Economy
average gas prices

Recent spike in gas prices the beginning of a long-term trend

Consumers can expect to pay higher gasoline prices in 2011 for a number of reasons. Global economic recovery and a falling U.S. dollar have sent crude oil futures past $90 a barrel in the past few weeks. Gas prices in many states in the U.S. average more than $3 a gallon, and energy analysts expect
Obama offers tax compromise

Tax compromise boosts markets, along with partisan bickering

A tax compromise announced by the Obama administration Tuesday features both an extension of Bush tax cuts and a  federal unemployment extension. Wall Street gave the tax compromise a resounding approval, approaching stock-market highs not seen since the brink of the financial crisis. However, politicians on both sides of the isle vowed to do everything
rising oil prices

Rising gas prices could be a setback to recovering U.S. economy

U.S. gas prices were 6 cents per gallon higher on average than the night before when Americans awoke Friday morning. Since Sunday, U.S. gas prices have spiked 12 cents per gallon, and the trend is expected to continue. Economists warn that an oil price shock could be a major setback to the U.S. economy. How
bad credit car buyers would love this

More bad credit auto loans show credit markets staring to relax

Subprime auto lending saw a resurgence in the third quarter, according to the credit reporting agency Experian Automotive. Bad credit car buyers were also getting approved for higher loan amounts. At the same time that auto credit markets were loosening, borrowers defaulting on auto loans also declined. Lending standards loosen According to Auto Loan Daily,
Photo of a Ryanair plane

Ryanair faces mutiny after unexpected fee hits passengers

Ryanair is an Irish airline that ends up in international media relatively regularly. Once again, the airline is in the headlines. One flight got delayed by more than three hours late last week when more than 100 students simply refused to comply with staff directions. In Spain, Ryanair is facing judges that are ruling their
HSBC Bank

Seven banks cannot meet capital requirements in Euro stress tests

After the Greek debt crisis began to wreak havoc in European financial markets, a series of stress tests were devised to see whether European banks could handle any further shocks. After the tests were administered, it was determined that seven major European banks could not handle further strains as they did not have sufficient reserves
Catalytic Converter

Precious metal and gasoline theft increasing nationwide

Incidents of theft of precious metals and gasoline have started to increase nationwide. Gasoline theft has been observed during previous periods of high gas prices, and people are stealing precious metals such as platinum and copper at an increasing pace. Precious metals will always have a market. Keep an eye on the catalytic converter One
A jobless man holding up a sign that says "No way, no how, no bailout."

Unemployed refuse offers for jobs filled by illegal immigration

Illegal immigration and immigration reform are bubbling to the top of the media cauldron. The Obama administration sued to block the Arizona immigration law. Polls show most Americans agree with the law, and Utah wants to pass one just like it. Meanwhile, the United Farm Workers Union is getting a tepid response after offering the
rising oil and gas prices

Rising oil prices driven by global weather, markets and politics

Crude oil prices soared on Tuesday to pass $90 a barrel, a 26-month high. A weaker dollar and cold weather were cited as primary factors for rising oil and gas prices. A compromise with Republicans by the Obama administration that involved extending the Bush tax cuts, and traders hedging against the weaker dollar are also
airline baggage

Little extras equal billions for airlines

The baggage fees and the other little extras charged by modern airlines can be expensive and annoying for the traveler. But they are gravy for the airlines. A new report suggests they add up to billions for the industry. New report adds up the extras A newly released report, the Amadeus Review of Ancillary Revenue
rental vacancy rates

Falling vacancy rates signal sharply rising rents in near future

After about a decade of very low rent inflation, rising rents are emerging as a consequence of economic recovery. Rental vacancy rates have been dropping sharply, and rental market analysts are warning that double-digit rate increases are on the horizon. Further economic recovery may be at stake as rising rents feed inflation and subtract further
Elizabeth Warren

CFPB considers which non-bank industries to regulate

The U.S. Consumer Financial Protection Bureau (CFPB) is set to open next month in spite of attempts by Republican Senators to stop it. The bureau, which is the result of last year’s Dodd-Frank Act, is seeking input as to which financial entities it needs to regulate in addition to banks. Bureau to police the consumer
Federal Reserve

Fed mulls possible actions to give the economy a boost

The Federal Reserve, the board that sets overnight loan rates for banks, is mulling possible actions to help the economy grow. These changes could be as simple as maintaining course, or as aggressive as risky stimulus moves. Markets around the world have been trading slowly, waiting for the Fed to announce its decision, which is
File photo of President Obama staring out a window. He appears to be deep in thought.

Obama deficit commission considers raising retirement age

The federal deficit is in excess of $1 trillion, which will make the work ahead for President Obama’s bipartisan deficit commission difficult. However, as the Associated Press reports, commission leaders Erskine Bowles and Sen. Alan Simpson already have a dramatic plan of attack that will prove controversial. Reducing cost-of-living increases to government pensions, raising the
burgundy semi truck cruising at sundown

Truck driving jobs and auto industry jobs to surge in near future

As much as 400,000 truck driving jobs and an upcoming labor shortage in the U.S. auto industry promise to put a small dent in the U.S. unemployment rate. The U.S. auto industry and the U.S. trucking industry hemorrhaged jobs during the recession. But as the economy slowly recovers, truck driving jobs and auto industry jobs
Copier

Demand shrinking among businesses as durable goods prices rise

Weak demand has caused orders of durable goods to fall over the past month. Orders for durable goods, or manufactured goods that last for long periods of time, rose in January, but rising prices may have put a damper on the willingness of businesses to order such goods. However, orders for transportation items such as
illinois tax increase

Illinois lawmakers approve largest tax increase in state history

An Illinois tax increase of 66 percent was approved by the state’s legislature Wednesday. The state of Illinois, reeling from years of fiscal mismanagement, has been looking for ways to narrow a $15 billion budget deficit. The Illinois income tax increase, the largest in the state’s history, is a desperate step to solve budget woes