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Related Debt News for our Springfield MI visitors

AFP - Organizers of balls celebrating Barack Obama's presidential inauguration on January 20 are rolling out special offers to entice revelers amid deepening economic turmoil in the United States.

Reuters - Wal-Mart Stores Inc led U.S. retailers in disappointing December same-store sales and profit warnings on Thursday, sparking fresh recession concerns that hit stock and currency markets.

AP - President-elect Barack Obama said Thursday the recession could "linger for years" unless Congress pumps unprecedented sums from Washington into the economy, making his highest-profile case yet on an issue certain to define and dominate his early presidency.

Reuters - The Bank of England cut interest rates by half a percentage point on Thursday to a record low of 1.5 percent and economists expect it to cut again in February as it battles to prevent Britain from falling into a deep slump.

AFP - US department chain Macy's said Thursday it would close 11 underperforming stores amid tough economic conditions and reported sales fell sharply in the critical year-end holiday shopping season.

AFP - US president-elect Barack Obama on Thursday warned that only immediate and massive spending to jolt the world's largest economy could avert a years-long recession and double-digit unemployment.

AP - The number of people continuing to seek unemployment benefits has risen sharply, according to government data released Thursday, indicating that laid-off workers are having a harder time finding new jobs as the recession enters its second year.

Reuters - Bleak economic data in Europe and disappointing December retail sales figures in the United States unsettled financial markets on Thursday, strengthening the case for more government stimulus and encouraging rate cuts.

Reuters - The number of workers filing new claims for unemployment benefits last week unexpectedly fell to their lowest level since mid-October, but the number of those remaining on jobless rolls rose to a 26-year high, data showed on Thursday.

AFP - Nearly half of potential US car buyers have put off buying a new vehicle as economic uncertainty caused many to reassess the value of their current vehicle, a survey released Thursday found.

AP - South Korea is moving closer to recession, the government said Thursday, as key indicators worsen amid a shrinking global economy.

Reuters - President-elect Barack Obama will seek Thursday to rally support for a massive fiscal stimulus package by warning that the United States could remain mired in recession for years without bold action.

Reuters - Citigroup forecast a synchronized global recession in 2009 and said developed economies may "flirt" with deflation while emerging market economies will slow sharply, adding that global corporate earnings were only a quarter of the way through an expected 50 percent drop.

Reuters - Lenovo Group, the world's fourth-biggest PC maker, forecast a quarterly loss as China's slowing economy hit sales, and said it will axe 2,500 jobs as part of a restructuring to cope with falling demand for computers.

Reuters - President-elect Barack Obama will decide how to spend the remaining half of a $700 billion economic rescue package, a top Bush administration official said on Wednesday, while a key Democratic lawmaker outlined his vision of how new rescue funds should be spent.