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Rove group buys ads to haunt Obama’s jobs tour

Crossroads America, the conservative super PAC run by former Bush strategist Karl Rove, has decided upon a new media strategy: following President Obama wherever he goes. As the president travels the country in support of his jobs plan, the group will release ads bracketing his appearances in local media markets.…

Fed holds rate as U.S. economy recovery slows

WASHINGTON (AFP) – The Federal Reserve said Wednesday it would again maintain its key interest rate near zero as the pace of the US economic recovery was more sluggish than expected. “The economic recovery is continuing at a moderate pace, though somewhat more slowly than the committee expected,” the policy-setting…

Home sales dive, prices near 9-year low

WASHINGTON (Reuters) – Sales of previously owned U.S. homes plunged in February and prices hit their lowest level in nearly nine years, implying a housing market recovery was still a long way off. The National Association of Realtors said on Monday sales fell 9.6 percent month over month to an…

Pace of polar ice melt ‘accelerating rapidly’: study

WASHINGTON — The pace at which the Greenland and Antarctic ice sheets are melting is “accelerating rapidly” and raising the global sea level, according to findings of a study financed by NASA and published Tuesday. The findings suggest that the ice sheets — more so than ice loss from Earth’s…

US growth ‘modest to moderate’: Fed

WASHINGTON — The US economy expanded at a “modest to moderate pace” in the first months of this year, the Federal Reserve said Wednesday, as it sounded a cautious tone on inflation and the housing market. As it gears up for a key policy meeting later this month, the Fed…

US growth slows to 2.8% in fourth quarter

WASHINGTON (AFP) – US economic growth slowed to 2.8 percent in the last quarter of 2010, the Commerce Department said Friday, a pace that was slower than initially estimated. Growth for the last three months of the year was revised down from a previously announced 3.2 percent rate.…

US existing-home sales rise above year-ago pace

WASHINGTON – Sales of previously owned homes in the United States rose for the third straight month in January at a pace topping year-ago levels, a key trade group reported Wednesday. The National Association of Realtors said existing-home sales rose 2.7 percent to a seasonally adjusted annual rate of 5.36…

Core inflation fastest in more than a year

WASHINGTON (Reuters) – U.S. core consumer prices rose at the fastest pace in more than a year in January, indicating a long period of slowing inflation had run its course. The Labor Department said on Thursday its core Consumer Price Index, which excludes food and energy costs, increased 0.2 percent…

Fed sees firmer US recovery

WASHINGTON — The US economic recovery is now on a firmer footing, with consumers and businesses spending more despite still-high unemployment, according to Federal Reserve’s top policy panel. Minutes of the Fed’s January meeting, published Wednesday, pointed to the bank’s more optimistic view of the US recovery, despite persistent high…

US companies hiring at rapid pace … overseas

US firms created 1.4 million jobs abroad in 2010, compared to less than 1 million at home Corporate profits are up. Stock prices are up. So why isn’t anyone hiring? Actually, many American companies are — just maybe not in your town. They’re hiring overseas, where sales are surging and…

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