recession – News Stories About recession - Page 14

Dec 11, 2009 1:19 PM CST

Hipster Beer PBR Cruises in Recession

Downmarket brew's sales skyrocket as usual suspects flounder

(Newser) - Pabst Blue Ribbon has profited from a hipster following for years because of its unpretentious image and low-profile marketing, so it makes sense that even a recession hasn’t dimmed the brand’s power. Sales are up 30% for the year ending in October, trouncing beer’s overall 1.1%...

Small Plates, Big Bars
Are the Future of Dining

Dec 11, 2009 9:34 AM CST

Small Plates, Big Bars Are the Future of Dining

Jose Andres' Bazaar in LA rakes it in while others falter

(Newser) - Chef José Andrés’ newish Los Angeles restaurant, Bazaar, is all the things fine dining didn’t used to be—in a hotel, bar-centric, and focused entirely on small plates. It's also one thing few and fewer restaurants are now: profitable. It's the future, Katy McLaughlin predicts, for several reasons....

Hey, Regular Joes,
You've Got Blackmail

recession fallout

Dec 10, 2009 7:14 AM CST

Hey, Regular Joes, You've Got Blackmail

In tough times, many turn to extorting non-celebs

(Newser) - Whether the perpetrators are spurred by the recession or inspired by the David Letterman and Cindy Crawford cases, the ranks of aspiring blackmailers are swelling—and an increasing number of their plots are targeting ordinary private citizens. The typical non-celebrity extortion victim has a high net worth and has engaged...

Americans Staying Put
Amid Recession

Dec 9, 2009 2:44 PM CST

Americans Staying Put Amid Recession

Number of people moving at lowest since WWII

(Newser) - The recession, with its attendant falloff in home prices and job opportunities, has pared back the traditional American activity of relocation to its lowest level since World War II. A new study shows that 12% of Americans moved in the last two years, compared to 14% earlier this decade, 17%...

UK to Tax Bank Bonuses 50%

Dec 9, 2009 1:52 PM CST

UK to Tax Bank Bonuses 50%

Any bonus over $40K subject to one-time charge

(Newser) - Britain will levy a 50% tax on bank bonuses over $40,800 this year, in an attempt to shore up the nation's finances—and appease angry voters—ahead of the coming election. Alistair Darling slammed banks who paid out hefty bonuses even as Britain remains in recession: "Their priority...

Obama to Tackle
Jobs, Deficit

speech preview

Dec 8, 2009 8:53 AM CST

Obama to Tackle Jobs, Deficit

Pols split on how to use bailout bucks for recovery

(Newser) - President Obama will today outline a new push to tackle the country's surging unemployment and mounting deficit. The speech, at the Brookings Institution, comes as legislators are locked in a debate over how, exactly, to use surplus TARP funds to boost a tepid recovery. Republicans oppose dipping into the surplus,...

'Formidable Headwinds' Hinder Recovery: Bernanke

Dec 7, 2009 4:30 PM CST

'Formidable Headwinds' Hinder Recovery: Bernanke

Weak credit and labor markets mean recovery will be slow: Fed chair

(Newser) - Ben Bernanke painted a stark picture of the economy today, warning that "formidable headwinds" are working against the incipient recovery. Despite an unexpectedly positive jobs report, the pace of expansion is likely to remain "moderate," the Fed chair said. “Despite the general improvement in financial conditions,...

Post-Crash Ireland Becomes Luxury Bargain Basement

Dec 4, 2009 11:33 AM CST

Post-Crash Ireland Becomes Luxury Bargain Basement

Fancy cars, wines, homes selling at deep discount

(Newser) - In the midst of its worst recession in modern history, Ireland has become a bargain hunter’s paradise, with high-end cars, homes, and wines selling for a song. “It’s a bit like old vultures over the carcass,” one shopper tells Bloomberg . “You’ll see all sorts...

Jobs Are Coming
Back—and Soon

floyd norris

Dec 4, 2009 11:22 AM CST

Jobs Are Coming Back—and Soon

Employers laid off so many they'll have to hire

(Newser) - The rosier-than-expected unemployment numbers released today are encouraging, Floyd Norris writes, but it’s actually the very precipitous nature of the original falloff that makes him optimistic about the future. So many jobs were lost, Norris argues, that If employers want to fill any but the most meager of orders,...

Stocks Surge
on Jobs News

Markets open

Dec 4, 2009 8:40 AM CST

Stocks Surge on Jobs News

Better-than-expected unemployment news pleases traders

(Newser) - This morning's better-than-expected unemployment figures sent markets up in a hurry at the opening bell. The Dow rose about 130 points in the opening minutes on news that employers shed just 11,000 jobs in November, the fewest since 2007, notes MarketWatch . The figures brought the unemployment rate down to...

Incredible Shrinking Stimulus Needs Part II

OPINION

Dec 3, 2009 3:32 AM CST

Incredible Shrinking Stimulus Needs Part II

Local government cuts are canceling out federal package

(Newser) - The American economy badly needs a second stimulus package, but the false belief that the government has already stimulated the economy to the tune of $787 billion is standing in the way, writes Harold Meyerson. When deferred spending and the effect of state and local government cuts are taken into...

Clothes Resellers
Getting Extra Picky

Dec 2, 2009 1:12 PM CST

Clothes Resellers Getting Extra Picky

The resale business is booming in the recession

(Newser) - Stores that specialize in reselling trendy used clothes are doing a booming business these days—enough so that they can afford to be picky. So many people are looking to make a quick buck by thinning out their closets that even Dior and Juicy Couture can be rejected, the Wall ...

Advertisers: Take a
Cue From Ketel One

Nov 30, 2009 7:50 PM CST

Advertisers: Take a Cue From Ketel One

TV spots hint at hard times, and does it well

(Newser) - Advertisers trying to market to recession-bruised consumers could take a cue from Ketel One vodka, suggests Seth Stevenson in Slate . Rather than playing Debbie Downer and addressing the recession with coupons—or ignoring it entirely à la Grey Goose’s glamorous yachting women—Stevenson says Ketel One has made “...

Cyber Monday
Sees 16% Jump
in Online Sales

Nov 30, 2009 5:50 PM CST

Cyber Monday Sees 16% Jump in Online Sales

Third-party Amazon merchants have a good weekend

(Newser) - Online retailers saw a big bump from "Cyber Monday" sales as consumers continued their Thanksgiving weekend shopping from their work computers. Internet retailers reported a 16% bump in sales over Monday a year ago, with sales at about the same level as on Black Friday. Analysts had predicted a...

Holiday Shoppers
Ditched Credit Cards

Nov 30, 2009 4:16 AM CST

Holiday Shoppers Ditched Credit Cards

Most used cash or debit cards to snag bargains

(Newser) - Recession-strapped Americans may have developed a plastic allergy—only 26% of Thanksgiving weekend shoppers used credit cards. Though consumers proved willing to spend over the holiday weekend, they seem to be changing how they spend: a whopping 39% used old-fashioned greenbacks, with debit cards making up the rest, according to...

As Food Stamp
Use Explodes,
Stigma Fades

Nov 29, 2009 7:14 AM CST

As Food Stamp Use Explodes, Stigma Fades

Americans 'who never thought' they'd use aid are relying on it

(Newser) - With one in eight Americans now using food stamps and 20,000 more signing up each day, "nutritional assistance" is becoming a normal part of American life rather than a shameful secret, reports the New York Times . In analyzing local data, the paper found that in 239 counties—as...

Employers Offer
More OT, Fewer New Jobs

green shoots

Nov 27, 2009 1:33 PM CST

Employers Offer More OT, Fewer New Jobs

Brightening economy results in more overtime, fewer new jobs

(Newser) - Manufacturers skeptical about economic improvement are hedging their bets and forgoing hiring in favor of scheduling overtime work to fill welcome new orders. The tactic may be working for now—employees surely aren’t complaining—but the phenomenon is likely to be short-lived. “Overtime is more costly,” an...

Black Friday Brings Out
the Shoppers

Nov 27, 2009 9:05 AM CST

Black Friday Brings Out the Shoppers

Consumers not too downtrodden for 5am campouts

(Newser) - Economic woes didn’t prevent shoppers from camping out outside stores across the country this morning, as retailers offered especially deep Black Friday discounts. Most opened early as well, with some, including Wal-Mart and many Old Navy stores, opening yesterday to get a jump on things. Toys R Us opened...

Give Thanks We're Not Thanking Wall St.

THOMAS FRANK

Nov 25, 2009 8:04 AM CST

Give Thanks We're Not Thanking Wall St.

Be grateful for new skepticism on financial industry

(Newser) - There won't be a lot of people thanking the financial industry this Thanksgiving, and that in and of itself may be cause to be thankful, writes Thomas Frank. There's been a shift in thinking and newly skeptical Americans no longer believe that the market is omniscient or that colossal Wall...

Q3 GDP Growth More
Like 2.8% Than 3.5%

FUZZY MATH DEPT

Nov 24, 2009 9:29 AM CST

Q3 GDP Growth More Like 2.8% Than 3.5%

Spending and home prices are up, but not enough to help jobs

(Newser) - The government’s optimistic reading of GDP growth in the 3rd quarter was distorted by a pair of rose-tinted glasses, it now says. The Commerce Department has revised its estimate down to 2.8% from 3.5% on evidence that stimulus programs like Cash for Clunkers and the homebuyers' tax...