Newcastle Business News

WASHINGTON – New claims for jobless benefits rose more than expected last week, exceeding even gloomy expectations for an economy stuck in a recession that seems to be deepening. The Labor Department reported Thursday that initial applications for jobless benefits...

WASHINGTON – The president of the United Auto Workers says he is hopeful that Congress will pass a rescue plan this week for the country's troubled car companies. Ron Gettelfinger says he fears an impending collapse of General Motors and...

(AFP) – A fresh wave of selling hit global stock markets Monday as weak economic news from around the world and confirmation of a US recession prompted a massive pullback from last week's gains. The Dow Jones Industrial Average sank...

WASHINGTON – President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession. "I'm sorry it's happening, of course," Bush...

WASHINGTON (AFP) – The US economy has been in recession since December 2007, a panel of economists charged with the official designation of business cycles said Monday. The Business Cycle Dating Committee of the National Bureau of Economic Research said...

WASHINGTON – A measure of U.S. manufacturing activity fell to a 26-year low in November as new orders dropped for the twelfth consecutive month, a trade group said Monday. The Institute for Supply Management's monthly index of manufacturing activity fell...