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The U.S. recession is set to end “soon,” but continued job losses and plunging house prices point to an economic recovery that will be more moderate than those experienced in previous downturns, a survey showed.
The survey of 45 professional forecasters released by the National Association of Business Economists (NABE) on Wednesday found almost three-quarters […]

Canadian Auto Workers members have voted in favour of a cost-cutting deal with General Motors, a key hurdle for the automaker that was a condition of billions in government loans.
The union said Monday night that its members voted 86 per cent in favour of the deal over two days of voting at its […]

Editor’s note: This story contains profanity.
Internet search company Yahoo Inc. announced Tuesday that it would slash 5% of its workforce, as it reported a first-quarter profit that fell sharply from a year earlier but still managed to beat Wall Street’s forecasts.
Shares of Yahoo (YHOO, Fortune 500) rose more than 5% after hours.
The company’s layoffs […]

President Obama on Tuesday outlined the administration’s efforts to restart the economy and warned that tough times and decisions lie ahead, according to prepared remarks of a speech he’ll present in Washington.
Obama pointed to more job losses and foreclosures as well as "difficult and unpopular choices" when it comes to restructuring the auto industry […]

Oil prices followed the stock market higher Thursday after Wells Fargo released a bright earnings outlook.
The San Francisco-based bank predicted a much better-than-expected net income of about $3 billion for the first quarter.
Crude investors cheered the stock market’s reaction, sending oil prices up $2.86, or 5.8%, to settle at $52.24 Thursday. Prices reached a […]

More Britons joined the jobless rolls than at any time since 1971 as the recession destroyed work in factories, building sites and banks.
Claims for jobless benefits rose 138,400 in February to 1.39 million, the Office for National Statistics said today. That’s more than the population of Cambridge and compares with the increase of […]

American International Group Inc reported a $61.7 billion fourth-quarter loss on Monday, the largest quarterly loss in U.S. corporate history, after a revised rescue plan from the U.S. government.
The massive loss, equal to $22.95 a share, is the company’s fifth consecutive quarterly loss, bringing the total loss over that period to in excess of […]

The World Trade Organization said China must destroy counterfeit software or movies that are confiscated by authorities and provide more legal protection to foreign products, in a ruling on a case brought by the U.S.
A WTO panel of judges yesterday sided with the U.S. in two of the three arguments in the complaint […]

Good news: Lenders are ramping up their attempts to help troubled home borrowers.
Now for the bad: Most of the mortgage fixes being deployed are destined to fail.
Hope Now, the coalition put together to fight foreclosures, boasts that it has helped 3 million families stay in their homes since the housing crisis began in […]

What’s going well for small businesses? Not much, according to The National Federation of Independent Business’ monthly Small Business Optimism Index, which fell 5.4 points in October and landed at the third-lowest reading in the history of the survey.
"We’re mired in a recession," said the NFIB’s chief economist, Bill Dunkelberg.
Weak sales demand was the […]