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Business/Economy

  • Bernanke: Fed wrestles with size of aid program

    WASHINGTON (AP) — The Federal Reserve is prepared to take further steps to rejuvenate the economy by buying Treasury bonds but is wrestling with how big the program should be, Chairman Ben Bernanke said Friday.

    Bernanke also indicated that Fed policymakers are trying to craft a plan to lift inflation from super-low levels. He made his remarks in a speech delivered to a Fed conference in Boston.

  • It's official: No increase for Social Security next year

    WASHINGTON (AP) — More than 58 million retirees and disabled Americans will get no increase in Social Security benefits next year, the second year in a row without a raise.

    The Social Security Administration said Friday inflation has been too low since the last increase in 2009 to warrant an increase for 2011. The announcement marks only the second year without an increase since automatic adjustments for inflation were adopted in 1975. The first year was this year.

  • Council candidates forum attracts standing room crowd

    The Los Alamos Monitor and the Los Alamos Chamber of Commerce sponsored a council candidates forum Thursday evening that focused on economic issues.

    Read the full story in Friday's edition of the Los Alamos Monitor.

  • Banks seize 288K homes in Q3, but challenges await

    LOS ANGELES (AP) — Lenders seized more U.S. homes this summer than in any three-month stretch since the housing market began to bust in 2006. But many of the foreclosures may be challenged in court later because of allegations that banks evicted people without reading the documents.

  • Bubble, bubble, toil and trouble!

    The main drain at Mountainair Cleaners in Central Park Square backed up this morning, flooding the floor and halting business for the day.

  • Commodities lifts materials and industrial stocks

    NEW YORK (AP) — Surging prices for metals, oil and other commodities lifted stock prices on Wednesday, especially industrial and materials companies.

    Strong corporate earnings reports from JPMorgan Chase & Co., Intel Corp. and railroad operator CSX Corp. also gave investors more reasons to be assured about the economy.

  • Commodities lifts materials and industrial stocks

    NEW YORK (AP) — Surging prices for metals, oil and other commodities lifted stock prices on Wednesday, especially industrial and materials companies.

    Strong corporate earnings reports from JPMorgan Chase & Co., Intel Corp. and railroad operator CSX Corp. also gave investors more reasons to be assured about the economy.

  • Officials in 49 states launch foreclosure probe

    WASHINGTON (AP) — Officials in 49 states have launched a joint investigation into allegations that mortgage companies mishandled documents and broke laws in foreclosing on hundreds of thousands of homeowners.

    The officials, including attorneys general and bank regulators, will examine whether mortgage company employees made false statements or prepared documents improperly.

  • Long-term implications of foreclosure freeze are 'grave'

    NEW YORK (AP) — Karl Case, the co-creator of a widely watched housing market index, was upbeat three weeks ago. Mulling the economy while at a meeting at a resort near the Berkshires, Case thought the makings of a recovery were finally falling into place.

    "I'm a 60-40 optimist," he said at the time.

  • Obama presses another spending measure as private sector jobs wane

    WASHINGTON (AP) — President Barack Obama is pushing a $50 billion plan to upgrade the nation's transportation networks and create jobs, bringing governors and mayors to the White House to help him make the case.

    Obama said Monday that clogged roads and crumbling infrastructure are costing American lives, eroding productivity and hindering economic growth. He spoke from the Rose Garden after meeting with state and local officials and Cabinet officials, who stood behind him for his comments.