Federal Reserve Chairman Ben Bernanke declared Friday that the U.S. economy is on the verge of a long-awaited recovery after enduring a brutal recession and the worst financial crisis since the Great Depression.
Construction of single-family homes rose 1.7 percent in July, the fifth-straight monthly increase as builders poured foundations at the fastest pace since last October, the Commerce Department said Tuesday.
Amid signs the rest of the world may be recovering from the global financial crisis, Africa is still being hammered. South Africa's economy, the continent's largest, shrunk by another 3 percent in the second quarter, an omen that things may get even worse before they improve.
The credit card legislation signed by President Barack Obama in May provides consumers their first morsel of relief on Thursday when card issuers must begin giving more notice before imposing rate increases or charging late fees.