economy

In an attempt to go toe-to-toe with retail giant Amazon, Best Buy has announced plans to implement a new price-matching system to combat the ever-growing trend of online shopping.

WASHINGTON (AP) — U.S. sales of previously occupied homes jumped in August to the highest level in more than two years, adding momentum to the housing recovery.

Looks like all those employees who’ve been putting in extra time to make up for a shrinking workforce have had enough — new research indicates almost half of employed Americans will be looking for a new job in the next year.

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While many in the US are feeling the pinch of the recession, others are enjoying unprecedented boom times. So says Phoenix Marketing International, which just released its annual roundup of the states with the most millionaires and found that for the second year in a row, the overall number of millionaire households in the US actually went up.

In a speech given from the White House Rose Garden on Monday, President Obama proposed a $3 trillion plan to cut the deficit, with half of that amount covered by increased taxes on the wealthy and another $800 million financed by letting the Bush-era tax cuts expire. “If we are going to make spending cuts… then it is only right we ask everyone to pay their fair share … We can’t afford these specia

On Monday, Bank of America announced that part of its plan to cut $5 billion in spending by 2014 includes the elimination of 30,000 jobs. CEO Brian Moynihan made no mention of layoffs during an investor conference, and the bank says it expects the job losses to occur naturally through attrition and not rehiring when people vacate their positions.

More than 120 school districts in 20 states, mostly in the western region of the US, now have three-day weekends because of state budget cuts to education. Now the Irene-Wakonda School District in southeastern South Dakota is the latest to eliminate Friday classes, adding to the 25 percent of South Dakota schools that have already adopted a four-day week.

A lot of people are losing their homes in this economy, but one Canadian man actually lost his home. A man outside of Toronto called police after he had returned to his mobile home to find it had disappeared.

With public attitudes fueled by continued economic problems, rising gas prices, vigorous opposition to the war in Afghanistan, and and little hope for political progress - confidence in the U.S. system of government has dropped to the lowest point in more than 35 years...