade

By: The Associated Press 01/16/12 2:06 AM

French President Nicolas Sarkozy has bluntly declared that a harsh downgrade by Standard & Poor's of France's formerly top-tier debt rating "changes nothing" for the eurozone's No. 2 economy. Sarkozy suggested that a solid market showing for a French debt auction Monday and a reaffirmation from rival ratings agency Moody's of France's triple-A sovereign debt offset the much-ballyhooed S&P downgrade. Read More

French president shrugs off loss of AAA rating

By: JAMEY KEATEN 01/16/12 1:26 AM

French President Nicolas Sarkozy on Monday shrugged off his country's loss of its prized triple A rating for its debt in his first public comments on last week's downgrade. Read More

Bailed-out Portugal's recession seen worsening

By: BARRY HATTON 01/10/12 9:37 AM

Portugal's recession will deepen this year under the weight of austerity measures meant to reduce public debt, the bailed-out country's central bank predicted Tuesday. Portugal is trying to free itself from a huge debt burden that forced it to ask for a €78 billion ($100 billion) financial rescue package last year to avoid bankruptcy. Read More