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NEW YORK
A more upbeat outlook on jobs pushed Americans' confidence in the economy higher in December for the second month in a row, a survey released Tuesday said.Consumers' expectations for the job market over the next six months reached their highest level in two years, but Americans remain gloomy about their current prospects.
NEW YORK
Regional bank Marshall & Ilsley is cutting out cash bonuses for its executives in 2009 to comply with standards under the federal bailout program.In a regulatory filing Tuesday, the Milwaukee-based bank said its board changed the compensation arrangements for its executive officers to comply with the program. It will grant "salary stock" to its executives for 2010 instead of bonuses.
NEW YORK
Stocks fluctuated in a narrow range Tuesday after reports on home prices and consumer confidence came in largely as expected, showing a gradual improvement in the economy.The Conference Board said its index of consumer confidence rose to 52.9 in December from 49.5 in November. That was slightly better than the reading of 52 economists had forecast.
NEW YORK
Home prices rose for the fifth month in a row in October, but the recovery continues to be uneven with only 11 of the 20 metro areas tracked showing gains.The Standard & Poor's/Case-Shiller home price index released Tuesday edged up 0.4 percent to a seasonally adjusted reading of 145.36 in October from September. The index was off 7.3 percent from October last year, nearly matching expectations of economists surveyed by Thomson Reuters.
NEW YORK
A city correction officer has been placed on modified duty after a photo was taken of her asleep on the job. The officer who took the cell phone camera image has also been disciplined.A spokesman for the city Department of Correction says officials found out about the image last week. Deputy Commissioner Stephen Morello said Tuesday that Nadja Green and Claudel Barrau have been transferred from a Rikers Island infirmary.
NEW YORK
A 12-year-old girl has died after a traffic accident on New York's Bruckner Expressway.Police say Kaitlin Booth was ejected from the car as it crashed through a fence early Tuesday morning. She was taken to Jacobi Hospital where she died.
NEW YORK
Morgan Stanley is considering the way it compensates its top executives, looking to defer more pay and benchmark salaries against rivals, The Wall Street Journal reported Monday, citing people familiar with the matter.The move reflects Wall Street's effort to minimize criticism of its pay practices and at the same time maintain its executive talent, the Journal reported.
NEW YORK
Johnson & Johnson is expanding a voluntary recall of Tylenol Arthritis Caplets due to consumer reports of a moldy smell that can cause nausea and sickness.According to a statement posted to the Food and Drug Administration Web site late Monday, the New Brunswick, N.J., company is now recalling all product lots of the Arthritis Pain Caplet 100 count bottles with the red EZ-Open Cap.
NEW YORK
General Motors Co. is offering deep discounts on its remaining Saturn and Pontiac vehicles as it looks to move the leftover inventory of the soon-to-be-dead brands, according to a published report.The automaker will pay dealers $7,000 for every new Saturn or Pontiac left on their lot if the vehicle is moved to dealer-operated rental or service fleets, according to The Wall Street Journal, which cited a letter mailed to dealers. This allows the dealers to sell the cars and trucks to consumers at a discount, although the vehicles would be labeled as used because the dealer would technically be the first owner.
NEW YORK
Stocks extended their gains into a seventh day following better readings on home prices and consumer confidence.The reports Tuesday came in largely as expected, showing a continuing gradual improvement in the economy. The Conference Board said its index of consumer confidence rose to 52.9 in December from 49.5 in November. That was slightly better than the reading of 52 economists had forecast.
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