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 August 29, 2011 Afternoon Update |
 TOP NEWSQaddafi's Wife and 3 of His Children Flee to AlgeriaBy DAVID D. KIRKPATRICK, NEIL MacFARQUHAR and RICK GLADSTONEA report from the Algerian government on Monday was the first official news on the whereabouts of any members of Col. Muammar el-Qaddafi's family since he was routed from his Tripoli fortress by rebel forces. Profits Falling, Banks Confront a Leaner FutureBy ERIC DASHAs government lifelines fade and a second recession seems increasingly possible, banks are finding their growth constrained, even as they add new costs for consumers. Obama's Choice for Economic Adviser Is Known as Labor ExpertBy CATHERINE RAMPELLPresident Obama nominated Alan B. Krueger, an award-winning economist on the job market. U.S. Consumer Spending Rallied in JulyBy REUTERSSpending rebounded to post the largest increase in five months, the Commerce Department said. At the same time, a crucial housing index fell. Bank Merger and Consumer Spending Data Fuel Wall Street RallyBy REUTERSStocks rose more than 2 percent as a big Greek bank merger and a rebound in American consumer spending gave investors new confidence. |
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BUSINESSE.C.B. Chief Sees Weaker Growth in Euro ZoneBy JAMES KANTERJean-Claude Trichet acknowledged that growth could be weaker than expected, suggesting that the central bank might be more reluctant to raise interest rates again. Airlines Resume Service, but Snarls RemainBy CHRISTINE HAUSERMany passengers are trying to rebook flights into a system that is already packed with pre-Labor Day travelers. U.A.W. Urges Raise for Entry-Level JobsBy NICK BUNKLEY and BILL VLASICThe United Automobile Workers wants to increase starting pay for second-tier workers, which is now roughly half of what others earn, even though many perform similar jobs. DealBookAlpha Bank and Eurobank of Greece to MergeBy DEALBOOKTwo of Greece's biggest lenders, Alpha Bank and Eurobank, announced plans to merge, in a move to increase confidence in the country's beleaguered economy. Irene Adds to a Bad Year for Insurance IndustryBy MARY WILLIAMS WALSHMost of the estimated $7 billion in losses from Hurricane Irene will very likely come from property in New York and New Jersey, according to industry experts. |
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