Economy

Biggest Bitcoin exchange lands in feds' crosshairs

U.S. officials froze the financial accounts of Bitcoin's biggest exchange, accusing it of transmitting money without a license. More

Student loan delinquencies: Check your state

Borrowers in West Virginia appear to be having the toughest time paying back student loans while delinquencies are pretty low in South Dakota. Check where it is in your state. More

Glimmer of hope for EU car sales

The latest data shows European car sales grew in April for the first time since September 2011. More

Retiring at 55? You'll need $372,000 for health care

Costs add up fast for retirees who aren't yet eligible for Medicare. More

Debt ceiling: Treasury soon to start juggling act

The U.S. Treasury on Friday will employ the first of several "extraordinary measures" to keep the country's borrowing from breaching the debt ceiling. Treasury Secretary Jacob Lew may soon issue a letter formally notifying Congress. More

France wants eurozone government, soon

France wants to see the creation of a eurozone government within two years to help lift the region out of its economic slump. More

Overworked IRS unit was treated like a "step sister"

The Internal Revenue Service group under fire for giving extra scrutiny to conservative groups was overworked, understaffed and lacked a layer of experienced middle managers to sound alarms, say former colleagues. More

The U.S. looks like Japan: Investors rejoice

America is almost halfway into a post-recession Lost Decade, but investors couldn't be happier. More

Apartment construction slows sharply

Housing starts fall sharply in April as volatile apartment construction figure falls sharply, but single-family home building remains strong. More

Bring on the cupcake deflation!

Not only is the cupcake craze truly winding down, it's leading to some Twitter fun among econ nerds. More

How I make money mining bitcoins

With bitcoins still hovering over $100, one miner explains how he makes money running his computer 24/7, supporting the Bitcoin system. Play

You can spend bitcoins at your local mall

Virtual currency Bitcoin is gaining acceptance at a growing number of merchants -- but they admit that very few customers are actually using it. More

Falling gas prices lead inflation lower

The Consumer Price Index, a key measure of inflation, fell 0.4% in April. More

Bad news for job market? Initial claims jump

Initial jobless claims higher than expected last week. More

Japan GDP trumps expectations under Abenomics

Japan's economy kicked into high gear during the first quarter as policymakers worked to combat falling prices and implement the policy prescriptions of Prime Minister Shinzo Abe. More

White kids will be a minority by 2019

The tipping point when white, non-Hispanic people will account for less than 50% of America's youth is about five to six years away, according to Census Bureau projections. More

Getting into the military is getting tougher

Thanks to the weak job market, the military is hiring higher-skilled recruits these days. More

IRS to close for 5 days due to budget cuts

Forced budget cuts are taking another bite out of the tax collection agency's operations. In addition to longer waits on its helpline, the agency will be closed completely for 5 days between May and August. More

EU braces for China telecoms trade fight

Europe says it's ready for a trade dispute with China over telecoms exports but would prefer to negotiate a solution. More

Los Angeles is worst for mail carrier dog bites

Los Angeles letter carriers suffer greatest number of dog bites in annual ranking from Postal Service. More

Eurozone economy shrinks again

Germany narrowly avoids recession in the first quarter of 2013 but its return to growth isn't enough to prevent the eurozone economy contracting again. More

Payroll tax hike prompts spending cuts

Most Americans plan to cut spending to make up for income lost from the payroll tax hike. More

Too late to invest in the bull market?

As the Dow and S&P 500 both hit record highs, some investors are wary of the rally while others are finding value in stocks that are lagging behind. Play

Japan: Is Abenomics working?

The initial results of Japan's Abenomics experiment are encouraging, but it's too early to call the strategy a success. More

How Change.org profits from petitions

Change.org founder Ben Rattray talks to Fortune's Adam Lashinsky about how his petitions website is able to attract users and investors. Play

Tesla: The anti-Solyndra

Unlike well-publicized losses on Solyndra, federal government could win big on $465 million Energy Department loan to Tesla Motors. More

How I 'stole' $14 million from a bank

Hacking into a bank is surprisingly easy. This expert has the receipt to prove it. More

Who will pay more under Obamacare? Young men

Young men buying individual coverage will likely see their premiums soar next year. For others, costs will vary. More

Deficits falling faster than expected

The Congressional Budget Office projects this year's deficit will be $200 billion less than expected just a few months ago. But the downward trend won't continue since lawmakers haven't tamed long-term drivers of the country's debt. More

U.S. charges 89 with defrauding Medicare of $223 million

Officials announced Medicare fraud charges in eight cities covering a variety of false-billing schemes. More

CNNMoney reader visits the White House

When Suzanne Eva Lain praised Obamacare in a recent CNNMoney article, she never thought it would earn her a ticket to the White House. More

Defense Department trims furlough days to 11

The Department of Defense will announce today that some 800,000 employees now face 11 furlough days, down from 14. More

Europeans still back austerity - survey

Despite recession and record unemployment, most Europeans still think governments should be cutting spending to bring down debt, according to a new survey. More

City of Detroit is financially 'insolvent'

Detroit's emergency manager says the city can't afford current expenses and is no longer able to borrow the money it needs to operate. More

Strategist predicts end of Bitcoin

Global risk analyst Ian Bremmer thinks that the next generation of virtual currencies are more likely to endure than Bitcoin. More

What's behind the IRS tea party scrutiny flap

The IRS is under fire for targeting conservative groups in a review of tax exempt groups engaged in political activity. Here's how it all started. More

Retail sales rise unexpectedly

Strong car sales and a rebound in home building help lift spending, despite weakness in other sectors. More

View from Main Street in one small town

We visited Maplewood, N.J., and spoke to small business owners about what it's like to run a shop in today's economic climate. Play

China's debt: a crisis in the making?

China's credit boom has saddled unworthy businesses with large loans, fueled the country's shadow banking system and put local governments on the hook for billions. More

Indoor pot growing uses 1% of U.S. power

Growing weed indoors isn't very green. But with marijuana legalization in Washington State, some hope to move cannabis production outside and under the sun. Play

Scenes from a $45 million bank heist

A team of thieves hacked into banks around the globe, while foot soldiers withdrew massive sums from ATMs and bought luxury items with stolen cash. More

11 cities where workers are disappearing

In places like Detroit and Tucson, the labor force is contracting. More

Stamp prices could rise again

The U.S. Postal Service board said it's considering price hikes as losses continue. More

Pickens: Natural gas to power most semis

T. Boone Pickens says that cheap natural gas will become the go-to for transportation fuel and that leaders in Washington will eventually realize the economic benefits. Play

Greece: Three years after the bailout

In May 2010, Greece turned to the EU and IMF for help. But the nation has paid a heavy price in lost output and soaring unemployment. More

Flood alarms threatened by budget cuts

Forced federal spending cuts, combined with tighter budgets at the local level, is forcing the U.S. Geological Survey to turn off some 350 stream gauges that monitor water flows starting this week. More

Econ 101: Are you smarter than a 12th grader?

See how you do on this standardized test designed for high-schoolers. More

Fannie Mae, Freddie Mac to help cut deficit

The mortgage financing giants, taken over by the federal government in 2008, are profitable again and paying big dividends to Treasury. That will help the country pare its deficit and buy time before Congress has to raise the debt ceiling. More

Jobless claims

Claims for unemployment benefits rose slightly last week More

How does your mortgage deduction compare?

In 2010, the average mortgage deduction among homeowners claiming it on their federal tax returns was $10,640. But the average deduction claimed in each state varied widely. More

8 to be charged in $45 million cybertheft bank heist

Federal prosecutors to announce charges against 8 in New York who were part of global cybertheft ring stealing targeting banks. More

I'm signing up for Obamacare

These Americans can't wait until they can apply for health insurance under the new state-based exchanges, scheduled to open for enrollment in October. More

Your heart attack bill: $3,300 in Arkansas, $92,000 in California

New federal data shows big gaps in bills for same procedures, even between hospitals in the same city. More

Munger: Europe 'made ghastly mistakes'

Warren Buffett's lieutenant Charlie Munger says Europe will muddle through their economic problems and that Japan has gracefully 'taken a messed-up static economy for a long time.' Play

Oil companies target America

The domestic oil boom is prompting U.S. oil firms to sell assets overseas and invest the money domestically. More

Jack Lew's signature gets a makeover

Treasury Secretary Jack Lew revamps his signature to make it more legible. More

Current deficit plunges 32%

Higher taxes and more people working brought in far more revenue during the first seven months of this fiscal year than the same period last year. Spending fell modestly, too. More

Unemployment haunts Social Security recipients

Older Americans who lose their jobs close to retirement are finding their Social Security benefits are lower than expected. More

Long waits, locked restrooms loom for national park visitors

Park insiders suggest vacationers this summer prepare for long lines, truncated visitors' center hours, locked restrooms and overflowing trash cans, thanks to federal budget cuts. More

Sentiment shift: Home prices to rise

A majority of Americans forecast home prices will rise over the next 12 months for the first time in three-year old survey by Fannie Mae. More

Buffett: Income inequality hurting economy

Billionaire investor Warren Buffett thinks immigration reform will pass in Congress and that rising income inequality is a drag on economic growth. Play

BofA, Wells Fargo sued for mortgage settlement violation

Lawsuits from New York Attorney General Eric Schneiderman are the first legal actions from federal or state officials over banks' alleged non-compliance with the mortgage settlement. More

Meals on Wheels: Bracing for cuts

Federal funding for Meals on Wheels, which provides meals for seniors, will be slashed. More

SEC sues financially troubled Harrisburg

The SEC says Harrisburg officials made misleading statements about the city's finances in financial statements, budget documents and a State of the City address. More

Buffett on stimulus: Consider consequences

Warren Buffett says the Fed's policies are driving higher asset prices and that fiscally, 'the downside of that stimulus would be greater than the immediate benefits.' Play

Bangladesh vows reform amid allegations of 'modern slavery'

Bangladesh promises to improve labor oversight as retailers weigh cost of doing business in the country after devastating factory collapse kills hundreds of workers. More

Construction jobs decline, but housing boom still strong

The April jobs report showed a drop in construction jobs, but it isn't because the housing boom is slowing. More

Munger: Banks may 'get in trouble again'

Despite Berkshire Hathaway's large investments in big banks, Charlie Munger says the banks need more regulation and less risk on their trading books. Play

One spot where government spending is going up

The Bureau of Labor Statistics recently ramped up its monthly survey of businesses, leading to the highest response rate on record for the February jobs report. More

April jobs report: Hiring picks up

Job growth was stronger than initially reported at the start of 2013, and U.S. employers continued to hire in April. More

Fewer Americans are unemployed long-term

The ranks of the long-term unemployed are thinning, but it's not known whether they are getting jobs or just dropping out of the labor force. More

Eating and shopping lead job rebound

Retail, restaurant jobs pick up, pointing to greater consumer confidence and raising hopes for a broader economic recovery. More

Behind April's jobs reports

168,00 jobs were created in April thanks to robust hiring in the retail and hospitality sectors, sending the unemployment rate down to 7.5%. Play

France to relax austerity as recession bites

Europe takes another step back from austerity, saying it may give France two more years to meet borrowing targets as eurozone's second biggest economy slips back into recession. More

Inside America's off-the-books economy

Companies are relying more and more on skilled freelance laborers in order to cut costs. These laborers, however, generally don't report their cash earnings. Play

Public defender hard at work on furlough week

A federal investigator in the D.C. Public Defender's office is in the midst of taking her 6 days of furlough. She and others in that office face as many as 15 unpaid days this year. More

Obama's pick for housing agency head faces massive headaches

Mel Watt, President Obama's choice to head the FHFA, will have to deal with a number of contentious questions about the government's role in the housing market should he be confirmed. More

Warren Buffett's investing advice

Berkshire Hathaway CEO Warren Buffett shares some of his investing tips. Play

Penny Pritzker, Obama's choice for commerce secretary, likely to face union ire

President Obama's plan to nominate Chicago businesswoman Penny Pritzker as commerce secretary is likely to draw criticism from organized labor and others on the left. More

Jobs report preview: More slow hiring expected

The April jobs report is likely to show that employers are still reluctant to go on a major hiring spree. The unemployment rate is expected to stay steady too. More

Bangladesh tragedy pressures retailers

After a building collapse in Bangladesh killed over 400 workers, retailers are under pressure to improve overseas manufacturing standards. Play

Jobless claims fall to 5-year low

First-time claims for unemployment benefits fell to their lowest level in five years last week. More

Businesses were more hesitant to hire in April

Hiring by private businesses slowed in April, according to ADP's jobs report. More

FHA's solvency plan is unfair to borrowers

The government insurer, which may or many not be in need of a bailout, plans to generate $10 billion by locking middle class borrowers into high fees for decades. More

Real debt fix can't exempt middle class - CBO chief

Lawmakers promise they will never raise taxes or cut benefits for the middle class. But Congress' budget scorekeeper says they won't be able to keep that promise forever if they are serious about putting the debt on a sustainable path. More

ECB: We're ready to fight a recession

Bank cuts rates as prospects of economic recovery in the eurozone begin to fade. More

How porn snuck into Bitcoin's code

Hackers are tinkering with a key part of Bitcoin's system. More

LinkedIn slumps on disappointing outlook

LinkedIn has blown Wall Street estimates out of the water for nearly two years, but it looks like that trend could be coming to an end. More

Hard-up France sells presidential wine

The cash-strapped French state is selling off some of its fine wines in order to raise money and invest in a collection of more modest vintages. More

Hedge fund manager: Fed should rev up 'printing press'

Hedge fund manager Dan Arbess thinks the Federal Reserve should funnel money directly to the Treasury instead of simply buying more bonds. More

eBay: 'Not against an Internet sales tax'

eBay CEO John Donahoe explains his company's stance on the proposed Internet sales tax. Play

Federal Reserve sticks with stimulus

The Federal Reserve will keep its foot on the gas pedal for the foreseeable future, in its controversial effort to stimulate the recovery. More

Here's the form to apply for Obamacare coverage

Shoppers can start filling out the three-page form in October to apply for coverage. More

Who's to blame for Bangladesh tragedy?

The collapsed building in Bangladesh which killed nearly 400 people was home to several garment companies producing inexpensive clothing. Play

Manufacturing growth falters in China

A weaker than expected manufacturing report in China has added to worries of slower growth in the world's second largest economy. More

NRG CEO: Nat gas will wipe out nuclear

Shell President Marvin Odum and NRG CEO David Crane explain why they think natural gas will become a dominant energy source. Play

Europe's joblessness at new peak, prices plunge

Slumping prices and record unemployment bolster the case for Europe to ease up on austerity and cut interest rates to inject life into its stagnant economy. More

Dr. Doom: Buy stocks while you still can

Economist Nouriel Roubini thinks there's a big crash and depression coming, but investors can ride this bubble higher for the next two years. More

Are Euro banks out of the woods?

Investors reward UBS and Deutsche Banks, after the two banks reported better-than-expected earnings. Play

Guarding the ganja: The biz of pot security

Security is no joke in marijuana businesses and now that Washington has legalized cannabis, security companies expect to see some serious business. Play

Home price rise continues to pick up speed

S&P Case-Shiller home price index shows largest 12-month jump since the height of the 2006 bubble. More

For the unemployed, no reprieve on budget cuts

Congress has selectively given a reprieve from budget cuts. But there's no indication that the unemployed, who will see their federally extended jobless benefits reduced, are on the list. More

Income, spending both up

March shows modest rise in both personal income and spending by consumers. More

Video game studio pirates its own game

The makers of "Game Dev Tycoon" turned the tables on those downloading their game from notorious piracy site The Pirate Bay. More

Bangladesh: Cheap clothes lead to danger and tragedy

The latest tragedy in Bangladesh once again raises the issue of the high price of cheap clothing, and puts pressure on the world's largest retailers to finally take meaningful action. More

Who brings home the bacon: Mom or Dad?

The days when only Dad worked are long gone. More

EU bans some pesticides to save its bees

Europe is buzzing over a two-year ban on some pesticides that are linked to harming the bee population. More

Health care spending growth hits record low

Obamacare is having some impact, but the weak economy is the biggest driver of America's slowing growth in health care spending. More

If not now, when will ECB cut rates?

Stuck in recession, with inflation rates tumbling and unemployment rising, the eurozone looks set to get its first cut in interest rates in 10 months this week. More

China cracks down on military use of luxury cars

China has banned the use of military license plates on expensive cars, according to official state media. More

Italian markets cheered by new government

Memories of Europe's debt crisis faded Monday as investors sent yields on Italian bonds to their lowest levels in over two years after a new government was appointed. More

U.S. economy revved up, but it's probably temporary

The U.S. economy accelerated at the beginning of the year, but don't get too excited. Economists aren't very optimistic that trend will continue in the months ahead. More

When will the debt ceiling need to be raised?

Not nearly as soon as expected, according to new estimates. More

Spain needs more time to meet austerity targets

Recession-hit Spain needs two more years to meet budget targets agreed with the EU, the government said Friday, presenting a new challenge to the region's austerity drive. More

FAA furlough reprieve: 'No fair!'

Lawmakers' about-face on FAA furloughs will help travelers. But advocates for everyone else directly affected by spending cuts are miffed with the selective undoing of what were supposed to be across-the-board cuts. More

Weary air travelers to get a break from furloughs

Congress on Friday was expected to pass a bill to give the FAA power to move money around to block furloughs for air traffic controllers who could be back on the job over the weekend. Other furloughed workers left in the cold. More

U.K. to honor Churchill with new £5 note

From 2016, the U.K.'s smallest banknote -- the £5 note -- will feature a portrait of wartime leader Winston Churchill, commemorating his achievements as a politician, writer and orator. More

BoJ stands firm while deflation worsens

The Bank of Japan made no changes Friday to its ambitious stimulus plan, even as a separate report showed deflation accelerated last month. More

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Sony shares boom on spin off speculation
Microsoft unveils new Xbox One game console
Apple grilled about tax havens
Bank of Japan maintains policy, cheers Abenomics
Stocks end at record highs ahead of Bernanke

Latest Report	Next Update
Home prices	May 28
Consumer confidence	May 28
GDP	May 30
Manufacturing (ISM)	June 3
Jobs	June 7
Inflation (CPI)	June 18

Overnight Avg Rate	Latest	Last Week
30 yr fixed	3.65%	3.65%
15 yr fixed	2.80%	2.78%
5/1 ARM	2.59%	2.60%
30 yr refi	3.64%	3.63%
15 yr refi	2.79%	2.78%