Financial News

Reuters - The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday.

Reuters - President Barack Obama, previewing a big push on the U.S. economy next week, on Saturday defended policies that he said "have stopped the bleeding" and put the middle class on the road to recovery.

AFP - The US Treasury Department denied media reports Saturday that American taxpayer funds would be put towards bailing out Afghanistan's beleaguered Kabul Bank.

AP - A strong economy needs bustling Main Streets and a thriving middle class, not just a healthy stock market, President Barack Obama said in paying tribute to the American worker.

Reuters - President Barack Obama, previewing a big push on the U.S. economy next week, on Saturday defended policies that he said "have stopped the bleeding" and put the middle class on the road to recovery.

Reuters - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were skeptical he would be able to deliver a big enough package to lift growth significantly.

AFP - Wall Street heads into next week with strong tailwind from recent days' rally and brighter outlook as traders keenly await President Barack Obama to unveil new plans for boosting the shaky US economy.

Reuters - G20 delegates agreed on Saturday global economic recovery would endure although the speed of expansion may slow, a South Korean official said.

Reuters - Japanese Finance Minister Yoshihiko Noda said on Saturday Tokyo would take decisive steps to stem the yen's rise when needed, while suggesting that coordinated currency market intervention was a difficult option.

AP - Unemployment is stuck at high levels even though some companies are hiring. The problem, government data show, is that too few jobs are being created for the growing number of people looking for work.

Reuters - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring was a positive surprise, relieving concerns about a stalling economic recovery.

Reuters - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were skeptical he would be able to deliver a big enough package to lift growth significantly.

AP - Companies add 67K workers, but jobless rate rises

AP - When the unemployment rate rose last month, the pain wasn't spread evenly.

AP - UNEMPLOYMENT RISES: The unemployment rate rose to 9.6 percent in August from 9.5 percent, as the nation lost 54,000 jobs. Private employers added a net total of 67,000 workers, but 114,000 temporary census jobs ended.

AP - For most Americans, the most important information in the monthly unemployment report is whether the jobless rate rose or fell, and by how much.

AFP - President Barack Obama promised a fresh slew of measures to boost the ailing US economy Friday after fresh data showed unemployment was again on the rise.

AP - Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth.

AP - Private employers hired more workers over the past three months than first thought, a glimmer of hope for the weak economy ahead of the Labor Day weekend. But the unemployment rate rose because not enough jobs were created to absorb the growing number of people looking for work.

AP - A look at economic developments and activity in major stock markets around the world Friday: