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Business/Economy

  • More homes enter the foreclosure process in June

    LOS ANGELES (AP) — Banks are increasingly placing homes with unpaid mortgages on a countdown that could deliver a swell of new foreclosed properties onto the market by early next year, potentially weighing further on home values.

    June provided the latest evidence of this trend, as the number of U.S. homes entering the foreclosure process for the first time increased on an annual basis for the second month in a row, foreclosure listing firm RealtyTrac Inc. said Thursday.

  • FOMC: More Help for Economy May Be Needed

    Most Federal Reserve policymakers agreed last month that they might need to take more action to support growth if the U.S. economy loses momentum.

  • US employers add 80,000 jobs as economy struggles--Video Extra

    WASHINGTON (AP) — U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is still struggling three years after the recession ended.

    The unemployment rate was unchanged at 8.2 percent, the Labor Department said in its report Friday.

    The economy added an average of just 75,000 jobs a month in the April-June quarter. That's one-third of the 226,000 a month created in the first quarter. Through the first six months of the year, job creation is also trailing last year's pace.

  • Ala. Gov.: Airbus Plant Will 'Shape the Future'

    Alabama Governor Robert Bentley and other officials joined Airbus executives in Mobile on Monday to announce that the port city is home to the company's first aircraft assembly plant in America.

  • Health care ruling leaves NM to decide on Medicaid

    SANTA FE, N.M. (AP) — The governor and Legislature face a critical policy choice in the wake of Thursday's U.S. Supreme Court ruling on a federal health care overhaul and must decide whether to expand the state's biggest health care program to cover an estimated 170,000 uninsured New Mexicans.

    The court ruled the federal government couldn't force New Mexico and other states to expand Medicaid eligibility in 2014 by threatening to withhold federal aid received for the program.

  • Stocks drop after health care law is upheld

    NEW YORK (AP) — Stocks dropped sharply Thursday after the Supreme Court upheld the central provision of President Barack Obama's health care overhaul, a requirement that almost all Americans carry health insurance.

    The Dow Jones industrial average, which was down about 100 points before the court ruled, fell further and was down 136 points at 12,491 at noon Eastern.

  • Gas Prices Tumble Ahead of Summer Driving Season
  • Moody's Cuts Credit Ratings on 15 Major Banks

    Moody's Investors Service lowered the credit ratings of 15 of the world's largest banks late Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking.

  • Home Sales Drop As Mortgages Hit All-time Low
  • Bye-bye Best Western, hello Hilltop House Hotel

    The Best Western and the Hilltop House Hotel are parting ways.

    This week, the hotel on the corner of Trinity Drive and Central Avenue is changing its name to the Hilltop House Hotel and Conference Center.

    A Best Western spokeswoman at its Phoenix headquarters said, “They are no longer members of the Best Western family.”

    When asked why, she said, “You will have to talk to local management of the Los Alamos hotel.”

    When asked if other hotels have split from Best Western, she replied, “I don’t know.”

    Then she was asked if member hotels have general guidelines they have to follow and she said, “generally speaking yes.”